Our valued sponsor

Sword and Shield

Offshore Company Paypal + Stripe Help please

#21
Regarding CFC

I will move to the Philippines after opening the business. They don't tax income from abroad, so that should solve everything.

For the time between, does Belize really send data to Austrian government? As far as I read they don't make public who owns the company's set up in Belize. Am I wrong? Meaning I would get a fine not taxing?
 
#22
overseas said:
Regarding CFC

I will move to the Philippines after opening the business. They don't tax income from abroad, so that should solve everything.

For the time between, does Belize really send data to Austrian government? As far as I read they don't make public who owns the company's set up in Belize. Am I wrong? Meaning I would get a fine not taxing?
Click to expand...

Belize won't send s**t. Your bank and your payment processor on the other hand.....
 
#23
Ok so let's think like this...

I won't make a lot of money at all when beginning. I even think it will be 300$ to max 1000$ at the beginning. I can open the company in Belize and use paypal without a bank account for the start. But the thing is I would really like to have a strong solid paypal account. I don't want to mess around with those stealth paypal accounts... also I don't want the money to go to my personal paypal as I already made an amount that could be considered as more than just personal use. So the thing I still need is a bank that is open to setup an account for a startup company.

Also, It would be great if somebody could tell me how the money transfer from paypal Belize to the bank account works. As paypal statement is the y only allow belize accounts to transfer to US Bank account or belize VISA card. So i would need one of these two. After talking to agencies im not to sure about belize bank account anymore as they mentioned that banks at belize are very strict. So an solution could be a US Georgia Bank Account?
 
#25
"Give paypal a ring. Tell them you are Austrian with a Belize company. Ask them how to get a paypal business account for this business without having a business bank account.", i don't think they will care at support. However, if you have paypal creditcard linked for long time in paypal then they ask less questions and let you use the account for a quite longn time before they ask for verification and stuff. I had several accounts where I did not upload any documents...

I know the account is only full verified with Bank Account (+CC) and documents...
 
#27
overseas said:
"Give paypal a ring. Tell them you are Austrian with a Belize company. Ask them how to get a paypal business account for this business without having a business bank account.", i don't think they will care at support. However, if you have paypal creditcard linked for long time in paypal then they ask less questions and let you use the account for a quite longn time before they ask for verification and stuff. I had several accounts where I did not upload any documents...

I know the account is only full verified with Bank Account (+CC) and documents...
Click to expand...
Try, don't call support,. but sales. Sales always more responsive than support.

But honestly you have 1% chance of getting paypal account for an offshore anonymous belize business (and there is a 1% margin of error in my figure)
 
#28
Okay thanks for your help.

What do you think about this option...

Upgrading my current paypal personal account to business account. My account if verified with 2 credit cards and bank account, phone number, email and passport. Upgrading it to an Belize Business account should be possible, tell me if I am correct or wrong.

My account has several hundred multiple transactions and is aged over 1 year...
 
#30
overseas said:
Okay thanks for your help.

What do you think about this option...

Upgrading my current paypal personal account to business account. My account if verified with 2 credit cards and bank account, phone number, email and passport. Upgrading it to an Belize Business account should be possible, tell me if I am correct or wrong.

My account has several hundred multiple transactions and is aged over 1 year...
Click to expand...
Never done it so couldn't possibly tell you.

But call them and ask. I think they will let an Austrian personal account be upgraded to a business account , but why would they let you turn that into a belize business account as you have no connection to Belize. I Think you need to understand, any way around the rules have been thought out by people much more knowledgeable than the system than you (and I ) can think of.

But if you don't want to call them, just go ahead and try. Just be aware of the penalities you may face being still in Austrian and avoiding / evading taxes
 
#31
@user9823671 , thank you for supporting me

I guess you can upgrade personal account AT account to business account ANY COUNTRY, your business doesn't have to be the same country as your home address or citizenship... I guess. I will call them

Also I'm planning to move my residental adress to philippines and they don't tax income from abroad until now.... So I would not care paying tax for 2020 ,2021 as long as I can decide when I move and stop paying tax.... I guess getting a business in austria first and then moving it to belize is a much more complicated process. Also in Austria you have to do a lot of paperwork for goverment....
 
#32
overseas said:
@user9823671 , thank you for supporting me

I guess you can upgrade personal account AT account to business account ANY COUNTRY, your business doesn't have to be the same country as your home address or citizenship... I guess. I will call them

Also I'm planning to move my residental adress to philippines and they don't tax income from abroad until now.... So I would not care paying tax for 2020 ,2021 as long as I can decide when I move and stop paying tax.... I guess getting a business in austria first and then moving it to belize is a much more complicated process. Also in Austria you have to do a lot of paperwork for goverment....
Click to expand...

What you will find is, that the stated rules do not always (ever?) apply to tax havens / laundering / 0% tax / high privacy / zero public record jurisdictions.
 
#34
clemens said:
You could fake the entire setup with a UK company and a UK SIM card it's so easy that if you spend as much time to research and test as you do to post here you had already solved the issue. It's very easy is what I want to say.
Click to expand...
Why not provide details instead of hinting at what you know, what is involved and how it it works. It is a forum to share and help, not brag
 
#35
user9823671 said:
Why not provide details instead of hinting at what you know, what is involved and how it it works. It is a forum to share and help, not brag
Click to expand...
All details are inside the mentor group and not allowed to be discussed on the public forums! That's why I just gave you a hint.
 
  • Like
Reactions: John Andrews
#36
clemens said:
All details are inside the mentor group and not allowed to be discussed on the public forums! That's why I just gave you a hint.
Click to expand...
If OP is a new member, they may not know that, so give them the link and details

But why not also be truthful about going for a highly illegal and fraudulent setup. It has the potential to work. But also has the potential to cause headaches and problems down the line. It is an effective strategy for some setups (perhaps) but not for all.
 
  • Like
Reactions: clemens
#39
Camille Württemberg said:
That's 2000's ish. Now they send to the Ultimate Beneficial Owners's countries.
Click to expand...
Totally agree, it is not where the company is registered but there the owner lives. It has been discussed around the board a few times already.
 
You must log in or register to reply here.

Forum Announcement

Latest Threads

The Kingdom Bank
Offshore Bank Accounts
Top Bottom
Back