Offshore merchant accounts are commonly used these days. By setting up online businesses, merchants have to interact with customers across the world. Regardless of the size or type of online business, merchant accounts and credit card processing services is a must for each one of them.
Various financial institutions offer different types of merchant accounts. Among them, offshore merchant account is most commonly used by E-commerce merchants. One of the benefits of offshore merchant account is that it does not require huge initial set up cost which makes them popular with small businesses in particular.
Different merchant account providers offer different setup charges. But most of them charge zero for initial set up which is a huge benefit for small businesses.
Offshore accounts obviously operate outside your own country and since you would be out of the tax regulation laws of your country, you will be exempted from paying taxes. For small businesses and even online business start-ups, the reduced burden of additional costs is a huge relief.
All types of businesses, whether large-scale or small-scale, can be victims of frauds and scams. Start-ups and small businesses especially cannot afford to be tangled in frauds and losses. Unfortunately, these merchants are more vulnerable and can be conned easily. This makes offshore merchant accounts hugely beneficial as merchant account providers take necessary steps for the safety and protection of their clients from online frauds.
Businesses with offshore accounts have to deal with transactions done with different currencies and all kinds of credit cards all round the world. This translates into higher chances of expanding your customer base. Along with clever business operations, these small businesses have the potential of boosting sales and profits. For small businesses that do not have to invest much into these accounts, this is a massive growth opportunity and benefit.
Advent of technology bought about a meteoric rise in e-commerce and online business models. Now, daily online credit card transactions have become a norm.
E-commerce merchants are more likely to be exposed to stricter rules and regulations. However, there exists an option for business that operates business across the world to legally position itself in a jurisdiction that favors it the most. Simply put, an offshore merchant account is an account that allows a business to accept credit card payments through a bank that is located in a jurisdiction outside the country where the business operator lives and works.
Offshore banking is even popular with some of the biggest global companies such as Apple and Google who set up offshore subsidiaries in low or no tax jurisdictions and serve different segments of their global market.
Merchants are now taking advantage of the various benefits that an offshore bank account has to offer. The possibility of expanding business and reaching a world-wide customer base possibly being the biggest positive factor. So what exactly makes offshore merchant accounts so favorable instead of a domestic merchant account?
Let’s take a look at some of the advantages –
- Wide selection of banks
- Hassle-free process and Quick Approval
- Multi-currency transactions
- Low or No Tax burden
- Tax-free offshore profits
- Major credit cards are accepted
- High volume transactions are allowed
- Easy approval of high risk businesses
- Real time updates available
- Safe and secure payment gateways that can be easily integrated with your e-commerce business
Any astute merchant will surely want go offshore and reap the many benefits that an offshore merchant account has to offer!
Banking offshore is easy but finding right one is crucial, the most integral part of banking offshore that it secures your assets and manage your money. Investing offshore provide substantial privacy benefits to account holders. An offshore account held in the most reputed offshore financial centers will, also, often have a lesser tax liability than in the UK and Europe. It’s an affordable and secure solutions providing anonymous offshore banking and offshore asset protection for everyone. Offshore bank account can be opened only by the name of offshore companies in order to provide the maximum possible anonymity, privacy and offshore asset protection.
Provide high confidentiality for account holders which helps to confirm that the identity and transaction of individuals are carefully protected. Offshore banking is just like onshore banking as they provided all services as normal bank provides you don’t have to make any sacrifices in terms of services they provide real time processing for fund transfer around the world. You can manage your financial stuffs easily overseas.
Although any individual can open an offshore bank account, the only thing should be addressed the need and attack the proper balance between, effective asset protection, reduced taxation, complete anonymity, security of transactions and availability. The Internationalbankservices.com is leading company providing solutions for offshore merchant account. Because it is crucial to establish the best according to your requirement.