Company industry: Online Gaming
Company jurisdiction: UK
Shareholders: 1 Individual from UK.
Banking needs: For the Curacao Company – need of SWIFT EURO, USD and other currencies, in and out.
Banking difficulties in the UK
Very few banking options for the Curacao company.
They came to us asking for assistance to open a business bank account in Europe with SWIFT EUR, USD and SEPA to receive funds from their merchant and they also needed debit cards to pay for online services.
- To open a corporate account in an EMI in Europe that is e-gaming friendly.
- We assisted them to obtain the Curacao Gaming License.
- We assisted the Curacao company in opening a bank account in Europe .
- In that way, the company has an account in Europe where all incomings from their merchant accounts and PSP’s are sent.
- The company issued 2 debit card for making online payments.
- We assisted them to approach an EMI in Europe, gather documents, prepare and submit the EMI’s required forms.
What were the steps:
- Identify their needs and current difficulties.
- Collect company shareholder’s information from open sources – company registry.
- Filling in the information in the financial institutions applications/ Corporate Questionnaire.
- Work with the EMI to ensure the application is accepted for smooth account opening.
- Result – the financial institution approved the application and opened the company an account with the required services.
Case Study Summary:
The time taken to open the account from first contact with us until the bank approved the application was about 24 days.
Before partnering with us, the company struggled with its banking options and almost had to close its business due to lack of operational bank account. The company has now been working with the bank we provided since mid 2020 and still, the account is fully operational.