Our valued sponsor

Offshore incorp for an online event management business

mojoho

Offshore Agent
May 18, 2010
2
0
1
48
Hi,


I am starting up a company which will sell a service related to event managment.


I can operate the business from anywhere in the world.


I will need merchant facilities to take all major credit cards and paypal from around the world.


I also need an account that allows me to then pay into customer accounts anywhere in the world


Also I would like to have an account which allows me to withdraw money worldwide with relatively low charges.


I am unsure about the structure of the companies. In order to have tax free income, should I have one company in say Panama to take the funds and redirect to my customers and then later another account in the BVI for holding profits??


Can anyone help??


Cheers
 
Welcome aboard mojoho,


It all comes down to what payment processor you will find and if they have any problems to transfer your money (the processed money from the credit cards) to a Panama company, most will not have an issue with it, next to this it depends much on what your plans are and what kind of privacy you are looking for, lastly you will also need to make it clear how much volume you will have and if it will pay the setup of a offshore company structure.


What we did is a Belize Holding company and have Cyprus companies below in the structure, the only reason for it to be Cyprus was that we needed the credit card processing option, we were also looking at the UK but the tax benefits are not that benefician... for the credit card processing we use worldpay, works well for us.
 
Hey Jpay


thanks for the welcome and reply.


At this stage we estimate around 30K USD to be going through the business on start up and based on the little I know it seems that is enough to start looking at the offshore company formation which I assume will probably cost a few thousand USD. Would that be right


I have heard alot about cyprus in the forums. To have your merchant acc there are there any requirements for residence? I will also be transferring weekly to clients and the cost of transfer to international accounts is a big factor for us. Any ideas how much worldpay (if your actual account is with them) charges?


Cheers
 
Well, first of all CCLOGIC is not my company, I whish it was the case - lol Anyway, you will need to ask Worldpay directly or take a look at their website Online Payment & Credit Card Processing | Merchant Accounts | RBS WorldPay we pay 4,7% & .25 / transaction.


We made use of the nominee services they provide, no need to be a resident of Cyprus.