For those of you based in the U.S., have you considered incorporating outside of the United States? With the witchhunt against adult entertainment, I'm wondering if that might be a wise thing to do.
For those of you based in the U.S., have you considered incorporating outside of the United States? With the witchhunt against adult entertainment, I'm wondering if that might be a wise thing to do.
The problem you are going to encounter is the same one I have and am encountering.
Countries like America, Canada and England it is relatively simple to incorporate. But sadly, none of them appear to be able to afford you much protection against the Witch Hunt USA. This is because they are pretty much in Bush's back pockett.
So that leaves countries like France, Denmark, etc.
But they have residency laws, etc.
In France it will take me a MINIMUM of 10 weeks to incorporate and thousands of euros. And this is with the help of an attorney.
It still won't help you get a back account or any other perks.
I don't care how much you bitch about America. I have to say this for it. America and Americans know how to do business!!! It is my favourite nation to work with. (I just don't necessarily want to live there.)
Now if there is a great country out there that I can just log on to a website, drop my credit card number and be incorporated and have a bank account. Please tell me!
I think most Canadians would beg to differ with you about being "in Bush's back pocket". Even if it were true, it is still a sovereign country. U.S. laws don't apply in Canada and vice versa.
Incorporating offshore is easy and can be done with about $1000 and within a weeks time. However, incorporating offshore will not necessarily protect you from things like 2257 regs since your primary place of business would still be your home or work address location.
cheers,
Luke
Unfortunately, it's not only 2257 regs that we have to be concerned about now that the Department Of Justice has enlisted the FBI to go after all types of adult entertainment. (http://www.washingtonpost.com/wp-dyn...091901570.html)
In their eyes, all sexual entertainment is "obscene", and is therefore a potential target for prosecution.
Originally Posted by MisterMark
Yeah..that's going to be really effective.
Especially with all the pissed off agents.
Another argument for incorporating outside of the U.S.:
Why continue sending tax dollars to an administration who uses part of that revenue to destroy adult entertainment?
I'd say that incorporating outside of your country is not a cure all for the problems of 2257 or any other related issues. I'd also say it doesn't negate your obligation to pay US taxes but I am not an accountant and so not meant as fiscal gospel nor am I lawyer either so not legal advice. But i would tend to think that unless you have a really good income that foreign incorporation is not worth the cost. Many countries require foreign companies to have local representation and you do become subject to their laws as well, so I'd want to know what they were before incorporating anywhere else.
As to Canada being in bush's pocket. Getting tired of that, almost would be like all Canadians thinking that all Americans are Republicans simply cuz Bush is your President.
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No, it doesn't negate an obligation to pay personal income taxes if you live in the U.S., but a corporation located outside of the U.S. certainly wouldn't have to pay U.S. taxes.
Instead of incorporating out of the USA why not just move out? Any income not earned within Panama is not taxable
cheers,
Luke
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