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SWISSMONEY Iban Accounts with Sepa

IBC advice

M

mikelondon

Offshore Agent
Apr 27, 2012
4
0
1
51
#1
Hi,


Me and my colleague James are looking for some information about the offshore companies. I’m helping James run a small online business. I’m based in London and he’s based in Dubai. His employer wouldn’t look kindly on him running a business so he’d like to remain as anonymous as possible. If possible I would like to remain anonymous, but that’s not as important as protecting James’s identity. However we’d like to use his zero rated income tax status to our advantage. Any income I make would be taxed at 40% so we would like to minimize this. The company accounts are so simple we don’t need to involve accountants. Currently we use PayPal to receive payments (average value £300). We’re making about £10,000 per month. Our only outgoings are a single advertising contract of about £500 / month, which is paid by PayPal. I understand it may be difficult to receive PayPal payments to an offshore bank account so we’re happy to change to a credit card merchant account if that’s the only way forward. Our product is an online course for professionals, so extremely low fraud risk.


This is what we’d like to accomplish:


* IBC company with nominee directors


* No public record of our identities


* I’m the only signatory to the bank account


* Internet banking so we can make electronic transfers to James in Dubai


* PayPal able to deposit funds into the bank account OR credit card merchant account


Can anyone advise on the best way forward, and any reputable companies we can use to assist us set it up?
 
#2
Well you will face huge problems with the constellation and PayPal or any other Merchant account to accept credit cards. You can't do this with just 1 company unless you find a 3rd party payment processor who take on business from offshore companies in jurisdictions like the Seychelles, UAE, Belize or similar.
 
#3
I've seen a couple of companies advertising offshore merchant accounts - they seem to offer packages for company setup + bank account + merchant account. Is there more to it than that? We're running a totally legal, very low fraud business and we have a year of trading data.
 
#4
Best is to approach them to find out what they really offer and if they really can provide you with a real merchant account (own MID) - most advertise such service but for one or another reason fail to provide it. Also bear in mind that there is a mutual fraud activity in this industry, means some merchants try to cheat / fraud the payment service provider while in other cases it is the opposite, what that means is, not all merchant account / payment service providers are what they look like and you have to take precaution to avoid any los.


Best option to check a payment service provider is if they are listed as a PCI Level 1 Visa certified payment service provider on the Visa official and public available list.


I do hope this will help you and that you will be able to find a solution that will suite your needs and business.
 
Last edited by a moderator:
#5
mikelondon said:
I've seen a couple of companies advertising offshore merchant accounts - they seem to offer packages for company setup + bank account + merchant account. Is there more to it than that? We're running a totally legal, very low fraud business and we have a year of trading data.
Click to expand...
Check your Private Messages.


Hmmm seems like I can't send you a Private Message. You can contact me on johnreece1975 at gmail dot com


I have been where you are now and have found the solution


PS I am NOT a vendor
 
Last edited by a moderator:
#6
Check your Private Messages.
Hmmm seems like I can't send you a Private Message. You can contact me on johnreece1975 at gmail dot com
Click to expand...
You have nto been a membet long enough to PM! If you read the rules then it is not allowed to publish e-mail addresses here either! :cry:


Anyway, do you mind to share the company name that is offering merchant accounts and which helped you to achieve your goals? Also what business are you into?
 
#7
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#11
* IBC company with nominee directors
* No public record of our identities


* I’m the only signatory to the bank account


* Internet banking so we can make electronic transfers to James in Dubai


* PayPal able to deposit funds into the bank account OR credit card merchant account


Can anyone advise on the best way forward, and any reputable companies we can use to assist us set it up?
Click to expand...
It is really not a problem to setup the mentioned, only issue I can point at is the PayPal payment option, that's gonna be difficult.
 
#12
Paypal is the issue here.. but services like Skrill / Moneybookers and 2co.com are some great alternatives. It seems that one of the forum members here is able to open merchant accounts for Seychelles companies, I wonder if anyone have tried this solution and what rates we are looking at.


I have been using a nominee director for our Seychelles company for at least 3 years, never had a single issue with it at all.
 
#14
Would an account opened with Paynoeer and connected to PayPal not solve the issue here?
 
#15
warrior said:
Would an account opened with Paynoeer and connected to PayPal not solve the issue here?
Click to expand...
Indeed it seems that a Payoneer account may be the key to succeed with the setup of a offshore company with PayPal and to be able to withdraw the money from PayPal.
 
#18
trustseychelles said:
What documents did you provide doxs? do you provided simple passport copy or other ID without notary certificate?
Click to expand...
That's actually what is required.
 
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