2257 - Close up shop...or relocate?
 

If it comes down to the point where the U.S. feds have made it virtually impossible to continue operating your adult sites (for whatever reason - 2257 provisions, merchant acct. pressures, etc.) - would you close up shop, or actively think of relocating to a porn-friendlier country?

if you are a US citizen, you are still bound by your countries laws, regardless of where you host, so it may still be difficult for you

Definately relocate! :thumbsup

Assuming US legislation gets silly - why bother falling under US laws? It's a BIG world out there!

Problems attached for US folks is...

(a) there is still the IRS requirement to submit data annually irrespective where you may live outside US jurisdiction.

(b) dunno... but the US *may* still assume you are obliged to comply with US laws as well - even when living abroad? (Or ya hit the dirt if you return?)

There is currently a nasty habit of the US checking passport renewals for their citizens and, eg... if there are outstanding IRS issues - they refuse to renew passports till these are resolved. Nice one!

Solution? Assuming shit keeps getting worse, - move to another country and relinquish US citizenship.

Depending on where you elect to live - bang goes tax payments, freedom to do what you want on the net (within reason!) and might as well move to a palm beach paradise which will cost less than almost all places in the US - plus a better lifestyle.

Oh...

add to the list that by relinquishing your US citizenship you also lose your social security and ability to benefit from the american banking system in full, including the easiness of transfering funds, getting merchant accounts and -in general- manipulating money.

Move to a palm beach state and suck coconuts all day but keep that tylenol handy for when the money headache starts.

That can cost you a lot of money...i think you have to pay something like 10 yrs worth of tax revenue :(

I think you have to fill out forms and go before a panel to renounce citizenship...and they may not let you do it.

Man.. for what you pay in social security and replacing that with same standard elsewhere - there is loads of pluses and savings.

On the banking system... being outside the US does not block fund transfers, merchant accounts or inhibit money manipluation in any way.. no way! :winkwink:

Yea.. heard they are not too eager to let good taxpayers free! :winkwink:

Amazing stuff!

im in canada, so all is well for me but yeah, if not i'd relocate as long as i was making enough to make it worthwhile. when i first got into this biz, i wanted to move to california. glad i didn't now with all the bullshit laws going on.

Relocating ain't that bad BlackCrayon - you are lucky if ya got Canadian citizenship - they don't chase you the world over.

Normally it's not a problem since most countries are same as Canada in this respect and there is no need to give up citizenship etc - just relocate and be a foreign resident.

The US "problem" is kinda unique in that roughly only three other countries are like it (mainly Arabic/Muslim) where they reckon ya were unfortunate enough to have been born there - you are owned for life and need to conform to their laws whether you live there or not.

US folks can do a "half measure" and host abroad etc, but doubt that would stand up if shit hit the fan - they are still subject to the laws of the country in which they reside.

I often joke to the wife that I'd like to open a Barbados division of my company someday - toss down some cold Banks brews while shootin' beach bunnies in bondage.

Even though we're Canadian...perhaps GWB and his 2257 is just the excuse and motivation we need to make it a reality eventually.

Although - it seems no matter where you go these days you're still subject to the whims and follies of dealing with visa and MC for membership trans. And Bush is still puttin' the screws to those guys...

A more simpler solution would be to make sure you have all your documents in order.. DUH!!

I meant "social security number", not the benefits. The ss lets you in the financial system, plus perks. I never mentioned blocking any funds transfers either. There are NO comparable banking systems like the one the US has, for speed and ease. Period. Just try playing with your money from abroad, like trading options directly on floor exchanges. In banana country you suck bananas.

That's the funniest thing I've heard all day! The US banking system is still in the "Stone Age" compared to what it should be. I moved there for 3 years, and the wife had a SSN. We couldn't wait to get back home where things were way easier.
Shit I lost my card one time and since I was out of town they wouldn't even send one to my house so it could be sent to me. I had to go to my home branch 2000 miles away. Debit transactions from your own account can take days. And try putting a cheque in the bank machine and removing the cash immediately. Not gonna happen. Nothing happens immediately. The automation is still proccessed by hand at the end of the day. And that's just the beggining or the "Incomparable banking system" :1orglaugh

Won't be needing docs if we ain't puttin' membership transactions through.

Mmm... I can't think of one valid reason why anyone, not currently in the US would want a SSN to "let you in the finacial system". There are rarely any advantages in this and last thing I'd ever want to do is bank in the US - for many obvious reasons. I sure don't want to be the proud possessor of SSN's and ID cards for this privilege and give a DNA test :winkwink:

Sorry man, but just can't agree on your claims of "NO comparable banking systems" - just ask any merchant banker. The worlds does not revolve around the US or it's banking systems, - tho no doubts they are a relevant part. Banks in several other countries are miles ahead of places like the US and a good number of EU countries, tho one of the top three countries is located in Europe.

BTW... I got no problem "playing with your money from abroad" with stuff like trading options in the US, despite I don't have an SSN etc. The US wants as much "foreign money" as it can get - which country don't? It's easy, and when there is a deal around, can be used to earn some dollars and kill US taxation in the process. That's just another benefit of not having an SSN or being involved in the "system".

The world has many trading floors and they use them daily - even folks from "banana countries" use em! :1orglaugh

Where ya get all that shit from?? :winkwink:

Banks can all be equally crappy at times - it's a banking "thing" the world over! :1orglaugh

But agree US banks (can't say for all of em!) are not exactly the cream of banking. Foreign banks are still wincing at their losses in the last banking problem in the US where the govt "just forgot" to pay out of the forerunner of the FDIC and are wary of the the current attempt at indemnities. Kinda reminds ya of iBill :winkwink:

We need to pool together and buy an island and incorporate our own pornography driven country.

Oh yeah? Why don't you tell us about your latest option trade? Did you call in your order to the floor or use your little Etrade account big guns?

Where would this island be?..off Iceland?

What's so funny, huh?
I am not speaking about your $150 monthly payouts. Neither ATM transactions. I said "playing with your money" and moving it around. Go try open 5 different bank accounts in Nassau, if they have that many banks.

Really??? I thought slavery was past.

I can move money instantly to any other member of my bank and some others instanly online. Shit with my US account, even a bill payment takes 5 days before it even leaves my account. You said nothing compares. I say Stone Age. :1orglaugh

:1orglaugh :1orglaugh :1orglaugh

Something bothering you?? I got no interest in discussing option trades or Etrade accounts with you.

The thread subject was about relocation - but ya obviously found a problem with that for some reason, eh? :1orglaugh

Yes, they do have that many banks - and more. You got a problem with that as well?? :1orglaugh :1orglaugh