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CoolE · 10-02-2002, 05:10 PM

Useful post Ron, thank you.

I have a comment. This all has huge implications for international webmasters. I am in Canada for example; I have spent all day talking to lawyers and accountants trying to understand how I can create a US LLC for myself and get the money from there into Canada. Setting up the LLC is no problem it's the damn money flow that is hell. No one I talked to seems to truly understand how to do all this. This is going to take some time to figure out. I think the November 15 deadline is going to be a huge problem for us international guys. I can't see getting all this resolved and in place by then. Mainly because clarification is needed as to what is meant by the requirement for "a US entity", and if it means the money (my weekly wire transfers I mean) must go to a US company owned by me, then there is much work to do - a lawyer and an accountant on each side of the border must be at least consulted and possibly retained ongoing.

Please keep this in mind as you talk to Visa, we international merchants need more time to adjust to this; that is my strong opinion. Visa needs to clarify and then grant us the time to comply. What they want will be done (I'm not about to say goodbye to all my rebills and affiliates), but it will take time for us international guys to do it.

10-02-2002, 05:10 PM
CoolE Confirmed User Join Date: Jul 2002 Location: Canada Posts: 451	Useful post Ron, thank you. I have a comment. This all has huge implications for international webmasters. I am in Canada for example; I have spent all day talking to lawyers and accountants trying to understand how I can create a US LLC for myself and get the money from there into Canada. Setting up the LLC is no problem it's the damn money flow that is hell. No one I talked to seems to truly understand how to do all this. This is going to take some time to figure out. I think the November 15 deadline is going to be a huge problem for us international guys. I can't see getting all this resolved and in place by then. Mainly because clarification is needed as to what is meant by the requirement for "a US entity", and if it means the money (my weekly wire transfers I mean) must go to a US company owned by me, then there is much work to do - a lawyer and an accountant on each side of the border must be at least consulted and possibly retained ongoing. Please keep this in mind as you talk to Visa, we international merchants need more time to adjust to this; that is my strong opinion. Visa needs to clarify and then grant us the time to comply. What they want will be done (I'm not about to say goodbye to all my rebills and affiliates), but it will take time for us international guys to do it.