buildingblocks

Hi,
I'm setting up my paysite atm and just found out that I need to get incorporated either in the US or EU to use ccbill? I live in Canada and was wondering what's the cheapest why to process? Should I incorporate in the US or EU? I read some threads about people doing it in Gibraltar cause of tax purpose etc. Is it recommended to incorporate there rather then the US? Would it be alot more hassle to incroporate in EU? Read a thread about people incorporating themselves instead of hiring an accountant or attorney to do so in the US, can you do it for EU? I got a quote from someone to get it done in NV for $850 how does that sound?

GreyWolf

Where to begin? You are asking for answers to many issues/sub-issues.

There are many reasons, but if you are a citizen of Canada - suggest you incorporate in the EU. This does not "have" to be a Gib corp.

The cheapest can be the most expensive in the end. There is little difference in hassle factor whether the corp is in the US or EU. Regarding professional advice on a corp - if you know whatever corp law already (and also the relevant laws in Canada which will prob affect taxation) - you can simply order your corp. But - if you are not familiar, get professional advice, both from your Canadian accountant/lawyer and also from a lawyer in whatever jurisdiction you elect to form your corp. Any corp formation lawyer/agent in the jurisdiction you decide on, will provide advice.

This is not something worth rushing over - take some time to get familiar with the benefits of whatever jurisdictions first. There are numerous websites covering these topics globally and generally the information is accurate, but don't fall for some "corp trader" selling companies, bank accounts et al for $2500 - deal with a recommended formation agent/lawyer

buildingblocks

Awasome! thx for the great info GreyWolf

GreyWolf

Here's a few links which may be a good starting point, but it's worth listening to your own accountant in Canada as to what may be best at your end. But, it's also worth knowing what can be good in other jurisdictions and questioning your accountant on these.

Here's a couple of Gib lawyers/formation agents - both will answer questions, but the sites are handy for background info. If you choose to use Gib, the type of corp you need is a "Gibraltar non resident". Gib corps cost a little more, but there may be other benfits which exceed any cost.

http://www.offshoregibraltar.com/
http://www.gibraltarlaw.com/

Here's the main corp formation agents in the UK. A UK corp may be all that is needed. Again the terminology is "non resident" and there will be no taxes applicable within the UK and a UK corp is cheaper than Gib. They have people available to give guidance.

http://www.jordans.co.uk

The reason for suggesting a non-US corp is simply because of filing requirements and there are more processors to chose from within the EU Visa banking region (tho a number of these are parented in the US, but separate companies).

When it comes to corp bank accounts, if you chose a Gib corp, it is not permissable to having banking in Gibraltar, but there are plenty offshore banks to choose from without having to physically go to these locations. It would also be "normal" to have banking outside the jurisdiction of the corp.

The first issue is probably whether you want "onshore" or "offshore" and best to check with your accountant re this

buildingblocks

How much did it cost you guys to get incorporated in Gibraltar? I just read a bunch of info that have on http://www.offshoregibraltar.com/ and if I'm correct it cost £ 1200 to get incorporated through them. Show me some numbers so I know if this is a good price or no = )

GreyWolf

Just checked the spec on their site - this includes a few items and with a director, reg office and POA - and includes the first year fees, so sounds reasonable. Can't say, but it may be that you do not need some of these items, but better to check it out with them direct.

Also.. forgetting any money angle, it's better to deal direct with offshore laywers or formation agents you can have an ongoing relationship with and they are OK for that

GreyWolf

PS... Yep.. price is OK... Just checked a few websites and they are all generally charging more - basically resellers and people not to work with.

Here's a sample for the same thing, but the price is over GBP 2000...

http://www.offshoregate.com/gibraltar.html

buildingblocks

It appears that I will be needing a "Principle" in the EU regent to the incorp to successfully sign up with ccbill. Does it mean that the principle will have full control over my incorp and ccbill account since he will be presenting his passport docs?

buildingblocks

legal help bump = )

AGS-17

bump for