Setting up a "gofundme" company offshore. Need recommendations!

[buttington]

Dear all,

Sorry for my laziness of not digging deep into the forums. But a quick recommendation would help me a lot in the right direction.

Planning to setup a "gofundme" company where donations are paid from around the world (by donors), preferably by paypal, visa credit/debit cards etc.
And the outgoing payments (to the target donee) through Transfer Wise or similar low cost solution.

I am allergic to regulations, tax, accounting and annual company fees. So I have been thinking about Seychelles company formation. However it appears paypal and payment providers are not favored in Seychelles?

Any recommended country?

Btw, I am a Swedish citizen, living in Vietnam.

 

[Martin Everson]

So you want to handle third-party funds with no regulation to control your activity? You then want to be able to process inbound payments via PayPal and Credit/debit cards? You then want to be able to make outgoing payments via a low cost EMI like Transferwise? Oh and your living in Vietnam.

There is no harm in dreaming I suppose .

 

[buttington]

Well yes that was the plan. So how would anyone start a "gofundme" offshore? Must be some prefered setup.

 

[Martin Everson]

Well yes that was the plan.

That's a bad plan unfortunately.

So how would anyone start a "gofundme" offshore?

You don't. An offshore unregulated "gofundme" is called a scam.

 

[buttington]

So where to start it the easiest way, regulated and with as easy online accounting etc as possible? Anything?

 

[void]

You don't. An offshore unregulated "gofundme" is called a scam.

come on, be nice, it can be surely a case in good faith, it's not his fault that the world is totally fucked up

 

[TurnedToRobot]

OP what's the problem to setup a company in the Seychelles and use an EMI account. Use your Swedish passport to open a PayPal account, connect the EMI to PayPal and you have some sort of solution.

 

[Bmw850]

There is 2 ways.
1. You do everything like in the Bible book : Create a company in a country where you will obtain financial license to allow you to handle third party funds. Then you will have to look at Emi or bank. This process is a bit expensive and long.
2. Madoff style : Everything fake..you will have to invest in a nice shinny website to impress and brings trust, you can also buy a Bentley , it always work and brings idiot(s).

 

[Martin Everson]

So where to start it the easiest way, regulated and with as easy online accounting etc as possible? Anything?

1. First you find backers with seed capital. The Russian Mafia works quite well for this. 99% of the EMI's in Latvia and Lithuania sought money from them. Put your clean name and reputation on top of their operation and code backdoors in for them to use on the platform .

2. Go to a Lithuanian consulting firm like ECOVIS. They do from crowd funding to banking licenses with direct SEPA clearing etc. Use their services to handle the entire application process.

Pan-European Crowdfunding License under the new ECSP Regulation

Licensing under Regulation on European Crowdfunding Service Providers for Peer-to-Peer P2P business financing platform in all 27 EU states

www.ecovis.com

P.S Remember start with good capital, you can't enter financial services with chicken feed money anymore those days are long gone.

 

[Martin Everson]

come on, be nice, it can be surely a case in good faith, it's not his fault that the world is totally fucked up

I know I should be able to offer the public banking and investment fund services with no banking or investment licenses. I don't get why regulation is needed if I am just starting out right . I mean what could possibly go wrong.

 

[void]

I mean what could possibly go wrong.

Things go wrong all the time and it's perfectly fine (despite what we are taught).
To lose money (uninsured deposits, unregulated investments, ...) is simply OK if it was my voluntary decision.
Being "protected" by the law I don't need (or even agree with) and being involuntarily taxed to support enforcing it is evil.

How dangerous the life would be without regulations and licenses, what would we do without those holy wise men protecting us for our own good?
Today we just can't create our own currencies, collect and use third party funds without someone's blessing or have any privacy when it comes our financial transactions.
Tomorrow someone may be authorized by law to tell us what business decisions we should and shouldn't make because it might involve some risk or threaten someone else's business.

 

[Martin Everson]

How dangerous the life would be without regulations and licenses, what would we do without those holy wise men protecting us for our own good?

Unfortunately we all live in a capitalist/globalist world. There is not gonna be no anarchistic society. The world is is corrupt place.

Tomorrow someone may be authorized by law to tell us what business decisions we should and shouldn't make because it might involve some risk or threaten someone else's business.

They started already its called the EU and US. If you got enough money you can lobby to protect your own business interests. You can even lobby to stop competition or ask government for permission to setup your own self regulating body which you can then use to eliminate competitors via the back door.

Being "protected" by the law I don't need (or even agree with) and being involuntarily taxed to support enforcing it is evil.

If you live in i.e the EU then you already live in a nanny state. The state wants to "protect" investors from themselves via MIFID etc . They openly believe people are too stupid to make investment decisions. Governments know what is best for their citizens .

Be prepared for a EU tax and abolition of state taxes. It may take another financial crisis to bring it in but its coming. EU governments will be forced to have their citizens pay state taxes directly to the EU and the EU will decide the budget for each country. All this will be done with little resistance.

 

[void]

Unfortunately we all live in a capitalist/globalist world.

Is it deja vu or did we have similar discussion already? ;-)
Our definitions of capitalism must be very different - I don't see it anywhere - just let me know where to find capitalist society and I'm on my way...

 

[LastHero]

You can try to use Czech Republic company, if your crowdfunding platform will based on Lending model - no licence required.

https://eurocrowd.org/wp-content/blogs.dir/sites/85/2018/06/CF_FactSheet_CzechRep_June2018.pdf

Dear all,

Sorry for my laziness of not digging deep into the forums. But a quick recommendation would help me a lot in the right direction.

Planning to setup a "gofundme" company where donations are paid from around the world (by donors), preferably by paypal, visa credit/debit cards etc.
And the outgoing payments (to the target donee) through Transfer Wise or similar low cost solution.

I am allergic to regulations, tax, accounting and annual company fees. So I have been thinking about Seychelles company formation. However it appears paypal and payment providers are not favored in Seychelles?

Any recommended country?

Btw, I am a Swedish citizen, living in Vietnam.