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Offshore Company + Bank Account + Paypal Required

Discussion in 'Offshore Business Discussion' started by jawadhk, May 11, 2015.

  1. uplana

    uplana Corporate Services Business Angel

    Payoneer sucks compared to many of the other services available and specially for for receiving 3rd party bank transfers which they don't support.

    The solution @auric has for verify PayPal with Cyprus company works just great!
     
  2. maxmoney

    maxmoney Mentor Group Mentor Group Sponsor

    Would you say it is better to buy a ready-made company as you did or would you at any time register a new company if you needed now? What I mean, is it really faster to buy a dormant company?
     
  3. maxmoney

    maxmoney Mentor Group Mentor Group Sponsor

    Payoneer only works for Adult websites and gaming as far as I can figure out from how this crappy system works?! Or am I wrong you thnink?
     
    auric likes this.
  4. wtf

    wtf Member

    Can you help me and explain what you did to setup a offshore Company with bank account and paypal account please?
     
    auric likes this.
  5. busdriver

    busdriver Member Entrepreneur

    Yes, that would be very interesting. Also where did you do it?
    PayPal is not keen to do business with companies in the traditional offshore jurisdictions ...
    So far it only seems possible in Labuan and UAE at setup costs in the $4000-range.
     
    wtf and auric like this.
  6. wtf

    wtf Member

  7. busdriver

    busdriver Member Entrepreneur

    Cyprus could be - not sure.
     
    auric and wtf like this.
  8. FullDISK

    FullDISK Member Entrepreneur

    Cyprus: 2250eur (opening process) / 1450eur (renew)
    SLP: 2050eur (opening process) / 1450eur (renew)

    Depends where you are buying ;)
     
    auric and wtf like this.
  9. wtf

    wtf Member

    yeah okay.. I see, thanks for the information ;)
     
  10. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    Do you have any experience with these jurisdiction? just wondering since I have not operated there at all.
     
  11. busdriver

    busdriver Member Entrepreneur

    Labuan: I am planing to do something in Labuan at the moment.
    I met a set-up provider who would cover both (Labuan and UAE) and he advised (in my case) Labuan would be a slightly better fit.
    From a second provider I heard PayPal would be possible for a Labuan company. Pricing has been confirmed. It seems if you buy for a Malaysian set-up service rates are pretty similar. Bank opening seems to be no problem in Labuan.

    I was also considering a Scottish (L)LP with Belize or Seychelles offshore company as partners but I hear (also in a personal meeting) that it would be difficult to open a bank account in UK for a UK company now if owners are dubious (from a tax haven). There seems to be a similar change in UK as in HK in terms of business bank account opening.
     
  12. FullDISK

    FullDISK Member Entrepreneur

    You are not obliged to open the bank account in UK, you can try in another Country (eg: Cyprus), WirecardBank also.
     
  13. busdriver

    busdriver Member Entrepreneur

    Yes, of course. And that's what I have been told too (Switzerland or Estern Europe). But as I am focussing on a PayPal account, company and bank need to be in the same country (see title of this discussion: Offshore Company + Bank Account + Paypal Required)
     
  14. FullDISK

    FullDISK Member Entrepreneur

    Wrong.
    You can open a Paypal Account for a European Company + European Bank, what means that it is irrelevant to be in the same country.
    If you open a Cyprus LTD or a UK (L)LP you can open the bank account in Germany or Suiss + paypal for example...

    On the other hand, if you open a Belize or Dominica Company, you will need a US Bank account.
     
  15. busdriver

    busdriver Member Entrepreneur

    Did you do that?
     
  16. FullDISK

    FullDISK Member Entrepreneur

    Yes. All ppl do that. Prefectly legal.
     
  17. cutmetwo

    cutmetwo Member Entrepreneur

    great advise, thank you Mr.
     
    FullDISK likes this.
  18. bountymounty

    bountymounty Mentor Group Mentor Group Sponsor

    You ever sorted out how to get all three setup?
     
  19. bastard

    bastard Member

    You have a fully working solution for that?
     
  20. FullDISK

    FullDISK Member Entrepreneur

    Yes :)
    PS: if you are looking for paypal, please cake care about offshore companies outside of the Europe.