Any suggestions as to who can lend a helping hand setting up an offshore corp? (we tried this once and got fucked)

p00p:

Sure.. basically deal direct with formation lawyers in Gib - forget any other purported experts on this.

Depending on what you need in the way of services, there is no need to pay anyone more than 1300 for this. Also, at no time need you pass information re banking etc to any of your nominee directors, - that is your business and yours alone.

I notice you said you'd been ripped off before? We have offshore corps in several juridictions and never experienced any problems. In fact, on all occasions the lawyers could not be more helpful (shit.. that's saying something about a lawyer!!!).

Gib is not exactly some South Pacific con center - any shit with lawyers in Gib and they serve a term :-)

Here are some links for general guidelines:

http://www.deloitte.gi/taxation.html

http://www.gibraltaroffshore.com/gib...quirements.htm

http://www.formationshouse.com/compa.../Gibraltar.htm

I am not recommending these sites in particular.. just a guide. When you do choose a formation agent/lawyer, I'd suggest you only use one who is actually physically in Gibraltar. (not some asshole in the UK or somewhere who is giving "advice").
There is a vast difference in our experience with people who actually live in offshore jurisdictions, than "consultants" that just aim to collect a %.

If you need to open any bank accounts for this corp .. get the paperwork first and have a look at, for example, Lativan banks.
They have a proven record and offer online banking, credit/debit cards, and will issue check payments (within an hour sometimes!) to any US hosting company on your instructions. English and all major languages spoken ;-) I'll repeat again *s*, - no other party needs to know either where or what banks accounts exist (if they even do! *g*). You deal direct with banks based on pre coded faxes and online instructions.

I dunno your circumstances so tis hard to say more, but with the current climate in North America/VISA... moving activity out is not a bad idea :winkwink:

Hope this helps!

i am with acpay for about 4 months and i am very happy with them. i would rather to pay the $750 to acpay than any other processor, but as i am a non-us/canada citizen, im going to pay only $350 :D

anyway, people forget acpay is a company backed up with millions of dollars, and as they are "new" as a paysite processor, people think they are not so good. big mistake.

It cost $1300US for a UK incorporation... got the papers in 3 weeks. Told them I won't have any incomes from UK so we only pay the annual fees.

The whole US thing is way too complicated. I pay enough taxes the way it is... so fuck 'em all.

the indigo:

Yep.. agree with ya :thumbsup Tho ya did pay above the average for a UK corp! (but depends on advice blah).

We ... for about 5 seconds... considered a US corp, but there is no way we will disclose information that is no business of anyone apart from us. US citizens may accept this as the "norm", but I sure don't!

Frankly, I can't see a US corp being a cure to this banking region. It may be a five minute solution, but that's it. :glugglug

I know, but they have one of their international office 2 blocks away from my condo... so I prefered to deal directly with a guy that I can meet and talk in my first language... he knows what the fuck he's talking about :glugglug

I considered Gibraltar and Cyprus also... but I don't feel too secure about Gibraltar. There's a lot of shit going on. I bet they will join the European Union before 2005 (IMHO)... UK is solid.

what is that company? is it in Montreal.
I'm interested about a UK corp!

thanks :)

Glo-bill accepts webmasters from Canada and apparently has for years. On their board they also say that they are in compliance with their Visa region and will not be altertinng thir rules unless the rules in that region changes:

-------------------------------------------------
At the current time, Glo-Bill has no plans to charge any registration fees. Glo-Bill remains in full compliance with all the rules and regulations in the region of the world where it processes. Should the rules and regulations change at some future time, Glo-Bill will notify its clients as soon as possible. At the present moment, we do not anticipate any change in the way we conduct our business.

best regards,
Christy Martineau
Client Relations
Glo-Bill.com

Can you post the name of the company that set up your corporation? Also, did you have to set up a UK bank account? Do you have to pay taxes in the UK and try to get them back later?

That's a bold statement. Almost like some of the ones I heard ACPay make. If you guys can get by without charging the $750 to your customers, more power to you. If at this time, next year, your clients are still processing without paying the Visa fees, I will rim you until you beg me to stop.

http://www.insad.com check for Contacts Canada.. sur rue Crescent @ Montreal

insad.com - I did not have to setup any bank account.

p00p:

Here is a company in the UK that will set up what you need:

http://www.waterlow.com/companyservices/ukform.htm

(It will also save you save money! *g*)

You do not need to have a bank account in the UK... in fact, it is preferable that you don't. Just use some bank in your country.
You will need to state that you are not earning income from the UK (net income is fine!). After that, you are not in the UK tax regime.

Thanks peeps!
Awesome information. I don't make enough to go offshore, I think the best bet is to get a UK corp. Wonder if they take Visa? :Graucho

Jact,

When have I not responded? I may not see all posts because I am not on here all of the time. However, I will be happy to tell you what I know. I am not a merchant account expert although I am an expert on processing itself. The trouble is that each bank and region has their own rules and they do change often. I will be happy to speak with you on the phone, via, ICQ, or email.

Contact me however you wish. My middle name is "customer service".
---------
As a summary at this time for Canadian adult who want to use Netbilling....

You must setup a EU corp, have a signer and get a EU merchant account. The bank will only take the account if you are currently processing over 50k per month and can back that up with statements from your current processor.
The US banks will not give you a US merchant account with just a US corp and bank account. Someone must have a US address and Social security # because of cross border regulations.

I will be back on late tonight so please post any questions or contat me direclty off the board.

Thanks, Mitch

it looks like that this thread should be called Canadian webmasters get fucked again.

the disclosure requirements are the main reason I wouldn't want to incorporate in the US...

the UK sounds like a good option..

terrific thread.

p00p:
Yup.. they take credit cards no problem! :winkwink:

Um, yeah. Processing for when Visa says no to all this.

Kinda sucks, I am looking into the US corp. end of things, but if it's gonna be a pseudo borderline prospect at best... then the deck of cards may come falling down to earth at some point in the near future

not to mention the tax scenario... pay tax in the US, and pay tax again when it comes to Canada, two accountants, barfola :throwup

this is becoming too much like an overregulated pile of junk, instead of free enterprise at it's best

It was via ICQ actually, but thanks for answering the question here.

So if I'm the owner of said company and my employee or someone represents my company on the application to the bank/Visa/whomever, is that cool or do all principal owners of the company have to be US?

Rip:

Rip.. ya gotta think hard about the US corp thing. There are loads of implications to it - even just because it is in the US. (That reads "control" and they got ya by the bollocks!).

It is far safer having a corp in some other country that has the benefit of a range of processors who can take your business without you having to open your soul to them and pay $750 for the priviledge and have withholding taxes.

The criteria is... where is there a number of processors who can handle your biz? Look to European countries... even CCBill has representation there and there are a good few others.

Example above of UK and Gibraltar are just a couple - by the way "offshore" has a myth about it. I've been "offshore" for a good few years now and have several corps in various jurisdictions. There is little difference to being "onshore". The main thing is there are no taxes, so it is up to you to declare funds you bring into your home country. It also costs no more to be offshore.

Having said that, this offshore stuff does not apply to US citizens in the same way... they gotta pay taxes to the regime in Washington wherever they are. Canada does not have restrictions like this.

Welcome to reality. In case anyone hasn't heard, Visa US is now handling compliance issues for Visa International as well.

As to the instigation of fees for other regions, I have heard nothign to that effect.

Cross border acquisition is being wiped out tho...

I also heard a nasty rumor that a major Euro bank put the brakes on a number of these 'numerous European high risk processors' you are discussing.

Correct.. was in relation to IBill - again! :winkwink:

Ibill is one. I said many.

Nope... was contamination from Ibill... but hell, who knows that will happen tomorrow! :glugglug

Um, no, I didn't have cotton in my ears. It was more than one. Many more than one.

Thanks for the insight, it may well be worth looking into

I am just so freaking pissed off, after developing my paysites, so they convert better than all the other programs which I resell for, not to mention all of the other goodies, that I just made specifically to keep surfers recurring and get them past the trial and cancel mentality

I mean that's why I started them, I saw poor ratios and recurrs, and thought, hell I can do better than that, and I did

oh well, I am gonna have to rethink everything.. again

:Graucho

Fine!! You obvious know!

OK.. I have to admit that I don't open the VISA/banking mail coming into processors in Europe, but I do deal with several and there is no problem. At least... up to this time!

You got something against Euro processors?? :Graucho

Which US billers that have branches in the UK do you figure are safe to go with if I get a UK corporation? Wouldn't CCBill etc. be considered a high risk processor, even if they comply?

Suggestion - Use Pro Defence Billing, they don't have a sign up fee!

Soloution - Sign up today

How - Log on to www.prodefencebilling.com

There's an idea, a company I've never heard of from someone with 4 posts.. Okaaaaaaay.

OK.. I'll try and answer your question...
The "high resk processor" bit is going to apply to all adult business.. so, in any event, you will be "high risk". And yes, CCBillEU would be a high risk processor.

Regarding the geographical matter, that is more complex, since hell knows what VISA may do next. But, at the moment the EU is treated as a banking region. EU webmasters, say the were incorporated in UK (within the EU), can use any EU processor.

For what it is worth, there are, I think, about nine global banking regions. So far, only one region has agreed with the VISA proposals for change in the last year. This was VISA/US. The EU rejected the VISA proposals for change.

But.. time will tell.. tis a volatile situation!! :glugglug

:1orglaugh :1orglaugh :1orglaugh

Visa is comprised of six regions.
Visa¡¦s six regions are Asia Pacific, Canada, Central and Eastern Europe, Middle East and Africa, European Union, Latin America and Caribbean and the United States.

Got ya!:glugglug

The thing that pisses me off the most, is it's not that I am tring to get around the system, or beat the system... I am trying to join with the system, they are just making it very nearly impossible

:(

From what I understand, there are only two ways possible if you are Canadian. Get a UK presence, or a US presence. There are lots of other processors I could go to that I wouldn't have to pay the $750 fee. Yet. But I am getting tired of this bullshit, time to ante up some coin, comply the best we (Canadians) can, and carry on. It is plain as day Visa is clamping down, and they mean it. To me, in this situation, you can run, but you can't hide.

Or, don't run your own paysites. :Graucho

Rip:

That's the irony!! There is a "war" going on out there at different levels - basically an attempt by monopolies and others to make rules as to "what should be" globally. The tide is going against this at the moment for many reasons :glugglug

Why the fuck is Canada the ONLY single country and also a " zone". All other zones consists of MANY countries. Why aren't we with all the "Americas" and Carribean....

After all, we are often referred to as a " Banana Republic"....

I am going to call that chick of the government. Time she get her tush off her seat!

---------------------------------------------



April 17, 2003

EBS-0085




Monsieur XXX XXXX
[email protected]


Monsieur,

J?ai bien reçu votre courrier électronique du 7 octobre 2002 au sujet de nouvelles procédures instaurées par VISA USA pour le traitement de transactions des sociétés non-situées aux
États-Unis. J?ai pris bonne note de vos préoccupations. Veuillez m?excuser de n?avoir pu répondre plus tôt.

Comme cette question relève de la compétence du ministre des Finances, j?ai acheminé votre courrier électronique à ma collègue Diane Lafleur, Chef principal, Planification et coordination stratégiques, Finances Canada, pour qu?elle puisse y accorder toute l?attention désirée.

Je vous prie d?agréer, Monsieur, l?expression de mes sentiments les meilleurs.




Paul Robertson
Directeur
Direction de la politique commerciale sur les services (EBS)
Ministère des Affaires étrangères et du Commerce international
125, promenade Sussex
Ottawa (Ontario) K1A 0G2
Tel./Tél. (613)944-2034; fax/téléc. (613) 944-0058
[email protected]


c.c. Diane Lafleur
Chef principal, Planification et coordination stratégiques
Finances Canada

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