I have a simple membership based (selling virtual items) site earning 1000-2000 usd monthly average.
I am from Eastern EU.
My business is worldwide and I have blocked my own country from accessing to it.
Payment gateway is US Based and I have both payoneer (virtual US and EU Bank ACC) and my friend's real US Bank ACC -however he isnt living in US and he isnt a US citizen.
-If I get my deposits into that bank acc from payment gateway and cash it in any ATM(VISA-MC Network) in my country then this will not a problem with tax and bank?
I talked with my payment gateway and they said you dont have to enter any tax form because you are not a US citizen and resident.
But what if IRS or US Bank or Payoneer report my earnings to my Country's Tax authority?
-Or should I have to create a seyschelles - belize based company and get a bank acc from there and cash with it?
- Is there any benefit to open a offshore company in my current situation?
I am from Eastern EU.
My business is worldwide and I have blocked my own country from accessing to it.
Payment gateway is US Based and I have both payoneer (virtual US and EU Bank ACC) and my friend's real US Bank ACC -however he isnt living in US and he isnt a US citizen.
-If I get my deposits into that bank acc from payment gateway and cash it in any ATM(VISA-MC Network) in my country then this will not a problem with tax and bank?
I talked with my payment gateway and they said you dont have to enter any tax form because you are not a US citizen and resident.
But what if IRS or US Bank or Payoneer report my earnings to my Country's Tax authority?
-Or should I have to create a seyschelles - belize based company and get a bank acc from there and cash with it?
- Is there any benefit to open a offshore company in my current situation?