Offshore Account for US Corp with Gaming Income

[specialgame]

Sols said:
Are you an affiliate only for US operators?
Do the operators require you to be licensed?
Must the licensee be a US company?
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No worries. Regarding the questions: Yes, Yes, depends.

Problem is - license is expensive and took us months. If we'd go through this again with another company, it'd be a complete mess. In addition there is no guarantee, that companies outside the US are getting licenses. The prices are to be paid nevertheless.

"With UIGEA thrown into the mix, banks are hesitant to work with affiliates or anything that has connections to US and gambling. People often get around it by presenting themselves as digital marketing agencies but they run a risk of being caught being gambling affiliates. You will have a very hard time convincing a bank in Europe, Mauritius, or elsewhere to accept you."

That completely describes our situation. With these "lies" we're able to have EMI accounts. But we don't want to risk them by getting payments from operators on these accounts. That's why we're looking for legit accounts for that.

Regarding the bank opening in the US itself we'd have the chance to use a US resident for that (friend). But we're unsure how to get that person out of that account after opening it.

 

[Sols]

Is your friend a US citizen or green card holder? It's important he's not on some temp work or student visa.

Depending on what type of company you are (C corp or LLC), you can appoint your US resident friend as a director or manager ”“ someone empowered to enter into agreements for the company. Works best if it's a C corp, but should be doable for LLC. If they are a citizen or green card holder, they will have a much greater chance of success with banks.

If the account is opened with at least two signatories (the US person and you) and the instructions to the bank are that signatories can sign on their own, it would then be a relatively simple process to remove the person from the company after some time. Have them resign voluntarily. I wouldn't do it immediately; give it a couple of months. Just make sure you trust them and have made arrangements to reduce their powers in the company.

Not guaranteed to work of course, but that's one possible avenue worth exploring.

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This is the probably the answer to your question.

 

[specialgame]

It's a C Corp and he should at least be a green card holder if not a citizen. Thank you Sols, that's good info.

 

[Sols]

BTW, consider how adding another director/officer affects the license. You might need to inform the licensing authority. It's a fairly simple process for gambling operators, so shouldn't be a huge hassle for an affiliate.

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This is the probably the answer to your question.

 

[Elve]

The US operators do not use ewallet type Neteller, skrill etc for the deposits and withdrawals of their clients? The commissions of affiliates can not be recovered in an e-wallet in the name of your company?

Or the only way to receive the money is by bank transfer?

 

[specialgame]

Elve said:
The US operators do not use ewallet type Neteller, skrill etc for the deposits and withdrawals of their clients? The commissions of affiliates can not be recovered in an e-wallet in the name of your company?

Or the only way to receive the money is by bank transfer?
Click to expand...

No, US operators can't pay to eWallets. It has to be a bank account.