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Sword and Shield

Offshore Company / Offshore Bank Account / Payment Gateway

E

El Aprendiz

New member
Apr 28, 2020
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#1
Hello good afternoon,

I have some questions that may help me with the commercial part


I will start to selling computer licenses through the internet, by e-commerce.

I am seeing where it is convenient to open an offshore company (I was thinking of Hong Kong or Seychelles)
  • at the same time the company must have a nominated director
  • where do you recommend me? (I am also open to other options)

Also receive credit / debit card payments, which payment processor to use?
  • the payment processor must determine the concept for which it is paying ... that is, it conceptualizes the sale as computer licenses. (This is very important)
  • my volume is like 20 k to 50 k weekly

Also, where should I open an offshore bank account? since I am going to have a director nominated and accepted that structure
  • that I must take into account with the bank, which is what they can ask
  • I will make several transfers from the bank, how many transfers can attract controlled or monthly attention?
  • If everything is documented, will we have a problem?

Thank you very much!
Have a nice day!
 
#2
Forget Seychelles. Hong kong is good just in case, there is a huge margin in all transaction. Accounting and audit fees in Hong Kong are very high. If you have many transactions, it is up to 6 USD per transaction.. If you sell 10,000 licenses per month in price s5 USD each, where your profit is 1 USD, Hong kong is not an answer.

If you are willing to flu to Panama, you can have panamian company, panamian corporate bank account, panamian merchant account.. There is all infrastructure which you need in Panama. Banks offering merchant accounts works just with panamian companies owned by panamian residents. So you will have to obtain panamian residence permit. If you are a citizen of first world country, there is no problem..
 
#6
I can tell you from experience that it is next to impossible to open a bank account in Hong Kong if you are not resident there. HSBC closed my account one year ago. I tried Neat (on-line bank) but they also turned me down. I have since closed my HK company.
 
#8
I am a lawyer. I have a branches in more countries. Panama included. In some cases, but realy in just some, a notary deed is required. There is no public registry of shareholders like in many other countries. So Panamian authorities does not care about who is a shareholder. Panamian corporation has a founders who are listed in company Memorandum and Articles. Shareholders are listed nowhere. Just registration agent and a a person who has a share certificate in possesion knows who is a company owner.
 
Last edited:
#9
AndrewJ said:
I can tell you from experience that it is next to impossible to open a bank account in Hong Kong if you are not resident there. HSBC closed my account one year ago. I tried Neat (on-line bank) but they also turned me down. I have since closed my HK company.
Click to expand...
it is possible, but you need to have at least a customer or a provider in Hong Kong or China
Same is for Singapore banks

If you want to open a bank account there and all your transactions will not include HK, then it will not work
 
#12
onemansomewhere said:
Forget Seychelles. Hong kong is good just in case, there is a huge margin in all transaction. Accounting and audit fees in Hong Kong are very high. If you have many transactions, it is up to 6 USD per transaction.. If you sell 10,000 licenses per month in price s5 USD each, where your profit is 1 USD, Hong kong is not an answer.

If you are willing to flu to Panama, you can have panamian company, panamian corporate bank account, panamian merchant account.. There is all infrastructure which you need in Panama. Banks offering merchant accounts works just with panamian companies owned by panamian residents. So you will have to obtain panamian residence permit. If you are a citizen of first world country, there is no problem..
Click to expand...
What is wrong about Seychelles?
 
#15
Credit card processing in Seychelles - almost impossible fo foreign owned or directed Seychelles company. There is just 1 bank which offers merchant accounts. This is offered to a Seychelles companies with a local directors and local shareholders only. And their fees are terrible. They bill 900-1620 SCR monthly maintenance fee, 5,9-9,9 % + 50 SCR for each transaction. When I recalculate to USD, it is 50-90 USD just of a maintenance fee, and 5,9-9,9 % + 2,9 USD pepr transaction..

There are just a few countries in a world, where you can have a merchant account with a card processing + be tax free in case of relevant structure..
 
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#17
onemansomewhere said:
Forget Seychelles. Hong kong is good just in case, there is a huge margin in all transaction. Accounting and audit fees in Hong Kong are very high. If you have many transactions, it is up to 6 USD per transaction.. If you sell 10,000 licenses per month in price s5 USD each, where your profit is 1 USD, Hong kong is not an answer.

If you are willing to flu to Panama, you can have panamian company, panamian corporate bank account, panamian merchant account.. There is all infrastructure which you need in Panama. Banks offering merchant accounts works just with panamian companies owned by panamian residents. So you will have to obtain panamian residence permit. If you are a citizen of first world country, there is no problem..
Click to expand...
HK account with nominees in the structure? good luck
maybe for the company but not for bank account
 
#18
onemansomewhere said:
This is offered to a Seychelles companies with a local directors and local shareholders only. And their fees are terrible. They bill 900-1620 SCR monthly maintenance fee, 5,9-9,9 % + 50 SCR for each transaction. When I recalculate to USD, it is 50-90 USD just of a maintenance fee, and 5,9-9,9 % + 2,9 USD pepr transaction..
Click to expand...
That include nominee structures? Or actual local directors /shareholders (i.e. are not used as director and shareholder of 1000s of seychelle businesses?

There are just a few countries in a world, where you can have a merchant account with a card processing + be tax free in case of relevant structure..
Click to expand...
Which are?
 
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