Recent content by busdriver

How is it with VAT, income tax, requirement for an office, staff, contact person and all that for foreign income for a company owned by foreigners?

Just in HK, the problem is to get a bank account. High street banks (HSBC or so) would (probably) not give you a bank account and without that you could not verify your PayPal account. If still and for how much longer virtual addresses work would be a secondary questions.

"a flat 3% corporate taxe on income" - is there a maximum turn-over? Sounds like a nice way to tax your profits if you have a separate company operating the business and moving the profits for what ever reason (licence, consulting, ...)

Estonia - getting a bank account is already difficult. High street banks want local business (with like office or shop). Online banks are the only option. I am afraid that ("Republic of Scotland will come up with a global solution") would not change anything. Estonia tried. The banks there are...

Yes, PayPal HK is not too bad. Still expect, as always, that they ask questions and might close your account. Your rolling deposit will be frozen for 6 months (can't tell yet if they pay back without asking more questions yet)

I'd might be your customer. Feel free to PM me if you are operating.

A "e-commerce website", just to show is probably a possible thing to make for having a cards processor. But I guess in order to become a business client of TBC requires the director to be a resident in the region or have any other good reason. Or do they do offshore accounts or account for...

I guess, if the start asking, expect them to close your account in the end regardless. It feels like they are more looking for reason to keep your money for longer and keeping at least some of their reputation. I can imagine even if you would have bullet-proof documents, they will still close...

TW might ask questions earlier than 5 M. EG if you sen money regularly from HK to PH. It seems they have a total limit. They might ask for proof of source of funds and reason for payment.

"The whole point would be solve the issue of paypal / payment processors not wanting to work with an offshore company" - they would likely not want a UK payment processor as their client either. I just check the fine print of stripe and alike and they always keep the door open to close your...

Transferwise can be difficult too when it comes to limits. Like they might as for proof of source of funds at some point. Or delay a bigger transaction for 2 working days. I also read they are OK for transactions worth of up to USD 7000 or so. And I can see that being an issue from personal use...

I was with Fidor in UK (they closed down due to Brexit). It was a bit limited, EG no standing order or direct debits.

Hi everyone, I'd be wondering if it would be possible to make Virtual Terminal work on such an account. (VT is to take card payments by phone or if one knows the card details including CVC and billing address) Also something to keep in mind: The stealth account would not have a stealth bank...

Hmm, maybe it's you somehow ( a friend has been asked many more questions (and than being refused) than me lately when opening a TIDE account in UK. But it did not seems to be very difficult to me to create a UK Ltd, get a neo-bank account and connect that with a new PP account. (if UK resident)...

Getting a bank account HK is not an easy task. And paying 0% tax (because offshore) is a lot of work if you wanna go that route. Maybe better move the profits to where it's than tax free instead of claiming it being offshore business.