FATCA affect on Offshore companies

[overseas]

Hello

Can you tell me how FATCA will affect my offshore company in Belize while I am Citizen in Austria?

Also how to get FATCA verification for PayPal?

 

[Martin Everson]

If your not a U.S Person don't worry about it.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[overseas]

How to get document to verify it? Where can I request the documents

 

[Martin Everson]

overseas said:
How to get document to verify it? Where can I request the documents
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What documents are they asking for firstly as you never said?

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[overseas]

I don`t know received the email like that. Now can`t login to paypal anymore and check it...

 

[Martin Everson]

overseas said:
I don`t know received the email like that. Now can`t login to paypal anymore and check it...
Click to expand...

Well no crystal ball here. Only PP know what they want from you.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[overseas]

@Martin Everson did you already set up PayPal for an offshore company?

 

[Martin Everson]

overseas said:
@Martin Everson did you already set up PayPal for an offshore company?
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I don't use PP. They once froze my account and gave all my money back to clients who paid for goods from me. Several clients scammed me by claiming their accounts were hacked and they never made the orders. PP decided to give all customers there money back and I never used PP again and that was over 15 years ago. I learned the hardway never to ever use PP for business.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[overseas]

I know you loose money by paypal but credit card can do chargeback the same way...

 

[overseas]

and bank transfer has to be checked manually, cryptocurrency almost no one uses. Not many options for small amount payments for personal customers...

 

[Sols]

They might make you fill in a W-8BEN or W-8BEN-E form. Google and you'll find them.

Don't expect PayPal to work for long. As soon as someone at PayPal realizes it's just another tax-avoidance offshore company, they will likely impose limits on your account until you can prove the company is based in and physically operating in Belize.

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This is the probably the answer to your question.

 

[overseas]

@Sols
Did you use a paypal account with an offshore company?


account?

 

[Sols]

I don't use offshore companies for anything customer-facing. It's just not worth the hassle.

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This is the probably the answer to your question.

 

[hernanday]

PP is a hassel, sorry, they will sooner or later keep demanding more and more documents and if you make too much money just shut your account, I don't mess witth them for that reason. PP only good for small transactions.

 

[ssldn]

Sure, they will keep on making problems, especially cause their way to decide is even unclear after they have performed their actions. And then will not even explain it, besides they are a bank