Would you start a new company for each business activity?

[MiltonStone]

I wonder how you would doing the following scenario. I have been doing business both online and offline for 4 years, means I'm my own boss!

Because of the nature of business in some of the activities I have I'm afraid of the risk involved in getting my accounts frozen or even lose them totally. Now I considered that I could register say 3 - 4 offshore companies either in the same jurisdiction or in different and each with it's own bank account. So I put the business activity that is less risky in one corp, the more risky in another corp an so on.

The idea is if something goes wrong it will only hit one of the corps and I can shut it down or do whatever is required to get it in good standing again but I will not lose all my business.

What you say good idea?

 

[infotrader]

Diversifying definitely seems a safe option in your case surender. From my experience, keeping taps on multiple quarters is never easy. But if it really worth it, you can try it as an option. Depending on the niches, you have to register accounts in multiple jurisdictions. It isn't trickier than multiple accounts in same jurisdiction. You are going to operate the accounts online anyways.

 

[JohnLocke]

You may want to split the businesses at least in a way so you have the high risk business running in an seperated entity to avoid all your funds frozen or even lost.