Business activity high risk, need company offshore

[cranck]

Hi,

I need to know what I can do with my station that is as the following.

Yesterday I came back from holidays and checked my e-mail from my card processor that just found out that they consider my business to be considered high risk! So far so good hey gave me higher rates and changed the payment terms!! I accepted it and just proceeded.

I'm wondering if I can open a new company and apply for a merchant account somewhere else just with the same business. What I think is that if I apply from a new offshore company the payment processors will not know so I can process with 2 different payment processors for the same business?

Is that possible?

 

[JohnLocke]

Why do you want to open an offshore company for this purpose? Does the card processor has made any terms that you only can use them and can't use any other payment processor?

I have seen this before so that's why I ask.

 

[cranck]

Exactly the payment processor has put this in a clausal as he say that we can only process credit cards with them not with other payment gateways.

 

[porkbunny]

You need to ask the payment processor (the new one) which countries they accept then you can decide where to incorporate your business to execute your plans!

 

[SasxInc]

Yes, i think possible. If you will get a new offshore company with new payment processor then can run both as long as first one allow you.

 

[AlicaFunk]

Don't tell them that you are processing with another company. I don't think they are able to cross check unless both payment providers are using the same bank! Anyway, doing business as sole trader is not good, so alone for this reason I would consider a offshore company. I'm looking for the right company solution my my situation too.

 

[cranck]

Thanks for the advise. But I will need a company in order to avoid them to find out. I think I have found a solution with a Cyprus company formation. Thanks

 

[negon]

Thanks for the advise. But I will need a company in order to avoid them to find out. I think I have found a solution with a Cyprus company formation. Thanks

You got it setup already or still looking?

 

[redeye]

Is that possible?

yes that is possible and actually a good idea. Most high volume high risk businesses split up their volume this way. The payment processors cross check if a business is already processing somewhere else and most often they don't allow that to take place. You need 2 different companies not associated.

 

[andreas]

Agree with redeye. You seem to know something about payment processing