Music Marketing Company with Seychelles, Payment Gateway Problems.

[Decanl]

Hi guys, as the title says, I have Music Marketing Company registered in Seychelles with a combination with Bank Account in Dubai- we are using Ari Global (ACCOUNT RECEIVABLES INTERNATIONAL ) my apoligies if I can't post links.

So basically we are being refused by every single payment processor, be it PayPal, 2Checkout, Stripe, Square, Wix Payments, Paddle, WireCard, BrainTree etc.
As I personally understand the problem is with Seychelles rather than the business module itself.

What structure would you suggest for me to take a look at? I need the payment gateway back up running ASAP we are loosing money because of this, website payments is not working and half of the clients doesn't understand how transfers/wire works.

I do have a transferwise business account if that changes something.

I'm open for discussion, help and criticism.

 

[John Andrews]

Set up a shell UK LTD company (dormant) and apply for Stripe. The account will‌ most likely be approved automatically. Then go ahead and link the TW IBAN you already‍ have with the Stripe account 🙂

Tested this myself with a slightly different setup (yes, payouts⁠ work as Stripe doesn't check the name of the bank account owner).

 

[moneyrequired]

TW Business Account is very unstable solution as I read on this forum.

 

[John Andrews]

Well, I assume it's more unstable if the jurisdiction of your company is Seychelles instead‌ of some EU country. Either way I don't receive lots of $$$ this way but‍ mostly via PayPal. In regards to OP, I guess any IBAN can be used (from⁠ any EMI) as long as the bank country is allowed by Stripe.

 

[Decanl]

Can you please explain more about this?

Why is it⁣ unstable solution? Please advise.

 

[Decanl]

Sorry for double post.

I do have an access to different EMI banks⁤ too, N26, TransfwerWise, Revolut, Monese.

I need a stable option as our monthly volumes ranging⁣ from $5000-$25,000 per month, I can't afford to get my accounts limited or any of⁢ other stuff as this is PR Business and we are mostly working with money received︀ from clients.

 

[Decanl]

I also have a private Stripe Account which is connected to N26 currently to work‌ with some clients, but I know that the days are being counted until the permanently‍ limit my account until I hit their limits.
The account is verified but it's as⁠ a private account rather than business account.

 

[moneyrequired]

One of few examples which you can find on this forum:‍
https://www.offshorecorptalk.com/th...ghts-about-transferwise-now.26828/post-104954

 

[moneyrequired]

I can't edit above post. Sorry for double posts, but this could be helpful for‌ you
https://www.offshorecorptalk.com/threads/transferwise-closed-3-business-accounts-for-me.26413/

 

[Decanl]

Earlier today while browsing the forum I seen that someone was suggesting to try PayOp‌ processor that they accept offshores etc.
They did accept mine and it was quick, actually‍ it was too quick that it makes me worried if they are legit?
Googling doesn't⁠ show much information about them, which makes me very skeptical about using them.

Has anyone⁤ used them? Any feedbacks?

 

[James Blake]

Keep your structure as it is and︃ apply to: Ikajo - (Ikajo International )

 

[Decanl]

Will try them and keep you guys updated.
Do you have a similar structure?

 

[Decanl]

Update:
They don't support USA Market which is where my clients are coming from 95%‌ of the times.
Please, can anyone give any good suggestions?

 

[Marc Jacob]

Why don't you try bluesnap for US ?

note: so far Bluesnap doesn't process digital‌ goods

 

[Decanl]

I have tried to apply with them, waiting‍ on their response, 3 days in no response yet.

 

[brimstone]

Why exactly did you go with offshore structure? If you tell the reason others might‌ suggest a better setup that work with payment processors

 

[fshore]

In that case the UK LTD will not be dormant.

 

[John Andrews]

The UK LTD wouldn't receive any payments, it's just used to register with Stripe. Payments‌ will be deposited to the main/parent company.

 

[fshore]

If the stripe‍ account is in the name of the UK Ltd then it will receive payments.
You can invoice most of it to the Seychelles, to reduce profit in the UK but⁠ would still need to do accounting and file accounts etc.

 

[John Andrews]

The Stripe account IS in the name of the LTD but the bank account linked‌ is in the name of Seychelles, not the UK LTD.

The UK LTD has no‍ bank accounts and financially speaking receives no payments.

Not sure what's the legality of this⁠ though. Certainly isn't compliant with Stripe...