Hi All:

I am planning to open an offshore company (with nominee service) for running an legitimate and legal adult website for US based customers. I am planning to use CCBill for customer payments.

I am really new to this business, it will be great if you can answer some of my questions.

1. I am not sure which country is the best for incorporation in terms of your privacy, tax savings, legal protection etc.
I am looking at Seychelles vs. Dominica now.

2. Once we have offshore company setup, do they give us some address and phone number that I can put on the website?

3. How does CCBill work with this offshore company? I guess you can't really be anonymous with the CCBill. You need to provide all the details. Does CCBill need offshore bank account? Or can they still send a personal check?

4. How does US tax system work if you have an offshore company? Is it better to have offshore bank account? I wonder what are the restrictions on offshore bank account when you running adult business.

5. Now that you have an offshore company, does it matter where the web-servers are located? Is it better to have offshore servers for adult business in terms of laws and protection? Btw, I am going to have a legitimate and legal business.

Any information on this really appreacitated.

Thank you so much.

1) Dominica and Seychelles are both very similar, Seychelles companies have problems dealing with US banks since some do not send transfers to Seychelles companies.

2) Each company have registered address which you can put for domain registration, but there is no phone number. Also only official mail will be sent to you from registered address. For mail forwarding and phone numer you would have to set up virtual office.

3) i do not have experience with ccbill

4) there are reponrting to IRS that ahve to be done, but i recommend you to consult about this with your accountant

5) host in location where hosting of such web sites is ok, another thing, if you want more privacy, it will be higher in offshore locations

I've been in both the offshore and adult payments business for several years now, and I can say that your best bet for both offshore benefits and using CCBill would be to set up in Cyprus.

A Cyprus company with non-resident shareholders set up having its management and control outside Cyprus (non-resident IBC) is not subject to tax in Cyprus except for income derived from Cyprus. You can get both address and phone forwarding if needed. Being an EU member state, you'd be able to get an account with CCBill-EU. You'll need a nominee director to make it possible (full docs list here (http://businesscenter.ccbilleu.com/proofeu.html)).

It's best to have your servers in a jurisdiction that is friendly to adult business. US, Canada, and Western Europe are good choices depending on your actual content.

it is true that many adult businesses set up their comapnies on Cyprus.

Jalami,

Thanks for your response. I am wondering about the bank account. If you have CCBill setup do you still need a bank account in Cyprus? Does CCBill send you a personal check or a check under the name of the company?

What is your suggestion on Nominee Director vs. Nominee Shareholder? I just need protection from spam and solicitation. I am going run a adult classifieds site.

Daxter

Registry on Cyprus is public, anyone can find these details who is director and shareholder form registry. So if you would like privacy you would need to have nominee director and nominee shareholder.