Freelancers: How Do You Receive Payments From Clients In Eu?

[semigoodlookin]

Aren't you liable for taxes, this way? My banks all ask several questions once per year, such as where I reside, where is my money earned, what is the nature of my job, if I am a U.S. Person, etc. it is starting to bother me! I don't know abroad, but in Italy you should report when you are residing abroad and this info is forwarded to all public services (health care system, DMV, civil registry, revenue service,...). There are more cons than pros, the main cons for me being the bank account. Fortunately, there is no fine for those not complying, but you are still liable for taxes since you are still a resident. If I start answering honestly to those questions, 99% they will terminate my account. If I don't, I might get in trouble in case of a fiscal audit. It is really a catch 22.

My bank (its Natwest in the UK) has something where you can contact them and tell them you are leaving the country travelling (I didn't even have to state why to be honest), which country I will be in and for how long. My bank supports some countries, but not Argentina, so I tell them I am gone for X amount of time, when the time expires I just do it again. As I said I have been doing this for four years, it does however seem like things are different in Italy. I also have two other bank accounts that I mostly leave idle, again I have had these for the best part of four years.

Re taxes, I am not sure, fire off a call to your tax body in Italy and find out.

If you are backed into a corner, is there any family member your trust enough (parent or sibling perhaps) who could open a bank account and give you the details to use?

 

[HenryNisental]

You can possibly open an account in Colonia, Uruguay without much hassle.
You need to be a non US citizen at the DISCOUNT BANK, 2500 DLS deposit and a certified means of living, plus three references.
Banco Comercial will require 10,000 DLS. In Montevideo there are more banks, like BILBAO, Santander,etc.

 

[Girino]

I don't see any convenience in opening a bank account in Uruguay to receive payments from clients in Europe!

 

[citygirl]

I don't see any convenience in opening a bank account in Uruguay to receive payments from clients in Europe!

You can have them pay you in multiple currencies and doing an int'l transfer (from EU to Uruguay) is uncomplicated. And it is easy to go from ARg to Uruguay to withdraw that money. Hence the suggestion.

 

[ajoknoblauch]

I don't see any convenience in opening a bank account in Uruguay to receive payments from clients in Europe!

It's much more convenient to receive your payment in overvalued Argentine pesos, at the official rate.

 

[Girino]

I still don't understand how getting charged $25 a pop to receive a bank transfer on a UY bank account is more convenient than receiving a SEPA payment on an EU account with no fees.

 

[Girino]

I still don't understand why opening a bank account in Uruguay to receive EUR bank transfers from the EU is more convenient than a SEPA transfer within the EU. There is a currency conversion involved and a fee to receive an international bank transfer, whereas within EU there is none.

 

[Sockhopper]

Serafina,
French and British banks are no less tough than Italy's are. You're either habitually resident in 'x' country or you're not. One is supposed to have a bank account where he's truly, actually living most of the time. When you don't have an US account which would entitle you to transfer funds from it to Arg, and if you don't want or aren't entitled to get an Arg one, you're basically screwed if you lose your Italian one.

This is why I abandoned my plan to retire to BsAs 3 years ago from Canada. Anti-money laundering Regulations have really tightened banks' procedures just about everywhere.

Some French banks offer 'non-resident' ones just as some banks in the UK do but those aren't fully functioning accounts as ordinary residents' accounts are.