Offshore Bank Account For BVI

[DavidB]

Hi

We have a BVI company with a bank account in Mauritius however we are finding it very difficult to get a payment gateway to work with us for global business.

What is the best jurisdiction to get a bank account to do business globally, don't have to file annual tax reports and minimal taxes?

If there isn't for BVI - what is the best jurisdiction to set up a new company and bank account in with the same requirements as above?

Stripe atlas seemed like a good alternative but they paused processing for Non US citizens.

 

[JohnLocke]

What business are you into? is this a new business and if not what is the chargeback ratio? how much volume can you bring?

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[DavidB]

We have a credit report platform where we sell users their credit reports. The chargebacks are about 3%. We currently do a couple thousand transactions each month with plans to scale a lot over the next couple months. We also need to expand to different markets which means we need to get the global account open.

 

[Kievcash]

I recommend u to open a UK ltd and hold shares with BVI. Like that you can try apply gateway in Netherlands , and Baltic's.
This country's are more open for UK business.

Also 3 percent of chargeback is too much. Visa and MC set 1 and 1.5 percent max chargeback, if more acquirer will have fines and possibility of problems with visa and MC.

 

[JohnLocke]

Kievcash said:
I recommend u to open a UK ltd and hold shares with BVI. Like that you can try apply gateway in Netherlands , and Baltic's.
Click to expand...

the suggestion is good, however, you want to setup the UK company first and apply for the merchant account and once all is setup and approved you change the structure to include the BVI. Most payment processors, if not all, will request incorporation documents for all entities involved so if they already refused to do business with a BVI corp then your setup makes no sense.

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