I have started working remotely with a company earlier this month as sole proprietor. I don't plan to have other clients. I have registered with the taxman and submitted blue form application. I plan to apply to 小規模事業共済 as well (accountant advice).
I have opened an account with SBI Shinsei. The client would have to send a wire via SWIFT… and I think they'd be ok covering any fees from their end. I am not clear if I would still face any fees on my end, other than currency conversion eventually.
However I am trying to figure out whether it would be more efficient to use a Wise business account for getting paid USD to USD "locally", and then convert to JPY. I know that they have this limitation for holding more than ¥1m in all jars, which I'm fine transferring over to SBI in JPY (I plan to use their Nisa as well, the rest of investments to IBSJ probably).
The thing is, the client would pay me in USD every month… So there's a currency conversion to take into account and possibly other fees. Wise shows you their fees clearly with a calculator, but I can't wrap my head around SBI fees and costs.
The good thing about Wise I would have a card I could use for paying expenses billable as sole proprietor. But other than that I'd like to understand any tradeoffs in choosing to be paid with one or the other.
Anyone here conducting business with either of Wise/SBI, or both? What's your take? thanks
by unfulvio
