Company industry: Online gaming

Company jurisdiction: Israel

Shareholders: 4 Individuals from Israel.

Banking needs: To receive payment from brands they market –  SWIFT EURO, USD

Case: Solved

 

We can assist you too to open bank accounts – contact us

 

Banking difficulties in Israel

  • Their bank in Tel Aviv closed their account due to their industry risk category – online gaming
    While their bank account was opened, the bank postpones in incoming in USD. They had to explain to the US intermediator bank again and again for any payment.
  • They came to us asking for assistance to open business bank account in Europe with SWIFT EUR, USD and SEPA and also a financial institution that understand their business model so their account will be approved easily.

 

Our Solution:

  1. We face those issues with Israelis banks quite often in recent couple of years.
  2. We assisted them to open account in Europe under their Israeli company – no need to form a new company in a EU jurisdiction.
    In that way, the company has an account in Europe where all incoming from operators send to and then, company can easily send the money back to it’s Israeli bank account under the same company name so its internal transfer –no questions asked.
    They had to have a only view option to their accountant in Israel.
  3. We assisted them to approach an EMI’s in Europe

 

What were the steps:

  1. Identify their needs and current difficulties.
  2. Collect company shareholder’s information from open sources – company registry. Translate the extract into English.
  3. Filling in the information in the financial institutions applications/ Corporate Questionnaire.
  4. Work with the bank to ensure application is full for smooth account opening.
  5. financial institution approved the application and open the company an account with the required services.
    Time.

 

Case study Summery:

It took to open the account from first contact to us until bank approved the application about 18 days.

Recommended for you

How Much is a Crypto Gambling License Cost?
23.06.22
If you want to start a new online gambling service or are interested in adding the ability for customers to transact in cryptocurrency to an existing online casino, talk to our team of experts here at Money-Gate. We have over fifteen years of experience in...
e-Gaming Payments Software
23.06.22
When you investigate the many options that are marketed for such solutions, you can rely on the expert advice that our team at GBO will provide. We also can advise you on which software packages best suit your specific needs, and how to integrate them...
The Things YOU NEED to Know About Crypto Business Wallet
23.06.22
Crypto business wallet The phenomenal growth of cryptocurrencies since the launch of bitcoin in 2009 has made it essential that businesses must keep up with developments. Today, any businessman making decisions, budgets and plans should incorporate crypto management or risk losing a foothold in the...