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What offshore company for bank account and paypal?

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OffshoreMentor

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Feb 13, 2017
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#1
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Hello,

really new to all of this. I have read the forum for a week without signing up, today I thought it's time to ask some questions in hope that someone is able to help answering them.

My question is, I need a offshore company, a bank account and I need PayPal or other payment processor like 2checkout that allow me to accept paypal.

What company do I look at to register for this purpose?

Will I need a nominee director?
Will I need to have a nominee shareholder?
Can I avoid to use my documents?
 
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#3
Welcome aboard :)

You may first think about if you need a real PayPal account or if you can use services like 2checkout. Depending on the answer it is possible to guide you in some direction.
 
#6
FullDISK said:
Is not a problem if you use a US Bank. The paypal only allow you US bank for offshore companies.
Click to expand...
Do you have any experience with that? also what are the costs for such a US bank account?
 
#7
Admin said:
Do you have any experience with that? also what are the costs for such a US bank account?
Click to expand...
No, I do not have any experience with US Banks.
I have experience with paypal, they allow offshore companies, but is required a US Bank account for Withdrawals. Some people use CC for Withdrawals, but its expensive because paypal charge a lot of fees ( 5% I think so )
For example, if you have a Belize company, and need a paypal account, you can open the account, but will be a problem for Withdrawals, unless you have a US Bank account.
if you have a European company and want a PayPal account, you can fill any bank in Europe. These rules are a little stupid, but its because the FACTA rules, note that Paypal is a US company.
 
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#8
If one for some reason is unable to open a US bank account then it can be done with a Cyprus setup but it may be more costly compared to other options.
 
#9
OffshoreMentor said:
Hello,

really new to all of this. I have read the forum for a week without signing up, today I thought it's time to ask some questions in hope that someone is able to help answering them.

My question is, I need a offshore company, a bank account and I need PayPal or other payment processor like 2checkout that allow me to accept paypal.

What company do I look at to register for this purpose?

Will I need a nominee director?
Will I need to have a nominee shareholder?
Can I avoid to use my documents?
Click to expand...
PayPal will get you troubles, big troubles.. so need to be patient and have some good VPS in place for this to wok! Otherwise setup your corp with real person nominee so you can get them to answer questions from providers.
 
#10
FullDISK said:
Hi

If you need use paypal you have these options,
- European Company with bank in Europe
- Non-European Company but need use US Bank account. (You can use Credit card for withdrawals but take care about the fees)
Click to expand...
I read you know lots about Scottish LP can I run a shoe business with this entity? and you are 100% sure I can open a PayPal account right? also how many owners I need to have for a LP if I don't want to register a Cyprus Company?

For now I consider my options.. I can find all information I need about Cyprus (thanks admin) but not much about laternatives like Scottish LP, Malta, Gibraltar or other??
 
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#11
Well, I still have my SLP, but I asked for close it because there is 2 nominees and now I opened a UK LLP (in my name) without nominees for clear business.
About SLP, is simple, you need 2 nominees (if looking for 100% privacy, normally the agent provide that nominees), and each year you need fill the Annual Return (Normally is the agent that do that).
For open the bank account, you need provide to them the Docs of the SLP (Agent have sent them to your address before) and they also will ask for the docs for each dominee (Normally the agent will provide that docs).
Is as this works... No accounters, No audits, No Invoices, only annual Return.
Anyway I advise you ask to your agent before open any company ;-)
 
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#13
wtf said:
Thank you @FullDISK can you tell me why do you changed to a UK LLP from an SLP ? just so I may get a better understanding about it:)
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I told you...
Because at the moment I do not need privacy, for that reason LLP is better for me because has a reliable structure for my legal business, and UK LLP vs SC LLP, I opt for UK because its cheaper :p
Attention: An LLP need Accountants and Audits, works as a normal company, for that reason I advise you an LP.
You can search in the google the difference and as this works, its simple. Also for 100% privacy, dominees resolve it.
 
#15
FullDISK said:
No, I do not have any experience with US Banks.
I have experience with paypal, they allow offshore companies, but is required a US Bank account for Withdrawals. Some people use CC for Withdrawals, but its expensive because paypal charge a lot of fees ( 5% I think so )
For example, if you have a Belize company, and need a paypal account, you can open the account, but will be a problem for Withdrawals, unless you have a US Bank account.
if you have a European company and want a PayPal account, you can fill any bank in Europe. These rules are a little stupid, but its because the FACTA rules, note that Paypal is a US company.
Click to expand...

Hi,

I would really appreciate if you can recommend or share with us the name of the agent or the agency that can help me setup an offshore structure for an e-commerce business that will sell digital goods and needs a payment processor like Paypal. Thank you in advance.
 
#18
No, this time as I need acontants and do not need "privacy", I opened with JordansTrustCompany is a complete company that works directly with HMRC & Customs.
Yes, is a legit company, very friendly.
 
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#20
Is Scottish LP, UK LTD and Cyprus Ltd the only entity we can open a PayPal account and stay anonymous if nominees are used?
 
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