To the billers in the EU region....will you process for a Gibraltar corp? - Page 2 - GoFuckYourself.com

Webby · 06-11-2003, 11:48 PM

psyko514:

How quick you gonna make that million.. I'm hungry

Groove · 06-11-2003, 11:48 PM

Quote:

Originally posted by Webby
Sorry Groove.. I am only familiar with the non resident corp... we looked at the others, but from what I remember, there seemed to be more record keeping involved and it was not a "true offshore". But this was a few years back - it may have changed a bit.

Thanks anyway

El Pres · 06-11-2003, 11:49 PM

Quote:

Originally posted by charly

You have to have a certain turnover, I think it's $50k. You not only charge VAT, you reclaim the VAT you pay out.

In the UK yep, but not in other countries, I know from working out of Holland and Spain that you have to register for sales tax from the first $1.

Webby · 06-11-2003, 11:52 PM

Quote:

I know from working out of Holland and Spain that you have to register for sales tax from the first $1.

I got this headache even thinking about VAT

Paul Markham · 06-12-2003, 12:04 AM

Quote:

Originally posted by El Pres

In the UK yep, but not in other countries, I know from working out of Holland and Spain that you have to register for sales tax from the first $1.

WOW that sucks. I think in some of the EU countries there is a minimum though. There is a minimum here unless you are a corperation.

But as we do not sell in Czech we get back all the VAT we pay out. How many of you get a check every three months from the sales tax people?

p00p · 06-12-2003, 12:24 AM

Quote:

Originally posted by psyko514
Excellent... I wasn't 100% if there's a EU fee or not.

When I make my first million, I'll send you all some cookies.

make it quick before Visa changes the rules again.

Co(in)sultant · 06-12-2003, 05:59 AM

Quote:

Originally posted by Groove
I was under the impression that you could use either Exempt or Non-resident if you do not have a business presence in Gibraltar. And Qualifying if you do have a presence in Gibraltar (note, you can not however sell to Gibraltar resdents).

Exempt is not an option (as long as you're not ready to disclose all info on beneficiaries and directors including, but not limited to, the provision of bank and business recommendations for 5+ years relations period). And even for non-resident companies, billings will ask you for a resident principal - and certainly it could be a pain 'cause billings treat "principal" as a beneficiary (i.e. a shareholder, not just a director) often. There're no bearer shares in Gib, so... you could stick to nominee shareholders as well, but you're to find that almost all nominees provided are _legal_ estates, not just a person - ruining the scheme, because the billing would not be satisfied with "ABC Ltd. is a shareholder of BCA Ltd." statement.

Co(in)sultant · 06-12-2003, 06:08 AM

And as of 100K threshold, just a quote:
"The original proposal, in June 2000, set a threshold for registration and collection of Euro 100,000; meaning sellers with EU sales below the threshold need not comply. The Directive does not mention a threshold for registration. Whether there will be a threshold for the entire EU, or whether individual Member States will set their own thresholds is not known."

XYCash · 06-12-2003, 06:13 AM

Quote:

Originally posted by Shoplifter

I am on some serious allergy medicine but I am pretty sure this only applies on sales from one VAT EU state to another. For example if you are in the UK and your client is in Austria you must collect VAT.

Gibraltar is a full member of the E.U. but has a derogation from applying VAT. Gibraltar therefore does not have a VAT system and subsequently Gibraltar companies will be unable to register for VAT in Gibraltar. For V.A.T. purposes Gibraltar is treated as being outside the E.U.

See: http://www.deloitte.gi/tax.html

The european union has been collecting VAT inside the EU for a while now. As of July 1st it will apply to anyone oustside the EU doing business with people inside the EU. All the processors that realize this is going into effect are trying to gear up for it even as we speak.

http://www.ecommercetax.com/doc/061602.htm

XYCash · 06-12-2003, 06:16 AM

Quote:

Originally posted by charly
WRONG!!

To charge VAT you have to be registered. So how do you register for EU VAT if you live outside the EU?

You have to have a certain turnover, I think it's $50k. You not only charge VAT, you reclaim the VAT you pay out.

This is how myths start on the boards, one guy reads something then everyone repeats it. And before you know it's a fact.

Man...I can't believe no one has heard of this. This goes into effect on July 1st:

http://www.ecommercetax.com/doc/061602.htm

it's been all over the boards..do a search for VAT on this board

crescentx · 06-12-2003, 06:27 AM

Gibraltar corps and all aside, you start mucking around with offshore, and still are living in the US, you're very likely to have the IRS on your ass...remember to report *every* cent of income accurately, keep detailed records, because they even have access to the ATM cameras where you withdraw the money...as it's been explained to me going offshore can be almost an automatic trigger for lots of unfriendly federal attention.

-doug

BRISK · 06-12-2003, 06:33 AM

Quote:

Originally posted by crescentx
Gibraltar corps and all aside, you start mucking around with offshore, and still are living in the US, you're very likely to have the IRS on your ass...remember to report *every* cent of income accurately, keep detailed records, because they even have access to the ATM cameras where you withdraw the money...as it's been explained to me going offshore can be almost an automatic trigger for lots of unfriendly federal attention.

-doug

He's from Canada. What is this IRS thing you speak of?

XYCash · 06-12-2003, 06:42 AM

Quote:

Originally posted by BRISK

He's from Canada. What is this IRS thing you speak of?

The U.S. bought Canada last week...u didn't hear?

scooby doo as scooby does · 06-12-2003, 08:04 AM

Gib is a great place for a holiday. Full of tacky and nasty discos to keep the British troops happy, and right next door to neighbouring Spain's hot and bikini ridden South coast (when the border is open).

One thought I did have when Gib companies first came up is the ongoing sovereighty tussle with Spain. Gib is a British dependancy and Spain don't like it. Talks have been ongoing for a while now about possibly sharing sovereignty. Whether that will have any affect on the company legal system. I dunno.

the indigo · 06-12-2003, 09:44 AM

Quote:

Originally posted by Webby
the indigo
Regarding VISA.. well, hell knows what they may do in the future. I dunno what you mean - "Visa doesn't process for Islands corporations." - tis the first I heard of that, and we have serveral "island corps".

I'm talking about High Risk merchants... you can not run a adult paysite if you are incorporated in Panama or Islands of Man since Visa doesn't process High Risk there

Webby · 06-12-2003, 10:37 AM

crescentx:

Quote:

Gibraltar corps and all aside, you start mucking around with offshore, and still are living in the US, you're very likely to have the IRS on your ass...remember to report *every* cent of income accurately, keep detailed records, because they even have access to the ATM cameras where you withdraw the money...as it's been explained to me going offshore can be almost an automatic trigger for lots of unfriendly federal attention.

This offshore stuff is not intended for US folks - they are cuffed from the word go. This applies whether they live in the US or not. Tho the IRS does have "some" allowances for US citizens living abroad.

For 99.99% of others (except Saudi, Lybia and a couple more countries), there is no problem. However, as a rule, if you are living in your country of citizenship it is required that all revenue taken into your home country be declared to tax authorities.

However, if you live outside your country of citizenship, tax is not normally payable.

the indigo:

Quote:

I'm talking about High Risk merchants... you can not run a adult paysite if you are incorporated in Panama or Islands of Man since Visa doesn't process High Risk there

I hear ya! :-) I never would have included the Isle of Man as an "offshore". It does involve a structure, but we do have high risk processing on other "islands". Horses for courses :-)

rowan · 06-12-2003, 12:04 PM

Quote:

Originally posted by crescentx
Gibraltar corps and all aside, you start mucking around with offshore, and still are living in the US, you're very likely to have the IRS on your ass...remember to report *every* cent of income accurately, keep detailed records, because they even have access to the ATM cameras where you withdraw the money...as it's been explained to me going offshore can be almost an automatic trigger for lots of unfriendly federal attention.

-doug

I heard an interesting tip once. Wear a motorbike helmet when you use the ATM.

Bear · 06-13-2003, 03:27 AM

Webby is a real expert in offshore field. He taught me a lot things at the time I setup Gilbraltar company with ibill. Hi Webby!

I use http://www.offshoregibraltar.com/ as well. They get the things done and do it fast. If you are hurry, you can buy their existing company. Or you can setup a new one.

They do offer nominee director. As far as know, it's a guy from England. Or you can setup a Panama company to hold your Gibraltar company.

Kimmykim · 06-13-2003, 04:02 AM

Quote:

Originally posted by XYCash

The european union has been collecting VAT inside the EU for a while now. As of July 1st it will apply to anyone oustside the EU doing business with people inside the EU. All the processors that realize this is going into effect are trying to gear up for it even as we speak.

http://www.ecommercetax.com/doc/061602.htm

I'm not sure what you are getting at here, since the processors are simply pass thru service companies working for their clients. The processors, as I see it, have no reason to do anything insofar as VAT goes. If individual corporations want to register and submit their VAT payments that is up to them.

Before you start screaming how wrong I am, give me some instances where processors in the industry collect and remit to ANY government ANY taxes on behalf of their clients.

Meteoseek · 06-13-2003, 04:46 AM

Imho Gibraltar is the best place to incorporate within VISA EU region at the moment. I used http://www.offshoregibraltar.com/
No complains with them.

scooby doo as scooby does · 06-13-2003, 05:00 AM

Quote:

Originally posted by Kimmykim

I'm not sure what you are getting at here, since the processors are simply pass thru service companies working for their clients. The processors, as I see it, have no reason to do anything insofar as VAT goes. If individual corporations want to register and submit their VAT payments that is up to them.

Before you start screaming how wrong I am, give me some instances where processors in the industry collect and remit to ANY government ANY taxes on behalf of their clients.

Don't want to start an argument here, and I admit this is only my interpretation. I hold up my hands and say 'I might be wrong'. This new VAT tax ruling applies to any business, U.S.A. based or otherwise, that supplys digitally downloadable products OR SERVICES to residents of the EU. I'm pretty sure Epoch (or globill etc.) 1) Have EU webmasters, and 2) Charge them commission for a service.

I would read that as making them liable for VAT come July 1st.

XYCash · 06-13-2003, 06:42 AM

Quote:

Originally posted by Kimmykim

Before you start screaming how wrong I am, give me some instances where processors in the industry collect and remit to ANY government ANY taxes on behalf of their clients.

I never scream :-) Infact...i think you write some of the most informative posts on this board. We're still in the process of figuring out how this will work ourselves. I really have no idea, but I do know from chatting with some people from different processors on Ynotmasters that each company is trying to figure out a stance to take on this. What the solution will end up being I don't know either. It very well could be that each merchant will have to figure out a way to tally up all the different tax rates and pay each country themselves. I do realize that it isn't the responsibility of the processors to pay these taxes, but the task of seperating out what EU member state a person buying a subscription is coming from would have to be something they were involved in.

-joe

qwe · 11-12-2003, 09:21 PM

got a question:

so i incorporated in the Gibraltar, now I'm my own director and it automatically gave me adress of the company. If I try to signup for the CCBiLL it asks me for business info so I enter whatever it gave me automatically in the incorporation papers, now when it asks me for principal info, can I enter exact same adress given to me automatically in the incorporation papers ? or I have to get another legit adress in Gibraltar ?

also what is the country code for Gibraltar ?

qwe · 11-12-2003, 09:46 PM

webby where you at ?

qwe · 11-13-2003, 02:48 PM

Slinx · 11-15-2003, 06:04 AM

Bump,

I'm also interested in a gib corp. Who did a setup with ccbilleu with an gibraltar corp?

Do you have an office service and bank account in gib?
Did ccbill call you in your gibraltar office?

Who has already incorporated in gib with a working processor setup?

Questions, questions, questions...

Madball · 11-15-2003, 06:14 AM

Quote:

Originally posted by qwe
so i incorporated in the Gibraltar, now I'm my own director and it automatically gave me adress of the company. If I try to signup for the CCBiLL it asks me for business info so I enter whatever it gave me automatically in the incorporation papers, now when it asks me for principal info, can I enter exact same adress given to me automatically in the incorporation papers ? or I have to get another legit adress in Gibraltar ?

LMAO!

06-12-2003, 06:27 AM	#61
crescentx Confirmed User Join Date: Jun 2003 Posts: 317	Gibraltar corps and all aside, you start mucking around with offshore, and still are living in the US, you're very likely to have the IRS on your ass...remember to report every cent of income accurately, keep detailed records, because they even have access to the ATM cameras where you withdraw the money...as it's been explained to me going offshore can be almost an automatic trigger for lots of unfriendly federal attention. -doug __________________ XYCash International Gay Affiliate Program

06-12-2003, 08:04 AM	#64
scooby doo as scooby does Confirmed User Join Date: Nov 2002 Location: A deep dark place. Posts: 314	Gib is a great place for a holiday. Full of tacky and nasty discos to keep the British troops happy, and right next door to neighbouring Spain's hot and bikini ridden South coast (when the border is open). One thought I did have when Gib companies first came up is the ongoing sovereighty tussle with Spain. Gib is a British dependancy and Spain don't like it. Talks have been ongoing for a while now about possibly sharing sovereignty. Whether that will have any affect on the company legal system. I dunno. __________________ In 1904, Charles Newman-Berry connected two abacus's together using specially enhanced GrapeVine thus inventing the first Internet connection. NEWMAN-BERRY CASH Paying webmaster since 1904

11-13-2003, 02:48 PM	#75
qwe Confirmed User Join Date: Jul 2003 Posts: 2,109	bump

06-11-2003, 11:48 PM	#51
Webby Too lazy to set a custom title Join Date: Oct 2002 Location: Far far away - as possible Posts: 14,956	psyko514: How quick you gonna make that million.. I'm hungry

06-12-2003, 06:08 AM	#58
Co(in)sultant Registered User Join Date: Nov 2001 Posts: 4	And as of 100K threshold, just a quote: "The original proposal, in June 2000, set a threshold for registration and collection of Euro 100,000; meaning sellers with EU sales below the threshold need not comply. The Directive does not mention a threshold for registration. Whether there will be a threshold for the entire EU, or whether individual Member States will set their own thresholds is not known."

06-13-2003, 03:27 AM	#68
Bear Confirmed User Join Date: Jul 2001 Posts: 261	Webby is a real expert in offshore field. He taught me a lot things at the time I setup Gilbraltar company with ibill. Hi Webby! I use http://www.offshoregibraltar.com/ as well. They get the things done and do it fast. If you are hurry, you can buy their existing company. Or you can setup a new one. They do offer nominee director. As far as know, it's a guy from England. Or you can setup a Panama company to hold your Gibraltar company.

06-13-2003, 04:46 AM	#70
Meteoseek Confirmed User Join Date: Aug 2002 Posts: 162	Imho Gibraltar is the best place to incorporate within VISA EU region at the moment. I used http://www.offshoregibraltar.com/ No complains with them.

11-12-2003, 09:21 PM	#73
qwe Confirmed User Join Date: Jul 2003 Posts: 2,109	got a question: so i incorporated in the Gibraltar, now I'm my own director and it automatically gave me adress of the company. If I try to signup for the CCBiLL it asks me for business info so I enter whatever it gave me automatically in the incorporation papers, now when it asks me for principal info, can I enter exact same adress given to me automatically in the incorporation papers ? or I have to get another legit adress in Gibraltar ? also what is the country code for Gibraltar ?

11-12-2003, 09:46 PM	#74
qwe Confirmed User Join Date: Jul 2003 Posts: 2,109	webby where you at ?

11-15-2003, 06:04 AM	#76
Slinx Confirmed User Join Date: May 2003 Posts: 823	Bump, I'm also interested in a gib corp. Who did a setup with ccbilleu with an gibraltar corp? Do you have an office service and bank account in gib? Did ccbill call you in your gibraltar office? Who has already incorporated in gib with a working processor setup? Questions, questions, questions...