Over time, offshore companies based in Curacao have faced challenges in accepting online payments due to increased regulatory scrutiny and being classified as “high risk.” These factors restrict their ability to accept payments in certain jurisdictions. Payment service providers often block card payments from jurisdictions that require a local license. Since accepting payments on a website is essential before customers can use the services, a payment processing agent becomes necessary. A processing agent is a company that is part of the payment processing structure for websites offering online gaming services. They receive a fee to ensure compliance with tax regulations.
Choosing the right jurisdiction for processing payments with the incorporation of a processing agent is crucial. Ideally, the jurisdiction should have a low tax rate and provide access to various credit card payment providers. Due to the increased difficulties for Curacao entities in obtaining bank and merchant accounts in Europe, establishing a structure that involves the Curacao company (which holds the license to operate online gaming) and a payment processing agent (preferably an EU-Cyprus company) creates a solid foundation for the company’s operations.
Our experienced team can assist you in identifying and setting up the most suitable corporate structure tailored to your specific needs. With extensive expertise in these activities, we can provide the necessary corporate vehicles and licenses to effectively implement such a structure. Furthermore, our wide network of banks and payment processors enables us to guide you through the process of opening bank and merchant accounts.