Wyoming LLC - What solution for bank and paypal to avoid reporting to my local authorities?
- Thread starter kengan
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You can sell to USA people as long as the 'service' is provided outside of USA.
Further more you mush not have 'significant' presence in USA , like people who work almost exclusively for you ...
So if you are not from USA , and provide digital service from outside of USA you are safe.
This is according to a few cpa who I talked to..
Further more you mush not have 'significant' presence in USA , like people who work almost exclusively for you ...
So if you are not from USA , and provide digital service from outside of USA you are safe.
This is according to a few cpa who I talked to..
Interesting: UK LTD company, bank account, registered address, PayPal business account & non-resident director
"So, I spoke to PayPal UK support today, and they state that there is no problem for a director of a UK company to be non-resident in the UK and to continue to manage the company PayPal account. You need to update your residential/home address with Companies House, and then do the same with your residential/home address︀ held by PayPal."
Maybe they changed the rules?
"So, I spoke to PayPal UK support today, and they state that there is no problem for a director of a UK company to be non-resident in the UK and to continue to manage the company PayPal account. You need to update your residential/home address with Companies House, and then do the same with your residential/home address︀ held by PayPal."
Maybe they changed the rules?
If they have all is good, I will take this link to PayPal in my country and ask them to activate the UK PayPal account we have opened for some time ago but which they don't wanted to verify nor accept.
Thank you very much for this information, let's hope it will help. My fear is that they will say it is different from country to country, but lets see.
Thank you very much for this information, let's hope it will help. My fear is that they will say it is different from country to country, but lets see.
okay Will call PayPal and see that they say. For banking options tw and payoner don't accept my business. Did anybody try Mercury?
What exactly does this mean?
"You need to update your residential/home address with︀ Companies House, and then do the same with your residential/home address held by PayPal."
I don't get what to update, I know PayPal is country specific and if you open︁ a us account you can only add us address to it?
What exactly does this mean?
"You need to update your residential/home address with︀ Companies House, and then do the same with your residential/home address held by PayPal."
I don't get what to update, I know PayPal is country specific and if you open︁ a us account you can only add us address to it?
What if all your customers are US people and you hire 1000 part time US people to sell your products? You still owe 0 tax to the IRS?
I think in that case you have 'significant' US presence and you will have to pay tax. You should check with certified CPA , I asked for my specific situation...
Further more a part of your operation is based in USA ... So I think there's slim chance you wouldn't get taxed.
Further more a part of your operation is based in USA ... So I think there's slim chance you wouldn't get taxed.
Damn. Does the UBO/director hold an EU passport & residency? I want to set up a UK Ltd for payment processing but it looks like that won't be possible...
Yes EU owners and shareholders, legit business no issues at all. But they are not from the UK so PayPal has limit the account!
Damn they are still doing this????
I agree it already happened to me in past with US LLCs and EU shareholders. They started doing this since maybe 2 years once OECD and EU started to clamp things. Try everything you can to not use paypal, at least not directly. They will limit the account or block the funds and ask for lots of papers... and it's going to take months to free the funds.
I agree it already happened to me in past with US LLCs and EU shareholders. They started doing this since maybe 2 years once OECD and EU started to clamp things. Try everything you can to not use paypal, at least not directly. They will limit the account or block the funds and ask for lots of papers... and it's going to take months to free the funds.
I was told that paypal doesn't care much as long as montlhly amounts coming in at paypal / being transfered to a personal bank account do not exceed 9999 euro per month, as everything about 10.000 euro per month is reported. Is this information not correct ?
NO. Their algorithms are secret ane very complicated. Law requires report any suspicious transaction or balenc in amount from 1000 USD.
PayPal limit US︀ business account if you do not provide EIN for the company and SSN / ITIN︁ for LLC members. If LLC is a single member LLC, it is declared as a︂ sole proprietor. PayPal requires this person to have SSN or ITIN.
Non US residents who︃ has never lived in the USA can not have SSN. It is possible to have︄ ITIN. But it is not possible on a single member LLC. You need to have︅ at least 2 members in LLC to be able obtain ITIN. More than 1 member︆ in LLC is considered to be a partnership. If someone has in a partnership in︇ US, is eligible for ITIN. But if you have another partner in LLC, PayPal will︈ require ITIN for all members. Not a managing member, only. It is possible to go︉ around, But it takes some time, effort and money..
BoA requires IEN for︌ a company and SSN or ITIN for each LLC member. Each financial institution in the︍ USA is required by the law to know it.
PayPal limit US︀ business account if you do not provide EIN for the company and SSN / ITIN︁ for LLC members. If LLC is a single member LLC, it is declared as a︂ sole proprietor. PayPal requires this person to have SSN or ITIN.
Non US residents who︃ has never lived in the USA can not have SSN. It is possible to have︄ ITIN. But it is not possible on a single member LLC. You need to have︅ at least 2 members in LLC to be able obtain ITIN. More than 1 member︆ in LLC is considered to be a partnership. If someone has in a partnership in︇ US, is eligible for ITIN. But if you have another partner in LLC, PayPal will︈ require ITIN for all members. Not a managing member, only. It is possible to go︉ around, But it takes some time, effort and money..
BoA requires IEN for︌ a company and SSN or ITIN for each LLC member. Each financial institution in the︍ USA is required by the law to know it.
I wonder why you refer to the US when I talk about my︃ experience with the UK? It makes absolutely no sense.
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