How does remittance work in banking?

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I tried opening a savings account to receive payments from abroad and they told me I need to present a Certificate of Employment. I’m not even employed. I just have clients from different countries. They said that if it was a family member, then I can open an account.

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Anonymous 0 Comments

Your statement contradicts itself – you’re “not employed” but you have “clients”. It sounds like you are *self employed* and are getting paid by people overseas.

This is actually not an “easy” problem in the sense of “they can just mail me checks” or send payment “to my bank account”. This becomes a big international taxation issue before you even get into things like legal compliance “is this money funding terrorism” type stuff.

My advice is either to find a professional advisor in taxation or international banking and get them to guide you through it. I assume you’ll need to formalize your employment status (create an LLC or something similar)

OR

you can probably find companies on the intergoogle that offer 3rd party money routing arrangements from overseas to your bank account and can help you with the taxation and legal stuff, as a % of each payment.

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