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Offline Gambling Merchant Account

Discussion in 'Business & Tax Advice' started by speedy5044, Nov 4, 2010.

  1. speedy5044

    speedy5044 Regular Member

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    Hi
    I have a client who have an online gambling website (currently in italy) , he want to move everything offshore so he don't pay taxes , i told him that i can help but truly i don't know anything about that :D
    I have googled this and i have find some : http://www.instabill.com , http://www.cclogic.com ...
    But i need someone who know the right steps to do that so i don't loose this client .
    Another question : Do those payment processing give you a bank account or he have to open an offshore bank account by himself ?if yes what country should i advise him so he don't pay any taxes.
    Any help would be appreciated
    Thanks
     
  2. speedy5044

    speedy5044 Regular Member

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    Any help??
     
  3. heiska

    heiska Junior Member

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    Oh man. In theory, here is how it goes:

    1. Find somebody to form a offshore company for you.
    2. Apply for an offshore bank account for the company.
    3. Apply for a gambling license for your company in an offshore country.
    4. Apply for a merchant account e.g. with instabill.
     
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  4. speedy5044

    speedy5044 Regular Member

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    Thanks
    They already have a license in Italy , do you think they need another one in the same country where they got the offshore bank account? because i was browsing the internet and i have read some articles that they just need to show their license to the bank to get an account .
     
  5. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    If you don't know what you are doing, you really SHOULDN'T be advising a client on such issues. Just be honest and tell him to speak to an accountant or lawyer, otherwise you're treading on very dangerous ground.
     
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  6. speedy5044

    speedy5044 Regular Member

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    Thanks for the advice , but the problem is i can't say say that i don't know this t , i have almost finished the whole website , now the only problem is that they changed their minds and want an offshore payment so they don't pay taxes , and of course after i get more information about that i will tell them to ask a lawyer about that.
     
  7. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    If you've been hired to build a website, then build the website.

    It's not your responsibility to help them move their business offshore and use offshore payments.
     
  8. heiska

    heiska Junior Member

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    Eh, the point of an offshore gambling license is that it would be LEGAL for your client to pay little to no tax at all for its revenue (depending on the laws of the tax haven you chose).

    In the age of current Tax Information Exchange Agreements, your client will get in serious trouble if he chooses to use the Italian license, but not to pay the taxes defined in the license.

    Plus I doubt that Italian laws would allow the use of a foreign gambling license in an offline casino. Basically your client has to pay taxes or face serious jail time. There is no real anonymity anymore, thanks to TIEAs...
     
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    Last edited: Nov 5, 2010
  9. scoby81

    scoby81 Newbie

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    Not sure if you will find this helpful but Ireland currently have no gambling taxes so you could suggest to your client to set up a company in Ireland.

    He would need to talk with accountants and lawyers to make sure this is possible but i read somewhere that Ireland may be used as a place to set up online casinos.
     
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  10. yapaya

    yapaya Newbie

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    PMed you
     
  11. speedy5044

    speedy5044 Regular Member

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    I just replied your PM
     
    Last edited by a moderator: Nov 6, 2010
  12. professional.guest

    professional.guest Newbie

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    It's simple....
    Open offshore company ( Gibraltar )
    Apply for Gambling Licence ( 2000 per month )
    Make sure the company comes with a bank account also.
    As for payment processor integration, I suggest you use one of those services that are exclusive for gaming websites..
    This way you can reduce fraud, and keep your operations going smoothly.
     
  13. cdkpay

    cdkpay Newbie

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    i have got great solutions for gaming/gambling merchants. Also have the availability to offer north american faced processing.
     
  14. mirrorer

    mirrorer Jr. VIP Jr. VIP

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    I just did a little bit of research for cclogic.com and i found lot of scam threads for them,so be careful.
     
  15. oxonbeef

    oxonbeef BANNED BANNED

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    Italian gambling clients?
    I'd bet there are more then a couple of "advisers" underpinning a few casino's in Vegas.