Offshore solution for cloud/file hosting business

[Saska2014]

I'm in the cloud or file hosting business and I have a Belize IBC with a corporate bank account in Cyprus.
Following the Central Bank of Cyprus issued guidelines to Cypriot Banks for avoiding doing busines with "shell" companies,my corporate bank account has been terminated.
I am looking for best alternative for my business,having in mind i would need to open a merchant account for online card payments ,so I am thinking of :

1. Setting up a new corporate bank account in Belize (Heritage bank),with alternative second bank account in Mautitius.
2. Setting up a brand new offshore company in Cyprus + 2 corporate bank accounts,one in Cyprus or UK and one Mauritius.

But my essential question and doubts are :

• In the first case,I don't think i could get a merchant account for Belize company,so would I be able to use EMI for payment processing ( if yes,which one would accept Belize company)?
• In the second case,i doubt that abovementioned guidliness could affect Cypriot companies,thus i fear my corporate bank account could again be terminated? On the other hand i read that Cypriot corp. + Cypriot bank account are promissing for getting a good processing service.
  
• As a EU citizen,will I be obliged to pay any corporate or income taxes in my country?

I truly appreciate your help,and I find this forum very useful,so I want to thank everyone for your input here!

Many thanks in advance for your help!

 

[JohnLocke]

Saska2014 said:
Setting up a new corporate bank account in Belize (Heritage bank),with alternative second bank account in Mautitius.
Click to expand...

If this will work for you then we are many here that would be interested to know how you setup the account with one of the banks there.

Personally I'm looking into it right now but it's a very complicated process it seems for my business case.

Saska2014 said:
In the first case,I don't think i could get a merchant account for Belize company,so would I be able to use EMI for payment processing ( if yes,which one would accept Belize company)?
Click to expand...

Mister Tango seems to be the only valid solution right now.

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[Saska2014]

Admin said:
If this will work for you then we are many here that would be interested to know how you setup the account with one of the banks there.

Personally I'm looking into it right now but it's a very complicated process it seems for my business case.

Well, the process involves some paperwork,filling out forms about the company structure,purpose of the bank account,bank mandate authorization form etc. Of course a full set of notarized company documents along with CoGS for companies older than 12 months. All these docs + KYC docs are sent via email directly to heritage bank. After reviewing,they send wire instructions of your approved account to deposit 3000 $.. plus there's some 100 $ fee I think for submitting the application. They told me on chat it usually takes two weeks for initial approval. Don't know yet,as I am collecting some paperwork and haven't sent anything to them.

Mister Tango seems to be the only valid solution right now.
Click to expand...

Do they offer card payment processing or just bank transfer or MT wallet?
A 500 monthly fee for business account is applicable also,do you know that?

Thanks everyone again,and hope to hear other experienced opinions about my questions. Still can't decide what's best!

 

[Saska2014]

Well, the process involves some paperwork,filling out forms about the company structure,purpose of the bank account,bank mandate authorization form etc. Of course a full set of notarized company documents along with CoGS for companies older than 12 months. All these docs + KYC docs are sent via email directly to heritage bank. After reviewing,they send wire instructions of your approved account to deposit 3000 $.. plus there's some 100 $ fee I think for submitting the application. They told me on chat it usually takes two weeks for initial approval. Don't know yet,as I am collecting some paperwork and haven't sent anything to them.

About MT,do they offer card processing or just bank transfer or MT wallet?

 

[Suzy Emerald]

MT charges a 100 euro monthly fee and 300 euro set up for a BZ ('high risk') IBC. Not sure but I think getting a BZ bank account has higher chance of success and may go faster of using a local BZ agent. From the ones I approached, most dealt with Caye Bank, some with Heritage. There are 4 (?) offshore banks left on BZ if my count is right. I cannot find any info on Caye Bank site to see how they are capitalised (in the wake of the Choice drama). Heritage publishes his number and have around 200 million in assets, which is not a lot.