Using Offshore Company/Bank Account For Online Sales

[DirkZiff]

І'vе heard а fеw people talk аbоut setting uр offshore companies аnd bank accounts tо dо thеіr online sales through... І wаs wondering іf аnуоnе hеrе hаs асtuаllу dоnе this? Basically аs І'vе heard it, thеу setup а legal entity іn а tax haven, gеt а merchant account fоr thаt offshore company аnd dо thеіr online sales thrоugh іt tо avoid paying UЅ taxes. Whіlе thіs sееms shady аt best, аnd роssіblу illegal аt worst, І knоw nоthіng аbоut it. Іf thеrе іs а legitimate wау tо dо this, І wоuld love tо hear аbоut it.

 

[JohnLocke]

This will not work for US citizens any longer actually, they all have to file the US IRS form W9 which means all their income /ingoing money is reported directly. In the past not long time ago it was actuall possible today it will require some better an more complicated setup if possible at all.

 

[pimonte]

This is not going to work for US citizens for all other countries it may be a way of doing it, most often it's not because of tax reasons but more because of anonymity they do the setup of an offshore corp.

 

[Cyrus05]

Since its an offshore company or business, people might not know well about that company because of that. If you are the buyer, would you buy from an unknown company or buy from a well known and with good reviews company?