Iran is opening up, which means that trade with Iran is growing prosperous. However, receiving/making payments to/from Iran is still a problem. However if smart trader know should know how to take this weak point to advantage with Kunlun bank payment and save more 5% cost as profit.
Top 3 questions I was asked by many Iranian traders: why & how I have to send money to Kunlun bank? how i can trust you? If Kunlun bank benefits a lot, why I don’t open a Kunlun bank account by myself?….
1,Why&how i have to send money to Kunlun Bank?
It has been observed that the Central Bank of Iran has very close cooperation with the following banks:
1) Bank of Kunlun;
2) Bank Muscat;
3) Halk Bank;
4) Europaisch-Iranische Handelsbank AG in Hamburg (EIH).
Iran trader nowadays can hardly buy foreign currency from Teheran banks, and make them switch to accept marketing exchange rate which is 10% higher than banks rates. However, Iran central banks encourage local traders make payments through Kunlun banks, if you do, banks offer you the its own exchange rate, and this can help you save at least 3000RII per USD. That’s a huge surprise to those who buying goods in China, and those who have no business in china, also can use this method to keep money in China or do one more step, save money in HK.(Private tip if you need details…)
2,If Kunlun bank benefits a lot, why I don’t open a Kunlun bank account by myself?
Kunlun Bank has a strict pre-evaluation procedure on applicant qualifications. Small and medium-sized exporters have little chance to open an account in this bank. In addition to submitting various business document as required by other commercial banks during account application, the applicant must provide an informative company profile and detailed background description about their business relationship with Iran customers. Applicants are also required to submit audited financial statements of the past two fiscal years as well as proofs of business transactions during the previous year.
They also require minimum fun of 30M RMB when first opening.
FAR Law Firm