Quote:
Originally posted by capribex
when i said "in my name" i didn't mean given name... i mean a name i can "answer to"... i am asking if it makes sense to bank offshore or if it doesn't worth the hassle
|
Ok, so if your billing account was set up in the name of your offshore corporation, and your bank account is in the name of this corporation, you would have an issue of cross border processing if you were using a US processor.
If it is simply an affiliate account that is paying you - well that could be a different story.
Let's say you got around the cross border processing someway (or you are talking about an affiliate account where the sponsor simply wires to a bank account), you still need to keep in mind the new Patriot Act, primarily set up to combat money laundering by terrorists, but something the IRS would not have been displeased about.
You can read more here:
http://www.gofuckyourself.com/showth...hreadid=114402
The advantages in setting anything up offshore, would need to be weighed up with the costs of doing it properly ie: how much you think you are going to actually earn.
I am sure there are many short cuts (the more short cuts = the easier it is to backfire ie:lose your money or a tax investigation finding the trail)
Set up:
Offshore Incorporation fee
Offshore bank account set up fee
Certificate of good standing fee
Certificate of Incumbency
Mastercard/Debit card fee
Annually:
Domiciliary fee for provision of local registered office, local resident agent and company secretary
Government tax (Tax Haven)
Provision of 3rd party directors/shareholders
Now, also in addition to the above, it was news recently that Mastercard had turned over all their records of offshore card holders to the Gov, so you had better have another way to get your money out - and hope that the next card coy doesn't do the same.
Alternatively, you could just set something up in Latvia - pay bugger all - and hope for the best!