Just trying new stealth PP

[GrannyT]

I posted a few says ago about using limited companies and got no replies so, I have gone ahead and tried it anyway. (I was already in the process of doing so when I posted)

I now have a brand new Limited Company with an address in London (I'm in Leicester), a brand new business account with Barclays and I have registered with PP. I'm now awaiting the two deposits. So far all seems good. I'm not going to register FEEbay until the PP account is verified.

Costs were £70 for the company and registered office with a £30 rebate due for opening Bank A/c. I had to take passport and proof of address to a local branch of the bank. I am now going to register a domain name for the company and load it with low risk items using PP and Nochex as payment.

All in all I reckon I will have laid out about £80 once I am up and running, which seems a small price to pay to be back in business.

Can anyone see any pit falls or slip ups I might have made?

This is my first stealth account and I am trying desperately not to slip up.

[stealthmaster]

Hello. You could always buy the "eBay Stealth" guide it tells you what to do and how to do it.

Stealth Master

[GrannyT]

Bought it thanks (still trying to get it open though - I'm a bit of a veggie when it comes to pooters and software - it's an age thing!)

[jimsters]

Hi, been thinking of doing this too to open a 2nd as I already hav a ltd company. However my accountant charges £200 to set one up then you hav accountant fees fir the year ontop for each ltd company. Don't know how much yours charges but I'd guess £720+ if not vat registered.

The other issue is still the docs. It's all well and good having another address and bank account, but to fully verify and lift the new paypal 1900 receiving limit, or at least sometime in the future, you are still going to nead to supply passport, driving licence or similar and name fir the director of the ltd company. I'm assuming this is you so you are still in the same boat with the docs unless I've missed something?

[GrannyT]

You are right - but under the new companies act directors can hide their home address. I bought a company with registered office for a year. Forget the accountants fees hon and search the internet for Co. Formations. This is stealth - be creative - you need a bank account and, provided everything else is covered you are home and dry

Think outside the box

[GrannyT]

Houston - we have lift off