Do you like this site? Do you want to read more, then please click the Google or Facebook Icon

When considering moving your online business offshore in the sentence the physical location of your company and the legal aspect of it, then it isn’t only the offshore jurisdiction you will have to look at. Many Offshore companies are incorporated where the banking options are limited, this often involve huge reconstructions of the entire organization and company structure once it comes to online payments.

An Offshore Company Formation for instant in the British Virgin Islands or in Belize can have fatal consequences when it comes to apply for a Merchant Account with any bank in the US or even Europe. Many clients don’t face this problem in the beginning while many Payment Service Providers around claim to take on businesses worldwide, often this is true, but the huge rates and fees that follows with the merchant account and payment processing are take a large margin of your profits.

When considering an Offshore Company in offshore jurisdictions like Belize, BVI, or the Seychelles, it should only have the purpose to conduct offline business or be part of a Offshore Holding Company structure which later on will be used to setup a offshore company in an jurisdictions which is “online payment friendly”, in can be of great benefit to have a Offshore Holding company and later register a offshore company for instant in Cyprus which can apply for the merchant account. The benefits are huge tax savings, privacy protection and securing funds, furthermore it is easy to “roll out” another online business for which another offshore company formation is taking place.

When you apply for a Merchant Account for instant with a Cyprus company, you will need to have a few things in place before you apply, following the below will save you time an unnecessary questions from the Acquiring Banks and even the risk to get an decline from the bank.

Beside the Offshore company Formation itself you should also have a bank account for the company, this can also with benefits be opened as business bank account in Cyprus and be used for the Acquiring Bank to transfer your money to. A Cyprus Bank Account comes with advanced Internet Banking in English and you have access to your funds all around the clock, you can send International Wire Transfers directly from the e-banking platform and you can access your account balance.

Further, you will need to have your website ready and to be compliant with the general terms and regulations from the card association, this includes, the Visa and MC logos need to be on the website, your Terms and Conditions for when a sale take place need to be clear visible on the website and very important you will need to have the companies name, address, country and e-mail and/or phone number visible on the website. If the business requires a license, the license need to cover the jurisdiction where the company is registered and within the Acquiring Banks jurisdictions.

CCLOGIC LLC is an Offshore company Formation Agency service, which manage the setup of Offshore Companies, opening of Offshore Bank Accounts and Merchant Accounts for clients worldwide. We have many years of experience in this field and help clients on a daily basis to archive their goals.

Do you like this site? Do you want to read more, then please click the Google or Facebook Icon

“Many offshore banks have very strict rules on who they accept as their customers and contrary to popular belief they don’t accept just anyone as long as they have money! They have their reputation to maintain as a reliable and trustworthy financial institution and it would not be acceptable to them to allow criminals to use their services. Opening an offshore company can give you privacy or anonymity, the confidentiality laws of these jurisdictions are usually very strong and are a legal method of minimizing the tax amount you have to pay each year. “

This is what we wrote in one of our articles for not long time ago, and it is true, almost any bank in an offshore jurisdiction has that strict rules and regulations that they simply are unable to enter into the Merchant Acquiring business. Offshore banks will not be able to obtain a license to clear Visa or Mastercard credit cards often because they wouldn’t be able to withdraw the money from the card holders due to for instant European banks would decline such requests.

For instant if you get a Merchant Account in the Philippines or in Mauritius which both are great known offshore jurisdictions and which also have a license to do credit card clearing for each country, then you will often face the problem that your customers can’t pay with their credit or debit card. This due to the fact that many banks for instant in Europe or in the US simply decline such request because those countries are knows for scam and frauds.

However the problem can be solved very simple. You can become a Merchant Account with some banks in Europe and in countries which aren’t black listed in other banks around the world, once you have this merchant account you can ask the agent or the bank with which you have the merchant account to transfer your funds to an offshore bank account for instant in Cyprus.

Don’t make the mistake and open a Merchant Account in your local bank and ask them to transfer the money to your offshore bank account which might be in any of the different offshore jurisdictions, because they won’t do that.

By using the above model, you will need to face that your payment processing rates and fees might be much higher then what you can get them to in your local bank, but this should make it up with the TAX benefits you get through your Offshore Company. Don’t be fooled by low budget payment processors and payment service providers which promise you a offshore merchant account with a processing rate for instant of 4% or even lower, that’s simply not possible.

Also all the so called “free” service that tell you they will process your Visa and Mastercard credit cards for 3% flat rate, no monthly and no setup fees, they will process the cards but don’t transfer the money to your offshore bank account, and even if they would like to do that, then their financial institution will decline that request.

As solid Offshore solution for instant in Cyprus isn’t easy to get done. It needs the experience and knowledge from people which have been working in both the Merchant Acquiring and the offshore company formation business sectors, There are only a limited number of Offshore Service Providers which can help you and also assure you to become the real and right solution, many other will fool you into something you have better been without.

For the real solution which both it secure and reliable contact cclogic.com the experts in Offshore Merchant Services