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Why you may want to own your IM business in an off-shore entity.

by Joe Mobley
5 replies
Why you may want to own your IM business in an off-shore entity.

I have some Adsense sites that bring in a small income - I would like
to move those off shore (hosting, domain register, Adsense account,
etc)
Going offshore for asset protection purposes is a very intelligent and prudent move. Unfortunately most people only consider this after they are 'burned' so to speak. Usually it takes a lawsuit or legal proceeding to wake people up to the reality of doing business.
Very, very interesting post by Edmund John.

Be aware that I am not a legal or tax professional.

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Do NOT talk with a US legal or tax professional with no International experience!!! They are more afraid than you are!
Their discussion will almost invariably begin with IRS horror stories.
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» The Real Story About Americans Going Offshore » Flag Theory

Joe Mobley
#business #entity #offshore
  • Profile picture of the author Horny Devil
    Banned
    Originally Posted by Joe Mobley View Post

    Why you may want to own your IM business in an off-shore entity . . .
    Then again, maybe not.
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  • Profile picture of the author Mark Antonink
    Hi, Joe Mobley

    You are right, there is very low information about offshore.

    You should apply for it, because, there is very little or no taxes, no auditing, no accounting and you can focus on your own business.

    You are private, your bank account is on the company, which is private.

    You have more freedom.

    It must be helpful!
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  • Profile picture of the author Thomas Michal
    "Legally" you still have to pay taxes.
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  • Profile picture of the author MarketingManUK
    My view is that if you're worrying about taking your company off-shore you've taken your eye of the ball when it comes to IM.

    Unless you are generating many hundreds of thousands of dollars a month this really isn't worth the risk vs. rewards and costs of set-up and running.

    And don't forget at some point if you want to spend your money you're going to need to bring it back on-shore - at which point its subject to tax.

    It's all to easy to get "clever" when it comes to tax - get a decent accountant and stay-on-shore. You'll still bring your effective rate of tax down, you build up a credit rating, and you're unlikely to fall foul of the tax authorities - or have your assets suddenly disappear in an off-shore jurisdiction where you have no real control over them.
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    • Profile picture of the author Joe Mobley
      There may be some tax benefits in setting an off-shore business but the primary topic of this thread is asset protection.

      My personal recommendation is that you operate your business in a legal manor regardless of where you have established that business.

      Although asset protection is a high priority for me, prison avoidance is even higher.

      Joe Mobley

      Originally Posted by Thomas Michal View Post

      "Legally" you still have to pay taxes.
      Originally Posted by MarketingManUK View Post

      And don't forget at some point if you want to spend your money you're going to need to bring it back on-shore - at which point its subject to tax.
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