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Offshore Merchant Accounts

How can I reduce my tax liability? Are offshore accounts legal? Can I move assets "offshore" without throwing up a "red flag"? Can I get my money back into the US? What are advantages of using an "offshore" card processing service vs. a local or domestic one?

Background: The US credit card business is very competitive. Interchange rates are now published for anyone to see with merchants averaging 3%, and many paying much less.

HIgh risk merchant account drawbacks: application requirements, deposit requirements, minimum 2 years in business. Some will "hold back" your monthly card payments as an additional "security deposit" for possible "charge backs". And then there is the dreaded "we are closing your account" letter.

Worse, look at this example:

consumer buys - payment goes to contracted merchant provider- provider keeps money and does not pass through to VISA- merchant nevers sees any of money, VISA doesn't get their money and now VISA is blocking merchant from getting a new account due to excessive complaints. The provider went out of business, but kept taking the payments until they got caught!!!

Stop shopping rates and start looking at the company where your money is. How will they handle problems? Can you get a live person on the phone or only via email?

OFFSHORE SOLUTIONS

Technology advances enable us to do business anywhere.The problem with some offshore banks or credit card processors are the higher processing fees, when compared to current US rates. Plus "Internet Banking" and offshore merchant accounts are new services that many offshore banks are just starting to take a look at.

Based on our industry leadership in the US for low-risk, high volume businesses, we've developed an equally reliable near-shore solution. They are based in the Caribbean, and their fees are extremely competitive (with both US bank rates, and especially their "offshore" competition).

What is the real benefit for me to do business with an offshore merchant account provider?

For additional information about obtaining an inexpensive, reliable, and safe, offshore merchant account, or forming an offshore company for tax-advantaged strategies for your current business, please contact us.