Looking for confidence in making a decision

[Damian Hill]

Hi people, I'm new here. I noticed that finding info in this forum is great until I found contradictory info. For example, I waslooking for an EMI. So MisterTango is often cited but reviews hereafter have changed dramatically over the past month. See Mistertango is rated "Average" with 5.4 / 10 on Trustpilot

Banks closing accounts nearly as quick as they open them. It's common knowledge nowadays. It becomes really hard to know which direction to take, trust being a big issue in Belize or other parts of the world, the EU regulating a lot.

I want to launch my B2B Internet site soon. Sales could peak at $100,000 for one month. Higher or lower after is the unknown. EMI/Internet banking/limited company would be my choice to optimize taxes. I'm French and in the UK. I see any kind of advice here, so I just don't know 'where' to go next to form my company and who to listen and talk to.

Any advice would be appreciated.

 

[Damian Hill]

Thanks

 

[negon]

Well, it's a discussion forum and not a website that give legal advise for free! So for that reason you may realize that contradictory info isn't avoidable! Everyone has his opinion!

I have never had any issue with Mister Tango so far, the same goes for WirexApp, AdvCash and even some banks in Cyprus. I have read a lot from people that claim they have troubles with these and that but I have also first hand information that some people are simply unable to get even the simplest things done correct and for that reason they face a lot of troubles.

You should look around and test some of the services out there. If you know what you are doing and you don't make any of the typical noob mistakes things should work out for you!

 

[Damian Hill]

Hi auric, thanks for your response. I know it's not for free. I was raising the question about the difficulty to make oneself an opinion on how to get started but your answer is great. You just gave me an essential starting point. Nice! 1- I take it it's mainly about how we structure our own plan before even thinking about the technologies themselves. 2- and then paying attention to the possible upcoming pitfalls. 3- then using the technologies. Common sense when we already know. I'll work on that.

 

[Martin Everson]

For example, I waslooking for an EMI. So MisterTango is often cited but reviews hereafter have changed dramatically over the past month. See Mistertango is rated "Average" with 5.4 / 10 on Trustpilot

Welcome to the forum.

Most of that feedback in that link is what you will get with any EMI. EMI business is a mass market business i.e like a fast food restaurant. The critics always have louder voices. However, if you want a 3 star Michelin restaurant experience then don't go to McDonald's . That being said you should as standard use multiple EMI's in different jurisdiction in EU in case Lithuania regulators get that dreaded phone call from US DOJ just like Latvia and Cyprus did.

 

[negon]

Hi auric, thanks for your response. I know it's not for free. I was raising the question about the difficulty to make oneself an opinion on how to get started but your answer is great. You just gave me an essential starting point. Nice! 1- I take it it's mainly about how we structure our own plan before even thinking about the technologies themselves. 2- and then paying attention to the possible upcoming pitfalls. 3- then using the technologies. Common sense when we already know. I'll work on that.

if you need more details then this you may even spend a few euro to upgrade to mentor group it can give you some more ideas on how to proceed with some setup

 

[countryfree]

Where is your business registered? Where are most of your customers? What's your tax residency? There are many questions before anyone can give you correct answers.
My only advice would be not to consider EMIs as a long term solution, especially if you're making big money.

 

[brianK]

With big money available you want to spread the risk, means you have EMI's and bank accounts in a combination behind several companies.

 

[Spinat]

So far I pushed 87000 euro through them during the last 3 month and had not a single word from them. account is still working and for less than 5 min I made another 6k transaction with them.

it may require that they know your business and it can depend on what country you are from.

 

[clemens]

Does anyone has been required to provide invoices for any transactions? I just read it posted by another forum user. I have not been asked a single time but afraid that's something new they started to do?