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Offshore company for privacy (Adult Streaming Biz)

Omolomo

Omolomo

Cash Addict!
Aug 31, 2017
12
5
3
#1
Hello house,

I've been a lurker here for some few weeks and I've learnt a great deal on this website. I have some few issues i'll love to sort out.
I run an online adult entertainment business (Adult Streaming) and unfortunately for me it's totally illegal here in my country (Nigeria). I would love to setup an offshore company in a jurisdiction that protects my privacy and offer tax incentives. I wouldn't be needing a bank account since i could use an EMI account to receive funds from my payment processor.
I would appreciate if i could get pointers on good offshore privacy setups that wouldn't limit my choices of payment processors. Also something cheap since i'm still trying to stabilize my biz.

Appreciate your assistance.
 
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#3
diablo said:
You may use a Seychelles or Belize company for this purpose. Just check with your payment processor if they accept the jurisdictions!
Click to expand...
Thanks for this info. I've mailed my payment processor (NetBilling) about this info and i'm patiently awaiting their response. I'll also like to know if i'll be able to register for a merchant account with my company registered in either of these these jurisdictions(in about a year). I truly appreciate your suggestions and answers.
 
#8
It's a little more costly but you might want to consider using two companies. One is the operating company in a reputable jurisdiction where you can get a merchant account, carry out your activities legally etc; the second is offshore in a low tax jurisdiction. You would shift your profits to the offshore jurisdiction by invoicing for expenses, trademarks or intellectual property, loan arrangements etc to reduce taxes for the operating company.
 
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#9
mnschwarz said:
It's a little more costly but you might want to consider using two companies. One is the operating company in a reputable jurisdiction where you can get a merchant account, carry out your activities legally etc; the second is offshore in a low tax jurisdiction. You would shift your profits to the offshore jurisdiction by invoicing for expenses, trademarks or intellectual property, loan arrangements etc to reduce taxes for the operating company.
Click to expand...
I totally agree with @mnschwarz that would Work for your needs!
 
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#10
mnschwarz said:
It's a little more costly but you might want to consider using two companies. One is the operating company in a reputable jurisdiction where you can get a merchant account, carry out your activities legally etc; the second is offshore in a low tax jurisdiction. You would shift your profits to the offshore jurisdiction by invoicing for expenses, trademarks or intellectual property, loan arrangements etc to reduce taxes for the operating company.
Click to expand...
Yeah It's a great setup. Just have a slim budget i'm working with.
 
#11
Omolomo said:
Yeah It's a great setup. Just have a slim budget i'm working with.
Click to expand...
By a Merchant Account, you mean for Credit/Debit card (Visa, Mastercard) processing? If so, it isn't impossible at all. Having an EU company simply allows you to accept payments from countries which are not on a blocked this by Visa/Mastercard (if you want to see the block list, I have compiled a full list of the countries blocked by Visa/Mastercard). However, you can still find processors who will process for you for countries not on the blocked list...
 
#13
"One is the operating company in a reputable jurisdiction where you can get a merchant account... "- beneficiary of this entity will not be reported as the this company is supposed to be active NFE,right?
But beneficary of "offshore in a low tax jurisdiction" will be possibly reported by bank if corporate bank account opened.
 
#14
mnschwarz said:
It's a little more costly but you might want to consider using two companies. One is the operating company in a reputable jurisdiction where you can get a merchant account, carry out your activities legally etc; the second is offshore in a low tax jurisdiction. You would shift your profits to the offshore jurisdiction by invoicing for expenses, trademarks or intellectual property, loan arrangements etc to reduce taxes for the operating company.
Click to expand...
\ QUESTION: who does the accounting for instance if you are in a Cyprus offshore formation? from what I believe it is a Cyprus accounting firm who will file the taxes, so what expenses do you give them and would they question the amounts you tell them you are invoicing yourself...???
 
#15
aleksbabyface said:
\ QUESTION: who does the accounting for instance if you are in a Cyprus offshore formation? from what I believe it is a Cyprus accounting firm who will file the taxes, so what expenses do you give them and would they question the amounts you tell them you are invoicing yourself...???
Click to expand...
normally they don't ask that many questions, I have not seen that yet! You look at figures roughly 2000 euro per year depending on what accounting firm you hire and hot active the company is!
 
#16
negon said:
normally they don't ask that many questions, I have not seen that yet! You look at figures roughly 2000 euro per year depending on what accounting firm you hire and hot active the company is!
Click to expand...
I am trying to incorporate in Seychelles but read on --------> SeyLII | International Business Companies Act , that if the registered agent finds out it is a P**N site, most agent who incorporate will terminate there representation for your company and strike you off and give you 30 days to find another agent or permently block you from registering again with these authorities. I have lost 30 days so far trying to incorporate this with almost all incorporation offshore services and all send me this same crap that pornography/pharmaceutical,gaming/gambling and financial services are not legal in their KYC or DUE DILIGENCE. I tried Orion in Belize, all the offshore this offshore that, now im browsing Seychelles and see in that link I posted above that the registrar agent could strick off if they find that and I will copy paste:
(d) conducts business or other activities which are, or are likely to be, contrary to the written laws of Seychelles or detrimental to the reputation of Seychelles,

the Registrar shall serve on the company a notice that the name of the company may be struck off the Register, if the company no longer satisfies the requirements referred to in paragraphs (a) to (c) or conducts such business or other activities as are referred to in paragraph (d).

Eventually if they get a letter, or there is a lawsuit, they seem to pull out and you are left defending yourself from what I read, is there someone that can help me here with this stuff and refer me perhaps an agent who does this type of incorporation no-problem and maybe also can someone tell me the best country for this type of incorporation, we have a regular tube site ready for launch, only this is slowing us down, I am also new to this site and don't know to much on how it works to post a question aside from replying here, Basically it seems that P**N is not looked upon very well nowadays but I need an agent who is cool stuff and wont cancel my 1000$ plus company upon knowing what business we are in, and yes of course I would mention we are a IT company with very little info but in the case of a lawsuit they I think end up knowing the business motto and then what ??? they cancel you and you are on your own with the charges it seems, thats just fk crazy here, please help, if knowledge is somewhere out there, thanks soooo much
 
#17
Well, so far I have not seen this happen. If an agent do so, you can simply find one that don't care, there are sufficient of agents around that don't care about it at all.
 
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#18
negon said:
Well, so far I have not seen this happen. If an agent do so, you can simply find one that don't care, there are sufficient of agents around that don't care about it at all.
Click to expand...
thats what I am aksing, I've been trying for quite some time, would you know of an agent who does offshore formation and is okay with adult companies set up, please send link for me and the world, trust me it is not easy, speaking personally of my experience, hmm please send me a company of formation who does the set up no problem even though it's adult (AGENT) ..... ---thx
 
#20
Omolomo said:
Hello house,

I've been a lurker here for some few weeks and I've learnt a great deal on this website. I have some few issues i'll love to sort out.
I run an online adult entertainment business (Adult Streaming) and unfortunately for me it's totally illegal here in my country (Nigeria). I would love to setup an offshore company in a jurisdiction that protects my privacy and offer tax incentives. I wouldn't be needing a bank account since i could use an EMI account to receive funds from my payment processor.
I would appreciate if i could get pointers on good offshore privacy setups that wouldn't limit my choices of payment processors. Also something cheap since i'm still trying to stabilize my biz.

Appreciate your assistance.
Click to expand...
hi, which Emi are u using, and do they know that u are doing P**N?
 
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