Do I need an offshore merchant account?

By July 13, 2019 No Comments

Most people believe that high risk merchant accounts are only for online casinos or pharmacies and so on. However with today’s lending guidelines and financial account requirements, a lot of trusted brands and online businesses are “high risk” and require a specialized credit card processor.

1-800 type chat sites
Airplane charters
Amazon, Yahoo or Google Stores
Annual contracts
Automotive brokers
Bankruptcy attorneys
“Business opportunities”
Calling cards
Check cashing services
Cigarette or electronic-cigarette sales or nicotine products
Coins, collectible currency or autographed collectibles
Collection agencies
Coupons or rewards-points program
Credit or debt repair
Credit counseling
Credit protection
Debt collection
Direct selling
Discount health and medical care programs
Debt consolidation
eBay Store
E-Books (copywritten material)
Event ticket brokers (unlicensed and non registered (i.e. Stub Hub type merchants))
Exporting services (non US based)
Finance broker, financial consulting or loan modification services
Indirect financial consulting (i.e. How to Save Money by Lowering Your Electric Bill.)
Financial planning, strategy or advising
“Get rich quick” books, programs, etc
High average tickets
“How-To” type websites (i.e. “Learn How-To Make Money on The Internet”)
Horoscopes, astrology or psychic services (i.e. fortune tellers)
“Hype” products or services
Hypnotists or self-hypnosis
International merchants (non US based)
International shipping, cargo or import/export
Investment firms
Investment strategy
Investment books
Lawyer referral services
Life coaching
Lingerie sales
Magazine sales and subscriptions
Mail order
Membership organizations (over 12 months)
Modeling agencies
Multi-level marketing (MLM)
Music, movie, software downloads or uploads (ie. copy-written music, movies or software (i.e. Microsoft office))
Non US citizens
Off-shore corp. establishment services
Pawn shops
Poor credit
Prepaid debit cards
In-bound or outbound telemarketing services
Real estate
SEO services
Social networking sites ? Facebook, Twitter, MySpace etc?
Talent agencies
Telephone companies
Telephone order
Time-shares or time-shares advertising
Tour operators
Travel services
Travel agencies
Travel clubs
Vacation planners
Vacation rentals (unless property is owned by merchant)
Vitamin and supplement sales ? diet pills, prescription pills, health supplements, pharmacy
VoIP services
Extended warranty companies

Naturally, if you have an offshore bank account and merchant account, you need to maintain tax compliance. People in the US, UK, Canada, Australia, and many other countries tax worldwide income. So, be sure to maintain sound tax advice from a licensed professional.

Should I in needs of a online merchant service , Global Merchant Payments here to help you .

Leave a Reply