Stripe and CRS for Eu citizens

[Btraveler]

Hello there guys,

I wanted to know how Stripe manages Privacy. I'm EU citizen and I have an LLC in Wyoming. Stripe has verified my business and also my Passport.

How do they work in terms of compliancy? I mean, who will disclosure to my EU home country that I'm using the USA LLC company, Stripe intermediary platform or should be my final destination banks accounts (I have in Mercury and also another in Transferwise, both linked to the Stripe account)?

 

[Sols]

I work a lot with payment processors. Not even the ones who are banks and open merchant accounts treat merchant accounts as reportable accounts under CRS/AEOI. They do collect all the information necessary to one day start reporting but for now, there are no indicators of payment processors reporting. I would be surprised if Stripe actually reported you, at the moment.

From what I have gathered, TransferWise doesn't report right now at all. EMIs are still not very high up on FATF and EU radars for reporting. But it will come. Just a matter of time.

Mercury is operating in a bit of a legal vacuum, and probably have no reporting requirement beyond normal transaction reporting under US law. Their partner bank (BBVA) might have an obligation to report you if there is an applicable, reciprocal FATCA IGA

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This is the probably the answer to your question.

 

[Spinat]

You get reported with Stripe and their associates don't believe that one of the largest world processors do anything to protect your privacy which can bring trouble to their doors!

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Specialized in advisory service for tailor made Offshore setups with banking and payment processing. Privacy and Anonymity is my priority.
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[Btraveler]

blueweb said:
You get reported with Stripe and their associates don't believe that one of the largest world processors do anything to protect your privacy which can bring trouble to their doors!
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So better to use advcash or perfect money, isn't it? But how to put an intermediary gateway in the website like Stripe or similar? I tell this because if I put directly in the website Advacash platform or perfect money platform for processing payments it's easy for the authorities to make a follow up of my business and me.

I don't intend to do anything ilegal, only I try to pay less taxes

 

[Spinat]

You want to use a bitcoin payment gateway like coinabse or similar to accept payments directly and online from your customers. From the BTC gateway you can withdraw the money to another wallet or directly to AdvCash so you are free home.

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Specialized in advisory service for tailor made Offshore setups with banking and payment processing. Privacy and Anonymity is my priority.
Contact

 

[Btraveler]

blueweb said:
You want to use a bitcoin payment gateway like coinabse or similar to accept payments directly and online from your customers. From the BTC gateway you can withdraw the money to another wallet or directly to AdvCash so you are free home.
Click to expand...

Hello @blueweb Yes, but for my legite services (web design, etc...) customers want to pay with visa or mastercard, not with bitcoin...