Cheapest offshore company

Discussion in 'Anything Goes' started by Tupee, Sep 6, 2017.

  1.  
    Biti

    Biti Active Member

    Joined:
    Jul 24, 2015
    Messages:
    292
    Likes Received:
    156
    Sep 19, 2017
    I try to use what is useful for me. Paid enough to the EU. In the past. :)

    You get the first € 100k back on a personal account. It could be a theory in a big crash, but for example with Icesave branches within the EU people got their money back.

    At Malta, I had a look. You mean the tax credit system? I'm having a Maltese LTD, but I don't use it that much, actually just for practical things. Must say things go very smooth there and that might be a big difference with for example Senegal. Cyprus I didn't know. It sounds interesting definitely, also because it's way more appealing to me than UK.
     
  2.  
    jopaa

    jopaa Affiliate Guard Dog Member

    Joined:
    Jun 3, 2011
    Messages:
    375
    Likes Received:
    58
    Sep 19, 2017
    I read a lot of discussions related to this gambling license but did not find anything like this. Can you please give me the source (link) where you found this info?

    Thanks
     
  3.  
    Biti

    Biti Active Member

    Joined:
    Jul 24, 2015
    Messages:
    292
    Likes Received:
    156
    Sep 19, 2017
    Romania has nothing to say about where you send UK customers to.

    I got a letter from ONJN stating that I don't need a Romanian license for websites that are inaccessible for Romanian residents, hence Romanian IP-block. Logical, because if your website cannot be accessed from Romania, you are not breaking any Romanian law. I must say conversations with them were endless. I got a proper response when I asked a lawyer to ask them.

    Practically, they aren't 'even' fining .co.uk or .com websites in English that are obviously targeting UK customers. But, those websites are not complying Romanian law of course, because Romanians can find there gambling ads and be redirected to (illegal) casino websites. So, in fact, every affiliate where ever on the world should comply with this Romanian law.

    They are giving fines to websites in Romanian, no matter the domain. If you're having a .com-website, in Romanian and accessible for Romanian residents, you probably will get a fine. I've heard some people received a fine.

    However many brands do control very strict with who they're working, I must say I see appearing quite some websites in Romanian that appear to not have a license. I've heard also that for some people it's worth the fine if they get fined just once in a few years. But it seems that most big websites are having a license.

    I hope this is enough information.
     
  4.  
    Biti

    Biti Active Member

    Joined:
    Jul 24, 2015
    Messages:
    292
    Likes Received:
    156
    Sep 19, 2017
    And in your case, if you want to be sure, I think the best thing to do is explain your case to ONJN and ask them for a response in a letter. Then you always have some evidence. Just in case...
     
  5.  
    jopaa

    jopaa Affiliate Guard Dog Member

    Joined:
    Jun 3, 2011
    Messages:
    375
    Likes Received:
    58
    Sep 19, 2017
    I know that if you have a co.uk or .com website not targeting Romanians the ONJN can do nothing but if you register a company in Romania they will ask you to pay the license no matter if you are targeting players in Romania or not. Am I wrong?
     
  6.  
    Biti

    Biti Active Member

    Joined:
    Jul 24, 2015
    Messages:
    292
    Likes Received:
    156
    Sep 19, 2017
    They do not ask people to pay a license. Then they should contact every marketing, media, internet company. They handle the license solicitations and give fines to websites that break the Romanian law. But I would always make sure that you comply Romanian law and let them confirm so.

    But there's, of course, a disadvantage compared with a Maltese affiliate...

    In case of a regular tax control, the tax department, of course, will have a look at where your income is coming from. If they notice that you're breaking the law, you might have a problem. So it's useful if you can show them, in case of a control, that you're not breaking any law. No doubt there will be a problem if websites appear to be accessible for Romanian residents, you have a bunch of Romanian players in your accounts, etc.

    If you want to play safe:
    - IP blocks for Romanian IP's on your websites.
    - Make sure that no Romanian appear in your affiliate accounts*.
    - Let the ONJN confirm that you're not required to have a license.

    * This one is tricky, they might get there because of something that is out of your control, for example, your link with an exclusive bonus offer at some group. You could make an IO or contract with the affiliate program that you're not targeting Romanian players and that they're excluded or something. Some programs can even untag them. You need to have a contract anyway.

    If you're in Malta, you don't have these problems. Just in case of a Romanian player, the program is by law not allowed to pay commission for that player, but no idea how strict everybody is complying that.
     
  7.  
    jopaa

    jopaa Affiliate Guard Dog Member

    Joined:
    Jun 3, 2011
    Messages:
    375
    Likes Received:
    58
    Sep 19, 2017
    Thanks a lot for the info. Anyway, I'm not planning to open any company in Romania anytime soon. I was a little bit interested at one point but then let go the idea because of the unclear laws.
     
  8.  
    PROFRBcom

    PROFRBcom Rakeback affiliate and professional poker player.

    Joined:
    Apr 8, 2016
    Messages:
    111
    Likes Received:
    20
    Sep 19, 2017
    Cyprus? The same Cyprus that was the experiment for theft from account holders to pay off bank insolvencies? That place scares me!
     
  9.  
    Biti

    Biti Active Member

    Joined:
    Jul 24, 2015
    Messages:
    292
    Likes Received:
    156
    Sep 19, 2017
    You're welcome.

    Well, if you're not living in Romania and other options are equal, I would go for another option too. The best option depends on everybody's own situation and wishes. If you don't matter living in Malta or Romania, I would choose Malta, because laws are a bit better there.
     
  10.  
    BetReels

    BetReels Affiliate Program Representative

    Joined:
    Jun 7, 2016
    Messages:
    37
    Likes Received:
    23
  11.  
    eenzoo

    eenzoo New Member

    Joined:
    Oct 29, 2015
    Messages:
    21
    Likes Received:
    6
    Sep 20, 2017
    Yes this Cyprus ... they paid all back, plus interest plus a Cyprian Passport for all who paid more then 500k .

    But this is a point i mentioned above. Cyprus is a very interesting place to live. Almost zero tax, EU (if you like), nice weather, one of the best social insurance systems and xxx more advantages BUT don´t hold your banking account in the country where you or your company are located.
    e.g. (if you are not a german) you could hold your private account with AAA Deutsche Bank or so and your maybe (Cyprus) Company account at DBS in Singapore or vice versa. This is all about spreading your risks.
     

Share This Page