TUTORIAL: How to set up a Paysite when you live in Canada

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  • sonofsam
    Too lazy to set a custom title
    • Dec 2004
    • 18648
    #51
    50 on behalf of woj
    I like turtles.

      Comment

      • Webby
        Too lazy to set a custom title
        • Oct 2002
        • 14956
        #52
        Originally posted by opulence
        How goes Gibraltar work when you still need your principle director to be located in EU as well?
        OK.. Will try to answer quick! :-)

        Basically you have nominee directors in Gib who basically act on your instructions - else they get kicked out.

        Gib has a decent rep for corps and normally the nominees are lawyers with a reputation to maintain.
        XXX TLD's - Another mosquito to swat.

          Comment

          • sonofsam
            Too lazy to set a custom title
            • Dec 2004
            • 18648
            #53
            Webby: sometime if you have some free time i'd love to chat with ya about setting up in EU if you wouldn't mind dropping some knowledge
            I like turtles.

              Comment

              • Webby
                Too lazy to set a custom title
                • Oct 2002
                • 14956
                #54
                Originally posted by Mutt
                and what are these tax consequences that a US corp has that an EU corp would not have? don't be vague please.
                Can't say for US corps, but got a massive bad feeling the IRS may not stand for scenarios like.... (tho all this shit is dependent on your personal circumstances!)

                Example... you have a Gib corp. You are non resident in Gib and have a non-resident corp there. You are also non resident in your home country. You want to kill profit elements in the Gib corp, so you send it (paper shuffling from one side of the desk to the other) an invoice for management fees from your Panama corp. The Panama corp pays no taxes (normal) and this reduces or eliminates profits on your Gib corp.

                I'd suspect the IRS would be crawling up your ass wanting "any" dime they could muster.
                XXX TLD's - Another mosquito to swat.

                  Comment

                  • Webby
                    Too lazy to set a custom title
                    • Oct 2002
                    • 14956
                    #55
                    Originally posted by sonofsam
                    Webby: sometime if you have some free time i'd love to chat with ya about setting up in EU if you wouldn't mind dropping some knowledge
                    Ah!! Hi Sam!!

                    I'm just doing some stuff with Gib at the moment - when I got it together I'll prob be able to give you a decent contact. They appear OK, but worth checking!
                    XXX TLD's - Another mosquito to swat.

                      Comment

                      • Webby
                        Too lazy to set a custom title
                        • Oct 2002
                        • 14956
                        #56
                        Originally posted by KGucci
                        Webby ~

                        Are you back to base yet??? ICQ~234-382-798
                        Kristi I'll get on ICQ back in the office and hit you hit....

                        BUT.. just a thought!

                        Would your CW be interested in putting together some kind of packages for webmasters in Canada and elsewhere? I know he's good at this kinda stuff and has good contacts - and if he has time, it would probably help all round.

                        Chat to you later about this!
                        XXX TLD's - Another mosquito to swat.

                          Comment

                          • bigdog
                            Confirmed User
                            • Jul 2001
                            • 6964
                            #57
                            Originally posted by Mutt
                            read what corvette said - if you are NOT RESIDENT in either Europe or the US you CANNOT, WILL NOT be the principle - you will not have control over your account so whomever you entrust to be your principle you better be sure they are about as trustworthy as you can get - and I'd think twice about using anybody with much knowledge of this industry - because they could get some funny ideas.
                            someone running away with the rebills doesn't sound like a good idea

                              Comment

                              • sexysphere
                                Confirmed User
                                • Dec 2002
                                • 769
                                #58
                                The problem with europe is banks take a lot of money on dollars wires and checks. So it's not a good idea if you have multiple billing processors ( to pay your affiliates.. ).
                                PaRaDiGm

                                  Comment

                                  • Webby
                                    Too lazy to set a custom title
                                    • Oct 2002
                                    • 14956
                                    #59
                                    Originally posted by Mutt
                                    read what corvette said - if you are NOT RESIDENT in either Europe or the US you CANNOT, WILL NOT be the principle - you will not have control over your account so whomever you entrust to be your principle you better be sure they are about as trustworthy as you can get - and I'd think twice about using anybody with much knowledge of this industry - because they could get some funny ideas.
                                    Mutt... I just read what corvette said and it leaves room some explaining. Control over ... assuming bank accounts is the responsibilty of the beneficial owner under these circumstances - not some nominee.

                                    There are plenty folks not resident within the US or the EU and they process in both these areas and are the principals - but they are not resident there. The EU has far more room to play with this stuff.

                                    Agree with you to a point in that it's not wise to let third parties handle your finances, but, at the same time - they are often handling far more than the average webmaster deals with and have reputations to maintain. I've never once allowed any nominee information on the existance of any bank account or whether or not a bank account existed. Several nominees have stated at the outset they they prefer not to know - gives their clients some confidence.
                                    XXX TLD's - Another mosquito to swat.

                                      Comment

                                      • Screaming
                                        I can change this!!!!!
                                        • Feb 2004
                                        • 18972
                                        #60
                                        Damn Kannuks.

                                          Comment

                                          • Webby
                                            Too lazy to set a custom title
                                            • Oct 2002
                                            • 14956
                                            #61
                                            In fact... that sure does not apply to all nominees, but at least one of mine is a millionaire in his own right and a director of .. think six banks, a law professor and hell knows what else.

                                            Got little doubts as to whether he's gonna run away with client funds!
                                            XXX TLD's - Another mosquito to swat.

                                              Comment

                                              • KGucci
                                                Confirmed User
                                                • Jun 2004
                                                • 653
                                                #62
                                                Originally posted by Webby
                                                Kristi I'll get on ICQ back in the office and hit you hit....

                                                BUT.. just a thought!

                                                Would your CW be interested in putting together some kind of packages for webmasters in Canada and elsewhere? I know he's good at this kinda stuff and has good contacts - and if he has time, it would probably help all round.

                                                Chat to you later about this!
                                                Let's set up a call to discuss when you get back in the office.

                                                Have safe travels!!! Stay warm!!!

                                                www.SegPay.com
                                                KGreer at SegPay dot com
                                                Skype: kgucci

                                                  Comment

                                                  • Marshal
                                                    Biz Dev and SEO
                                                    • Jun 2005
                                                    • 15228
                                                    #63
                                                    bump for the great thread!
                                                    ---
                                                    Busy ranking websites on Google...

                                                      Comment

                                                      • Mutt
                                                        Too lazy to set a custom title
                                                        • Sep 2002
                                                        • 34431
                                                        #64
                                                        Originally posted by Webby

                                                        There are plenty folks not resident within the US or the EU and they process in both these areas and are the principals - but they are not resident there. The EU has far more room to play with this stuff.
                                                        i have been through this with CCBILL thoroughly - your principal on a CCBILL account must RESIDE in the US if you are going with CCBILL US or an EU country if you are going with CCBILL EU.

                                                        If there are people who are principals on a CCBILL account who are not resident in the applicable region for their account - only two possibilities - it's an account established before the VISA regs changed and CCBILL hasn't caught up with it - or CCBILL is lying - and I'm sure they aren't on this.
                                                        I moved my sites to Vacares Hosting. I've saved money, my hair is thicker, lost some weight too! Thanks Sly!

                                                          Comment

                                                          • Webby
                                                            Too lazy to set a custom title
                                                            • Oct 2002
                                                            • 14956
                                                            #65
                                                            Originally posted by KGucci
                                                            Let's set up a call to discuss when you get back in the office.

                                                            Have safe travels!!! Stay warm!!!
                                                            Thanks Miss Gucci!

                                                            OK done - I'll hit you up shortly!
                                                            XXX TLD's - Another mosquito to swat.

                                                              Comment

                                                              • E Guru
                                                                Confirmed User
                                                                • Jul 2005
                                                                • 658
                                                                #66
                                                                You can get your Tax ID instantly online from the IRS website
                                                                Guru

                                                                  Comment

                                                                  • Webby
                                                                    Too lazy to set a custom title
                                                                    • Oct 2002
                                                                    • 14956
                                                                    #67
                                                                    Originally posted by Mutt
                                                                    i have been through this with CCBILL thoroughly - your principal on a CCBILL account must RESIDE in the US if you are going with CCBILL US or an EU country if you are going with CCBILL EU.

                                                                    If there are people who are principals on a CCBILL account who are not resident in the applicable region for their account - only two possibilities - it's an account established before the VISA regs changed and CCBILL hasn't caught up with it - or CCBILL is lying - and I'm sure they aren't on this.
                                                                    Hi Mutt! Yes, understand what you are saying. It's a matter of having a sensible corp structure and someone to call a principal and handle paperwork as a rep on behalf of a corp - can be a nominee or some other agent as long as it complies with the VISA rules.

                                                                    Fundamentally, apart from CCBill, there are now more processors within the EU than anywhere else (mean "adult" processors) and they offer more client security than the "old model" where there have been loses with companies like iBill. BTW.. Don't think CCBill even now offer any form of security of client funds - that seems to remain an subject with nada response.

                                                                    Only my worth, but I'll rather work with processors who do offer security or have a mechanism in place for protection of client funds.
                                                                    XXX TLD's - Another mosquito to swat.

                                                                      Comment

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