Our valued sponsor

Sword and Shield
SWISSMONEY Iban Accounts with Sepa

I Need a complete solution !

P

Piratos

Offshore Agent
Aug 11, 2012
1
1
3
37
#1
First of I all , I want to thank everyone in this forum for their participation and great help for other member .


Secondly I really want to thank the Admin , not just for creating and maintaining this forum but also for POSTING AND ANSWERING QUESTIONS , very rare thing to see an admin do in my experience .


I am new here , but I have reading a lot on this forum . I was not into offshore or anything like this before but now the necessity demands that I get into it .


I am a Canadian Resident and I specialize in Online Marketing ( SEO , PPC , SEM , Dropshipping , etc.....)


Feel free to ask question about that feild and I will help as much as can .


Now , here is the situation : I got into the drop-shipping business and that lead me naturally to the replica business .


I found a great niche , where I will build an e-commerce website and sell replicas of the original product .


My questions are :


1-What is the best anonymous offshore hosting and domain register ?


2-What is the best gateway or payment processor that I can use and it allows replica?


3-Should I register the website as an offshore company ? ( will do around 50-70K per month in sales )


4-If I register it as an offshore company what is the best place ?


5-Should I get an offshore bank account ?


6-Having an offshore bank account , will it help me evade some taxes in Canada ?


7-If in case , I evade taxes , how can I spend my money in Canada without having to be audited and asked where my money came from ?


I hope I can find some answers for my questions and If those where answered before I am terribly sorry , I used the search button and I didn't foind much results !


Thank you
 
  • Like
Reactions: redeye
#2
Welcome aboard and thank you soo much for the nice words and feedback about our work thumbups

1-What is the best anonymous offshore hosting and domain register ?
2-What is the best gateway or payment processor that I can use and it allows replica?
Click to expand...
Unfortunately the above are not working hand in hand together and will be almost impossible to achieve.


The reason for this is that the payment processors now a days will need a transparent merchant business, means everything needs to be public available or at least traceable towards the processor, there is no anonymity granted when it comes to payment processing, also not with an offshore company since the payment processor will need ALL information about the company and it's owners.


Furthermore, replica business is unfortunately very difficult to place, you may approach payment processors like failsafe payment, psbill, gspay and similar, you may want to find a payment processor anyway before you proceed at all with the incorporation of a company.
 
#3
I can answer a few of these, if Admin doesn't mind.


The best anonymity you can buy these days when it comes to domain names is from DirectNic. Most registrars for domains will easily send out your contact information to anyone that wants it. In my line of work, it's not unusual that I have to track down people who own anonymous domains, so that I can make offers to buy them for my clients. If the domain is registered through DirectNic, I don't even bother. They're in the Cayman Islands now, since they made the big move, and they NEVER honor information requests. You can call the phone number on the registration, you get the desk of someone who doesn't exist. You can send email to the administrative contacts until your fingers are blue. You'll NEVER hear anything from them. Ever. It's not even worth trying to do. Very frustrating for people attempting to get this information... very useful for you if you're not interested in being found.


Regarding #7. You're not evading taxes. It's awful to admit to even thinking about it. There's no such thing. It's just that running a corporation, and keeping your supply chain running like the engine of capitalism that it is can be expensive.


I hope someone will correct me if I'm wrong, but it's my understanding that "operating expenses" don't qualify as "income" in most places. Operating expenses could be a lot of things. Yes, it can mean salaries, overhead, rent, and whatnot. But it could also mean things like nice cars (registered to the company, of course), houses (also owned by the company), lunches and private parties, strippers (my personal favorite, call it business meetings), and much more. Every dollar you spend on "operating expenses" is one dollar less that you have in "income." I'm sure that you would happy pay what you could in taxes, once all of your critical "operating expenses" are taken care of. Giant companies like Walmart and Google, even Apple and Microsoft leverage this. They have to work under the same tax rules we do.


I don't know what other people on the board are doing, but my plan is to incorporate a holding company in Belize, and then open a trading company in Hong Kong, where the corporate tax rate is very low. From there, I'm incorporating an LLC in Kansas (no state taxes after January 2013), where I plan on running my E-commerce Solutions company. The holding company owns 100% of the trading company. The trading company owns all of the assets and intellectual property the LLC has. And the LLC is the one that does business. Since the LLC is not designed to turn a profit, I can get out of everything but payroll and personal income tax (mine, and I'm only paying myself minimum wage) in the United States. The trading company in this scenario makes all of the money, and pays taxes legitimately. Thanks to double taxation treaties with the United States, once taxes are paid in Hong Kong, the company can't be asked to pay again in the US. I pay my nominal taxes on the $120 paychecks I pay myself, and it's all good. And as far as I know, it's all legal.


At least, that's the way it works out in my head.


I'm about a week off of incorporating the holding company.


How this actually pans out in reality may be a whole different thing.
 
Last edited by a moderator:
  • Like
Reactions: JohnLocke
#5
Yitzhak said:
I don't know what other people on the board are doing, but my plan is to incorporate a holding company in Belize, and then open a trading company in Hong Kong, where the corporate tax rate is very low. From there, I'm incorporating an LLC in Kansas (no state taxes after January 2013), where I plan on running my E-commerce Solutions company. The holding company owns 100% of the trading company. The trading company owns all of the assets and intellectual property the LLC has. And the LLC is the one that does business. Since the LLC is not designed to turn a profit, I can get out of everything but payroll and personal income tax (mine, and I'm only paying myself minimum wage) in the United States. The trading company in this scenario makes all of the money, and pays taxes legitimately. Thanks to double taxation treaties with the United States, once taxes are paid in Hong Kong, the company can't be asked to pay again in the US. I pay my nominal taxes on the $120 paychecks I pay myself, and it's all good. And as far as I know, it's all legal.


.
Click to expand...
It looks good. All income/revenue earned by your Hong Kong company from outside Hong Kong is tax free. If you have no customers from Hong Kong then you pay no tax.


The only issue tthat you need to think about is that all your money will be in Hong Kong. How do you propose to transfer it to Canada (so that you can spend it) without the IRS claiming the transfers are payments from your Hong Kong company to you (and therefore is income for the purposes of the Canadian IRS)
 
Last edited by a moderator:
#7
Incorporating a company in Hong Kong is not complicated at all. Hong Kong is usually rated number one or two in most international surveys on ease of setting up and conducting business.


See the following survey from the World Bank and the International Finance Corporation Global Forum on Transparency and Exchange of Information for Tax Purposes
 
Last edited by a moderator:
#8
That's a great list, thank you for sharing, however, the list is based on:

Economies are ranked on their ease of doing business, from 1 – 183. A high ranking on the ease of doing business index means the regulatory environment is more conducive to the starting and operation of a local firm. This index averages the country's percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic. The rankings for all economies are benchmarked to June 2011.
Click to expand...
Actually this does not indicate how long it takes to incorporate a company, I don't believe it can be done within 48 hours like it can with other offshore jurisdictions.
 
#10
Schonholz said:
Will a Hong kong company be possible to be incorporated remote?
Click to expand...
The companies can be set up without you having to travel to Hong Kong.


To open the bank accounts you need to visit the banks in person UNLESS you want to use nominee directors to operate your bank accounts.
 
Last edited by a moderator:
#11
busdriver said:
Anyone opened a company bank account lately in Hong Kong?
Or having a lot of trouble doing so now?
Click to expand...
So you post the same message in 4 threads, before I go and delete some of them, let me ask you, do you faced any troubles? It seems you are in a hurry to find out?
 
#14
#15
My contact for OK for a long time. Now he lost his contact to the bank :( combined with the fact that one can read it's becoming more difficult to open a bank account, one might prefer a guaranteed service with money back if it does not work. Anyone know someone who offers that?
 
  • Like
Reactions: JohnLocke
#16
I wonder what happens if you simply call a bank in HK (some of the major banks there) and schedule an appointment to discuss you needs to open an account. I can't see why you need an introducer to do that, maybe I missed something. If they agree to the meeting then you only need to travel there to get the account or not?
 
#17
Well, a friend of mine did that with HSBC. He could open a private account, but not for his company. Using an introducer made account opening a much quicker thing to do, like less meetings (saving time). Like I did not have to see the setup agent. I received the green box (with BR and all the papers) actually at the bank :) ... but that's past now.
 
#18
Okay, was just wondering as already said. So Introducer is required, you may try Trinity Services Inc they have an office in Hong Kong they say and may be able to help you.. use at your own risk ;)
 
#19
busdriver said:
Well, a friend of mine did that with HSBC. He could open a private account, but not for his company. Using an introducer made account opening a much quicker thing to do, like less meetings (saving time). Like I did not have to see the setup agent. I received the green box (with BR and all the papers) actually at the bank :) ... but that's past now.
Click to expand...
What service you used for your Hong Kong company registration, mind to share rea#44!
 
You must log in or register to reply here.

Forum Announcement

Latest Threads

SWISSMONEY Iban Accounts with Sepa
Offshore Bank Accounts
The Kingdom Bank
Top Bottom
Back