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Offshore company/bank account and payment gateways for e-commerce

Alf

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Apr 18, 2018
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Dear All,

I plan to sell goods from Asia to the USA only (not in Europe) from my Shopify/BigCommerce/Amazon store.
I also plan to use a local storage/fulfillment service in the next future.
I'm not an US-person (no residency, no green card, no citizenship). I live in Europe.

I try to find the best juridiction to avoid :
- taxes
- accountancy
- local secretary
- VAT
- work with Amazon (some offshore juridictions are not allowed by Amazon as Belize for example)

The only juridiction which provides all these specifications is Mauritius.

I also want to work with some US payment gateways as : Paypal, 2Checkout, Skrill, Stripe, ...

But my main issue is that I cannot open a Mauritius bank account (they do not accept merchant payments from online stores and it's very complicated) so I cannot work with the payment gateways as they want the bank account in the same country of the company.
I found Leupay and Mypos as online bank accounts, but their IBAN are in a different country.
Someone told me about incorporate in Gibraltar (no taxes and very simple and cheap accountancy), but the local banks do not accept to open a account for a virtual company (only physical ones).
So every juridiction has his hassle.

I wonder if someone here was able to open US Paypal, 2Checkout, Skrill or Stripe account from an offshore company with a bank account in a different country ?
I read here that it was possible to provide a virtual company address (a fake one) in the same country of the bank to open a Paypal account.
Do they need official documents to prove the company and bank account are in the same country ?
What about other payment gateways ?
Is there a solution in that case ?

I would really appreciate your help.
Regards
 
You can do that with a Cyprus company, Cyprus bank account, full nominees and Cyprus VPS!
Dear Auric, I know that I can do that in Cyprus, but the cost is higher and you need an accountancy which also costs a lot.

What do you mean by VPS ?

I wonder if it exists a service like "virtual address" in the country where the bank account is located, which could be perfect for a Belize company with a virtual address in Malta and a Leupay bank account with IBAN in Malta.
 
Sorry to insist, but some people here opened a US Paypal account from offshore company and bank account with success !!
I also found that it was possible to incorporate in Belize which could be the owner of a Wyoming LLC. Your benefits : a US based company, EIN, bank account and no taxes as the LLC is owned by a foreign entity. You just have to pay a US accountant to make sure all the files are ok.
Do users here want to keep some "secret" ?
 
Sorry to post again, but I read a lot of threads here and there are contradictory details regarding Offshore Company + Offshore Bank account + PayPal (or other payment gateway).

Someone posted the following information :
If you need use paypal you have these options,
- European Company with bank in Europe
- Non-European Company but need use US Bank account. (You can use Credit card for withdrawals but take care about the fees)

What about Non-European company with a European bank account (Belize company + Cyprus/Malta bank account for example) ?

Then, someone else posted that you do not need the bank account in the same country of the company to open a PayPal account.

So, finally, this is true or wrong ??
 
What about Non-European company with a European bank account (Belize company + Cyprus/Malta bank account for example) ?
it's not going to work any longer! PayPal require the company and bank account to be in the same country!
 
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VPS is required.

I'm testing something right now. I managed to add a Cyprus debit card to my PP account and try to withdraw to the card, not sure if it is going through but will have an answer in a few days.

Otherwise, you want to setup a company for instant in Cyprus with Cyprus bank account and open a Cyprus PP account with your Cyprus debit card. There is a Cyprus VPS provider on this forum, they used to advertise here last month I think.

Otherwise you may travel to the UK, for company, bank account and PP account and use a UK VPS provider to connect to the account.

If you can use 2checkout which also support PayPal payments you can use a simple Cyprus, Malta, UK setup, they also require bank account and company to be in the same country but they are easy to apply with.
 
Regarding the Belize IBC + bank account, is it still possible to have a Paypal account even if I live in Europe ?
yes it is, you may see @diablo 's reply that was posted faster than mine :)
 
Thank you both ;)
I know about Cyprus, but the accounting sems to be a hell in term of process (a lot of paperwork but also a fu.... AUDIT!!!) and cost !!!
Also, the incorporation price and annual renewal are higher than the most other juridictions.
So if you add incorporation price + renewal + accounting + audit, it costs an arm !!
In the other hand, you do not pay any tax!!
This is why I was thinking about Belize which I can use to create my Shopify/BigCommerce store (not Amazon in the other hand.....doesn't matter).
 
Dear Auric, I know that I can do that in Cyprus, but the cost is higher and you need an accountancy which also costs a lot.

What do you mean by VPS ?

I wonder if it exists a service like "virtual address" in the country where the bank account is located, which could be perfect for a Belize company with a virtual address in Malta and a Leupay bank account with IBAN in Malta.
I don't know how to Google VPS
 

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