An Offshore Merchant Account is a type of Merchant Account available for merchants with online business in a non-resident country. Payment processing option is available to the e-merchant through their business websites along with other transaction processes. A typical misconception is an offshore merchant account is always high-risk which is not the case. Be that as it may, merchants who look for offshore processing generally do it due to the fact that offshore acquirers are much more permissive with regards to issuing offshore merchant accounts and the sort of products and services that can be sold, because of moderate laws and requirements on the merchant. This is one of the best advantage of obtaining an offshore merchant account. Also, you may likewise be liable to stricter banking secrecy with an offshore bank than otherwise.
Poor credit background, or business that has high potential for client chargebacks or frauds are the typical factors which prevent merchants from getting a traditional merchant account. ‘High-risk’ is what the merchant services industry refers to these types of merchants. These high risk online businesses face difficulties in obtaining merchant accounts particularly through traditional banks and merchant account providers. Merchants are expected to present various documents and a history of past credit transactions to local banks since these banks tend to be conservative in nature. To open a simple merchant account, this procedure proves to be tedious and at times vain. Therefore, an offshore merchant account is the most feasible option for such e-merchants. If you are meaning to expand your business sales consistently then you ought to obtain an offshore merchant account. The reason being local account providers may not permit a high volume of sales. Discretion in dealings is a given in an offshore merchant account and it also allows transfer of funds to anyplace. Since these accounts will be based in foreign countries where are no tax liabilities, offshore merchant accounts also provide tax.
Online businesses like online pharmacies, gaming and casino websites, sports books, electronic money, imitation products, bio-technology, etc. are most likely to benefit from opening a offshore merchant account.
We have direct contacts and can introduce clients to offshore banks for bank account opening worldwide. These banks offer personal and corporate accounts including a wide range of services such as online banking, international debit card and 24 hour customer service in numerous languages. We offer you the freedom to Open Bank Accounts in a selection of jurisdictions without the necessity of you physically being there. Allow us to guide you through every step of the way. It takes between 2 to 3 weeks for an account to be opened. The banks will ask for more information and supporting documentation and their compliance teams will analyse the information provided for about a week before confirming an opened account. All of the banks we provide account opening assistance with offer full online banking services so that you can manage and access your account online.
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A major Benefit of Obtaining an Offshore Merchant Account is that how simple it is for an offshore bank acquirer to approve a merchant account application unlike a local merchant account provider. Offshore banks have less restrictions for e-merchants working in high-risk segments of the industries, for example, IT technical support, computer services, to acquire an account.
Applying for a merchant account offshore definitely opens up a wide array of banks you can choose that fits your business requirements. The choices are endless.
Unlike looking for avenues to submit applications for a merchant account at home, applying for an offshore merchant account is hassle-free. The application forms are easily available on the providers’ websites so it saves plenty of your time. You can expect to get results in no time and it takes no time to set up an actual account either. Banking policies and guidelines also tend to to less strict in offshore banks, hence why high risk businesses majorly prefer an offshore account.
If you are a business that caters to international customers then you need obviously need an offshore merchant account. By having an offshore merchant account you will be able to accept payments in different currencies real time.
Now you don’t have to worry about leaking sensitive financial data of your customers. With the advent of online payment gateways, accepting payments online on offshore merchant accounts is safe and secure.
You get real time updates on the transactions made into your account. Get quick and accurate information on your offshore merchant account.
With obtaining an offshore merchant account, you have the option of expanding your customer base world-wide. You have the opportunity to market your business globally.
Taxes spare no item. They apply to all and everything. Merchant accounts are no different. However, getting an offshore merchant account will considerably lower your tax responsibilities. Fees are reduced considerably. You will get various tax benefits from a country’s jurisdiction’s tax requirement with a merchant account in a foreign country.
You will be able to process payments in various currencies with offshore credit card processing.
For the most part, offshore banks do not put a top on the number transaction processes every month, enabling your business to expand profits and achieve maximum potential.
Why choose us? No matter the size or type of business you own, from small scale startups to large corporate organizations, International Bank Services (IBS) headquartered in London,UK , will cater to your unique business with offshore merchant accounts that are customized for your business along with exceptional customer services. Key benefits of obtaining an offshore merchant account, one of our core services, with International Bank Services (IBS) include –
Generation of new revenues and entering new foreign markets is possible for business owners with the help of offshore merchant accounts. Make sales in new international markets and expand your online business by obtaining an offshore merchant account with International Bank Services (IBS), London, UK, Europe