Offshore Company, Banking, Payments,Cryptocurrency

EMIs – Electronic Money Institutions – are naturally part of the game when you deal with offshore applications, online work or you simply want to diversify your portfolio a little. There already are a few handy guides regarding the most trustworthy EMIs on the OffshoreCorpTalk forum. If you missed them, here are a few details about what to expect before actually digging into deeper details. A brief introduction regarding EMIs will put you on track and allow you to understand how it works – most people already know that. The point of this article is to identify the potential maximum limits you can have in transactions. To keep it simple, imagine the necessity to transfer $25,000 or maybe $50,000 in one go. Could you do that with an...

When it comes to traditional banks, all you can imagine is clean and posh buildings, as well as good-looking people dressed in suits and elegant dresses. Then, things may often go wrong – lots of paperwork to do anything, as well as ATMs giving you all sorts of errors. However, a new wave of banks aims to change all these things. The so-called fintech – financial technology – startups tend to change the way people bank. Also known as neobanks, these financial institutions tend to overcome all the stereotypes in the banking industry. Most importantly, they operate in a digital manner. They offer low fees, better experiences and a seamless online venture. Now, before digging into deeper details and providing some names regarding the...

The cryptocurrency market has exploded over the past years. The speed of this market is incredibly high, making the less experienced struggling to keep up with it. There are over 13,000 different types of cryptocurrencies out there, while the overall market capitalization exceeds $200B. Market research estimates this industry will grow even further – up to 25% per year. Now, when it comes to crypto payment gateways, your options may not be as diversified, but it is still difficult to make a decision. You do have options out there. However, you have to avoid diving in without any research at all. Indeed, more and more merchants accept digital coin payments these days, but different solutions are suitable for different businesses...

We do not really have to mention it again… The Mentor Group Gold section of our forum brings in access to exclusive providers, regardless of what you may need for your offshore business – be it a bank account in Switzerland, a new company in Dubai or accounting solutions to reduce the tax. Moreover, there are forum threads that simply cannot go in the public forums. Exclusive interviews Exclusive interviews with the people behind these services will also help you find out more about one thing or another. Discover the human side of the business and have your questions answered. Still not convinced? The latest addition to the Mentor Group Gold section brings up an explosive piece of content that will tell you everything you need to know...

Different OffshoreCorpTalk forum users stick to different online payment platforms – whatever works for them. Then, different platforms come with different terms and conditions. One thread in particular has caught our attention due to the wide discrepancies in opinions and facts. Regarding the versatile payment platform Stripe, more and more people fail to understand the terms and conditions associated with it, facing all kinds of issues. Here are a few things you should know before turning to Stripe. Business identification requirements This is probably the most important requirement from Stripe. The business ownership verification is applied to business owners only. The physical location will be verified – make sure you can get...

The Panama Papers represent over 11 million documents that were leaked in the spring of 2016. The documents provided access to a series of financial documents – more than 200,000 offshore businesses and individuals, including attorney-client conversations and details as well. Some of the documents were recent, but others dated back to the 1970s. The papers were stolen and leaked from Mossack Fonseca – an offshore law company based in Panama. Documents were associated with both low-profile companies and large corporations – including wealthy individuals known all over the world. Most of the data were kept private until these papers came out. Various governments took action based on these leaks – for instance, Jan Marsalek was...

It makes no difference what kind of investment you are trying to make. It also makes no difference what kind of broker you deal with. Unless you pick an unknown name from a third-world country that most people cannot even locate on the map, chances are you will be asked for the country that you are a tax resident in. You will also be asked for the corresponding tax identification number, which may come under different technical names. What is the catch then? What is the point of such information and what do you do if you travel a lot or deal with an offshore industry? Here is everything you need to know at a glance. Understanding the common reporting standard The common reporting standard – CRS – was introduced in 2014 and was...

So, you want to send some money without anyone else knowing, right? It makes no difference why and no one really cares. Perhaps you are trying to buy an engagement ring for the love of your life. You want to hide the transaction from the statement, especially if you have a joint bank account that both of you can access. Maybe you want to buy some upgrades for your car or perhaps some new tools. You do not want your partner to know about it because you know they will always tell you that there are other priorities. How about a game upgrade? How about a console? There are so many things that you may need to hide that you barely know what to buy first. Then, keeping anonymous is not just about hiding payments from close family members...

New to investments? You probably have no idea where to begin or what to do next, but there is nothing to be worried about. While you can take the time to educate yourself and perhaps learn the hard way - with a bunch of financial failures on the way, an investment broker could be an excellent choice. The broker will practically connect you to the market. Investment brokers which accept international customers will serve as a bridge between buyers and sellers. They enhance the stock market and allow their customers to purchase bonds, stocks or various securities. Understanding the concept of investment brokers The investment broker could be an actual person (self-employed professional) or a company. They will conduct transactions for...

If you have ever opened a bank account, you probably know already it takes time, and it requires lots of paperwork. In some countries, you will need to set an appointment, bring bills, proof of address, and so on. Then, you need to wait for approval before getting two separate letters – one with the actual card and another one with the pin code. If you think this is daunting, imagine doing it in a completely different country – you cannot speak the language, and you have no idea what documents to bring in. To keep it simple, this is what an offshore business is like. In theory, it is perfectly legal for a foreigner to open an account in a different country – some countries actually encourage foreigners to come over for investments...

While not new at all, the AML5 – a directive for anti-money laundering operations – is a challenge for many financial institutions and businesses. Many of these institutions are not even fully aware of it or what it actually implies. Before even getting fully implemented by everyone, a new directive came out – AML6. The tax reporting standard AML5 and now AML6 may have serious consequences for those who fail to bring it in properly. The legislation was introduced in the summer of 2018. Every country in the European Union had to introduce it into the national legislation by the beginning of 2020. Many organizations have managed to become compliant, but then, many are not fully prepared for these standards yet – mostly because they...

PayPal gained some reputation as one of the leading online payment platforms in the world, whether it comes to people making donations, freelancers or companies. There are different types of accounts and lots of options to set everything correctly. However, PayPal has its flaws as well. Personally, PayPal's high fees pushed me away. Besides, communication with the provider is not always the best, especially if you live in other countries than the USA or the UK. Now, PayPal's merchant account and its fees and restrictions have forced me towards an alternative. There are lots of options out there and the good news is that most of them are less likely to adopt PayPal's harsh restrictions and verifications. I know I am not the only one in...

The online market has seriously evolved in the last years and the dark web has gone even further. To the least experienced users, the dark web consists of websites that search engines do not really index. To the experienced ones, the dark web provides access to a plethora of things you may not be able to find otherwise. From this point of view, darks have also evolved. There is a market out there for forged documents, whether it comes to important passport and ID documents or less significant utility bills and bank statements. Understanding this market will help one make better decisions, whether it comes to registering a company abroad or starting an online wallet. The growth of this market is mostly possible because of the high...

Buying cryptocurrency is something everyone wants to get involved with, but most people have no idea where to start. In theory, the job is fairly simple – register for a cryptocurrency wallet or exchange and get buying. In practice, you will face a series of potential complications that could arise on the way, starting with the actual registration and ending with the fees and taxes. Most people imagine that cryptocurrency can be bought like groceries or shirts – wrong. In fact, you will be surprised to find out that some wallets or exchanges do not really accept cards. Sure, there are other options out there, but using a card gives you a feeling of safety, rather than having to register with other services and products. As a...

No name association, no ID required and no passport, but 100% legal – this is what you want from a fully anonymous credit card. You want to be able to use it anytime, anywhere, but you do not want to be traced. Sure, this is not really a necessity when you take your family on holiday, but there are many circumstances (especially business related) when full anonymity is certainly a plus – unfortunately, many of today's credit cards do not offer it, but you do have a few ways around. Worrying about private information is not about exaggeration. More and more people are concerned about it, especially in the age of technology. You have to be a bit extreme and maybe a little paranoid to protect yourself against all kinds of frauds. Using...

Released in 2009, Bitcoin brought in a new alternative to flat currencies. People gained a new perspective on what making a payment could mean. Plenty of cryptocurrencies have hit the market since then. People use them to pay for products or services, make transactions all over the world, invest or even buy a takeaway coffee. The high volatility of cryptocurrencies does not make them as attractive as they aim to be though. This is when stablecoins kick in. Stablecoins aim to fix this issue, as they are backed by assets. They provide more security and this is what contributes to their constant growth. Costs are decent, security is high and stability is impressive. Sometimes, they represent real flat currencies, such as pounds or euros...