Advice for an app development company

[offber]

Hi everyone,


I run an app development business and currently have to pay withholding tax in our country of origin for advertising payments. We're planning to establish a new company in a low-tax jurisdiction to handle these ad payments, while maintaining our local company. (Apple sales will be sufficient to cover ad costs; other sales will continue through the local company.)


I'm also considering relocating. If we do relocate, we plan to stop using our local company altogether.


EMIs aren't sufficient for receiving payments from Apple and Google,they only accept a proper bank account with an IBAN, and the account must be in the same country as the company.


From what I’ve gathered here, popular options include the UAE and Bulgaria. Opening a bank account in Cyprus and Estonia has been very difficult for us. Also, Apple and Google don’t seem to support Georgian merchant accounts.


Are there any other options we might be missing?

 

[daniels27]

Have you tyoed this yourself or was it copied from some ChatGPT? Because it is hard to read with that much waste space.

Opening a bank account for a company in the same country as you reside with a valid visa is generally no problem.

Why merchant accounts? You just need a normal bank account.

 

[offber]

Oh sorry. I don't have much experience with the forum, just tried to make it more readable.

To monetize with in-app purchases, you need to have a bank account on their list of supported countries.

We couldn't open a bank account with Estonian e-residency. Also it's hard for us to open a bank account in Cyprus because of our nationality.

 

[daniels27]

Thanks. The supported countries are here:
https://support.google.com/googleplay/android-developer/answer/9306917

Yes, seems Georgia is not part of the game. But Bulgaria etc. is.

If you are from Türkiye, you will need to have a proper residence visa in the place of your company, banks will open accounts then.