Onlyfans | Business Banking (EU)

[Gabriel8]

Hello guys.

I'm doing OF with my girlfriend and we are challenged by the banks. Her page is making good money and we had to switch from personal banking to business. But it's killing us.

- All locals bank are refusing her company
- Wise worked for sometime but shut her down
- Revolut worked for sometime but shut her down

Her company is currently with 0 bank. But has invoices to pay. As well as taxes obligations.

The company is supposed to be rich. But all funds are frozen. And all the new money made on the page is blocked on OF because we have nowhere to get paid.

What can be done? I'm looking at Paxum Business and Cosmo Business but it doesn't look good :

- Cosmo Business forces you to cashout in crypto. How are we supposed to pay taxes or the accountant with crypto? We need business bank account to use fiat and run the company properly.

- Paxum Business allow SEPA transfer. So invoices and taxes could be paid. But OF is refusing to send money there. Support is telling us they can only send money to personal paxum account ?! ?! ?! Is that true or am I dealing with a useless bot from OF support?

I'm also looking at YourSafe. Currently opening a business account. Hopefully it solves our issues. But even if it does, I don't want us to be reliant on just ONE bank. We need alternatives.

Really lost with the banking side of this industry. Any help to navigate this is welcome.

 

[streamghost]

How many local banks have you checked out?

I know a couple who do it through local bank even though they aren’t even residing in that country and just state that the company is a media company.

If you have different nationality to pull from that may be one way to go.

 

[BornAHustler]

Always say it's a social media management company, which it is.

Banks get weird if they find out it's 18+ content

 

[Gabriel8]

Always say it's a social media management company, which it is.

Banks get weird if they find out it's 18+ content

Opening the business account is not the issue.

It's either keeping it. Because once they see that we're making more than 100K a month, they look into us more deeply. New KYC, more questions, etc. Then they shut us down.


Or getting OF to accept the account. For example Paxum Business is perfectly fine with OF. We even told them during the opening process. But for some reason, OF is refusing to send money to the Paxum Business. They want a personal Paxum. Which make no sense. We can't operate from personal with so much money.

 

[RichMedusa]

Where are you guys from? I think Payoneer can be a temporary solution, as it is probably available for you

 

[redditino]

Opening the business account is not the issue.

It's either keeping it. Because once they see that we're making more than 100K a month, they look into us more deeply. New KYC, more questions, etc. Then they shut us down.


Or getting OF to accept the account. For example Paxum Business is perfectly fine with OF. We even told them during the opening process. But for some reason, OF is refusing to send money to the Paxum Business. They want a personal Paxum. Which make no sense. We can't operate from personal with so much money.

You need to read tos before banking somewhere . Any mainstream bank will debank you for Adult .

 

[Gabriel8]

Where are you guys from? I think Payoneer can be a temporary solution, as it is probably available for you

I think Payoneer is gonna be like the rest. Once they see how much we make, they will look into it and realise it's Fenix, OF, adult and shut us down. We are operating from Romania at the moment. But also wish to move. Tax rate is only interesting below 500K per year.

 

[redditino]

I think Payoneer is gonna be like the rest. Once they see how much we make, they will look into it and realise it's Fenix, OF, adult and shut us down. We are operating from Romania at the moment. But also wish to move. Tax rate is only interesting below 500K per year.

Why move ? Romania is one of the best countries for only fans.

 

[redditino]

I think Payoneer is gonna be like the rest. Once they see how much we make, they will look into it and realise it's Fenix, OF, adult and shut us down. We are operating from Romania at the moment. But also wish to move. Tax rate is only interesting below 500K per year.

You don't need to incorporate inside Romania . You are currently using a micro company I assume . You can just incorporate offshore and pay yourself dividends or salary . It just depends on your needs .

 

[Gabriel8]

Why move ? Romania is one of the best countries for only fans.

Tax rate is 16% and VAT is a nightmare. When I invoice the model's company, she has to pay VAT. Which she only getsback 3 months later. And by the end of the year, so much VAT is claimed back that it triggers a f*cking audit. I don't wanna deal with this shit every year.

You don't need to incorporate inside Romania . You are currently using a micro company I assume . You can just incorporate offshore and pay yourself dividends or salary . It just depends on your needs .

Any developed country has created some sort of cfc rules to prevent that. What matters is not where you're incorporated. But from where you manage the company.

 

[dekadent30]

Romania is great for onlyfans. Andrew Tate do the same in this country but on bigger scale

 

[Gabriel8]

Romania is great for onlyfans. Andrew Tate do the same in this country but on bigger scale

Maybe it is great. But how do I bank properly ?

Local bank, Wise, Revolut shut us down.
OF refuses to pay to Paxum Business.
Cosmo pays in crypto but I need at least one business fiat bank account to pay taxes.

 

[redditino]

Romania is great for onlyfans. Andrew Tate do the same in this country but on bigger scale

Andrew tate is a fool/scammer .

 

[Gabriel8]

That doesn't matter . I don't suggested tax evasion . It matters how the company is treated. For example an smllc is tax transparent . So you would only pay income tax in romania .

Right now, I'm not optimising for taxes. I'm just looking for a solution to actually move the money from OF to the company. How can I do that? I thought I was good with Paxum Business. But it doesn't work.

 

[KillTox]

Just sent a PM

 

[dekadent30]

Better tell us how your girlfriend has reached 100k/month? Is it hard? How long it took? Where do you promote her? I'm promoting one model and got nice results from just 50 subscribers. She pays me 40% of her earnings. But not even close to your results.
To withdraw just start an modeling/advertisment agency and let your lady pay you for advertisment as and individual. Is she able to withdraw the money to her ank account as a private person , not a company?

 

[redditino]

Better tell us how your girlfriend has reached 100k/month? Is it hard? How long it took? Where do you promote her? I'm promoting one model and got nice results from just 50 subscribers. She pays me 40% of her earnings. But not even close to your results.
To withdraw just start an modeling/advertisment agency and let your lady pay you for advertisment as and individual. Is she able to withdraw the money to her ank account as a private person , not a company?

He will still have an banking problem .. Can you read the thread ?

 

[TaxesRuinMyLife]

You don't need to incorporate inside Romania . You are currently using a micro company I assume . You can just incorporate offshore and pay yourself dividends or salary . It just depends on your needs .

I'll just borrow the thread to quote this redditino.

I currently have a business in Romania which is just a hobby project for now bringing in 1-2k USD a month. I'm also getting sick of VAT, incompetent accountants and CIT at 16 percent every quarter. I sell adult related products but most of my customers are in English speaking countries. When I first started doing this, I thought of doing an LLC, but I realized I had two problems. 1, high risk processor and 2 banking.
Although I currently run with PayPal, but they have not taken a closer look at my account. Banking in Romania is super easy, they hardly ask any questions at all, so that was also easy. But if I decide to go the LLC route, is there any cloaking solutions? I've recently learned about cloaking, so I don't know that much about it. And also what about bank account? I've heard it's difficult to even get an EMI while being a non-resident let alone dealing in a high risk industry.

Also, are you sure about that you'll only have to pay dividend tax? From what I've read, the LLC can be considered a Romanian entity since I run the business from Romania, although I have no customers at all here.

And what about accounting and sales tax?

This forum looks great by the way.

 

[redditino]

I'll just borrow the thread to quote this redditino.

I currently have a business in Romania which is just a hobby project for now bringing in 1-2k USD a month. I'm also getting sick of VAT, incompetent accountants and CIT at 16 percent every quarter. I sell adult related products but most of my customers are in English speaking countries. When I first started doing this, I thought of doing an LLC, but I realized I had two problems. 1, high risk processor and 2 banking.
Although I currently run with PayPal, but they have not taken a closer look at my account. Banking in Romania is super easy, they hardly ask any questions at all, so that was also easy. But if I decide to go the LLC route, is there any cloaking solutions? I've recently learned about cloaking, so I don't know that much about it. And also what about bank account? I've heard it's difficult to even get an EMI while being a non-resident let alone dealing in a high risk industry.

Also, are you sure about that you'll only have to pay dividend tax? From what I've read, the LLC can be considered a Romanian entity since I run the business from Romania, although I have no customers at all here.

And what about accounting and sales tax?

This forum looks great by the way.

You should use a srl as a holding for an us llc , you will have the tax advantage but also would profit from less bureaucracy. Vat depends if you are doing b2c or b2b , but you cant really escape vat . You could use stripe + cloaking and wise as an emi .

 

[TaxesRuinMyLife]

You should use a srl as a holding for an us llc , you will have the tax advantage but also would profit from less bureaucracy. Vat depends if you are doing b2c or b2b , but you cant really escape vat . You could use stripe + cloaking and wise as an emi .

Are you based in Romania? It sounds more bureaucratic to me, and if you have a SRL as a holding, you'd still have to find an accountant which is mandatory.

And I have read countless posts about any companies that you run yourself, which is incorporated offshore, will be treated as an EU one if you reside there.

I'm new to this forum, is there an option to DM someone?