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How to Find: Offshore Bank Account + Verified PP (same country) + Tax Advise

Discussion in 'Business & Tax Advice' started by safekeys, Jul 28, 2013.

  1. safekeys

    safekeys Newbie

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    PayPal Advise
    What I Need?
    - A foreign Verified Paypal Account (I live in the US)
    - Offshore Bank Account

    (I need Both of these to be in the same Country for obvious Reasons)
    What is the Best way to find a trusted source an offshore bank account?
    More Importantly. How do I find a offshore account in the same country as the VPP?

    Should I look for the VPP first, then see if they have trusted offshore Banks?
    Or, Should I find a trusted offshore bank, then begin looking for a VPP in that country.


    My Assumption?
    - I am assuming that I am able to withdrawal money from a VPP into this Offshore Bank Account
    (paypal does not see the name on the bank account - only RN and AN - this is fact, do not argue plz)
    - I am assuming that I am then able to send money from My Offshore to my Account here in the United States Legaly
    (are the assumptions correct)

    Tax Question
    - How Would I declare these Wires from Offshore To US Bank Account for Taxes?

    ( all of this because I sold stupid CD Keys as a Child, Banned from Paypal forever )


     
  2. Roparadise

    Roparadise BANNED BANNED

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    Couldn't you just get a llc and a ein and open a paypal that way?
     
  3. E=MC²

    E=MC² Junior Member

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    -If you're talking about a considerable amount of money, I think you should go with a swiss bank account, they usually require you to actually be there to open the account, and you need to deposit 10 grand maybe (I don't really remember how much though) to keep the account open, if not, I really have no idea what you should use.
    -After you get the bank account, use a proxy to create the paypal and verify it (if it's the swiss you're going with, just create it when you're there)
    -I'm not from US so I don't know what are the taxes regulations.
     
  4. safekeys

    safekeys Newbie

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    Unfortunately Even with an llc and business Paypal account, there has to be a registered account holder. In the United States where I live they Require a Social Security Number for tax information. I am having no problem registering Verified PP's here in the United States. My worry is.. I am using Friends of Mine (and this is my first year doing this).... I do not want to pay taxes on this money twice, Under their earnings and mine.
     
  5. Alpha.

    Alpha. Power Member

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    Location:
    Europe... No Borders? No Worries!

    Oh so you saw a movie where they use a Swiss bank account did you?

    The Swiss anonymous number accounts were shut down 10 (yes ten...) years ago! Switzerland is one of the front-row countries when it comes to anti money laundering nowadays... They share all their knowledge with tax departments world wide, so NO don't use a swiss account... don't use cyprus either...

    If you need paypal, you could go the route of using a Hong Kong IBC + paypal and payoneer
     
  6. infoasian

    infoasian Supreme Member

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    Swiss banks do not open accounts for US citizens anymore unless you are given a personal introduction. Anyhow, PP will always ask for a passport copy of beneficiaries or owners/managers sooner or later no matter what country.