Jurisdictions for online pharma business

[rxmedspro]

Hi,
are there still ways to setup an offshore company with bankaccount to sell pharma?

Or better open a company for another purpose and use an frontshop?

Which of them is more likely to succeed today ?

Do banks seriously check the business purpose of the comany?

 

[Bmw850]

Do banks seriously check the business purpose of the comany?

They check at least, the activity of the company on the register documents, if you said pharma so...pharma.

It's not my main business, but I have recently launched pharma business.
All is fake and front shop.
I use European set up for banking, processing , paypal etc...

 

[lavel]

It's not my main business, but I have recently launched pharma business.

Elaborate, I don't believe you one second!

The only way you can setup something like that is to setup something like what you already mentioned.

Or better open a company for another purpose and use an frontshop?

But if you want to open a bank account for your company you will have to be prepared to provide a real good business description and find an agent that is able to help you with the entire process.

 

[Bmw850]

I

Elaborate, I don't believe you one second!

/
Even if you don't believe me less than a second, I will sleep very well this night.
1- I answered OP
2- What is your question?

 

[lavel]

Rest assured I sleep well even if you provide false information on OCT!

No question, just don't fool people around here I think there has been enough like that in the past.

 

[JohnLocke]

I would like to see that bank that open a bank account for a online pharma business most properly from India. If it's possible please let us know here what you did and what bank is willing to enter that business area I'm all in here.

 

[neweraoffshore]

Do it like this. (By the way, I am German, too in case your profile pic is related to your home country)
Make an unrelated company with website etc. then get a bank account for this company. You then verify it with Stripe etc. Get the API credentials and build a custom checkout which hides API endpoints and not needed meta, like product description etc. . As long as your API Post contains cc number, csv, exp date, name, adresse, plz, city, country and amount, stripe will process the card.
Some providers can give you ready made services for this with wordpress plugin or even do the processing for you and transfer to your bank account or BTC.

@lavel , I really think that @Bmw850 setup works. However I wouldn't recommend EU companies for this, I'd rather recommend US companies as their pharmacy law is not so strict and they don't care if not shipped into the US.
The king solution is to form an US church and in case stripe asks you about the amounts, you say they are donation packages as you are fund raising for project XYZ. No need for long explanations and business plans. I mostly do a one liner in case they ask.
And before the haters will come and laugh about the church setup and that stripe will never accept churches..... stripe even has a tithe.ly integration as they are partners... . Most people here have no ideas about the possibilities in the US, their system is so crazy no one will believe it...
https://stripe.com/partners/tithely

 

[lavel]

blah blah blah bulls**t - Play games with the banks, sure it works but it won't stand long. Play games with illegal pharmacy and the USA, hmmm start calling the FBI right away.

I know illegal pharma is doing up to several millions per month and for that reason it makes sense to play games and find water holes instantly. I also know how you can setup a business and get a bank account and start putting a shitload of money into that account, WOW..but it does not mean @Bmw850 & @neweraoffshore are gurus that have found the secret key to money laundering & producing of illegal money freedom.

What it means is that both of you are two guys here with each having a hidden agenda and who try to fool stupid and innocent people on offshorecorptalk into your business. Which will have a side effect that will give this forum a bad reputation like 3 - 4 other assholes before have try to do.

I wonder why @Admin at all keep this thread open it is far out of control already.

Just my 2cents.

 

[neweraoffshore]

@lavel no one is trying to fool stupid and innocent people. Everybody in this forum is here to not pay taxes or do over-regulated businesses with the most less regulations. That's the sense of offshore. If you are innocent, then don't go offshore and pay taxes, as no offshore system for EU taxed people is 100% legal. Every law firm like for example Mossack Fonseca told their clients that everything is legal, but they just hid the tax crime.

I was just answering the question. He was asking for a way to sell pharma.
By the way, I see that you have no idea about pharma laws. You can get a pharma license for for example generics in India, then your pharma is legal. You can't be made responsible for the laws from different countries if your clients accept the TOS where you tell them to take care about their own laws in their country and it is up to them to check it. For the processing are a lot of loopholes. Because you are allowed to contract a 3rd party processing company. It could violate TOS but not the actual law and the fines there result in 99% of all cases in a cheap settlement, as they won't start a lawsuit against companies with limited liabilty as they know they can't get anything as there is no more money...


And for your "hmmm start calling the FBI right away." I don't think that forum users like comments like this. Nevertheless, FBI won't care at all, as it is not produced in the US and not sold in the US. If the delivery has to pass customs, the only one who can be made responsible is the customer who ordered the delivery. In case there was a major crime which was also illegal in the license issuing country, then the pursuit is primarily in the hands of the issuing country and not the FBI....

 

[JohnLocke]

And here I close the thread @lavel 1 warning!