offshore setup

I would like to know too. We are in the same boat :)

ankurs said:

i need a offshore zero/no tax setup with paypal, i am looking at below options
1. seychelles ibc + cyrus bank + cy virtual office + cy ip

2. cyprus ibc + cyrus bank + cy virtual office + cy ip

3. seychelles ibc + costarica bank + cr virtual office + cr ip

can someone tell me which of these would work well, we deal with software services

Welcome aboard ankurs 👋

The point is which payment processor you will want to make use of? For instant if you can depend on 2checkout.com, Moneybookers / Skrill and similar service only but require PayPal payments and a real merchant account by for instant RBS WorldPay or Barclays etc. then the only option I see for you will be a Cyprus company or other EU entity that will be accepted.

Otherwise you will need a more sophisticated setup which will be more expensive and include more than 1 offshore company, if you want to avoid to pay corporate tax.

First find the payment processor and then define the offshore jurisdiction. There are only a few payment processors who take on offshore companies for merchant accounts as I understand so we may be even forced to register a onshore / UK company to solve the issue?

2. cyprus ibc + cyrus bank + cy virtual office + cy ip

That's the way to go and the only one if you want a PyaPal account. Don't forget to appoint nominees otherwise they won't accept it.

I read a thread where someone is using Pioneer with an Seychelles company and PayPal or was it a Cyprus company, pioneer and paypal? Anyway it seems there are alternatives.

You mean these guys, Blueweb, payoneer.com/PayoutsWebBased/IPSP.aspx ? I will open an accoutn with them to test.

Last edited by a moderator: Aug 15, 2012

Yeah, payoneer.com is a great solution to workaround the issue with PayPal and offshore companies.

1. seychelles ibc + cyrus bank + cy virtual office + cy ip
2. cyprus ibc + cyrus bank + cy virtual office + cy ip

3. seychelles ibc + costarica bank + cr virtual office + cr ip

Seems all to work as long as you connect a payoneer.com account to withdraw money from your PayPal account.

If you can apply with a Seychelles company for a 2co.com account then you can get a Payoneer account as well. So you can connect the payoneer card to your PayPal account and wola you have a fully working Seychelles company with PayPal account and you can withdraw your money at any time in the worldwide atm'sdoublethumbsup

Why will you need a Seychelles IP? do you think PayPal will have any issues or 2co or Payoneer?

Does anyone actually know if it will require a Seychelles IP for this to work?

Because PayPal is country specific some say and for that reason you will need to access your account initially with a IP from the Seychelles if you provide Seychelles ID to them.

Do any of you think it will be required on a permanently basis to login from a Seychelles IP or only in the verification period?

I think it will be required in the verification period only. After that, you can login from several countries as you like..

I have only found 1 data center in the Seychelles where you can do colocated server hosting and that's it. So if someone want to enter this business and has the proper IT skills there may some money to make.