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  1. #1

    Need help with opening offshore merchant account

    I知 a US citizen and I have a software website.
    I currently have US direct merchant account and I process 15K per month.
    I知 looking for an offshore direct merchant account.
    Opening my US direct merchant account was easy and I only needed my SSN and bank details (I知 sole proprietor)
    but when I start looking for the offshore direct merchant account I found that I must form an offshore company and
    send tons of paperwork.
    Is there an offshore bank that would open an direct merchant account for me as a sole proprietor using my SSN ?

  2. #2
    Join Date
    Mar 2010
    Florida, USA
    Possibly. Depends on your credit, processing history, and other factors.

  3. #3
    Join Date
    Aug 2002
    no, they will not, you need company in place of registration of offshore bank
    Offshore incorporation and bank accounts
    @offshoreoffer - offshore services, tax optimization info

  4. #4
    Join Date
    Jul 2003
    Castle Pines, CO
    There are a lot of factors to take into consideration for an offshore provider of course. Some banks might be able to consider you for a provider while others cannot underwrite your company.

    Usually though, they will look into other options though and also consider why you might want an offshore account (i.e. tax reasons). This is why there is a lot of paperwork. With countries working together these days, which was unheard of just a few years ago, the underwriters are more diligent.

  5. #5
    Join Date
    Dec 2006
    I think there is nothing new in the fact that US merchants can either process in the US or in Europe if theu incorporate a company but Euroean's can't get a US merchant account at all unless they find someone with an SSN or EIN number that will do the underwriting.

    It has been so all days.

    Now, with the Tax Information Exchange agreements in place with most countries worldwide it makes not the paperwork less complicated of course.

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