Offshore Merchant Account
Tired of banks telling you that your business doesn't qualify for a domestic merchant account? Looking for alternative tax options? Want more customers? Take your credit card processing offshore with an Instabill offshore merchant account.
Benefits of an offshore merchant account include:
- Accept payments in more than 160 currencies
- Low taxes or no taxes
- Fewer trading restrictions
- Expand your customer base
- No volume caps
What Is An Offshore Merchant Account?
An offshore merchant account is a special kind of bank account that businesses establish with foreign acquiring banks. Opening an offshore merchant account can make accepting online payments easier for high risk merchants. Offshore banks have liberal underwriting policies, which makes getting approved much easier. Offshore countries where you may find an acquiring bank include:
| Mauritius | Dominican Republic | British Virgin Islands |
| Bermuda | Isle of Man | Hong Kong |
| Belize | Luxemburg | Panama |
| Bahamas | Liechtenstein | Guernsey |
| Curacao | Cyprus | Jersey |
| Aruba | Malta | Cayman Islands |
| Seychelles | Singapore |
What businesses do banks consider high risk?
Banks may consider your business high risk for a variety of reasons--such as having a high chargeback rate, little or no credit card processing history, or you offer a subscription service. Working in a certain industry will also raise your risk profile. High risk industries include:
| Adult Entertainment | Forex | Payday Loans |
| Casinos | Gambling | Penny Auctions |
| Computer Services | Gaming | Pharmacy |
| Credit Repair | Internet Hosting | Software Downloads |
| Dating Websites | Lottery | Tech Support |
| Electronics | Male Enhancement | Tobacco |
| Escort Services | Multilevel Marketing | Travel |
| Financial Services | Nutraceuticals | Weight Loss |
| E-Cigarettes | Mail Order/Telephone Order (MOTO) |
Telemarketing |
Offshore Incorporation
If you need an offshore incorporation for your business, your dedicated merchant account specialist will be there to help you every step of the way. We'll advise you to register your company in the locality of your acquiring bank.
An offshore incorporation can cost anywhere from $2,000 to $5,000. With Instabill, you can incorporate for about $2,000, and we'll also have you set up in only two weeks.
The best part about Instabill helping you with your offshore incorporation is that we won't interrupt your credit card processing or payout schedule. Once you start accepting payments with your own offshore merchant account, you can enjoy the benefits of offshore processing, like getting paid out daily (three days in arrears).