Please advice for settling my business

[istano]

Hi


I would appreciate if you can help me with my problem, because after reading a lot, everyday I'm more confused and I don't want to abandon my business dream.


I plan to start an eBay shop reselling digital goods. I obtained them, lets say at 12€ and sell them for 24€, getting a 14-16% benefit (after eBay & PayPal fees) approximately.


Until now I tried just a few weeks and i've been succesful (receiving 2500$ (500€ benefit) income in 2 weeks) but I need to solve this somehow if I want to keep selling in the future. I would have prefered to do this legally but it is impossible to me to declare as costs the adquisition of the digital purchase (can't get invoice from the supplier) and so all my income would count as benefit (so all my benefit would be adressed to pay vat)


After reading a lot I think the best solution would be to create an offshore company + bank account. There are a few things that are a must for me and these limitate my options:


- I need to be verified without limits on PayPal Business account (it would be my eBay only payment option)


- My PayPal income must be withdrawn to a Visa/Mastercard card (I pay the digital goods and so my stock using VISA/Mastercard card)


- I don't care to storage all the money on the Visa. ¿It would be possible to spend the money on my Visa for holidays...etc on my home country (UK & Spain) without risk?


I am currently a postgraduate student and so never had to declare my income (I lived in Spain and I am now living on UK) and hence I am exempt of council tax, free health system etc...


I thought that maybe an offshore Belize iBC + IBC bank account with Visa + Belize virtual office would be the solution but after reading some comments I am not sure.


By the way the visa for withdrawing PayPal funds must be of the same country of your PayPal account?


I come here looking for advice and if someone can offer me to arrange these things.


Thanks in advance

 

[fundmanager]

PayPal and Offshore company doesen't work, sorry :conf:

 

[dwilson]

It is possible for you to incorporate a Belize IBC easily but you'll need a US corporate account to withdraw funds from PayPal online to your company account. I believe that there may be other options that you can explore through PayPal. You'll have to call them and have a chat.


Have you thought about using Moneybookers? Many people have commented on using a Cyprus account with Moneybookers for a seamless approach. The solution that you suggested with a virtual office can be a bit on the expensive side. Have you explored the option of operating without one first? Moneybookers will still use a Belize account though.


Hope that I helped a bit.

 

[JohnLocke]

Moneybookers and all other than PayPal will work for you. There is another thread here on the forum that explains well all the issues you may face if you sign up for a PayPal account with a Belize company or any other Offshore company! Just to mention a few issues, IP, Local utility bill (water or electricity supply) you need a credit card from the same country and in your name... and much more. Don't think PayPal is stupid, they have been too long in the business!


If you find a solution where an Offshore company and PayPal account goes hand in hand then please post here, you will be a millionaire short time after