Re: European bank account for donations



The US banks with euro accounts all had high wire transfer fees. I believe the problem is more the fees than the type of currency. (There are also exchange rates, but I don't think that's the main issue.)

Stormy

On Mon, Mar 12, 2012 at 1:53 PM, Dave Neary <dneary free fr> wrote:
Hi,

If all you want is a Euro account, most banks in the US can do that. But if you want an account in Europe, you need a European subsidiary. The easiest thing would be to talk to gnome fr or hispano bank rep and see what they say about passing money over and back.

Cheers,
Dave.

"Bastien Nocera" <hadess hadess net> wrote:

>Em Mon, 2012-03-12 às 12:16 +0100, Dave Neary escreveu:
>> Hi,
>>
>> On 03/11/2012 04:30 PM, Baptiste Mille-Mathias wrote:
>> > 2012/3/10 Germán Póo-Caamaño<gpoo gnome org>:
>> >>>
>> >>> Does this make sense?
>> >>
>> >> It might need necessary to figure out the way to do it properly (I
>think
>> >> that is what Baptiste is trying to figure out).  Otherwise, for
>the tax
>> >> office this sort of operation can look as money laundry or tax
>evasion.
>> >>
>> > …and I don't want to go to jail. :)
>>
>> That might be a bit dramatic...
>>
>> Yes, we can receive money from people in Europe, and we can transfer
>> that money to the US organisation with an invoice. And yes, we do
>need
>> to be careful about falling foul of money laundering laws.
>>
>> > We already had several issue due to the location of the Foundation
>in
>> > the past, like the tee-shirt design contest back on November 2010
>[1]
>> > which excluded inhabitants of some countries due to the embargo
>> > decided by the U.S.A. It's perhaps the right time to think to have
>a
>> > legal representation in Europe (and perhaps on other continents).
>>
>> It is true that it has not always been easy to deal with the GNOME
>> Foundation, because the foundation understandably worries about its
>> 501(c)3 status and making funds available without a sufficient paper
>> trail on how it will be spent (certainly the Libre Graphics Meeting
>guys
>> will testify to that) - but the same should go for any subsidiaries
>> working with the foundation. It's certainly much easier if money
>donated
>> in the EU is spent on EU activities that are easily justifiable.
>
>In that case, the problem becomes that we have two separate entities,
>with two separate organisational structures, with separate budgets.
>Which is why I wanted the existing US organisation to somehow have a
>Euro account. The accounting and budgeting is complicated enough
>as-is...
>
>> I disagree that a US organisation conforming to US export regulations
>is
>> a huge problem, though - IMHO this is a completely separate issue to
>the
>> money issue we're talking about here.
>
>Cheers

--
Sent from my Android phone with K-9 Mail. Please excuse my brevity.
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