Quote Originally Posted by Chilihost
as far as I read it, its all about your "primary place of business" so if you setup in Canada and do your business from there then you are set. But if you still do the majority of your business within the USA then its irrelevant if you setup in Canada.

cheers,
Luke

Ok..now we have a couple of schools of thought here:

1)As a U.S. Citizien, if your primary place of biz is out of the U.S.A., these regs don't apply to you.
2)If you are a US citizen, it doesn't matter WHERE you do your biz, you're still subject to these regs.

I've been under the impression that #2 is the "correct" answer, and I know we are not lawyers, but anyone want to weigh in here with an exact quote from the regs that will support or deny either of the above?