|
What is a good options for an offshore merchant account? I'm not located in the US where it is easy to get a good merchant account, do you know of any good options in offshore locations? The country where I set up the company doesn't matter as long as it has minimal tax and bureaucratic regulations. This is for selling software as a service online. |
||||
|
|
|
Generally speaking, I think it would be a mistake to set up a international subsidiary, or deal with banks in other jurisdictions, in the early days of a startups life. When the millions start rolling in you can consider doing tax planning, but not before. Having an offshore bank carries negative connotations in some circles -- i.e. the tax man, and certain customers, could feel negative towards your company if they become aware of this. The merchant account thing is a US (or US plus some other countries) thing. Other countries have different structures, and payment gateways operators who are adapted to this. I think you can get payment processing almost everywhere nowadays. You could open a new question, "How do I get payment processing in country X?". |
|||
|
|
|
That is not good advice. In some businesses, like the adult online business, you have no choice but to use an offshore merchant. Most if not all US banks do not accept businesses from Adult sites becuase they are considered a high risk account. Offshore merchants specialize in this type of account, with a higher rate of course. I do not advise using offshore accounts just for bad credit, but if you have an adult site for instance, you really odn't have too much of a choice. |
|||
|
|
|
I had an IBC with Belize Bank, they offer merchant services as well http://www.belizebank.com/faq_creditcard_corp.html |
|||
|
|
