When I opened my online company I didn’t research much about tax liabilities and how important it is to plan for the company’s future. I didn’t think much about book keeping either and after a few months of steadily expanding my business I reached a point when I had to face both issues.
I did some googling and at the end made the decision to deal with taxation and accounting in a way that many of my business partners didn’t even consider: Moving my online business offshore.
You think that might sound a little bit uncommon and more like an adventure to some of you, but today after everything is done I can tell you that it was definately the best business decisions I’ve ever made.
Stateside Finance helped me incorporating the offshore company and opening a merchant account with a reputable and well-known bank in an offshore tax haven. Again, when most people hear offshore tax haven they right away think of tax evasion and money laundering but little do they know how many advantages an offshore jurisidiction really has to offer.
Practically bank, insurance, international company and even governments maintain companies in offshore jurisdictions. Certainly for tax purposes but also to do business internationally in a simple and confidental way.
I incorporated my company in the Carribean for less than $1900 and moved the company offshore. Stateside Finance guided me through the whole process and believe me or not I didn’t even had to leave my office office.
Finally I don’t have to think about taxes or accounting or even company liability; moving my Internet Business offshore sorted out all these issues once and for all.