Hello,
I have a web hosting business that I want to move offshore so that all profit can accrue tax-free.
I am sooo confused. The more I try to nail down the best offshore structure for my needs... the more confused I get. It's like playing a game with no rules. Every person I speak with gives a different suggestion, and there are hundreds of service providers who are just trying to sell the most expensive package they can. (ie: If they are based in Seychelles, then they will recommend Seychelles corporation as best.)
So I'm back in the forums here again to ask for more advice and suggestions.
Here's some information about me and my needs:
As I mentioned, it is critical that I have a good merchant account, so I started my original "what offshore structure do I need" quest by trying to find information about that. The problem is that very few offshore service providers are willing to even give out their bank names, let alone provide information on merchant account discount rates and the many processing fees involved with that stuff.
Most offshore service providers tell me I should first setup the company structure and then get a merchant account. But how am I supposed to know where to setup the company or what structure to use if I don't even know if I can even get a merchant account once that is done? I don't want to spend $10k setting up a great offshore structure, only to discover I can't get a decent merchant account.
What do you think? Here is my short list of "customer facing" company jurisdictions that seem to have decent merchant account opportunities:
- Kong Kong (through HSBC bank)
- Cypress
- ??
As you can see... I am really stuck.
Thanks!
I have a web hosting business that I want to move offshore so that all profit can accrue tax-free.
I am sooo confused. The more I try to nail down the best offshore structure for my needs... the more confused I get. It's like playing a game with no rules. Every person I speak with gives a different suggestion, and there are hundreds of service providers who are just trying to sell the most expensive package they can. (ie: If they are based in Seychelles, then they will recommend Seychelles corporation as best.)
So I'm back in the forums here again to ask for more advice and suggestions.
Here's some information about me and my needs:
- I have a basic web hosting business (low risk) that I want to move offshore, so that all company profit can accrue tax-free.
- The business is 100% virtual. There are no physical goods.
- Having a good (reliable and not over-priced) credit card merchant account is critical and absolutely required. If I can't receive payment from my customers, then the whole thing is pointless.
- My customers do not care where my business is located. The only thing they care about is being able to easily pay with their credit card. (I don't want to use paypal or 2checkout, etc...) I have used an onshore merchant account provider for the last 12 years, and I do not want my customers to notice anything different when I switch to a different (offshore?) merchant account provider.
- I have a passport for Canada and for France. I currently live in another EU country (not France), but I plan to eventually retire in Canada.
- I do not want my personal information to be easily (publicly) discovered if the tax authorities of either France or Canada look at the offshore company or bank details.
As I mentioned, it is critical that I have a good merchant account, so I started my original "what offshore structure do I need" quest by trying to find information about that. The problem is that very few offshore service providers are willing to even give out their bank names, let alone provide information on merchant account discount rates and the many processing fees involved with that stuff.
Most offshore service providers tell me I should first setup the company structure and then get a merchant account. But how am I supposed to know where to setup the company or what structure to use if I don't even know if I can even get a merchant account once that is done? I don't want to spend $10k setting up a great offshore structure, only to discover I can't get a decent merchant account.
What do you think? Here is my short list of "customer facing" company jurisdictions that seem to have decent merchant account opportunities:
- Kong Kong (through HSBC bank)
- Cypress
- ??
As you can see... I am really stuck.
Thanks!
