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Paypal and offshore companies

Discussion in 'Business & Tax Advice' started by exceed_x, Jan 12, 2017.

  1. exceed_x

    exceed_x Newbie

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    Hello everyone.
    Looking for some advice/experience about using a paypal account in offshore tax havens.
    Basically my business solely depends on paypal. Business is fully online, just offering services, no products. no registered companies. not living in US.
    The idea is to create an offshore company, and an offshore bank account. Also open a paypal account in the same country. Then withdraw the earnings to that offshore bank account.

    However, looking at my options from this url:
    paypal.com/uk/cgi-bin/webscr?cmd=_display-country-functionality-outside

    from the tax havens i've been checking none of them seem to let you withdraw to your local bank.
    i see options such as "Withdraw funds from your PayPal account: To your Visa card issued in xxx" or "To your US bank account."

    obviously i don't have a US bank account, and i'm not even sure i understand what "withdrawing to a visa card" means? could someone explain that to me please? how to you withdraw to a credit card? i can understand withdrawing within the limits of your card, but what about above the limits?
    I would like to be able to withdraw to the bank account.

    Also my main question is do you know any country which this paypal/offshore bank account would work? Or could you suggest any alternatives?

    Thanks in advance.
     
  2. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    If correct setup it works with Cyprus to withdraw your money to a Cyprus banks' debit card! There may be other jurisdictions where this could work. You may even find something cheaper if you research long enough. I didn't had the time nor the patience for all this, so I paid a guy a few thousands to get it all setup. This may not be in the budget for most here, so don't start PM me for how I did and if you can get it for $25 it's not goingto work.
     
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  3. exceed_x

    exceed_x Newbie

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    Thanks for the reply and feedback. I will definitely look into Cyprus, as i had never thought of it. Just one question though, withdrawing to a debit card, is the same thing as withdrawing to the bank account right? i don't understand why paypal differentiates those 2 actions.
     
  4. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    Yes it is the same way. I also don't know why that is so, but PayPal support answered me that they have this for other countries this way to allow withdrawals.
     
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  5. Crippler Mohane

    Crippler Mohane BANNED BANNED

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    Paypal has the worst customer support mate.
     
  6. Smileyヅ

    Smileyヅ Jr. VIP Jr. VIP

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    In my place withdrawing to bank takes 2-3 Business Days and withdrawing to card takes 5-7 Business Days

    [​IMG]
     
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  7. exceed_x

    exceed_x Newbie

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    Been accepting payments with paypal since 2009, and i am rather happy so far. can't complain about the customer support neither.


    Ah ok, thanks for the clarification. So it just takes longer with the debit card, which is not so important.
     
  8. swaggerVA

    swaggerVA Registered Member

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    sometime we cant understand if they will hold you with out any issues and if you want to file dispute who scammed you they have a slow action and bias also better to widthraw twice a week
     
  9. willca

    willca Newbie

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    if you're looking at offshore + paypal i think you might be looking at stuff the wrong way lol
     
  10. exceed_x

    exceed_x Newbie

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    Couldn't really understand the irony here. Why do you think so?
     
  11. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    You need to take a other approach to accomplish this!
     
  12. exceed_x

    exceed_x Newbie

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    well, as i mentioned on the initial post, i can only take payments through paypal. there are many reasons for that, but lets not stray from the subject.
    and i already have a few paypal accounts, but they are based in major european countries and linked to bank accounts on those countries.
    and obviously the idea is to take the business to a tax free region.
    so, not sure what kind of other approach i could take. please enlighten me.
     
  13. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    You need to find an exchange service or an reliable digital currency account / online service that allow you to load the account with PayPal! once you have found something that is reliable you can start setting up a 100% anonymous offshore corp. and get started! if that is what you are looking for.

    Please don't think you can get this done for $5 in total budget :D
     
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  14. gtull2

    gtull2 Power Member

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    You just gave me something to look into. Thank you.
     
  15. exceed_x

    exceed_x Newbie

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    okay, thanks for the info. i think i need to do some further research and some more reading on the subject; because i am not following you.
     
  16. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    You need to think out of the box. It can be complicated to tame that bitch!