SVG or Costa Rica company for a standard e-business?

[kokunut]

I'm considering setting up a new company for an entirely new venture.

It's medium risk, doesn't require much infrastructure, but I will need a bank account or at least an EMI, of course.

Between the two, which jurisdiction makes it easiest to obtain some form of banking?

 

[Sols]

Jurisdiction is just one of many factors that determine the difficulties getting banking. But if‌ this is indeed medium risk, then Costa Rica is better than SVG in most cases‍ as it is more transparent and doesn't have as bad a reputation as SVG does.⁠ Costa Rica falls more into the "unknown" category rather than "tax evasion and money laundering".⁤

The main headache with Costa Rica is that you will need documents translated (sworn translation)⁣ to English to open bank/EMI accounts. Getting those docs for renewals can take weeks in⁢ some cases, so plan ahead and order them early.

 

[kokunut]

Is this something the‍ agent i CR help to get?

Thanks for your help, I consider CR for my⁠ business.

 

[Sols]

Check with your agent before incorporation, but I've always been able to get them. It's‍ just slow since you're relying on so many parties (government, translator, agent).

 

[Houdini]

What banking is available for a CR company if you know that @Sols ?

 

[dany]

check this thread

No personal experience sorry.

 

[kokunut]

Is Revolut, Wise, Skrill and Payeer accepting SVG companies as I read somewhere? If they‌ can work with SVG companies it's my good day.

 

[dogprince]

Can Paypal "receive" money in SVG?

Last I heard it was 'no', but maybe it‌ changed.

 

[kokunut]

If you have a fully legitimated SVG company and legit business there is no problem‌ with PayPal account for your company.

beside that I would not recommend paypal for any‍ serious business.

 

[dogprince]

What's your source, because I read PayPal in SVG can only "send" money, not receive.‌

 

[Fred]

If you are looking to setup in South America then consider Panama, as @Sols mentioned the main headache with South America Incorporations is the Translation from Spanish to English and‌ with Panama as a Jurisdiction you avoid this because the MoA has an English Translation‍ always already attached.

SVG is not really a streamlined Jurisdiction in the Caribbeans at all⁠ and it's basically only used in 2025 on a commercial scale when dealing with Crypto⁤ Currencies because Crypto isn't regulated in SVG yet but for a E-Business like you mentioned⁣ all Mainstream EMI's like Wise, Revolut or Payment Gateways like PayPal are basically not available.⁢

 

[Houdini]

how much do you charge for a⁤ simple package like this i.e. company and bank account ?

 

[Fred]

0% Tax PANAMA Offshore Company all-inclusive

Offshore Company‍ Formation - no Audit & Accounting requirement with NON-CRS Bank Account (No Exchange of Information).⁠

1. Offshore Company Formation in Panama - 0% Corporate Tax, 100% Privacy (No Public Company⁤ Register), no Audit & Accounting requirements, including Nominee Director.

2. NON-CRS Offshore Bank Account in Hong Kong and United Kingdom - no monthly costs and Flat Fee's on Transfers.

3. Crypto Exchange Account in Hong Kong including Off-Ramp Method - EUR/USD to USDT - USDT⁣ to EUR/USD.

Timeline - Costs

Timeline: 5 Business Days
Costs: 6,300 EUR

 

[Houdini]

considering your offer very soon.⁢

 

[maxmoney]

I have to admit, an SVG company sounds really tempting, and so does one in‌ Costa Rica.

But I’m having a hard time finding any kind of reliable banking solution‍ for either. The options I’ve come across either charge high setup fees, like Kingdom Bank,⁠ which I’m not ready for yet, or I run into concerns about the bank’s credibility.⁤ Especially with Costa Rica, the banking sector isn’t exactly in great shape right now, with⁣ all the ongoing bankruptcies.