Recent content by netmillions

No, check the quote in his post to which he was responding: Display other company name on website than on Stripe account? Whether a user does a chargeback has everything to do with the descriptor, and nothing to do with to whom the Stripe account is registered. Yes, please don't. I'd be happy...

Huh? Let me get this straight: - Visitor buys from ABC.com - Stripe account is registered under 123 LLC According to you, descriptor should be 123 LLC since that's what the Stripe account is registered under? Even though the website they purchased from/recognize is ABC.com? Right.

Please, stop misguiding if you don't know what you're talking about. The descriptor is what needs to match the website so buyers can recognize it. Stripe account can be registered to anything else.

Yes, if they have a problem with it, they'll let you know. Of course, I'm in a super low-risk vertical (chargebacks are almost non-existent), so it may be why they didn't get bogged in the details.

Yes, I haven't any issues doing this with Stripe. Honestly, unless you have high chargeback rates or are operating in a high-risk vertical, processors aren't that anal about these details.

Yes, so he can maintain moderate privacy by not listing the actual company name (123 LLC) in the dynamic descriptor. A customer would need to visit the website mentioned in the descriptor (ABC.com) and determine that 123 LLC is behind it from the T&C's. Not sure why everyone is hellbound on...

Isn't it only the descriptor shown to customers? That descriptor is supposed to help users identify the transaction. So if they are buying from ABC.com, the descriptor should say that, even if ABC.com is owned by 123 LLC. There's no need to put 123 LLC in the descriptor. That's how I do it and...

It's possible to create a U.S. LLC with a co-signer who is paid a monthly stipend. I know a law firm that can arrange this for you but it costs us a steep $2,500/month. Feel free to PM me if you're interested and need an introduction.

What's the problem with Hong Kong under nominees? If your goal is asset protection, it can also be owned by an offshore trust. There are strategies to setup a trust in a way where the assets within are protected even if you or the corporation is sued.

Hello, I am a resident of a jurisdiction that is not yet accepted by Stripe. I am looking to get around this by retaining a co-signer that will serve as the "face" for the Stripe/PayPal accounts. Things worth noting: - I am acquiring the business. Switching payment processors would mean...

This isn't true for all jurisdictions. For example, you can associate a U.S. bank account with a Canadian PayPal/Stripe account. Are you sure H.K. doesn't allow the same? You may have to add a H.K.-based bank account first, and then it might open the option to add a U.S. bank account as well.

So, PayPal withdrawals in USD are possible? Is it confirmed that this is not possible with Stripe?

Yes. Not sure if it helps that I was also a resident of the offshore jurisdiction.

I am not sure about privacy issues, but there's no tax implications since my corporation is in a tax-neutral jurisdiction. I was vehemently told by all consultants that banking for an offshore corporation in the U.S. was impossible, so imagine my surprise when the banks there approved my...

Are you sure withdrawals for a H.K. corporation account can only be in HKD? I haven't read this anywhere before. Yes, I do this and it's not a problem. My offshore corporation bank accounts are in the U.S. (yes, it's possible!) to facilitate ACH transfers.