Vietnamese corporate account for high risk business

It is really difficult to open a bank account or an account with a payment service provider if you are in any form of high risk business, as seen by the banks. But what is a high risk business?

These are Online gambling, casinos, and gaming, telemarketing, VOIP, calling cards, online medication providers, pharmaceuticals, drug stores. Also adult entertainment (materials, products, or services), dating services, cryptocurrencies or foreign exchange trading, computer hardware and software or forex.

What can Vietnamese payment service offer to such business activities?

This provider can offer not only corporate account opening for various high risk business activities but also offshore companies.

It will allow you to unify your payment channels, bank accounts and remittance solutions under one integrated platform. It is ideal for medium-to-large corporate enterprises looking to become borderless, who wish to reduce their costs, maximise their revenue and control their financial ecosystem.

Some of the features and benefits:

  • A one-stop gateway to PSPs from around the world
  • Reliable bank accounts for deposits and settlements
  • A safe and secure environment for you and your clients
  • Expertly manage and combat the effects of chargebacks
  • Bulk wire payouts for payroll or to clients and partners
  • Single, centralised application for PSPs worldwide

What are the requirements to open the account?

Although account opening is quite costly (EUR 10000) all applicants will be accepted, as in history we have never seen a declined application. Account maintenance costs 500 EUR per month. Other requirements are user friendly.

There are no requirements towards a minimum deposit and minimum required balance. There are no maximum transaction limits and the amounts. Standard time of processing the payment is 24 hours. There is no need to hire a local director or have any presence or connection with Vietnam, which could be a typical requirement with other banks and providers.

Which documents are required for account opening?

All documents must be translated into Vietnamese in the embassy, which provider can organize for the clients. Otherwise all documents can be sent scanned, while originals can later be sent by post service.

Documents required:

Original Bank Form;

• Company Registration: Legalized and Notarized Vietnamese Translation

• Notification of using Stamp of Company: Legalized and Notarized Vietnamese Translation. In the case there is no such document in your country, it is required to provide confirmation letter from Law firm and legalized it.

• The Tax Registration: Legalized and Notarized Vietnamese Translation. In the case there is no this document in your country, it is required to provide confirmation letter from Law firm and legalized it.

• Company Charter: Legalized and Notarized Vietnamese Translation. In the case there is no this document in your country, it is required to provide confirmation letter from Law firm and legalized it.

• Passport of Representative of company: Legalized and Notarized Vietnamese Translation

• The decision to appoint CFO: Legalized and Notarized Vietnamese Translation

For more information visit our contact us page.

Acquiring & payment service provider in UK

It is quite hard to find a decent licensed card payment processor. However there are those that integrate not only corporate accounts but also automatically can give access to merchant accounts for all different types of cards. One of the very few is located and licensed in the UK.

What are the benefits?

The provider offers technical features that facilitate you to receive payments worldwide by having the following specifics: Visa and Mastercard payment cards processing, Multi-currency processing, Pay out on cards (Original credit transactions and MoneySend transactions), card 2 card payments,Recurring charges set-up, Tokens (one-click payments). 3D-Secure, e-invoicing and one click payments are also available for worldwide merchants.

Can offshore companies be accepted?

No. This payment service is prone to open regular and merchant accounts only to merchants incorporated in the EU, UK, Hong Kong, Singapore, USA etc. Although there are limitations with the jurisdiction of the company that applies, they are pretty flexible with business activities:  general e-commerce, high-risk like forex and gambling (forex and gambling merchants are considered only with license), some dating services, travel, etc. Therefore a wide range of different clients with different needs is welcome to apply for account and merchant account opening.

How to apply for corporate and merchant account opening?

It is easy. JUst let us know what type of service is needed and give us more info about your company and we will be happy to pre-approve you with this provider by giving you the exact info and fees involved for your particular case (price per MID etc…). This is free of charge and you can get in touch with us by clicking here  and filling out all necessary information.

Offshore Debit Card

Nowadays  most of the cards that you can find out there are your bank’s cards.

But what if you want to have your own debit card, not related to your domestic bank and have more privacy? This is now possible with offshore no name debit Union Pay cards.

What are the benefits?

This is a great alternative to a bank account and your profile can be created in just a few days.

The card is loaded only via bank transfer, by yourself or third parties.

 One person can have up to 3 cards, which allows high loading and withdrawal limits.

The good thing is also that Union Pay cards are available for almost all nationalities. So US citizens and Canadians will be accepted.The card does not have the name on it which protects your privacy and is similar to an offshore bank account.

What is required to get a card?

In order to get a card, some due diligence is still required. You will need to send your passport copy and utility bill (proof of address) not older than 2 months. You will also be required to fill out a simple form and pay for the card. The card will be delivered to you within a couple of working days.

After you receive the plastic debit card with the PIN sent to you by Fedex, you will receive detailed instructions how to load cards to your email, containing:

• Payment instructions containing banking details for card loading

• The email address to send a card loading order with detailed instructions

• Instructions how to access online banking for balance check

What are the fees and limits for card use?

Max Ticket Size $2,000.00 (per transaction)

Max Monthly Volume $20,000.00 (worth of transactions in a month )

Max Hour Count 5 times

Max Day Count 20 times

Card Loading amount/loading $9,000.00 per load

Max Card Balance amount $50,000

Card to card transaction $2000 per transfer

The cost of one card:   EUR 500

In order to learn more please contact us here and let us know if you have any questions or just want to get one or more cards for yourself or a family member.

How to open a personal offshore bank account?

The good thing about offshore banks is that they still accept non-resident clients. First and most important is to understand and select the bank that you are applying with. It is also crucial to understand it’s features. Above all, ask yourself how you will operate this new account and what you are looking for exactly.

There are many reasons to become non-resident account holders, including the search for guarantees of the depositor’s privacy offered by a number of overseas banks. Some applicants open offshore accounts to protect assets, others want to take advantage of higher interest rates on deposits, or look for a menu of new banking products. In simple words, offshore banking is about transferring your money to a financial institution outside your country, so any place in the world can be chosen for opening a personal foreign account. A few countries are particularly popular with private persons wishing to park their money in a secure bank account abroad. 

How to choose a bank?

You need to take into consideration what banks can offer an account that you are willing to open. Be it a depositary account or a current account, you will need to do some research or even better, talk to professionals by contacting us here

Before opening an account with an offshore bank, make sure that the chosen financial institution is reliable, has enough liquidity, and meets all your requirements. There are various factors that you have to consider before you entrust your assets to a particular foreign bank. The first aspect to pay attention to is the associated costs and the fee schedule of the bank. Our extensive experience in international banking allows us to hand-pick the most suitable jurisdictions for individuals who share with us their aspirations and concerns. 

What documents do you need for opening a non-resident account for a private person?

Every bank has their own policies and you will need to comply with their requirements. In almost every case the bank will ask you to provide a passport copy and other documents confirming your identity as well as the place where you live. Most of the time bank account opening can be done remotely. The list of other required documents is country-and bank-specific. For example, some foreign banks request testimonials from other banks, many arrange mandatory online interviews, or even require an in-person visit of the applicant. When the portfolio of documents is ready, it is submitted for compliance to the bank. Due Diligence can take up to 30 days. But even when the documents are issued and compiled properly, the applicant may be rejected by a foreign bank without any comments. 

How to apply for bank account opening?

The best way is to apply through professionals that can arrange pre-approval, which means preliminary check with the bank. This is by far the safest way to apply or choose an alternative bank. Please go to our Free Consultation page to arrange a consultation.

A Bank Account in North Macedonia

This is definitely the time when a majority of banks replies with “no” to account opening applications to non-resident clients.  BUt there are still banks that like to work with non-residents. THe whole list of some of those banks can be found here

Banking in North Macedonia is a new alternative that can be attractive both for corporate and private individuals.

Bank account in North Macedonia offers tax advantages, access to international markets and currencies. It enables international transactions, as well as access to investment products and asset management.

It can solve several problems that one can face with their resident banking: limitations with international transfers, operations with foreign currencies and no reliable banking system.

Why is it worth to open a bank account in Northern Macedonia?

The bank in North MAcedonia is the only one in the region with 100% Swiss capital. This speaks of banking proficiency and that is not the end. Maceodian bank, like all other banks in Balkans, hold the legacy of the old, well developed and respected Yugoslaian banking system. 

Unlike with other banks in North Macedonia, there are no requirements for minimum deposit for both private individuals and corporate clients. No minimum balance on the account is required for both private individuals and corporate clients, either. This makes it easier for clients who do not wish their money to “lie down” on the account to choose North Macedonia. The Bank provides Home Banking system (Internet banking) for both transactions and balance review. Debit cards are available only for private individuals:  VISA Electron Green, American Express Point, American Express Green, American Express Gold. Clients can open bank accounts in EUR, USD, GBP, AUD, SEK, CHF. 

Banking is considerably cheaper than in EU.

Other than that, the bank does not only offer regular services for private clients and companies. A wide range of other banking services is available, including Loans, deposits, bank vaults and safety deposit boxes, bank guarantees, overdraft, securities trading;

How does North Macedonia offer more privacy than other jurisdictions?

It is actually quite simple. North MAcedonia is still not a member of the Common Reporting Standard. Therefore there is no exchange of banking information with other jurisdictions. You can find more about CRS member countries here.

How can you open a bank account in North Macedonia?

It is quite simple, Findove can help you. The bank account opening process is done remotely for both private individuals and corporate clients. You can learn more by contacting us.

Corporate Bank Account in Nevis

Nevis is a famous jurisdiction well known for offshore company formations. But have you ever thought that Nevis could be a place with fantastic banking options? And yes, it is.

A bank in Nevis  is a fully regulated global bank with a deep British heritage. A bank and its affiliates have served a large and rapidly expanding international clientele, offering a wide range of fully integrated solutions including Private Banking, Business Banking, Trust and Escrow, Money Management, and Incorporation services in 10 different currencies across 150 countries.

Why is it worth to open a corporate bank account in Nevis?

First of all, banking legislation is stable and backed by a strong regulatory framework to protect depositors’ funds and to maintain acceptable accounting standards, complying with the bank capital requirements. Also – the bank is really open and not limited to all sorts of businesses, including Crypto and Forex etc. Lastly, companies from all over the world can apply but need to meet only one requirement –  a deposit of USD 100,000.

However, this deposit is at client’s disposal and is used only to “enter the bank”.

Clients have access to 24/7 self-directed e-banking. The Bank accepts deposits in 10 different currencies: USD, EUR, CHF, GBP, CAD, AUD, AED, JPY, SGD, HKD. SWIFT wire transfers (including 3rd party wires) processed within hours on the same day with banks across 150+ countries.  The bank does not charge any account maintenance fees, and accounts can be open completely remotely. Services such as opening of deposit accounts with attractive interest rates, credit and debit bank cards, brokerage accounts and currency exchange services are available (both fiat and crypto currencies).

Is a bank in Nevis crypto friendly?

Yes! The bank is crypto literate and can support various businesses involved in crypto. As mentioned currency exchange services are available (both fiat and crypto currencies).

What is required to open a corporate bank account in Nevis?

It is required to prepare documents for corporate bank account opening although personal non-resident bank accounts can be open, too. Findove can help you with this.

A bank account is typically opened within 10 days after an application is  accepted by the bank. Customers may visit the bank but this is not a must. Account applications and supporting documents are submitted electronically. No original documents are required.

If you are interested to open a corporate bank account in Nevis, please contact us for more information and a free consultation.

How to open a corporate bank account in St. Lucia?

Where is St. Lucia? Is it one of the offshore centers?

St. Lucia is an island in the Carribean and yes, it is an offshore center.

Saint Lucia by itself  is an island country in the eastern Caribbean Sea on the boundary with the Atlantic Ocean. Part of the Lesser Antilles, it is located north/northeast of the islands of Saint Vincent and the Grenadines, northwest of Barbados and south of Martinique

Saint Lucia’s offshore legislation was enacted as recently as the year 2000, affording Saint Lucia the opportunity to adopt best practice in the industry.  The Financial Centre Corporation  charged with the responsibility of promoting the island as an international financial services jurisdiction, developed an online registry, Pinnacle St. Lucia.

This registry, owned and managed by International Financial and World Investment Centre (IFWIC), a 100% government owned company, allows the end user to carry out searches and to make normal inquiries of the registry.  It operates on a secure site and permits users to file documents directly with the IBC registry or through a local registered agent when required.  Saint Lucia’s legislation provides strictest confidentiality of details of ownership and directors as this information resides with the Licensed Registered Agent and not at the IBC Registry.

Why is it worth opening bank accounts in St. Lucia?

One of the most reputable Caribbean banks is located exactly here. AS a member of a larger and reputable grup, this bank does not take risks such as onboarding high risk clients but is more than happy to host various companies from jurisdictions that are very unlikely to open bank accounts elsewhere (for example, Gibraltar trading companies). 

The banking staff is far and beyond friendly and professional, which is something that very few banks in the CAribbean can be proud of.

With that being said, there are a whole bunch of reasons why you should choose this bank for corporate bank account opening.

Offshore Companies are accepted. The fact that you can open a bank account for a company registered in Nevis, SVG, Marshall ISlands or similar jurisdiction is a big plus. It is a fact that offshores are very unpopular nowadays between banks, and this is not going to get better.

The Bank conducts its business in accordance with internationally recognized principles of banking and has a huge correspondent banking network. Accounts can be open and operated completely remotely, while corporate clients will be able to get  VISA cards and secured credit cards. 15 of the world’s major currencies are available for the account, including EUR and USD.

Wealth management, banking services for Trusts and Foundations, cash and/or securities backed lending, financial Escrow services and privacy are guaranteed.

How to apply for account opening?

It is easy, you just need to contact us and set up a consultation regarding the possibility of account opening. We will advise you on your chances of account opening and the following steps.

St. Lucia is the choice No. 1 in the Caribbean!

Acquiring and Payment Services in the UK

Opening a merchant account is always a task that is slightly more complicated than opening a simple bank account. A merchant account is a type of business bank account that allows a business to accept and process electronic payment card transactions. WIth that being said, there are a few more procedures than a simple account that you can use for business transactions.

What does a payment service has to offer in terms of acquiring?

This is an Authorized Payment Institution and is a Principal Member Acquirer of Mastercard and VISA. This means that if you successfully open a website with them, you will be able to receive payments from the clients that pay with VISA or Mastercard.

They mostly offer acquiring service for merchants in EU-jurisdictions with current account for the settlement payments in EUR for the customer’s convenience.

Regarding onbording process for the clients – the payment service offers two options: 

1. Pre-check form (this form is used for the quick reviewing of the attracted merchants in order to understand, if they can offer potential future cooperation) 

2. The other option is Customer Questionnaire and Beneficial Owner Questionnaire (data from the customer questionnaire are used for full-fledged consideration for the current account and merchant-account opening).

A remote account opening is available for all clients.

Payment processing is available in the following currencies: AED, AMD, ARS, AUD, BDT, BGN, BOB, BRL, BYN, CAD, CHF, CNY, CZK, DKK, EUR, GBP, GEL, GGP, GIP, HKD, HRK, HUF, IDR, ILS, INR, KRW, KZT, LYD, MDL, MXN, NGN, NOK, NZD, PLN, RON, RUB, SAR, SEK, SGD, THB, TRY, TWD, UAH, USD, ZAR

Each account will have a separate IBAN.

What type of clients the account opening is recommended for?

The payment service in the UK offers acquiring services for companies in many different types of business, but generally focused on: general e-commerce, high-risk like licensed Forex, licensed Gambling, some dating services, travel, etc.

What is required to open a corporate and merchant account?

There is a standard set of documents required for corporate account opening, including the information about the UBO (ultimate beneficial owners) of the company and also corporate documents.

For merchant accounts the additional documentation is required:  Company’s bank statements, a license if required, signed agreements with company responsible for client identification, internal signed AML/KYC policy, proof of domain ownership, PCI DSS documentation with ASV scan, AOC, SAQ (in case if your clients will use their owned payment page).

Findove will be happy to help you to open a corporate and merchant account with this fantastic acquirer, just let us know!

How to open a bank account online?

What are the benefits of opening a bank account online?

It is quite simple, you are not required to travel anywhere. This is particularly important in the times of the pandemic.

In order to open a bank account online, you need to prove your identity, as banks have to know who their clients are and that is why online bank account opening is not an easy thing to do. This is also why complicated KYC procedures take place and nobody can guarantee that a bank account opening will be a successful one – be it a remote bank account opening or not.

Identity check is usually done by presenting personal documents to the bank, such as ID, passport. Sometimes a call is required, sometimes a selfie with a passport or video interview.

Are there other benefits?

Yes, of course. 

FIrst of all, the cost you will avoid by saving on a plane or any other travel ticket. But this does not mean that banking services will be cheaper. Sometimes they can be more expensive, as this completely depends on a chosen bank, not the fact that a remote opening is allowed or not.

Then again, banks that allow account opening do so due to the fact that their clients have difficult times visiting the bank. Very often this is to help non-residents open a bank account. And that means that non-residents are accepted. 

Again, some banks may have lower onboarding requirements. Some of them might require more work from your side, such as preparing a pile of documents or shipping originals by DHL after the application is approved. Or maybe prior to it being approved!

What problems can you stumble upon?

Maybe you will stumble upon less options. Non-resident banking is not like your domestic banking where there is basically no chance you will get rejected for account opening. There are also limitations in connection with bad customer service, not many options for worldwide transfers, currency limitations, no deposit insurance, long wait times and so on.

But this does not necessarily have to be the case!

Remote bank account opening does not necessarily mean a problem with the bank.

That is why you need to be careful and select the right bank for yourself or your business.

What are the top recommended banks to open an account remotely with?

There is no general answer to this question. If you are a private individual, you need to check if a particular bank or payment service provider accepts clients from your country. 

If you are a business, there is a lot of information you need to consider all together with your needs. 

Findove can help by learning more about future bank clients and can definitely help with bank selection. We will learn about your business activity, country of registration, currencies you need, countries of incoming and outgoing payments… Then we will be able to recommend a bank that can open an account for you remotely – but only the banks where account opening remotely is realistic for you.