From May 27, 2020, Payoneer will stop issuing cards for residents of the Russian Federation
From May 27, 2020, Payoneer will stop issuing cards for residents of the Russian Federation
- Important information for Russians: the Payoneer system has stopped issuing cards to residents in Russia (with a residential address in the Russian Federation), however, all current cards will be serviced until May 27, 2020 inclusive.
- Russian regulators have notified Mastercard that foreign card issuers can no longer provide cards to customers in the Russian Federation.
- The Payoneer payment system, headquartered in New York, USA, which provides financial services and online money transfers, recently announced regulatory changes in the Russian Federation, as a result of which Russians will lose the opportunity to use cards from this system, as well as many others such as Scrill, Neteller.
1. What does all this mean?
Previously, you, as a citizen of the Russian Federation, used an American company and an American Payoneer payment account (opened in an American bank) for your business. Due to recent changes this will no longer be possible.
Now you won’t be able to withdraw money to American accounts, which means that your cooperation with Stripe, Scrill, Neteller, Payoneer is under great threat.
2. What to do?
European company – European bank account.
There is an exit: To save the situation of your business, you need to open a company in the EU. Suitable option - register a company in Estonia:
— Estonia is a European country with a large number of Russian speakers,
— Legislation allows register a company in Estonia remotely,
— Stripe enters into cooperation agreements with Estonian companies.
All 24 reasons to register a company in Estonia It will be useful for everyone to know.
3. How does it work?
Having opened a company in Estonia, it becomes possible to return to Stripe and withdraw funds to your current account Your European company.
4. Additional benefits
— In Estonia, income tax is 0%.
— In addition, you have the opportunity to obtain a residence permit: in 3-5 months on the basis of business in Estonia, therefore, a Schengen visa, and therefore unimpeded movement within the EU.
5. How can citizens of the Russian Federation register a company in Estonia?
We will help you register a company in Estonia remotely, which means that Your presence is not required to register a company, which is very important in a pandemic.
6. What is needed on your part?
- power of attorney,
- passport, international passport,
- proof of residence,
— confirmation of a bank account in Russia.
7. How long does it take to open a company?
We will open a company for you in 3-5 working days.
8. How much does it cost?
1350 euros, taking into account the payment of fees and compliance with the legal requirements for providing a legal address and contact person in Estonia.
Write to us on WhatsApp/Telegram +37127191897 or call and we will answer your questions.
leo.
