Hi,
I'm glad to be part of this group. I've already learnt a lot but that's only the tip of the iceberg. One thing I've noticed if most people's situations are specific and require different solutions. I could read forever but still think I'd struggle to determine best solution for me. I think I'd miss a few things and make rookie mistakes to.
Here's my situation:
1. I'm soon to launch an adult website. I reside in Australia.
1. My main motivation for going offshore is I can't get a reputable payment gateway in my own country (Australia). Mastercard and Visa just don't seem to want to play ball here. The only real options are Zombaio and Veretel, both of which I'm reluctant to partner with due to poor reputation for non-payment. CCBill, EMB, SecurionPay etc - they all require you to have business and banking in Europe.
So unless anyone knows a reputable IPSP that can process Visa and Mastercard in Australia, it looks like my best option might be setting up a company in Europe. (also not keen on redirecting to another website to process payment).
2. Privacy. My website is legal. I'm not on any matched lists or anything. I don't believe I need to be anon (let me know if I'm overlooking anything).
3. Company and Tax. Not a top priority. A company structure where I can pay myself all profit as salary and pay $0 tax would be ideal. I would then have to pay income tax on that in Australia.
4. Banking. I'm not in a position to fly to Europe and open an account. I would need to use a borderless account such as Transferwise. Or is there somewhere I can set up without being there?
I'm also unclear on this:
a. I set up a company in a European country. I don't live there. I don't do business there. I take all the money out as a salary. What's in it for them? Are they ok with this?
b. Do I need to hide that my main business is an adult website? I assume it depends on what country. Can I just say I do something else? Would I need a dummy website?
c. What about a provider to run admin? There's a group called LeapIn who do this for peole with e-residency and Estonian companies. If I use one of these, how do I hide what I do? They would have access to TransferWise and can see payments from my IPSP. Will they ever ask, "where is your payment gateway"? i.e. would I need a dummy site with a payment gateway in case they check?
d. TransferWise. Has anyone ever set up with them before? Do I need to be discreet about my business with them?
If anyone can shed some light, I'd really appreciate it. I know to an experienced reader the answers are already in the threads but for a novice like me it's hard to understand the nuances in context.
I'm glad to be part of this group. I've already learnt a lot but that's only the tip of the iceberg. One thing I've noticed if most people's situations are specific and require different solutions. I could read forever but still think I'd struggle to determine best solution for me. I think I'd miss a few things and make rookie mistakes to.
Here's my situation:
1. I'm soon to launch an adult website. I reside in Australia.
1. My main motivation for going offshore is I can't get a reputable payment gateway in my own country (Australia). Mastercard and Visa just don't seem to want to play ball here. The only real options are Zombaio and Veretel, both of which I'm reluctant to partner with due to poor reputation for non-payment. CCBill, EMB, SecurionPay etc - they all require you to have business and banking in Europe.
So unless anyone knows a reputable IPSP that can process Visa and Mastercard in Australia, it looks like my best option might be setting up a company in Europe. (also not keen on redirecting to another website to process payment).
2. Privacy. My website is legal. I'm not on any matched lists or anything. I don't believe I need to be anon (let me know if I'm overlooking anything).
3. Company and Tax. Not a top priority. A company structure where I can pay myself all profit as salary and pay $0 tax would be ideal. I would then have to pay income tax on that in Australia.
4. Banking. I'm not in a position to fly to Europe and open an account. I would need to use a borderless account such as Transferwise. Or is there somewhere I can set up without being there?
I'm also unclear on this:
a. I set up a company in a European country. I don't live there. I don't do business there. I take all the money out as a salary. What's in it for them? Are they ok with this?
b. Do I need to hide that my main business is an adult website? I assume it depends on what country. Can I just say I do something else? Would I need a dummy website?
c. What about a provider to run admin? There's a group called LeapIn who do this for peole with e-residency and Estonian companies. If I use one of these, how do I hide what I do? They would have access to TransferWise and can see payments from my IPSP. Will they ever ask, "where is your payment gateway"? i.e. would I need a dummy site with a payment gateway in case they check?
d. TransferWise. Has anyone ever set up with them before? Do I need to be discreet about my business with them?
If anyone can shed some light, I'd really appreciate it. I know to an experienced reader the answers are already in the threads but for a novice like me it's hard to understand the nuances in context.
