07 Mar 10 Moving my Internet Business Offshore

When I started my hosting company I didn’t research much about book-keeping and how essential it is to plan for the company’s future. I didn’t inform myself much about tax either and after a few months of steadily expanding my company I reached a point where I had to face both issues.

I made some research and at the end made the decision to deal with taxation and accounting in a way that many of my business partners didn’t even think of: Moving my online business offshore.

You think that might sound a bit dodgy and more like an adventure to some of you, but today after everything is done I can say that it was definately the best business plans I’ve ever made.

Stateside Finance helped me forming the tax free company and opening a merchant account with a respected and well-known financial institution in an offshore jurisdiction. Now, when most people hear offshore tax haven they instantly think of tax evasion and money laundering but have few information about how many advantages an offshore tax haven really has to offer.

Practically bank, insurance, international institution and even governments run companies in offshore jurisdictions. Mainly for tax purposes but also to conduct business internationally in a simple and confidental way.

I incorporated my company in the British Virgin Islands for under $1900 and moved the company offshore. Stateside Finance guided me through the whole incorporation and believe it or not I didn’t even had to leave my office home.

Today I don’t have to think about taxes or accounting or even company liability; moving my company offshore solved all these head aches once and for all.