Hello Friends, here i seek your help,

I want to open merchant account for pharmacy of Non - controlled drugs.

Should i incorporate in US and get a bank account of US, through Valis International, at least they claim for the same, then i should apply for good Merchant Account.

Or

Incorporate some Nevis, Belize........ and a bank account there too and then i should apply for merchant account.

or

Take up a complete offshore package from offshoresimple where they are assuring incorporation, bank accn and merchant account for pharma too. (by the way are they ligitimate)

Kindly torch some light on this.

Thanks for the help

Roy

Getting approved for a US merchant account for an online phamarcy is pretty difficult. If your sole reason for Incorporating in the US is to obtain a US merchant account, you run the risk of paying for the Corp and then being unable to get approved for the merchant account.

If you decide to set-up offshore, and you want a direct merchant account, its usually best to find a processor that will accept your application first and then gear your Incorporations around that. You will need to incorporate in the same jurisdiction/country as the acquiring bank, if you settle in a bank account in the same country, then you only need one incorporation.

Business America is right. If thats your only reason, then you wont have enough credentials to get a US Merchant account. Online Pharmacies are on the Restricted list for some, and on the Prohibited for MOST merchant service providers. The ones where its restricted, you would have to be a US Citizen as they would want great credit reports, and great financial background. The risk is too high when you arent in the US. Because if something goes wrong. They have to be able to track you down.

Very good question!

Your best option is to incorporate in the EU (cyprus is best) and have them appoint an EU director for you - (in Cyprus the most common director is a man named Marinos)

Once that is done you can obtain a merchant account quite easily ... the hardest part will be to find a bank/processor that takes startup companies with no past transaction history. Never fear though, there are options out there that'll take them

hope this helps :)