BVI/Isle of Man/Gibraltar or HK for High Rick Business?

[Dave]

Hello Friends!

I wonder if anyone has a working setup to share that they are using for their High Risk Internet Business. We are planning to offer financial analytical membership site available by subscriptions (all solid content but still labelled as high risk by banks).

The UBO is resident in a country not easily accepted by PayPal. And the nature of this business is immediately rejected by banks. We do not wish to receive any advisory licence and therefore can only receive the payment through a non-bank service (e.g. LeuPau).

After consulting with dozens of incorporators we decided to go completely UNDERGROUND (receiving wires directly to our virtual corporate bank account- without payment processor which charge EXHORBTANT FEES FOR HIGH RISK MECHANRS – E.G. 14%)…

Can you recommend a jurisdiction which is more or less reputable but is not hard on the FX research analytics companies?

Cyprus is immediately out as they are extremely strict with the FX companies. What about BVI? Would EU/USA clients demand at least local financial advisor license?

David

PS: This is goign to be a B2B service...

 

[JohnLocke]

You are going to get a hard time to find any good jurisdiction without a license for your business.

The first that comes to my mind is Costa Rica or Panama most business is accepted in Costa Rica even Gambling and Pharmacy business without license! You can open an account for a CR company almost anywhere i.e. Mauritius, Cyprus, Belize and even Latvia. However, you will need to hide your business behind another business model that need to look real and not fake or some made up!

For payment processing you can use Neteller, Skrill, 2checkout or similar or a stealth GayPal account!

 

[Dave]

Thank you very much for your reply - when it comes to servicing institutional clients - do they all ask for license in the place of incorporation or in their OWN country?

 

[Dave]

However, you will need to hide your business behind another business model that need to look real and not fake or some made up!

Can you also please give an example of a HIDING SETUP?

 

[JohnLocke]

Thank you very much for your reply - when it comes to servicing institutional clients - do they all ask for license in the place of incorporation or in their OWN country?

Most often in the place of incorporation.. they will also ask for beneficial owners personal knowledge, education and other persoanl stuff.

Can you also please give an example of a HIDING SETUP?

What example do you want? some operation that is actually doing it this way?

 

[Dave]

Most often in the place of incorporation.. they will also ask for beneficial owners personal knowledge, education and other persoanl stuff.


What example do you want? some operation that is actually doing it this way?

Yes - can you please give me an example or two - if for example I register and offshore Gibraltar company but use BVI/Seychelles as a holding company - which company will need to obtain the license?

 

[Dave]

I have been in talks with multiple regulators actually - some do not require license for what I am planning to do - but still there is a fine line between having to obtain the licence and not...

 

[JohnLocke]

Yes - can you please give me an example or two - if for example I register and offshore Gibraltar company but use BVI/Seychelles as a holding company - which company will need to obtain the license?

I don't have any examples, that's why I asked.... anyway, it will most often not be the jurisdiction where you regsiter the company but rather the jurisdiction where you want to open the bank account and the bank you approach, they will ask for a license!

 

[JohnLocke]

I have been in talks with multiple regulators actually - some do not require license for what I am planning to do - but still there is a fine line between having to obtain the licence and not...

What agent / jurisdiction didn't require a license? Do we speak the registration of the company or bank account opening too?

 

[Dave]

This will be an automated research like Autochartist - do you think it should still be licensed?

 

[negon]

Well if no money is floating between the users that are using your system and YOU / YOUR Business other than they have to pay a subscription fee or similar to use your service there is no license required!

 

[Dave]

thank you for your generous attention to this matter - can you please send to the relevant regulation legislation on this topic in EU?

 

[Dave]

does the fact that it will be a B2B service REMOVE some of the urgency to be LICENSED?