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fen7azy

New member
Hello everybody,
I would like to get an advice regarding my Dropshipping “business”.

Let’s start wi that I am EU citizen.
I sell (dropshipping) in USA, Canada, Australia (for now).
I am operating without a company for now, as I am not quite sure where I need to register a company, so I am making a research.
I’ve contacted SFM, and they offer me Belize’s company and bank account, however I saw posta here saying that SFM are simply a Scam...
So I am asking here... is it a good idea to have an offshore company and/or bank account for me dropshipping business so that I would pay less or even none tax?
Does anyone have been i. Same situation?
Could you let me know what is the best option in terms taxation for my dropship business internationally?

If an offshore company and/or bank account could be used, could you tell how can I register such online? Are there legal companies (not like SFM) thag offers service for registering company and open a bank account for a fee?
 

Shaoling

New member
Bro, I can help you with it.. is the same scheme I have done.. a couple of things.. forget Belize.. too expensive and worthless cause you will have problems taking the money out of there..

In my case I opened a hong kong company.. and I went to Hong Kong to open the bank account.. I tried at the begging with a nominal director and banks didn't wanted me.. then I went legal and I found the account with hsbc..

Problems... no one likes dropshipping.. cause the money flows too fast.. so it may take you a bit to find bank..

I recommend you sant Vincent and the granadines.. hong kong.. or dubai..

Cheapest than Belize.. safer than belize.. and faster than belize..

But the main thing here is.. what are your needs? Less taxes..? IRS. ?
 

fen7azy

New member
Hello Shaoling,

I would like to pay less taxes or zero taxes (that would be the best possible option), and be able to use reliable payment gateway. I am not sure, what payment gateway you can use with your Shopify and your HK company. I would appreciate if you share your knowledge. I am not going to SCAM people, I need to setup a bank account and company in order to be able to work, as my country's banks don't tolerate dropshipping, and they block accounts after 1-2 weeks even with small amount of money (5-6-7K USD/EU), which stops my business.
I tough using a LLC company registered in Delaware USA, but I am finding different information form different sources and I am not quite sure, if USA (LLC) company is the right choice, so that I start researching the possibility of using an Offshore Company and/or Bank account.
 

Shaoling

New member
I would go with a Hong Kong +neat +hsbc.. all you sell away from hong kong is zero taxes, the problem is that I strongly reccomend you not to use a nominal director cause banks will reject you.

The account of neat.hk can be open online.. they accept dropshipping and the hsbc you gotta travel.. but worth it.. cause is way safer, and they also accept dropshipping.
 

bibing

Active Member
I think neat, as any HK institution is CRS compliant. How to avoid that if account holder is still EU resident?
 

Shaoling

New member
The problem is the business model.. the dropshipping is complicated.. I would recommend you Delaware or Wyoming..but.. same problem with uncle sam..

You can try expending more.. open a RAK company and go to dubai for the bank account.. and lie about your business activity..

Or do the same with a sant vincent LLC.. with a bank account in Serbia..

My very first solution when I started was doing a UK company every single year using family I have in Venezuela and Argentina as UBO instead of me.. and I worked just fine..

You have several options to avoid taxes..none of them totally white..

I think that if uncle Sam sees you sending or receiving money from an Arab country, you will be calling attention you dont want..

The best scheme for me was Hong Kong under the name of my uncle
 

amf

New member
I would go with a Hong Kong +neat +hsbc.. all you sell away from hong kong is zero taxes, the problem is that I strongly reccomend you not to use a nominal director cause banks will reject you.

The account of neat.hk can be open online.. they accept dropshipping and the hsbc you gotta travel.. but worth it.. cause is way safer, and they also accept dropshipping.
@Shaoling you are with HK company ? how is it with yearly fees ? Cause I had one that i had to close even before start and now im in process of opening another one....but ocst wise is way more than wyoming or delaware.
What is your experience with hk - annual reports ? auditors ? etc ?
 

drewsn

New member
Hi dropshippers, please how do you get your product catalog from your suppliers? Please any help is appreciated!
 

temporary

New member
Hi. I'm trying to learn more about this... Is neat the best way to do dropshipping perhaps?
I really need some trusted remote sites. I can trust neat remotely. Any other sites i can reserach and maybe trust? I mostly need a paypal business account. A card and create an company and get an address. I get an address i can use online and in forms with neat. Thanks
 

LoveMyLife

Active Member
Using a HK company for dropshipping is non-sense. Accounting costs, auditing costs, administrative costs are so expensive, you have to dropship very expensive product with a huge margin to earn as much as you need to pay all the costs.

Belize is cheap, but their banks are having problems with liquidity and corrsspondence banking from time to time.

UAE is stable, but not cheap. But it is still one of the best ways.

St. Vincent is the same crap as Belize.
 

magicmat

New member
>>Belize is cheap, but their banks are having problems with liquidity and corrsspondence banking from time to time.

Change that to ALL the time.
 
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