That's one of these topics to be discused here,in the mentor group.
Actually San Marino is one of these few countries where piracy is legal, what do you think about setting a company there for such purpose?
Ultimately, the local laws of where the company is incorporated matters less and less if you violate laws somewhere else. Just like tax, you may end up having to answer to local laws of where you live.
For crypto only? Sure, could work. Cash it out through some creative, legal arrangement and live a happy, low-tax life in San Marino. Just be very, very careful. It'd be a boring life you end up unable to leave. Although San Marino would might even revoke residence permit rather than risk getting on Italy's or EU's bad side, if you turn out to be some bigtime mastermind criminal.
Fiat is where things get dicey. The banks in San Marino are wholly reliant on parties in WTO member states to function, so access to fiat currencies is not going to be that much easier than elsewhere. Same goes for payment processing.
Ultimately, the local laws of where the company is incorporated matters less and less if you violate laws somewhere else. Just like tax, you may end up having to answer to local laws of where you live.
For crypto only? Sure, could work. Cash it out through some creative, legal arrangement and live a happy, low-tax life in San Marino. Just be very, very careful. It'd be a boring life you end up unable to leave. Although San Marino would might even revoke residence permit rather than risk getting on Italy's or EU's bad side, if you turn out to be some bigtime mastermind criminal.
Fiat is where things get dicey. The banks in San Marino are wholly reliant on parties in WTO member states to function, so access to fiat currencies is not going to be that much easier than elsewhere. Same goes for payment processing.
What if you only uses a company there as a payment agent?
You will not have more PSP options than you would otherwise (probably fewer, because San Marino is considered exotic/high-risk). Visa and Mastercard don't allow piracy regardless of where the merchant is located. Same for every other payment method. They have to comply with their own laws; not the laws of where the merchants are.
You will not have more PSP options than you would otherwise (probably fewer, because San Marino is considered exotic/high-risk). Visa and Mastercard don't allow piracy regardless of where the merchant is located. Same for every other payment method. They have to comply with their own laws; not the laws of where the merchants are.
Obviously you are not saying that you are dealing with piracy just acting as a legit business
Being incorporated in San Marino doesn't make any less likely that you lose a merchant account. The PSP is still (unknowingly) processing payments for a business it is not allowed to process for, since they are located in or at least reliant on a partner in a WTO member country.
If your merchant account is detected for involvement in piracy, the PSP isn't going to look at it and go "Oh but they're incorporated in San Marino so this is all totally fine." They can't process for piracy even if it's legal where the company is incorporated.
A better solution is to work with PSPs that are aware of what you're doing, looks the other way, and lets you do your thing as long as you don't get any chargebacks.
Being incorporated in San Marino doesn't make any less likely that you lose a merchant account. The PSP is still (unknowingly) processing payments for a business it is not allowed to process for, since they are located in or at least reliant on a partner in a WTO member country.
If your merchant account is detected for involvement in piracy, the PSP isn't going to look at it and go "Oh but they're incorporated in San Marino so this is all totally fine." They can't process for piracy even if it's legal where the company is incorporated.
A better solution is to work with PSPs that are aware of what you're doing, looks the other way, and lets you do your thing as long as you don't get any chargebacks.
Uhmm you are right maybe some piracy friendly PSP would be the best + residence in a country without extradition
Uhmm you are right maybe some piracy friendly PSP would be the best + residence in a country without extradition
Could you please provide a link or information, that states that piracy is legal in San Marino? I'm aware that San Marino is not a WTO member state, but I'm not aware of their specific copyright laws?
Thank you in advance!
It's not like this any longer. Actually I'm looking into similar solution by looking at the competition in this market. There is so much money to be made here so there must be a solution somewhere on earth.
