Company Structure that works?

[CAKEBRAINS]

Hello,

I would like to have a offshore company in a 0% tax jurisdiction such as BVI, Seychelles, Belize etc.

My main concern is that i need some form of web-payments preferably Stripe, PayPal or 2Checkout that's reliable, I would like to have two methods as one could fail.

I can not register a off-shore company in the following countries so please do not suggest them, USA, CANADA, UNITED KINGDOM, MOST OF EUROPE as i sell services globally in the countries.

I have a budget of around $4000 to setup all the documents, bank accounts and everything and looking for the lowest renewal price.

I am not creating the off-shore company to avoid any taxes, I am happy to pay all the necessary income / corporation taxes however i would much prefer a location outside of the VAT zones so that i do not have to put my website prices up by 20%.

The bank account / merchant card processor needs to be able to process payments in USD.

I would also like a location that requires very little accounts or submissions so that i can focus mainly on my work.

I am based in the United Kingdom, As far as my accounts taxes and vat returns go i'm currently paying £3600 annually for my accountant and forming an off-shore company will remove all the hassle away as i can just use end of year figures instead of going through every single expense, profit, loss, claim, vat payment and all the other bull s**t when filing accounts, returns etc in the United Kingdom.

 

[CAKEBRAINS]

Further to this, Does anyone know any bank accounts that work with USD and what countries are they linked to for off-shore companies?

 

[lavel]

It is not going to work that way, you need to find a payment service provider that accept thise jurisdictions and most will reject. BVI may work with some providers, but again ask them and find them here https://www.offshorecorptalk.com/resources/categories/payment-service-provider.4/

For banking and USD you can use either Transferwise or https://www.offshorecorptalk.com/resources/zenus.311/

both may work with BVI.

Once you have setup the BVI company you can change the ownership to a UK LTD or LLP or whatever suites you and transfer your profits tax free between the entities. You won't get this setup for 4000$ unless you can setup banking yourself.

 

[Spinat]

As an alternative to what @lavel has already suggested, you could set up a company in Georgia, it's cheaper and easier. You can find some service provider in the RESOURCE section for this they can set up a bank account for you and also allow a PayPal account. Either you have to travel to Georgia or you have to give them a power of attorney which can be risky.

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[CAKEBRAINS]

lavel said:
It is not going to work that way, you need to find a payment service provider that accept thise jurisdictions and most will reject. BVI may work with some providers, but again ask them and find them here https://www.offshorecorptalk.com/resources/categories/payment-service-provider.4/

For banking and USD you can use either Transferwise or https://www.offshorecorptalk.com/resources/zenus.311/

both may work with BVI.

Once you have setup the BVI company you can change the ownership to a UK LTD or LLP or whatever suites you and transfer your profits tax free between the entities. You won't get this setup for 4000$ unless you can setup banking yourself.
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Hello,

I need to know if any of the mentioned Payment Gateway's are able to be used with a BVI or Georgia off-shore company, Which ones do you know work and what bank account providers are you using.

 

[lavel]

PayPal works with Cyprus, BVI and Georgia.
2checkout works with BVI, Cyprus
chronpay take it all
Netbilling accept Cyprus and BVI
SagePay accept Cyprus and BVI
RBS worldPay accept Cyprus, BVI and Gerogia

As already mentioned to you a few times in your threads. Go and approach some of them to make sure you get the right solution.

 

[CAKEBRAINS]

I have approached some of them.

PayPal customers in the British Virgin Islands can use PayPal to send money but are unable to receive money into their PayPal account, PayPal in georgia is great but it requires a personal visit as i can not trust a nominee and in this climate i'd rather not travel to georgia for any reason,

Looking for something that can be setup within the next week or so.

2checkout has a huge reputation of blocking people for no reason, Have read numerous messages online.

Chronopay i will take a look into, along with netbilling.

SagePay do not accept off-shore entities and only allow you to register if you supply your passport and then won't allow an off-shore company.

RBS WorldPay i will look into.

 

[CAKEBRAINS]

@lavel

My research on this is far and wide and i need to understand everything before i risk my money off-shore especially in my line of work.

This PayPal User Agreement applies to you if you reside in one of the countries/regions listed below. You are required to register your PayPal account in the country/region in which you reside.

PayPal service availability varies by country/region. Please see below to determine which services are available in your country/region of residence.



Countries/Regions with the ability to send and receive payments:
If you reside in one of these countries/regions, you have the ability to send and receive payments.

• Andorra
• Argentina
• Bahamas
• Bahrain
• Bermuda
• Botswana
• Cayman Islands
• Chile
• China
• Colombia
• Costa Rica
• Croatia
• Dominican Republic
• Ecuador
• El Salvador
• Faroe Islands
• Georgia
• Greenland
• Guatemala
• Honduras
• Hong Kong SAR, China
• Iceland
• India
• Indonesia
• Israel
• Jamaica
• Japan
• Jordan
• Kazakhstan
• Kenya
• Kuwait
• Lesotho
• Malaysia
• Mauritius
• Mexico
• Moldova
• Monaco
• Morocco
• Mozambique
• Oman
• New Zealand
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• Norway
• Panama
• Peru
• Philippines
• Qatar
• Saudi Arabia
• Senegal
• Serbia
• Singapore
• South Africa
• South Korea
• Taiwan
• Thailand
• United Arab Emirates
• Uruguay
• Venezuela
• Vietnam

Countries/Regions with the ability to send and receive payments and have Automatic Transfer:
If you reside in one of these countries/regions, you have the ability to send and receive payments. In addition, PayPal will automatically transfer your PayPal balance to your US bank account or credit card on a regular basis.

• Albania
• Algeria
• Antigua and Barbuda
• Barbados
• Belize
• Bosnia and Herzegovina
• Dominica
• Egypt
• Fiji
• French Polynesia
• Grenada
• Malawi
• New Caledonia
• Palau
• Saint Kitts and Nevis
• Saint Lucia
• Seychelles
• Trinidad and Tobago
• Turks and Caicos Islands

Countries/regions with the ability to send payments:
If you reside in one of these countries/regions, you have the ability to link a credit card to your PayPal account and send payments. You do not have the ability to receive payments.

• Angola
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• Armenia
• Aruba
• Azerbaijan Republic
• Belarus
• Benin
• Bhutan
• Bolivia
• British Virgin Islands
• Brunei
• Burkina Faso
• Burundi
• Cambodia
• Cameroon
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• Chad
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• Congo, Democratic Republic of
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• Cook Islands
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• Papua New Guinea
• Paraguay
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• Rwanda
• Saint Helena
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• Saint Vincent and the Grenadines
• Samoa
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• Sierra Leone
• Solomon Islands
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• Sri Lanka
• Suriname
• Svalbard and Jan Mayen
• Swaziland
• Tajikistan
• Tanzania
• Togo
• Tonga
• Tunisia
• Turkmenistan
• Tuvalu
• Uganda
• Ukraine
• Vanuatu
• Wallis and Futuna Islands
• Yemen
• Zambia
• Zimbabwe

 

[JohnLocke]

PayPal will always be the most troublesome of them all to get to work in such a setup with an offshore company. However, there are solutions to it and sometimes I have learned, it is a really good idea to call PayPal's support and explain to them what it is you want. Often they can help and get something approved that is not on their side.

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