USA LLC vs UK LLP for a Canadian digital course creator living in Montenegro

[Digital Canuck]

Hey guys, I was recommended this forum and was looking for some advice on an issue I'm trying to figure out. I sell online coaching and courses and need access to a payment processor for credit card transactions. I was told that a USA LLC or a UK LLP could act as a pass-through to my company in Montenegro. Here in Montenegro there are no payment processors that I can access to do online transactions. So my next step was to open up an LLC either in the USA or UK to be able to have access to better processing. However I run into issues as I can't use stripe or paypal because I need a payment processor that can deal with more "high risk" industries as my courses are sex education courses that, although educational, do contain some nudity. Some high risk payment processors that I spoke with mentioned that in order for Visa/MC to work there would need to be someone residing in the USA who will have signing authority for the company otherwise I would not meet VISA/MC physical presence rules. Firstly are there companies that offer a signing authority locally, or have any of you experienced something similar where you needed somebody else present inside of the USA to get processing? Is this easier to do in the UK? Any thoughts on the matter would be greatly appreciated, I'm not trying to get out of taxes, just trying to find a way to keep my business operational while residing here in Montenegro.

Thanks in advance!

 

[Offoffshore]

Non resident US LLC has very limited banking options these days is what I understand.

I'd be interested to know banking/payment processor solutions for non resident US LLC/UK LLP.

 

[JustAnotherNomad]

[IMG alt="Belfort"]http://localhost/data/avatars/s/35/35480.jpg?1727588617[/IMG]

Thread 'I tried opening a US business account in 18 EMIs, here's the result'​

Mar 9, 2024
I have a US LLC, am non-resident in the US, and signed up to 18 different EMIs.

This is the result after a week:

1. 3S Money - Asked for $20 to process my application + it charges $100 a month for having the account open
2. Airwallex - Approved
3. Brex - Rejected because I have no venture capital (startup focused apparently)
4. Currenxie - Doesn't offer services to US businesses
5. Juni.co - Doesn't offer services to US businesses
6. Mercury - Application still pending
7. Novel - Application still pending
8. Payoneer - Wants the withdrawal account to be in the LLCs name (no point...

• Belfort
• emi
• Replies: 136
• Forum: Offshore Bank & EMI Accounts

• 
• 

 

[Digital Canuck]

JustAnotherNomad said:
[IMG alt="Belfort"]http://localhost/data/avatars/s/35/35480.jpg?1727588617[/IMG]

Thread 'I tried opening a US business account in 18 EMIs, here's the result'​

Mar 9, 2024
I have a US LLC, am non-resident in the US, and signed up to 18 different EMIs.

This is the result after a week:

1. 3S Money - Asked for $20 to process my application + it charges $100 a month for having the account open
2. Airwallex - Approved
3. Brex - Rejected because I have no venture capital (startup focused apparently)
4. Currenxie - Doesn't offer services to US businesses
5. Juni.co - Doesn't offer services to US businesses
6. Mercury - Application still pending
7. Novel - Application still pending
8. Payoneer - Wants the withdrawal account to be in the LLCs name (no point...

• Belfort
• emi
• Replies: 136
• Forum: Offshore Bank & EMI Accounts

• 
• 

Click to expand...

Thanks brother! What about the credit card processor, not the EMI? Or were you just using stripe? I'll need a more high risk merchant processor of some sort.

 

[NobodySpecial]

Digital Canuck said:
Hey guys, I was recommended this forum and was looking for some advice on an issue I'm trying to figure out. I sell online coaching and courses and need access to a payment processor for credit card transactions. I was told that a USA LLC or a UK LLP could act as a pass-through to my company in Montenegro. Here in Montenegro there are no payment processors that I can access to do online transactions. So my next step was to open up an LLC either in the USA or UK to be able to have access to better processing. However I run into issues as I can't use stripe or paypal because I need a payment processor that can deal with more "high risk" industries as my courses are sex education courses that, although educational, do contain some nudity. Some high risk payment processors that I spoke with mentioned that in order for Visa/MC to work there would need to be someone residing in the USA who will have signing authority for the company otherwise I would not meet VISA/MC physical presence rules. Firstly are there companies that offer a signing authority locally, or have any of you experienced something similar where you needed somebody else present inside of the USA to get processing? Is this easier to do in the UK? Any thoughts on the matter would be greatly appreciated, I'm not trying to get out of taxes, just trying to find a way to keep my business operational while residing here in Montenegro.

Thanks in advance!
Click to expand...

You may want to setup in Canada. You can probably much more easily make it look like you're at least part time resident there. And it would give you access to a lot of options.

There are many options for high risk businesses, but they vanish when you aren't resident in the G20 or your volume is sub $10MM per month.

Is crypto an option?

 

[Digital Canuck]

NobodySpecial said:
You may want to setup in Canada. You can probably much more easily make it look like you're at least part time resident there. And it would give you access to a lot of options.

There are many options for high risk businesses, but they vanish when you aren't resident in the G20 or your volume is sub $10MM per month.

Is crypto an option?
Click to expand...

Crypto isn't an option, I sell digital courses so i need access to standard Visa/MC processing. Using stripe at the moment but if they found out they'd likely shut me down, which is unfortunate because my business is clean, no chargebacks, everything on the up and up.

 

[Offoffshore]

Can I ask what residence program did you use to move to Montenegro?

 

[Digital Canuck]

Offoffshore said:
Can I ask what residence program did you use to move to Montenegro?
Click to expand...

The easiest is just to open up a company. You apply for the borovak, and the process is relatively fast and easy. Essentially you own the company and then hire yourself to work for it, hence you get the work permit. You can also get residency here through real estate but the easiest is the company formation route.

 

[redeye]

If you are into some sort of Adult, you have Verotel, CCBILL and Epoch as the big players that could possibly work out well for you.

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Only the early bird catches the worm.

 

[CyprusLawyer101]

Set up a Cyprus company as a payment agent to your Montenegro company. We have already set up numerous similar arrangements and we find card processors in the EU easily accepting such structure. We also have a few brick and mortar banks in Cyprus who have accepted it. Taxes would not be an issue. Let me know if you would like to discuss this and I can send a DM.

 

[Offoffshore]

redeye said:
If you are into some sort of Adult, you have Verotel, CCBILL and Epoch as the big players that could possibly work out wel
Click to expand...

CyprusLawyer101 said:
Set up a Cyprus company as a payment agent to your Montenegro company. We have already set up numerous similar arrangements and we find card processors in the EU easily accepting such structure. We also have a few brick and mortar banks in Cyprus who have accepted it. Taxes would not be an issue. Let me know if you would like to discuss this and I can send a DM.
Click to expand...

Can you send me a price range for this arrangement?