I've read many posts and threads on this forum the last couple of days and all were pretty helpful. Now I'm looking for some advice or oppinion about the following structure I'm thinking about creating.
First of all my collegue and I run a couple of websites where we advertise sportsbooks and a few casinos through their affiliate system. I was thinking about opening an offshore company in Belize or Seychelles with a bank account in Cyprus. From what I've read on this forum, Cyprus banks might not accept this activity unless there are some contracts showing we only do advertising. My first question is, how do they know we're gambling related? Most affiliate programs operate as a separate entity from the main sportsbook or casino adn sometimes even we have trouble identifying who sent the money.
If we can create this offshore company with a bank account, we were thinking about opening a company in our home country that would work for the offshore company for a monthly fee (less, than the profit of the offshore company). This way we could have a salary, insurance etc. in our home country without anyone asking questions. The rest of the profits would stay in offshore bank accounts. It should work assuming the offshore banks are safe, right?
First of all my collegue and I run a couple of websites where we advertise sportsbooks and a few casinos through their affiliate system. I was thinking about opening an offshore company in Belize or Seychelles with a bank account in Cyprus. From what I've read on this forum, Cyprus banks might not accept this activity unless there are some contracts showing we only do advertising. My first question is, how do they know we're gambling related? Most affiliate programs operate as a separate entity from the main sportsbook or casino adn sometimes even we have trouble identifying who sent the money.
If we can create this offshore company with a bank account, we were thinking about opening a company in our home country that would work for the offshore company for a monthly fee (less, than the profit of the offshore company). This way we could have a salary, insurance etc. in our home country without anyone asking questions. The rest of the profits would stay in offshore bank accounts. It should work assuming the offshore banks are safe, right?
