Moving my Internet Business Offshore
March 4th, 2010 | by oneway |Back when I started my hosting company I didn’t think much about tax liabilities and how essential it is to plan ahead. I didn’t think much about book keeping either and after a few months of steadily expanding my company I reached a point where I had to deal with both problems.
I made some googling and at the end to deal with taxation and accounting in a way that many of my employees didn’t even consider: Moving my online business offshore.
Now that might sound a little bit strange and more like risky undertaking to some of you, but now after everything is done I can say that it was definately the best business decisions I’ve ever made.
Stateside Finance helped me incorporating the tax haven company and opening a trading account with a reputable and well-known offshore bank in an offshore tax haven. Again, when most hear offshore tax haven they right away think of tax fugitives and money laundering but little do they know how many advantages an offshore tax haven really provides.
Quite literally bank, insurance, international institution and even governments run foundations in offshore jurisdictions. Mainly for tax reasons but also to conduct business internationally in a easy and confidental manner.
I incorporated my company in the British Virgin Islands for under $1900 and moved the business offshore. Stateside Finance guided me through the whole process and believe it or not I didn’t even had to leave my office home.
Now I don’t have to break my head about taxes or accounting or even company liability; moving my company offshore solved all these problems once and for all.