Re: [tlug] Receiving money internationally

[Benjamin Kowarsch <trijezdci@example.com>]

There are online banks most European countries where you can open a bank account without being present in person. However, they will either require residence within the EU or within the country, or a connection with the country where the bank account is to be opened. A consulting contract with a company in the country may or may not be sufficient to satisfy the "connection" requirement.

In the UK it is very easy to obtain a limited company without any need to travel there. The fee is 25 UKP at company house. It is even easier to just purchase a shelf-company from a company registration agency who will also open a bank account in the name of the company. This will incur extra fees, but it shouldn't exceed more than a few hundred pounds total. You would then be registered with the bank as the company's officer who is responsible for the bank account and you could then have a cash card or even a VISA or Master card issued from which you can draw funds directly at most ATMs here in Japan.

For company accounts most banks offer multi-currency accounts, or foreign currency accounts. So you would have the agent open a JPY account for your limited company. At the end of the contract you can simply shut down both the company and the account if you don't want the continued fees.

If you type "ltd company in uk and bank account" into Google, there should be plenty of company registration agencies listed.

On Mon, 29 Aug 2022 at 17:37, Stephen J. Turnbull <stephen@example.com> wrote:

Hi, all

I've got a consulting gig with a small multinational that has offices
in the US and the UK (at least, but not in Japan).  I've negotiated
compensation in yen (keeps the wife happy, no exchange rate risk), but
haven't a good idea how to accept payment.  I was assuming PayPal, but
it looks like they're going to make things really difficult on the
KYC/AML front when they update the ToC in about a month.

Anybody have experience/suggestions in this kind of situation?  My
direct superior is in the US, and so is the client, so I'm not sure if
payment out of the UK is feasible.  But if that makes sense I'll
explore it with them, they've been pretty easy to work with.

Regards,
Steve