Fewer Trading Restrictions
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Offshore merchant accounts are trading accounts that acquiring banks issue to merchants of high risk businesses. These banks are located in low-tax jurisdictions for merchants that wish to accept major credit cards such as Visa and Mastercard. Merchants pursue offshore banks for a myriad of reasons — they sell in high volume, they trade in multiple currencies and/or they prefer to register their business in another country.
Benefits of offshore merchant accounts
As stated above, offshore merchant accounts typically have generous or even no volume caps — ideal solutions for merchants in the industries of CBD, nutraceuticals and multi-level marketing. Other benefits include:
- Fewer tax restrictions
- Trading in multiple currencies
- Business co-owner does not have a social security number
Where are offshore merchant banks located?
The following countries are considered offshore. They all have offshore financial centers (OFC), and most have acquiring banks that provide offshore merchant accounts.
Isle of Man
Instabill has established acquiring relationships with banks in most of those countries, and our network is constantly growing.
Offshore merchant accounts: Open yours today
If you think your business might benefit from an offshore merchant account or if you have questions about whether an offshore merchant account is right for you – contact an Instabill account manager online or call 1-800-318-2713. We are here to answer your questions and give you sound advice about finding an offshore merchant account that’s right for your business.