Seychelles company, bank account and corporate Paypal account.

[Torxcrew]

Hi everyone,

Thank you in advance for your help - it's a jungle out there and i dodged a few scams in the past few days, so finding you is like water in the desert.

I have an online business (legal and not crypto related, although I buy BTC from time to time.) and I want to open a Seychelles company and bank account. I get paid only with paypal invoices, so it is mandatory to cash out USD to a bank account. Can you recommend anyone who could help me achieving that in a relatively short time?
At the moment I'm using my personal Paypal and that's not good, I don't want to circulate so much money on it. I want to do everything with my offshore corporate account.

I have a few extra questions:

1. Will the bank account support TransferWise, in case transfer fees are high?
2. From what I read, it is best not to specify the nature of my business to company formation agents, as they might surcharge if they smell $$$, is that correct?
3. Do I actually need to form an offshore company, or will I be safe if I open an offshore bank account and a PayPal account to match? In that case, how can I verify the Paypal account once I exceed the $25K threshold?

Thank you again and hope to get everything sorted out in the shortest possible time!

 

[James Turner]

Hi everyone,

Thank you in advance for your help - it's a jungle out there and i dodged a few scams in the past few days, so finding you is like water in the desert.

I have an online business (legal and not crypto related, although I buy BTC from time to time.) and I want to open a Seychelles company and bank account. I get paid only with paypal invoices, so it is mandatory to cash out USD to a bank account. Can you recommend anyone who could help me achieving that in a relatively short time?
At the moment I'm using my personal Paypal and that's not good, I don't want to circulate so much money on it. I want to do everything with my offshore corporate account.

I have a few extra questions:

1. Will the bank account support TransferWise, in case transfer fees are high?
2. From what I read, it is best not to specify the nature of my business to company formation agents, as they might surcharge if they smell $$$, is that correct?
3. Do I actually need to form an offshore company, or will I be safe if I open an offshore bank account and a PayPal account to match? In that case, how can I verify the Paypal account once I exceed the $25K threshold?

Thank you again and hope to get everything sorted out in the shortest possible time!

It is certainly possible to create a Seychelles Company and open a USD bank account for it and banking will be available in several locations. Whether that is acceptable to Paypal or not, you should check.

- I would not expect transfer fees to be so high that they are prohibitive to be honest. Using TransferWise with a bank account should is not an issue in my experience.
- You should be honest with any formation agent about nature of business otherwise they will find it almost impossible to successfully help you obtain banking. In my opinion it would be unethical to charge fees on the basis of your own income, certainly we do not do that and I am not aware that other agents increase fees based on your income.
- It is my opinion that a company will be needed. If you perform business transactions through a personal account then it is likely to be closed/frozen by the bank. A business account where the nature of business has been approved in advance is your best option so as not to experience problems later.

 

[Torxcrew]

It is certainly possible to create a Seychelles Company and open a USD bank account for it and banking will be available in several locations. Whether that is acceptable to Paypal or not, you should check.

- I would not expect transfer fees to be so high that they are prohibitive to be honest. Using TransferWise with a bank account should is not an issue in my experience.
- You should be honest with any formation agent about nature of business otherwise they will find it almost impossible to successfully help you obtain banking. In my opinion it would be unethical to charge fees on the basis of your own income, certainly we do not do that and I am not aware that other agents increase fees based on your income.
- It is my opinion that a company will be needed. If you perform business transactions through a personal account then it is likely to be closed/frozen by the bank. A business account where the nature of business has been approved in advance is your best option so as not to experience problems later.

Thank you for your reply.

- How do I find out whether PayPal directly supports Seychelles bank accounts?
- Do you know any good company formation agents? I dodged a terrible scam and I'm not in the position of wasting 2-3K USD....

About the nature of my business I have nothing to hide, I can be very clear with the bank, no problem at all.

 

[James Turner]

Thank you for your reply.

- How do I find out whether PayPal directly supports Seychelles bank accounts?
- Do you know any good company formation agents? I dodged a terrible scam and I'm not in the position of wasting 2-3K USD....

About the nature of my business I have nothing to hide, I can be very clear with the bank, no problem at all.

- I would suggest contacting Paypal. They will be able to tell you what is acceptable to them.
- We are company formation agents.

 

[Torxcrew]

- I would suggest contacting Paypal. They will be able to tell you what is acceptable to them.
- We are company formation agents.

Thank you for your prompt reply.
After a rough internet check I read mixed reviews on TurnerLittle. I know people want impossible things and just love to throw poo-poo at others, but still i'd like a bit more reassurances from you.

- Can you guarantee the opening of the bank account once I make sure PayPal can be linked to it? Could you be more specific about which banks you deal with? So I can see if there's any issues with them and PayPal.
- What would the total price be? In GBP is fine.

Many thanks

 

[James Turner]

I would need to gain a full understanding of your nature of business, residential locations, how you operate, where funds will come from and go to, your specific requirements regarding the company etc so that I can confirm the position. A more detailed discussion is necessary to provide firm information.

 

[Torxcrew]

I would need to gain a full understanding of your nature of business, residential locations, how you operate, where funds will come from and go to, your specific requirements regarding the company etc so that I can confirm the position. A more detailed discussion is necessary to provide firm information.

Sure. I run a copywriting + SEO opttimisation business. Bloggers, private people and companies ask me to write, revise or rewrite their text, either for marketing, personal or search engine placement purposes. I have quite a lot of orders every day, both from new and existing customers. We process about 10-20 orders a day, sometimes less, sometimes more.

I am a UK resident, although I spend the winter months in Asia.

I don't have any specific requirements except than invoicing and receiving PayPal payments to my offshore account. I mentioned Seychelles but it could be Planet Saturn for all I'm concerned.

I hope that answered your question.

Cheers