offshore company proposal for paypal and bank account

[baskuda]

Hello everyone. We are live in Turkey. We have an ecommerce site. We sell to European countries and South American countries. We are selling digital products.

We need paypal and bank accounts. We would like to open an offshore company that will have safe, low tax rate, low setup fee.

Anyone have a suggestion or idea?

 

[Sols]

First of all, you can't avoid Turkish tax. Any offshore company you form will be legally required to pay tax in Turkey, because it will be resident in Turkey.

In theory, you could form an EU company, open a bank or EMI account for it, and process PayPal via this subsidiary. The problem is if PayPal decides to look very closely at your company and wants to see proof that the company has office and operations in EU, is paying VAT, and so on. Then having an empty shell corporation in EU won't be enough anymore.

Best is if you can set up an actual office in EU, or other jurisdiction supported by PayPal. Very expensive for a small business, though.

How much revenue are you losing out by not having PayPal? Is that revenue greater or less than the costs of setting up an offshore structure to accept PayPal? Depending on what digital products you sell, PayPal may or may not be as important as you think.

Have you considered other payment methods? Look at where your customers are from and see what other payment methods are popular there.

 

[baskuda]

I think the most sensible option is New Jersey, what do you think ?

 

[dirtyharry]

You can setup a anonymous company with darks in the UK or Cyprus and setup EMI and paypal account for that purpose. I learned about it in the mentor group but have to fine tune my future setup a little.

Just saying, there is a solution for everything.

 

[TurnedToRobot]

The easy way is to simple buy stealth PP accounts from the internet, can be found with Google easely. Then you setup a larger setup to receive the money from that PP account to and transfer it from there to your EMI account.