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Music Marketing Company with Seychelles, Payment Gateway Problems.

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Decanl

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Sep 3, 2019
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#1
Hi guys, as the title says, I have Music Marketing Company registered in Seychelles with a combination with Bank Account in Dubai- we are using Ari Global (ACCOUNT RECEIVABLES INTERNATIONAL ) my apoligies if I can't post links.

So basically we are being refused by every single payment processor, be it PayPal, 2Checkout, Stripe, Square, Wix Payments, Paddle, WireCard, BrainTree etc.
As I personally understand the problem is with Seychelles rather than the business module itself.

What structure would you suggest for me to take a look at? I need the payment gateway back up running ASAP we are loosing money because of this, website payments is not working and half of the clients doesn't understand how transfers/wire works.

I do have a transferwise business account if that changes something.

I'm open for discussion, help and criticism.
 
#2
Set up a shell UK LTD company (dormant) and apply for Stripe. The account will most likely be approved automatically. Then go ahead and link the TW IBAN you already have with the Stripe account :)

Tested this myself with a slightly different setup (yes, payouts work as Stripe doesn't check the name of the bank account owner).
 
#4
Well, I assume it's more unstable if the jurisdiction of your company is Seychelles instead of some EU country. Either way I don't receive lots of $$$ this way but mostly via PayPal. In regards to OP, I guess any IBAN can be used (from any EMI) as long as the bank country is allowed by Stripe.
 
#5
mange38 said:
Set up a shell UK LTD company (dormant) and apply for Stripe. The account will most likely be approved automatically. Then go ahead and link the TW IBAN you already have with the Stripe account :)

Tested this myself with a slightly different setup (yes, payouts work as Stripe doesn't check the name of the bank account owner).
Click to expand...

Can you please explain more about this?


moneyrequired said:
TW Business Account is very unstable solution as I read on this forum.
Click to expand...

Why is it unstable solution? Please advise.
 
#6
mange38 said:
Well, I assume it's more unstable if the jurisdiction of your company is Seychelles instead of some EU country. Either way I don't receive lots of $$$ this way but mostly via PayPal. In regards to OP, I guess any IBAN can be used (from any EMI) as long as the bank country is allowed by Stripe.
Click to expand...

Sorry for double post.

I do have an access to different EMI banks too, N26, TransfwerWise, Revolut, Monese.

I need a stable option as our monthly volumes ranging from $5000-$25,000 per month, I can't afford to get my accounts limited or any of other stuff as this is PR Business and we are mostly working with money received from clients.
 
#7
I also have a private Stripe Account which is connected to N26 currently to work with some clients, but I know that the days are being counted until the permanently limit my account until I hit their limits.
The account is verified but it's as a private account rather than business account.
 
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#8
Decanl said:
Can you please explain more about this?




Why is it unstable solution? Please advise.
Click to expand...

One of few examples which you can find on this forum:
www.offshorecorptalk.com

Whats your thoughts about Transferwise now?

I wonder what your thoughts about Transferwise is as per almost END 2019 ? Can we trust them do? Are they safe to use for long term business activity as long as everything is legit and transparent?
www.offshorecorptalk.com www.offshorecorptalk.com
 
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#9
I can't edit above post. Sorry for double posts, but this could be helpful for you
www.offshorecorptalk.com

Transferwise closed 3 Business accounts for me

Hello Everyone, I just had Transferwise close 3 business accounts for me... 2 of them on the same day and the third one was closed today. The first 2 accounts had a lot of activity on them but the third one was quite new with very little activity. I wondered if anyone had the same issue in...
www.offshorecorptalk.com www.offshorecorptalk.com
 
#10
Earlier today while browsing the forum I seen that someone was suggesting to try PayOp processor that they accept offshores etc.
They did accept mine and it was quick, actually it was too quick that it makes me worried if they are legit?
Googling doesn't show much information about them, which makes me very skeptical about using them.

Has anyone used them? Any feedbacks?
 
#11
Decanl said:
Hi guys, as the title says, I have Music Marketing Company registered in Seychelles with a combination with Bank Account in Dubai- we are using Ari Global (ACCOUNT RECEIVABLES INTERNATIONAL ) my apoligies if I can't post links.

So basically we are being refused by every single payment processor, be it PayPal, 2Checkout, Stripe, Square, Wix Payments, Paddle, WireCard, BrainTree etc.
As I personally understand the problem is with Seychelles rather than the business module itself.

What structure would you suggest for me to take a look at? I need the payment gateway back up running ASAP we are loosing money because of this, website payments is not working and half of the clients doesn't understand how transfers/wire works.

I do have a transferwise business account if that changes something.

I'm open for discussion, help and criticism.
Click to expand...


Keep your structure as it is and apply to: Ikajo - (Ikajo International )
 
#17
mange38 said:
Set up a shell UK LTD company (dormant) and apply for Stripe. The account will most likely be approved automatically. Then go ahead and link the TW IBAN you already have with the Stripe account :)

Tested this myself with a slightly different setup (yes, payouts work as Stripe doesn't check the name of the bank account owner).
Click to expand...
In that case the UK LTD will not be dormant.
 
#19
mange38 said:
The UK LTD wouldn't receive any payments, it's just used to register with Stripe. Payments will be deposited to the main/parent company.
Click to expand...
If the stripe account is in the name of the UK Ltd then it will receive payments.
You can invoice most of it to the Seychelles, to reduce profit in the UK but would still need to do accounting and file accounts etc.
 
#20
The Stripe account IS in the name of the LTD but the bank account linked is in the name of Seychelles, not the UK LTD.

The UK LTD has no bank accounts and financially speaking receives no payments.

Not sure what's the legality of this though. Certainly isn't compliant with Stripe...
 
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