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

2022 Overview: The gaming industry in Malta, the UK, Germany, Sweden, Gibraltar and Curacao in 2022
04.02.23
2022 Overview: The gaming industry in Malta, the UK, Germany, Sweden, Gibraltar and Curacao in 2022   Introduction Igaming in 2022: The gambling business has had substantial growth in recent years and is currently experiencing rapid growth. In 2021, a number of nations, notably Malta,...
The Advantages of Accepting Crypto Payments in Your Business
31.01.23
BVNK is a well-known payment platform that enables companies to accept and send payments instantly, securely, and across international borders.   BVNK offers companies a variety of services, such as CryptoPayments, Global Settlements, Virtual Accounts, and Embedded Crypto, by bridging the traditional and digital finance...
UAE Banking industry overview
29.01.23
GBO has amassed a wealth of knowledge about the banking industry in the UAE and its numerous functions, rules, and needs via its thorough study.   For businesses wishing to register bank accounts in the UAE, this research is an invaluable resource because it offers...