E-residency is a bust. Where else?

[Bartos]

Hi All,

I've done a lot of reading but can't quite find the specific information so need some to help me!

I'm based in Australia and am about to launch an adult site. The only payment gateways I can use here are Zombaio and Veretel. I've done research on both and the overwhelming advice is that you're lucky if they give you your money at all.

My preferred option was to set up a company in Estonia and use LeapIn with TransferWire. LeapIn knocked me back because the business I said I was going to have was restricted in Estonia and need licensing. I've applied for an e-residency but that will get knocked back. I read a lot of stuff on e-residency but never saw my business on a restricted list.

I there another option in Europe? If I can register a business somewhere and get a TransferWire bank account then I can use a number of IPSPs.

My last resort is a dummy site with a redirection. This is risky because if I get a chargeback from someone who discloses what they bought and where from, the IPSP will give me the boot.

Can anyone help me out here? Does anyone have experience with e-residency? Can I change what my business is for? Is there another Euro country I should be looking at?

 

[Martin Everson]

Not sure why you think an Estonia company or any company for that matter will help you get payment processing or banked for an adult site conf/(%.

You need to find the processor/emi/bank first and then work out what structure they can work with for you to be a customer. What's your reasoning for choosing an Estonia Company? E-residency is just a digital signature that you are who you say you are when interacting with government and some third party providers services and nothing more - I have it already.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[LucyOffshore]

The problem is not your country or e-residency. You are looking in the wrong place.

 

[Bartos]

Martin Everson said:
Not sure why you think an Estonia company or any company for that matter will help you get payment processing or banked for an adult site conf/(%.

You need to find the processor/emi/bank first and then work out what structure they can work with for you to be a customer. What's your reasoning for choosing an Estonia Company? E-residency is just a digital signature that you are who you say you are when interacting with government and some third party providers services and nothing more - I have it already.
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Because the main payment gateways that cater for high risk don't offer their services in Australia. PaymentCloud, SecurionPay, EMB etc don't offer their services in Australia. I assume this is because local merchants will not come to the party.

If I have a company in Europe, Hong Kong or Singapore, then I can get a payment gateway. This is why I wanted an e-residency - so I could set up an Estonian company and get access to a payment gateway.

In Australia my only options are Zombaio and Veretel - both of which have 90% of reviews saying they have been underpaid (by a lot) or not paid at all.

Is there a flaw in this thinking that you can see?

 

[Bartos]

LucyOffshore said:
The problem is not your country or e-residency. You are looking in the wrong place.
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Are you able to tell me where I should be looking?

 

[JohnLocke]

You may check payment processors like CCBILL, Epoch Systems, Verotel and similar for Adult payment processing, they are the leader in this industry. Most often you can use a simple UK company or other EU entity to apply for an account.

Bartos said:
Are you able to tell me where I should be looking?
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I assume the point is that there are payment processors around this forum and you may check their signatures.

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[Bartos]

Admin said:
You may check payment processors like CCBILL, Epoch Systems, Verotel and similar for Adult payment processing, they are the leader in this industry. Most often you can use a simple UK company or other EU entity to apply for an account.

I assume the point is that there are payment processors around this forum and you may check their signatures.
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CCbill - does not process Visa and Mastercard in Australia
Epoch Systems - also does offer a service to Australia. Also have a very poor reputation
Verotel - they do Australia but they have a poor reputation


The link in the signature - can't find any reviews, limited information on website. Not enough information to consider it.

You mentioned "a simple UK company or other EU entity to apply for an account". One of my initial questions is, "is there another country in Europe I should be looking at? Which one? Why?

 

[TurnedToRobot]

OP there is a huge thread on this forum which you may be interested in reading about estonian e-residency

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