Banking Difficulty

Detailed comparison of banking difficulty across major business jurisdictions.

📝 Write-offs 💳 Credit Cards 📊 Accounting Burden 🏦 Banking Difficulty 📋 Annual Obligations

Entity	Best Banks	Physical Presence	Timeline	Difficulty	Notes
Wyoming LLC	Mercury, Relay, Brex	❌ No (online)	1–2 days	🟢 Easy	Mercury is the gold standard. 100% online, no branch visit. Requires US EIN and SSN/ITIN or passport.
Estonia OÜ	LHV Business, Wise, Revolut	✅ Once (LHV)	2–4 weeks	🟡 Medium	LHV requires in-person identity verification in Estonia. Wise Business works fully remotely. Revolut Business also remote.
Georgia LLC	TBC Bank, Bank of Georgia, Wise	✅ Yes (Tbilisi)	1–2 days	🟢 Easy (with visit)	Must visit Georgia in person for TBC/BoG. Very easy once there. Account opened same day. Wise works remotely.
Bulgaria EOOD	DSK Bank, UniCredit Bulbank	✅ Yes	2–4 weeks	🟡 Medium	Requires presence in Bulgaria. Compliance questions for international structures. Revolut Business works as backup.
Cyprus Ltd	Hellenic Bank, RCB (closed), Eurobank	✅ Yes	4–10 weeks	🔴 Hard	Post-2019 de-risking has made Cyprus banking very difficult. Hellenic is strictest. Consider Wise + Cyprus IBAN as primary.
Malta Ltd	BOV, HSBC Malta	✅ Yes + compliance	8–20 weeks	🔴 Very Hard	BOV compliance onboarding is extensive. HSBC Malta is selective. Plan for 3–6 months. This is the #1 Malta complaint.
Hong Kong Ltd	HSBC HK, DBS HK, Airwallex	✅ Yes (HK)	4–8 weeks	🔴 Hard (distance)	Requires in-person in Hong Kong. HSBC very selective for international clients. Airwallex HK is easier and works for most needs.
BVI / Cayman	Butterfield, Deltec, Offshore specialist banks	✅ Yes	8–16 weeks	🔴 Very Hard	Major global banks have derisked offshore jurisdictions. Requires specialist bank with high minimums ($50k+). Compliance is intense.

Banking is the #1 bottleneck for new entities. Always open banking BEFORE you need it. Mercury (Wyoming LLC) is the fastest option globally — apply while waiting for other setups.