Rip:
Rip.. ya gotta think hard about the US corp thing. There are loads of implications to it - even just because it is in the US. (That reads "control" and they got ya by the bollocks!).
It is far safer having a corp in some other country that has the benefit of a range of processors who can take your business without you having to open your soul to them and pay $750 for the priviledge and have withholding taxes.
The criteria is... where is there a number of processors who can handle your biz? Look to European countries... even CCBill has representation there and there are a good few others.
Example above of UK and Gibraltar are just a couple - by the way "offshore" has a myth about it. I've been "offshore" for a good few years now and have several corps in various jurisdictions. There is little difference to being "onshore". The main thing is there are no taxes, so it is up to you to declare funds you bring into your home country. It also costs no more to be offshore.
Having said that, this offshore stuff does not apply to US citizens in the same way... they gotta pay taxes to the regime in Washington wherever they are. Canada does not have restrictions like this.
Kinda sucks, I am looking into the US corp. end of things, but if it's gonna be a pseudo borderline prospect at best... then the deck of cards may come falling down to earth at some point in the near future
not to mention the tax scenario... pay tax in the US, and pay tax again when it comes to
not to mention the tax scenario... pay tax in the US, and pay tax again when it comes to
It is far safer having a corp in some other country that has the benefit of a range of processors who can take your business without you having to open your soul to them and pay $750 for the priviledge and have withholding taxes.
The criteria is... where is there a number of processors who can handle your biz? Look to European countries... even CCBill has representation there and there are a good few others.
Example above of UK and Gibraltar are just a couple - by the way "offshore" has a myth about it. I've been "offshore" for a good few years now and have several corps in various jurisdictions. There is little difference to being "onshore". The main thing is there are no taxes, so it is up to you to declare funds you bring into your home country. It also costs no more to be offshore.
Having said that, this offshore stuff does not apply to US citizens in the same way... they gotta pay taxes to the regime in Washington wherever they are. Canada does not have restrictions like this.
I don't understand why more people are not thinking about setting-up in a tax haven. Once you establish a company outside your country of residence you ARE offshore. So why not do it in a country where there's no tax and no requirement for detailed book keeping, tax returns, etc?
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