Which company formation for my online business?

[alexova]

My case:


I am selling a hair loss product containing only 100% natural ingredients. It's not a medicine. It's a clean and legal ecommerce business (no critical/high risk stuff).


I am based in the Netherlands.


Now i need a company formation + bank account + merchant account to get this shop started.


Questions:


- Which company formation do you recommend for this type of business? Cyprus, Seychelles...?


- I need a business account mainly to receive payments from my customers. Which one would be suitable?


- Will there be a problem with finding a merchant account? I don't have a processing history and I'm not sure if the transaction value for the first month will be >5.000$.


I want to start this thing as quick as possible. No time to deal around with paperwork for 4-5 weeks. So any advices on how to speed things up would be much appreciated!

 

[JohnLocke]

Wellcome aboard alexova,


To make it less complicated and expensive, I would recommend you to incorporate a company in Cyprus and open a bank account there as well. Cyprus is part of the EU and for that reason it will be easier and cheaper to find a EU processor which will accept the Cyprus company and also agree to transfer the money to Cyprus.


With the volume you are mentioning I doubt you will be able to achieve your own MID (Merchant Account) but you will rather be able to open 3rd party processing account to start with and later, once you have growed your business you can switch to a own MID.