Sometimes entrepreneurs choose to set up their company in a country where laws and regulations are more relaxed compared to their own native country. The tax laws and legal formalities associated with the setting up offshore companies will definitely be simpler. These companies are also known as International Business Companies or Non Resident Companies.

The critical aspect here is that these companies can operate only outside the country of its incorporation. Another way to define it would be that it can only transact with another offshore company, i.e. with any other company incorporated outside the country where it exists. People set up offshore companies to serve various purposes. Take a look into the various reasons associated with the setting up of offshore companies.

Certain jurisdictions facilitate easy business reporting, auditing etc and the filing of financial records and balance sheets are kept to the minimum. This makes it highly conducive to business men who don’t want to be bothered by these aspects and utilize the time and the costs they save to build up more clientele.

There is decreased risk of liabilities and assets belonging to the entrepreneur also remain free from risk of seizure. It’s also possible to carry on the business maintaining a certain level of anonymity. The owner’s name can be kept away from most transactions carried on in the private offshore company.

Since business is not conducted in the country of incorporation, it will be possible to keep the profits earned away from tax jurisdictions prevalent in that country. Thus, there will be a significant increase in earnings of the company. There are certain island countries like Belize, Antigua etc which levy very little or no taxes at all on offshore companies. A lot of customs duty exemptions are also available. This is an example for escaping bureaucracy. The concerned governments are mostly fair on such company’s trade and practices and there will be no major interferences.

Anyone keen on setting up offshore company can obtain expert advice often available in the country of incorporation. Foreign exchange conversion charges will also be found reasonable in these countries. Most international banks have very good services and facilities they offer for offshore accounts.

Offshore companies usually specialize in trading. For some entrepreneurs this is a major investment. Others provide consultancy services. A lot of shipping and yacht manufacturing companies are incorporated as offshore entities.

While setting up an offshore company, it is always advisable to set up in a country where political stability prevails since this is detrimental to the uninterrupted functioning of the concern.

Category : International Offshore Company Formation

High risk merchant processors are credit card processors which provide credit card services for high risk merchant accounts. Since these accounts are meant for highly risky commercial enterprises like gambling, pharmacy, adult content and travel-related, there are very few financial institutions which provide services for them and these institutions are referred to as high risk merchant processors.

High risk merchant processors are ideal for businesses which are not likely to receive approval from the standard financial institutions which are located within the country. This may occur due to two main reasons namely either the business is categorized under the heading of the high risk business or that it is located overseas in some other country.

There are a large variety of services which are offered by the high risk merchant processors out of which one of the main services is to offer a number of different processing sources to the merchant like banks located within the country, offshore banks, third-party processors and check processors. These alternatives are available to all merchants irrespective of whether the merchant has a single account or holds multiple accounts.

The high risk merchant processors are also responsible for getting the account of the merchant approved quickly because after the approval has been granted there is no restriction on the merchant in terms of the volume of the transaction or the number of transactions taking place in an account.

Having entailed the services of the high risk merchant processors, the merchant not only enjoys the benefit of a phenomenal increase in sales which is translated into profits but also experiences the advantages of functioning under relaxed regulations especially those concerning volumes and charge-backs. However, all these services would require the deposition of a certain amount of cash reserve or reference to rolling reserves as a form of security due to the nature of the commercial enterprise.

The high risk merchant processors are known for their rapid processing of inquiry as well as information due to which the merchant who is interested in opening a high risk account is contacted within 24 hours of the query being posed by different institutions which offer these services. After that the merchant is at a liberty to choose the specific processor which is most suitable for his individual requirements.

Since most of the high risk merchant processors enjoy an international presence, they offer processing services in multi-currencies as a result of which the merchant can choose to conduct dealings in the currency of his choice.

Category : High Risk Merchant Accounts

Check 21 or the ‘Check Clearing for the 21st Century Act’ is a directive that facilitates the collection, dispensing and payment of electronic checks between the banks in the US. This ruling came into being on 4th October 2004, bringing about considerable modifications in the traditional mode disposal of checks. The paper checks are converted into E checks for easier dispensing and payment. High Risk Check 21 Solutions are extremely worthwhile for those high risk merchant service vendors as it diminishes the dangers of fake dealings.

High risk merchant service owners will be in a position to add on to their customer database and collect their payments on time and correctly. There is also the facility to safeguard the merchant from checks that bounce as it will be extremely easier to spot them, which was not the case with the conventional paper checks.

The check 21 introduces to the present day world a novel model giving the vendors an edge, but the down side of Check 21 is that in spite of the fact that it enhances the speed of transactions there is every chance that fraudulence in checks authorities will not find it very easy to punish the wrong doers because if by chance the paper check is destroyed or lost after imaging there will be no proof to scrutinize the fraud. This is one point that has got both the providers and the merchants quite worried. And both parties are hoping that there will soon be some answer to this issue. So it boils down to the fact  that if a check is not accepted by anyone because they suspect that it could be a scam what on earth is the point of holding the check in your hands!!

Well one of the solutions for those following the check 21 regulations could be to ensure that the checks used have outstanding security features that are not copy survivable, meaning that the features of the paper of the check are as reliable as possible. It should be such that the features will assist fraudulence to be brought to the forefront at the point where the check is received. This could help to relieve the burden of legal responsibility to the bank that does the conversion.

But by and large the High Risk Check 21 is one of the regulations that has revolutionized the banking sector giving the high risk merchant service providers an opportunity to really grow in their business.

Category : High Risk ACH Check21 Processing

Adult merchant processing is the phrase which is used for the procedures involved in the processing of an adult merchant account. Since a commercial enterprise which deals with adult services comes under the category of a high risk merchant account, the formalities involved in opening such an account are carried out by the high risk merchant processors and these are collectively referred to as adult merchant processing.

The first step which marks the commencement of the adult merchant processing is to search for a high risk credit card processing service. Due to the hazardous nature of the business, this might prove to be a difficult job since not every financial institution would be inclined to provide such facilities and the solution may be found in form of a third party processor or an offshore merchant account.

The next step in adult merchant processing requires the merchant to fill out a form with all details pertaining to the business as well as the services which are desired. This form is then circulated among the processing services all over the world and the merchant can expect to hear from the interested parties within 24 hours of having submitted the form. This is followed by negotiations in which both parties discuss about the charges as well as the documentation which would be required.

Some of the information which is asked in the form requires the merchant to supply specific details with regards to business information, business specifics, processing information, and name of the principal contact, the related business websites along with the personal comments of the prospective merchant.

This information is then submitted to the provider who is willing to offer the adult merchant processing services for a high risk account. Subsequently, the background of the merchant is checked like the business, credit card processing history as well as legal and criminal records. Since this might take a long time, the process can be shortened if the information is provided voluntarily by the adult merchant himself.

Any merchant who has decided to go through the adult merchant processing should be prepared to pay additional fees which are decided according to the nature and the extent of the risk involved. This kind of processing also involves a high percentage of charge-backs.

The adult merchant processing for a new commercial enterprise has to be included under high risk processing but as the business grows older and gains financial stability in form of profits, it can be shifted under normal credit card processing if so desired by the merchant.

Category : Adult Merchant Accounts

ACH processing or Automated Clearing House processing as it is rightly called is the means by which the vendor is enabled to bill the client through his bank account for the services that you have rendered. This is a dependable method for vendors to make their collections. This system has come into being since the early 70’s.  More than 95% of the people doing online business have checking accounts and if the type of business that the trader is doing is based on a monthly income from the client he will be in a real dilemma if someone delays a payment. Such matters can be dealt with through the High Risk ACH Processing account system. There is also the facility for verification through an ATM that can easily verify the validity of an E check.

In the case of high risk merchant services, it is absolutely imperative that the vendor has a High Risk ACH Processing system in place. It is nothing but an electronic means of transferring money wherein the dealings are conducted in more or less the same way as in the conventional methods. The U S Federal Reserve supported the ACH in its initial stages by providing computers and electronic assistance to help the banks.

It is not really very difficult to start an ACH account. Even the high risk merchant service providers who help traders to maintain their credit and their accounts have started offering to help with the setting up of High Risk ACH Processing accounts, making it more convenient for traders who can go to a merchant services provider for all their needs.

The advantages of ACH processing

  • An ACH processing System permits the electronic transfer of funds through the internet.
  • The transfer of funds is direct from the funds of the customer’s bank account to that of the trader. This is more commonly known as the EFT or the Electronic Funds Transfer.
  • ACH account processing has the facility to transform all checks to be into electronic checks.
  • Consumer dealings can be processed electronically. The list is endless.

One of the significant implementations of the ACH is the check processor that assists a business to bloom and grow. Combined with software that helps to verify the ATMs the trader or merchant can comfortably sit back and enjoy the payments pouring in. The customers are also greatly satisfied in the bargain making business thrive for everyone.  So in the interest of both the merchant and the customer it would be a great idea to set up a High Risk ACH Processing account.

Category : High Risk ACH Check21 Processing

Many domestic merchants now prefer to process with an Offshore Merchant Account as it offers many advantages.

Since e-commerce businesses are becoming more and more competitive with time, both the business owners and the customers find offshore merchant accounts beneficial, mainly because there is no hassle to open an offshore merchant account and getting a better service is easier. The usual requirements of having a business that has existed for a minimum of two years and making a security deposit of several thousands of dollars are not needed when an offshore merchant account is created. That is why it has now become comparatively easier for merchants to get accepted for an offshore merchant account. The only difference between an offshore merchant account and a simple merchant account is mainly the bank location, which for an offshore merchant account mostly resides in a different country.

  • Cost-Effective and Hassle Free – Offshore merchant accounts tend to have a cost-effective and hassle free setup, merchants get better service and there are practically no deposit requirements.
  • Economical Advantages – Business owners are no longer bound to select a bank in one country only. With offshore merchant accounts they become capable of expanding their business world wide and with low taxes it provides an economical advantage to merchants.
  • Easy Access – Offshore merchant account also provides relatively easier access to the business owners, who are now no longer limited to doing business with just a single company in a single state.
  • Offshore Credit Card Processing – It enables offshore credit card processing and merchants are able to accept payments in multiple currencies.
  • Decreased Taxes – Offshore merchant account tends to place the business owner in a favorable e-commerce world and as the bank does not exist in the same location as that of the merchant so it helps the business decrease taxes.

Some offshore banks and credit card processors do charge a slightly higher processing fees and discount rates however when the merchant realizes the tax savings they are incurring by processing offshore they discover they are far better off than if they had remained processing onshore. High risk businesses like online casinos, adult, pharmacy and travel merchants prefer using an offshore merchant account as most domestic banks (US) decline these business categories, owing largely to the high volume sales, potential chargeback and refunds etc. Offshore banks tend to be more liberal with their under-writing policies, tax savings and there are no sales volume restrictions.

Category : Offshore Merchant Accounts

Ewallet is a digital wallet which facilitates the user to conduct safe and secure commercial transactions through the electronic media with rapidity. The Ewallet must be undergoing hundreds of transactions every day and the total of all the electronic as well as physical transfers and payments occurring through the Ewallet is collectively referred to as Ewallet solutions.

Ewallet solutions are a type of method of payment in which either the customer pays directly or makes known his method of payment in terms of a virtual wallet. As a result, whenever a payment is made from the Ewallet account, the amount stands to be debited from the Ewallet credit balance and likewise the Ewallet solutions allow the account user to receive payments from other parties as well.

Due to the growing popularity of online commercial practices like forex trading as well as gambling, Ewallet solutions are in great demand and are therefore being offered by a number of financial institutions. In order to launch an Ewallet site, one needs to install a particular software package and subsequently fill out a form and secure the information by putting a password.

Ewallet solutions are particularly advantageous for poker and gaming sites because not only do they facilitate instant deposits and withdrawals but also charge transaction fees which are lesser compared to those charged for credit card transactions. In addition, these services are more secure since they safeguard personal information and also prevent the records of the gaming transactions from appearing on one’s bank statements.

Since Ewallet solutions are particularly designed to cater to online forex trading and gambling, the institutions which specialize in this facility have dealings with many gambling and trading platforms. A direct consequence of this relation is that any client who registers with such an institution is granted a number of bonus cash and bets ranging between ten dollars and hundreds of dollars.

As far as a gambling enthusiast is concerned, a set-up consisting of a bigger poker room equipped with facilities to access Ewallet solutions is an ideal scenario for safe and immediate deposits and other transactions. In such a situation, a gambler can deposit cash into the Ewallet account beforehand and then simply diversify the money into the poker site of his choice by clicking on the requisite buttons.

However, as a precautionary measure the consumer using the Ewallet solutions should stay informed as well as alert because like all other modern methods of transactions the Ewallet solutions are also prone to online scams and fraudulent schemes.

Category : Ewallet Merchant Accounts
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