US LLC for Product Development Agency

[Novice]

Hello

We're looking for consultation or guidance in our endeavor. If we have to consult someone, we might want to know where to start. (we don't want to consult anyone or else they'd have an interest in getting us to incorporate in the countries they offer services in.)

This topic has been deleted in a different section and we weren't notified why. No advertising intended whatsoever. If you feel this topic has something wrong, please let us know why if you decide to delete it.

Business Idea:
We have a great network of freelancers from previous training programs and bootcamps we've conducted over the past few years. We thought of starting an agency and connect those freelancers with employers and companies around the world. (They might get the clients themselves as well)

Our role will be managerial as well as being the middleman/escrow in the whole process of project development (helping with project monitoring and collecting and paying out payments; partially or completely according to agreement, from employers to freelancers as they progress in project development milestones.)

The question then is, we will transfer money from the US to our country in Asia to be received by one person (LLC managing member) and to pay freelancers afterwards after taking a commission (~2-5% or so).

• Do we need any special licenses for such business/operation?

We're not trying to avoid taxes or any screening. We just need to do it right and if there is a place where we could save some costs, it would be great.

It's a 2 Members LLC. (Members Managed) and planning to tax it as partnership. One is US Resident (with SSN) and one is citizen of the Asian country.

We plan to use PayPal mainly to receive money from Employers and use Western Union, MoneyGram and the like + Cryptocurrency (Stable coin) to transfer money to the foreign member to pay out freelancers. (So, we need to buy cryptocurrency in the US for remittance purposes mainly.)

1. Is there any particular US state we should look into to incorporate? (Taxes and Regulations)
2. What Licenses or regulations we should look into?
3. Any advices on such a business model or type of business?
4. Which state is cryptocurrency friendly and which we should avoid (for let's say USDT buying/selling?)

Thanks

 

[Fulton Abraham Sanchez]

N, hi. The LLC is no issue and need no license. If you market your business to clients and contract vendors it is similar to fiverr that keeps a share of the payment as commission.

 

[avalanche]

Hello

We're looking for consultation or guidance in our endeavor. If we have to consult someone, we might want to know where to start. (we don't want to consult anyone or else they'd have an interest in getting us to incorporate in the countries they offer services in.)

This topic has been deleted in a different section and we weren't notified why. No advertising intended whatsoever. If you feel this topic has something wrong, please let us know why if you decide to delete it.

Business Idea:
We have a great network of freelancers from previous training programs and bootcamps we've conducted over the past few years. We thought of starting an agency and connect those freelancers with employers and companies around the world. (They might get the clients themselves as well)

Our role will be managerial as well as being the middleman/escrow in the whole process of project development (helping with project monitoring and collecting and paying out payments; partially or completely according to agreement, from employers to freelancers as they progress in project development milestones.)

The question then is, we will transfer money from the US to our country in Asia to be received by one person (LLC managing member) and to pay freelancers afterwards after taking a commission (~2-5% or so).

• Do we need any special licenses for such business/operation?

We're not trying to avoid taxes or any screening. We just need to do it right and if there is a place where we could save some costs, it would be great.

It's a 2 Members LLC. (Members Managed) and planning to tax it as partnership. One is US Resident (with SSN) and one is citizen of the Asian country.

We plan to use PayPal mainly to receive money from Employers and use Western Union, MoneyGram and the like + Cryptocurrency (Stable coin) to transfer money to the foreign member to pay out freelancers. (So, we need to buy cryptocurrency in the US for remittance purposes mainly.)

1. Is there any particular US state we should look into to incorporate? (Taxes and Regulations)
2. What Licenses or regulations we should look into?
3. Any advices on such a business model or type of business?
4. Which state is cryptocurrency friendly and which we should avoid (for let's say USDT buying/selling?)

Thanks

Western Union and MoneyGram might not like what you are going to do with their network. After $15-$20k volume they will start blocking funds and asking sender or receiver to describe their relationship with the other party. If you are not friends or family, they might refuse to provide further services to you or even blacklist you for unknown amount of time

 

[Novice]

N, hi. The LLC is no issue and need no license. If you market your business to clients and contract vendors it is similar to fiverr that keeps a share of the payment as commission.

Great. Thank you for the reply.

It is indeed like Fiverr (upwork, freelancer and other freelancing platforms).

Do you think incorporating in Wyoming will do it?

Western Union and MoneyGram might not like what you are going to do with their network. After $15-$20k volume they will start blocking funds and asking sender or receiver to describe their relationship with the other party. If you are not friends or family, they might refuse to provide further services to you or even blacklist you for unknown amount of time

He's a friend (a college friend and known him for over 12 years). I've been receiving payments from him via western union for over a year now. But surely, not that much a month. I might have received up to $7k in one month with no problem.

I have no issue explaining or providing any documents if WU ask.

Do you think Cryptocurrency (USDT mainly as it's popular and in high demand in the Asian country) is no issue for remittance purposes?

 

[Fulton Abraham Sanchez]

Great. Thank you for the reply.

It is indeed like Fiverr (upwork, freelancer and other freelancing platforms).

Do you think incorporating in Wyoming will do it?



He's a friend (a college friend and known him for over 12 years). I've been receiving payments from him via western union for over a year now. But surely, not that much a month. I might have received up to $7k in one month with no problem.

I have no issue explaining or providing any documents if WU ask.

Do you think Cryptocurrency (USDT mainly as it's popular and in high demand in the Asian country) is no issue for remittance purposes?

I think so. For payments to contractors xoom.com is good and tested, but dont know if it works in Asia. If it does you should do the payments from the US.

 

[avalanche]

Great. Thank you for the reply.

It is indeed like Fiverr (upwork, freelancer and other freelancing platforms).

Do you think incorporating in Wyoming will do it?



He's a friend (a college friend and known him for over 12 years). I've been receiving payments from him via western union for over a year now. But surely, not that much a month. I might have received up to $7k in one month with no problem.

I have no issue explaining or providing any documents if WU ask.

Do you think Cryptocurrency (USDT mainly as it's popular and in high demand in the Asian country) is no issue for remittance purposes?

I'm talking about not just 1 person but many different people. Do you really think WU doesnt have a method to check the sender's identity and automatically tag the sender transferring to multiple people substantial amount of money on regular basis?

 

[Novice]

I'm talking about not just 1 person but many different people. Do you really think WU doesnt have a method to check the sender's identity and automatically tag the sender transferring to multiple people substantial amount of money on regular basis?

First, he actually is going to send WU payments to me only (I'm the one in the Asian Country). It's for this reason (not sending to many people all the time + reducing transfer costs) I'm the only one going to receive payments from him and I'll send out payments to freelancers using internal bank transfers in the country.

So, yes, I believe WU has its own system to check and flag transfers/people and they blacklist people frequently (temporarily or permanently.)

I've once been told by one Customer Support Supervisor of a major payment processing company that they consider their services more in the security field rather than the financial.