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Urgent: Offshore Business account for a CPA Network

Discussion in 'Business & Tax Advice' started by digitalbayer, Dec 5, 2011.

  1. digitalbayer

    digitalbayer Newbie

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    Hello friends,

    I am in deep trouble here. SO I am from India and into CPA marketing from last 5 yrs almost and last year I started one CPA network here in India. It is a private CPA network with around 70 good active affiliates and all of them are my friend and some of them push really good volume. They are with me because they know me for a long time and ask their friends to join my network for private payout and many other related things. It was going smooth and I was wiring regularly to my affiliates from my indian business account until I got a freaking letter from income tax department that I need to pay 30% tds [tax deduction at source] for every outgoing foreign remittance and that brings the full stop to my CPA network business. Right now I am sending those payments through a friend's business account but I know very soon he is also going to have that warning letter.

    So, I need solution. I tried US LLC but they need that I go there in person and open the business account and I need someone with 'money transaction' authority in the USA from my bank account since am from India. And I don't have any one so much reliable in the US.

    So, only option left is offshore business account in Panama [?] or Dubai or can anyone suggest me? What I need is lots of incoming and outgoing wire transfers every month. Like 40 incoming wire transfers from USA and UK [from advertisers] and 240 outgoing international wire transfers every month [to affiliates] so that I can concentrate on my business instead of giving fu&k about these silly issues. Do you know panama banks allow to do it online without rising issues?
     
    Last edited: Dec 5, 2011
  2. navimeister

    navimeister Regular Member

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    I would recommend milonline.com. Send them an email with your requirements and they will work out an exact solution for you. I was able set up a company+bank account with them without going anywhere. Bank charges are a bit higher than my domestic banks but still affordable.

    Banks will ask what your business is about, nothing shady.. Should not be a problem. The process took a month for me.

    Ps: I am not affiliated with them.
     
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  3. akietta

    akietta Newbie

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    you can try ocra.com i am also form india. i have their service best. they have been doing this since 30yrs. you can try hong kong and british virgin island.
    avoid dubai theu need you to invest 10000AED before establishing company.
     
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  4. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    I had quite good results with cclogic.com, Seychelles + Cyp. bank account, pretty easy to get things done.
     
  5. romil2009

    romil2009 Regular Member

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    these companies seems to be nice one for making offshore bank account.
     
  6. sikandar

    sikandar Senior Member

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    You can open an offshore company in Hong Kong and get a bank account with debit card that works worldwide. You don't have to pay taxes if you don't do business in HK. Try asiabs.com or milonline.com
     
  7. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    The same applies for almost any offshore jurisdiction i.e. Seychelles,Belize, Panama and Cyprus etc. :)
     
  8. ai786

    ai786 Newbie

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    not in a good situation to be in, hope it works out well.
     
  9. neuromancer

    neuromancer Newbie

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    nxsystemsinc or 'nxpay' is specifically designed to receive and transfer wires instantly around the world. i think it's like $3k to setup tho.. dunno email them and ask.

    otherwise you could just get an exchanger to help you like technocashier.com they sell ATM cards that can be loaded with ecoin.cc .. if your affiliates all get cards from ecoin.cc you can load their debit cards instantly whenever you want to pay them out.

    OKpay is another option.. plenty of these around who specialize in affiliate payments and collection
     
  10. roger_roth

    roger_roth Newbie

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    Check my PM ;)