Offshore debit cards provide a solution to the need for access to funds held offshore in private financial institutions, accounts and the like, as well as a useful tool for collecting your funds in a secure private form. Wherever you are in the world, the Offshore Visa Debit Card can be used to make purchases of goods and services in any currency; accepted at more than 14 million locations worldwide.

Annual fee for the Visa Debit Card is US$75. There are no transaction fees charged for ATM cash withdrawals. You must have a minimum balance of US$3,000 in order to qualify for a corporate debit card, however, once the card is issued, you do not need to maintain US$3,000 in the account during the use of the debit card.

You will need to maintain the special distributor's card account in Panama in order to load offshore prepaid VISA cards of your customers. The loading is semi-automatical. The website for card account management can be translated in different languages.

You will be able to design your own offshore prepaid VISA card with your company logo or design if your order is in the amount of more than 10,000 cards.

Distributors can distribute the offshore prepaid VISA card by themselves while establishing the special contract for their end customers. The final fees are established upon the distributor's agreement and every customer must know the final fees. You will be able to get the offshore prepaid VISA card for the lowest fees below the US $15 and to sell them for any customized fees.

One of the requirements with VISA and the issuing bank in relation to foreign distributor of offshore prepaid VISA card is that the distributor must set up a mirror local company in Panama. In other words you need to register a company in Panama. The distribution contract must be between the Panama based registered company and the issuer of cards.

The reason for this requirement is that VISA has territoriality agreements with bank members. This is to protect issuing bank from one country to offer cards in another country. To sign a distribution agreement with a foreign registered company would be in violation of the VISA territoriality agreement. Therefore, the distribution agreement with any foreign distributor shall be done through a Panama based shell company.

That means you are doing contract between 2 Panamanian companies, but you can certainly sell the card by your Panama company anywhere in the world.

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