1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Need advise for registering an EU/UK company as non resident

Discussion in 'Business & Tax Advice' started by MerchantAccount Help, Sep 9, 2016.

  1. MerchantAccount Help

    MerchantAccount Help Newbie

    Joined:
    May 7, 2016
    Messages:
    14
    Likes Received:
    0
    Hi,

    Posting on behalf of a friend. they have a US LLC and they are in Debt Consolidation and Energy (Gas and Power) business through call centres.

    They want to register a company in EU or may be a UK Company and on the basis of that company they will apply for a credit card merchant account with EU or UK banks.

    They are confused in which country to registered a company in. So, can you guys suggest which country is best to register a company in, esp when your target is to get a merchant account. Also if they can get a bank account opened in the same country in the company's name, that would be great.

    Also if you can refer to some of the websites that assists in this purpose and are reliable.

    Seeking your suggestions.

    Thanks
     
  2. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

    Joined:
    Mar 19, 2010
    Messages:
    3,812
    Likes Received:
    973
    Gender:
    Male
    Home Page:
    Any country in the EU will do for merchant account opening purpose. Most are going for a UK corp! Google is your friend for uk companty formation!

    From Debt Consolidation to Energy business! What a jump .... but hey it's the Internet everything seems possible.
     
  3. Heiko

    Heiko Jr. VIP Jr. VIP

    Joined:
    Jul 26, 2016
    Messages:
    597
    Likes Received:
    324
    Gender:
    Male
    Location:
    Germany
    Best one's would be UK or Malta. Another advice i can give you is to never register a company in germany... its horrible.
     
  4. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

    Joined:
    Mar 19, 2010
    Messages:
    3,812
    Likes Received:
    973
    Gender:
    Male
    Home Page:
    I agree with Germany as an offshore jurisdiction :D - Cyprus, BVI and Gibraltar are the most common places people incorporate their business when it comes to processing needs.
     
  5. Heiko

    Heiko Jr. VIP Jr. VIP

    Joined:
    Jul 26, 2016
    Messages:
    597
    Likes Received:
    324
    Gender:
    Male
    Location:
    Germany
    It's very confusing as well. Reading through all the stuff here for taxes to pay in germany is making me not to register a company :(
     
  6. Offshore Banking

    Offshore Banking Newbie

    Joined:
    Sep 15, 2016
    Messages:
    23
    Likes Received:
    1
    Im sorry RuthSam but I disagree. Maybe its easy to open a Ltd. in the UK, but to get a Business Account in the UK is almost impossible. In the UK its not mandatory to have a Bank Account, doesnt matter if Personal or Business Account. Even for British Citizens its very difficult.

    We use Russian Email Account and Servers to protect us and our Clients!

    Best Regards,

    Offshore Banking Team.
     
  7. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

    Joined:
    Mar 19, 2010
    Messages:
    3,812
    Likes Received:
    973
    Gender:
    Male
    Home Page:
    You don't even understand what this is about, but start spamming this forum... I feel sorry for anyone contacting you.. post reported..
     
    • Thanks Thanks x 2
  8. Offshore Banking

    Offshore Banking Newbie

    Joined:
    Sep 15, 2016
    Messages:
    23
    Likes Received:
    1
    Im hurt to be called Spammer. You dont even now me. The only Thing I said that I disagree about what you said. Im working since many Years in the Financial Industry and of course I know what its about. Best Place to open a Business, Business and Merchant Account is Ireland.
    1. Register a Business in Irland. 2. Open a Business Account at Bank Of Ireland. 3. Get your Merchant Account and Virtual Payment Terminal from RealEx Payments. Best Regards.
     
  9. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

    Joined:
    Oct 23, 2014
    Messages:
    754
    Likes Received:
    1,732
    Business bank accounts don't look too difficult to open in the UK, its seems to be pretty much similar opening process for a personal one .The requirements aren't anything that would be difficult even for a British citizen.
     
  10. Offshore Banking

    Offshore Banking Newbie

    Joined:
    Sep 15, 2016
    Messages:
    23
    Likes Received:
    1
    I wouldnt say it if it wouldnt be true. The UK is the most difficult Country to open a Bank Account. Google it if you dont believe. I had many Client who needed 5 and more Appointments to get a UK Bank Account. They ask to many Questions about your Business, expected Turnover and they also like to see Business Plans.

    Also if the Applicant is U.S. Citizen or Citizen of any other Country with Residency in the U.S. or holding any U.S. Visa, wont get a Bank Account in Europe. 99% of all european Banks will decline your Application if you have any Relations to the U.S. (AML Policy).
     
  11. ddarkos

    ddarkos Junior Member

    Joined:
    Nov 5, 2011
    Messages:
    146
    Likes Received:
    26
    Gender:
    Male
    Location:
    Europe
    That is true, its almost impossible to open a Business account in UK.

    You need to travel there and MAYBE a bank will open an account. I think is better any of new european country like Estonia, Poland, Slovenia. Easy to open a company and you can open a Business bank account one day after company registration...but still you need to go there (and company are not so cheap like in UK). Estonia and Slovenia use Euro (Eurozone).
     
  12. ddarkos

    ddarkos Junior Member

    Joined:
    Nov 5, 2011
    Messages:
    146
    Likes Received:
    26
    Gender:
    Male
    Location:
    Europe

    The only problem here is FATCA - European bank are scared about FATCA, they need to send to many documents to IRS about US Citizens and they need to monitor any company activity (money transactions).
     
  13. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

    Joined:
    Oct 23, 2014
    Messages:
    754
    Likes Received:
    1,732
    Its not complicated to send documents to the IRS, they just have to do the same as banks in America and send it electronically. They are ony denying them so that they can accept them later albeit with some increased fees, if its going to only cost them €.25/year to send documents to the IRS for each account owned by american they will make at least €100/year off it.
     
  14. MerchantAccount Help

    MerchantAccount Help Newbie

    Joined:
    May 7, 2016
    Messages:
    14
    Likes Received:
    0
    So guys can you inform about:

    How much would it cost for a non resident (not US Citizen), to register a corp and open corp bank account in Gibraltor, Malta, Cyprus or Ireland?

    Please tell me about approx cost for each country.

    Also inform what type of corp is best and hassle free.
     
  15. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

    Joined:
    Mar 19, 2010
    Messages:
    3,812
    Likes Received:
    973
    Gender:
    Male
    Home Page:
    After reading all the replies here I would highly recommend you to get in touch with some consultancy company directly to get quoted for each of the jurisdictions you are looking into. Still I would say, stick with Cyprus, Gibraltar or Malta whatever suites you best... Going with the baltikum countries will only make you a lot of troubles and you need to travel to get it setup. Otherwise you can open register a UK company and open an account for instant in Cyprus, NO PROBLEM AT ALL! you don't even need to travel to do that. Once setup you can apply for an merchant account with any European payment processor.