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New online business, offshore account, Merchant and more..

Discussion in 'Business & Tax Advice' started by rohail91, Nov 24, 2016.

  1. rohail91

    rohail91 Newbie

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    So here is the condition.
    I am not based in USA and I am about to launch a new online business. There is a risk because the user of my website might host copyrighted content. So, I need a payment gateway to collect payment from credit/debit card and Paypal.

    I don't have any registered business anywhere in the world. So what should I do? Do I need to get an offshore company? And how can I get a bank account then? And merchant setup with that bank account?

    Please suggest.
     
  2. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    Well looking at just the risk you mentioned then I would use a offshore company for instant in Belize or Seychelles, it is very difficult to sue such a entity and it costs lots of money doing so, most will give up just because it is a Belize or Seychelles corp!

    Looking at your issue to get a payment gateway for CC processing and PayPal the above mentioned jurisdiction can only work with processors like Skrill, 2co, Neteller, WorldCore and some other not well known processors. Banking is possible in Cyprus, Malta, Baltic countries and Mauritius no problem.

    If you want soemething that is easy to setup in matters of bank account and merchant account and still protect you better than most other EU countries than Cyprus and BVI is a good idea to register a company, it's easy to get a merchant account, PayPal works and banking is open almost anywhere. In regards to legal matters, at least it is very difficult and costly to sue a Cyprus corp. and if they still should do that it is the company and you can simply dissolve it. For further protection you can setup a Holding company holding 100% of the shares.

    That's just a suggestion.
     
  3. rohail91

    rohail91 Newbie

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    Thanks for the valuable suggestions. What if I get an offshore hosting to get the protection from the legal side. And then use merchant with that hosting. Risk is involved, but not very high because the copyright content will be taken from individuals and most of them won't want to sue because of their financial muscle. The most they can do is to contact the hosting provider, since I will be using offshore the DMCA request will be ignored.

    Now, can I integrate payment processing? Keep in mind that nor PayPal neither Stripe support my Country. Your thought?