If you are looking for ways to set up a new business via internet or moving some of your assets offshore and need a way to accept credit card payments online, then an Offshore Merchant Account is the answer for you.

No business is complete without a merchant account, as it allows acceptance of credit cards. Most businesses now have merchant accounts; however, many merchants have started to prefer an offshore merchant account as it offers offshore credit card processing facilities along with many other advantages.

How an Offshore Merchant Account differs from a Normal Merchant Account

Getting accepted for an offshore merchant account is comparatively easier than getting accepted for a domestic merchant account. The usual requirements of having a business that has existed for at least two years and making a security deposit of several thousands dollars are not required when an offshore merchant account is created.

The only difference between the working of an offshore merchant account and the domestic merchant account is mainly the bank location that serves them both. The bank that serves the normal merchant account generally resides in the same country, while the bank that offers an offshore merchant account resides in a different country.

Advantages of an Offshore Merchant Account

Since eCommerce businesses are becoming more and more competitive, the major advantage is that there is no hassle involved in opening an offshore merchant account; you get better service and there are almost no deposit requirements. Other major advantages of an offshore merchant account are:

• Easy Access - With modern technology the world has become a much smaller place. The business owners are no longer limited to doing business with just one company or in a single country.
• Economical Advantages - No longer bound to select a bank in one country, the business becomes capable of finding the best deal anywhere in the world.
• Offshore Credit Card Processing - It enables the business to accept payments in multiple currencies.
• Reduction in Taxes - the offshore merchant account by Instabill offers significantly reduced rates of taxation.

Although some offshore banks and credit card processors charge a slightly higher processing fee, but with the increase in competition daily this trend is now changing. Business owners everywhere now prefer offshore merchant accounts over domestic merchant accounts for the many advantages available.

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