Hello everybody,
I own a sole proprietorship company and was thinking of transitioning to a LLC (aka Sarl or GmbH) however I have a question regarding payments.
Some of my clients are not in Switzerland and I have very diverse ways of getting payments from them like getting a wire into one of my foreign accounts in the client home country/ currency, using crypto wallets, etc.
It's all declared and legal but if I were to operate with a LLC I'd not know what to do as in principle the individual and the entity are different juridical persons.
Does anyone know whether you can continue receiving payments in personal accounts and then make a transfer to the LLC business account say in PostFinance/ UBS?
I could try to open bank accounts for the business in the same entities I have personal accounts but it'd be quite time consuming and then when it comes to crypto I'm not even know if you can open an account in Coinbase et al. for companies.
Any help would be appreciated
Thanks,
J
You issue invoices with financial amounts.
So long as the equivalent amount of money for each invoice arrives in your business bank account and is eventually declared for tax then I doubt anybody cares what route it takes.
Sadly, in today's AML and sanctioned banking world, the banks very much DO care where the money came from and how it got there.
Just be prepared to provide a whole lot of papertrail as proof for every payment over 10,000, or when multiple payments from same payer cumulatively exceed that amount. Oh, and delays, plus the odd reversed/refused payment.
Your situation will get better or worse depending on your nationality/residence status and the sending country (or financial institution).
Good luck!
Kind regards
Ian
Yes, I'm afraid that's what I was expecting.
I wouldn't expect to have this kind of problems.
It's more about getting to justify that a client paid in USD and then the payment passes though 2/ 3 accounts until it gets to the company in CHF.
If we get crypto in the mix it gets even worse.
As a sole trader is very easy to declare these things as there's no separation person/ company (which is on the other hand really bad in terms of liability)