Pros & Cons of Nevis
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You will be unable to get a bank account for your entity and you will not be able to apply for any merchant account.
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I'm proud to become an Elite Lifetime member of the Mentor Group Gold.
The secret of being happy is accepting where you are in life and making the most out of every day
I asked PayPal and they said it was fine for Saint Kitts & Nevis?
Also, similarly for the EMI providers I use.
(I have no need for a bank account there).
Also, similarly for the EMI providers I use.
(I have no need for a bank account there).
PayPal is OK with it, how will you verify your account if you want it to be a business account?
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I'm proud to become an Elite Lifetime member of the Mentor Group Gold.
The secret of being happy is accepting where you are in life and making the most out of every day
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I'm proud to become an Elite Lifetime member of the Mentor Group Gold.
The secret of being happy is accepting where you are in life and making the most out of every day
I don't understand sorry. Myself? I would verify with me being the beneficiary / main contact.
Paypal are "technically" ok with it, if you are from there, live there. For foreign non-residents trying to evade tax, it's very different
That's never going to happen. As mentioned in the thread already, you will need to be resident there or at least have a utility bill, phone number and IP from there to get a paypal account.
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My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
Thank you but it's all legitimate reasons I'm doing it. I will be living in a country that doesn't tax foreign income and doesn't have any CFC (or similar rules) so having the company in an international location with no corporate tax makes sense on many levels.
Also, I just got off the phone with PayPal and they walked me through how to do it. You can definitely set up a PayPal account in Saint Kitts & Nevis with your residential address elsewhere (the business address has to be there yes). I even went through the steps, I didn't even need to call them, I should have just tried myself first.
Direct from PayPal they said it's possible. Unless it's different with a personal account. But I was only asking them about a business account.
Its now ok with paypal for a nevis setup because Nevis now levies 33% corporate tax and isn't included in the graylist.
Maybe, but the issue is Nevis is technically not a tax haven anymore, they have a corporate tax in place (though for nevis generating incomes and not worldwide).
The real issue, I think would be getting a bank account for your Nevis ibc. Its rare to get a proper bank account. EMIs do work.
Thank you for the advice but I don't need a Nevis bank account. EMIs work best for many reasons.
Not sure why not being a tax haven is an issue? Seems like a good thing to me.
99.9999% of people choosing Nevis for setting up an offshore company will not be deriving income from within Nevis. So it's 0% tax as far as most / I'm concerned.
Best of luck OP. Please post back how it goes. I still have my doubts, but I hope you prove me wrong. If a simple Nevis company can be setup with an EMI and you can get a paypal that is not closed within 30 days that is fantastic news for many here you would like the privacy and 0% of Nevis with paypal.
Yeah its possible. There are setups working out for past 6 months and there are no problems as of yet. Nevis with EMI is working for crypto cashout from Kraken, but haven't tried it out with Paypal.
Kraken accepts fiat in a company name / not in your personal KYC verified name?
(I like to get in the habit of putting temporary funds in a 12% pa stable coin savings account (TUSD etc) and have been having problems with my preferred crypto provider).
yes they do, but the senders name must be the same as of your kraken account.
You may consider to approach ABC Bank Mauritius once your company is setup, they may work with Nevis companies.
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