Offshore Locations For Ecommerce Setup

[samsiam]

Wondering if anyone has some knowledge and experience with this.

Need an offshore location for a company and bank accounts....but catch is it needs to work well with merchant payment systems such as paypal or any other such 3rd party payment system for credit cards.

This is for tax and protection purposes and NOT for secrecy purposes, we need and want to be open and transparent.

I have read and heard of many problems where merchant services will not support businesses that are formed in certain locales and that may be domiciled in one country with bank accounts in another country etc.

Currently Hong Kong looks the best option that I can gather.

Hope someone has some useful advice.

Cheers.

Edited April 28, 2012 by samsiam

[phomsanuk]

For USA citizens,

I know you are not hiding but you still need to report as if you were..

Congress has arrogantly passed legislation to control foreign banks on foreign soil. FATCA, for example, requires that every single bank on the planet enter into an information-sharing agreement with the IRS.

Banks that don't comply will face severe penalties, including being subject to a steep withholding tax on funds sourced through the US.

In the long-run, Congress will have put the final nail in the coffin of the US banking system as the market will simply establish an alternative destination to source, clear, and transfer funds.

[samsiam]

Not US thankfully.

[wdr]

Labuan International Business and Financial Centre, Malaysia. The premier

international business and financial centre in Asia Pacific.

I use Hong Kong as well Labuan - both are very good

[vtjforyou]

Also interested...

[samsiam]

I thought Labuan was rather pricey to form the companies and such and maintain.

Also need to know the relationship between merchant providers and these places....if accepted or not......for example paypal will not deal with a company formed in Seychelles and a bank in HK......nor usually with a company formed in IOM and banks there also I believe.....so how would Lubuan fare with this ??