credit card account for BVI or Cyprus company what you know?

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sanches

sanches

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Aug 3, 2015
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I need credit card processing account for my business. They say I have to open EU company and it can be BVI or Cyprus, do you know what best is for opening company?


BVI is not cost so much as Cyprus what do you think is good for me?
 
If the only purpose is to obtain a merchant account for your business I would recommend you to go with a BVI company which is much cheaper than a Cyprus company to incorporate AND also to maintain on a annual basis.

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Do BVI requires book maintaining and tax submission?
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No you don't need that for a BVI company, there is no requirement what so ever for maintaining any accounting nor filing of financial tax report.

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What tax pay a BVI company please and I charge VAT ?
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There is no tax to be paid by a BVI offshore company! You can register the company for VAT if required but I would check your business model before I go that route.

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Thank you Admin, I only need company for credit card processing... money will go into Seychelles company later.
 
You can simply use the Seychelles corp as an Holding company then form the BVI company and let the Seychelles corp act director and shareholder of this BVI company. Best is to form the BVI company in your name first, apply for the merchant account once approved, replace everything with the Seychelles corp. In that way you avoid a lot of questions by the payment provider.
 
A BVI company may indeed be the best choice for your business reading your last post.
 
If your primary objects are the facilitating of credit card processing for your business a BVI company may be sufficient to achieve that, however, if you want to enter the EU and do business with other companies around (B2B) then you will want to have a closer look at Cyprus that is offering a lot more in trust towards your business partners compared to the BVI.
 
Depends very much on what it is you try to do! I would go with a BVI company, apply for my own merchant if business is accepted, apply for a 2co.com account as backup and a bitpay account so I would be all covered and could give a f**k for all the regulations around.
 
If you can use Skrill, Neteller and Bitpay I would rather use an offshore corp. with nominees etc. than a BVI or Cyprus company to accept credit card payments.

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Runners just do it. They run for the finish line even if someone else has reached it first.
 
You will find it less complicated and less expensive to form a BVI company for your purpose!
 
Nahhh, Cyprus Company if you have a real business you want to start in Europe just online! BVI if you have "test" business you don't know will Work, so it is less complicated and cheaper to maintain!
 
Yes I managed to get an fully verified 2co, skrill, bitpay and neteller account, all together are doing what I want still a little too expensive but for now and to grow my business it works fine for me.
 
Yes I managed to get an fully verified 2co' date=' skrill, bitpay and neteller account, all together are doing what I want still a little too expensive but for now and to grow my business it works fine for me.[/quote']
You decided not to proceed with a direct merchant account for your company? that would be cheaper in the long run.
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You decided not to proceed with a direct merchant account for your company? that would be cheaper in the long run.
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Maybe later, but to open a offshore account for cc processing for my company is too complicated at the moment.
 
Maybe later, but to open a offshore account for cc processing for my company is too complicated at the moment.
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May I ask who you have applied for to get the account?

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