Cyprus company and Merchant account and bank account 1 package please?

[FilipinoLawyer]

you are suggesting that I incorporate a company in Cyprus, choose an EMI for banking and apply for an account with Stripe or Wirecard? Can you give me a specific EMI? Do you think its a good fit for my business? I dont process large amount every transaction, I just rely on volume of orders

Thanks so much

 

[FilipinoLawyer]

What is the best option for me? I would like to inform you that there are many banks who declined me already.

 

[bountymounty]

you are suggesting that I incorporate a company in Cyprus, choose an EMI for banking and apply for an account with Stripe or Wirecard? Can you give me a specific EMI? Do you think its a good fit for my business? I dont process large amount every transaction, I just rely on volume of orders

Thanks so much

EMI is not going to be the problem the merchant account will make you trouble. EMI I would use Revolut or similar for merchant account you may apply with one of the many out there, you can search for merchant account on Google and Durango, eMerchant, RBS Worldpay and similar will show up. Chances that your business will last long are small.

Cyprus is a great place to setup a legit company and operation. If you are out for a quick buck use a UK LTD it's still the cheapest.

 

[FilipinoLawyer]

What do you mean when you say that the chance of business will not last long is small?

Yes, I am having a hard time looking for a merchant account. In the Philippines,the companies I asked wont give me a merchant ID number which is needed by the payment gateway providers

 

[Spinat]

I dont process large amount every transaction, I just rely on volume of orders

one or two chargebacks and your merchant account is gone.

What business are you into?

 

[FilipinoLawyer]

We edit/write essays and research papers for students in US. We also edit/write admission essays/CVs for companies offering admission services to students

 

[Spinat]

We edit/write essays and research papers for students in US. We also edit/write admission essays/CVs for companies offering admission services to students

Which payment processors did you actually try?

 

[FilipinoLawyer]

PayPal. We have been using PayPal for 10 years. But I am looking for an alternative payment gateway. Just in case.

 

[FilipinoLawyer]

Most of the replies I got was that either they do not service the Philippines. Or they do not accept our business model.