Offshore Company / CC

[Killah]

If somebody is interested in this subject (how to setup a company / get an offshore-bank account), send me an email. We finally found a good solution for this stuff.

the@killah.com

[Jonathan Craig]

So have we.

Corporate registration along with corporate bank account and corporate credit card(s) is available in Bahamas and on the Island of Aruba. We do not offer services for Belize since it's a bit unstable.

Interested, just contact Felix at ICQ#14955667. He has the details.

We'll also be launching a larger service aimed towards adult webmasters :-) I'll post the url in the spam board when it's up.

-John

[mukoh]

For US webmasters this is not a good solution.

IRS now has all the records of all transactions with offshore banks done inside US. The only country that has refused and told IRS to take it up the butt is BELIZE.

[Labret]

I would like to second that comment on Belize. They are one of very few countries who had the balls to tell the IRS and Visa to fuck themselves. Their corporations (IBC's) have withstood SEVERAL attempts by the SEC to disclose records, and have beaten them every single time.

[redbomb]

How about Canada, has it followed the US?

[mukoh]

redbomb, if you stay under $100k-150k in deposits to your account in canada you will be fine.

[Due]

I can get you setup for FREE
Just mail me your CC no# and I promise you no one will be able to find your money http://bbs.adultwebmasterinfo.com/ubb/wink.gif
mail to cc@mdue.dk

[Ron]

Maybe check these guys out. http://www.off-shore.tv/

I just got an account with them! It's free and it's off shore http://bbs.adultwebmasterinfo.com/ubb/biggrin.gif

[Rich]

Antigua is nice as well, their policy is to not disclose any information unless it contitutes a crime in their country... which, if my memory serves me right, NOT reporting your income to a different country in not a crime there.. Unless things have changed since the whole Rhino witchhunt...

Rich

[quotealex]

Just a dumb question to ask?

What can an offshore-bank account do for a webmaster that makes less than $50,000 with his porn sites and reside in a country where porn is legal?

Is an offshore account used only to avoid paying taxes? and what happen if the bank steal all my money?

[mukoh]

Ron
anything free or cheap when it comes to something as serious as this, is not worth it even if they pay me. You get what you pay for

[quotealex]

One more thing.

What sort of interest rate offshore-bank account pay?

[basschick]

just a quick reminder to u.s. webmasters - if you spend $50,000 a year (or more) and claim virtually no income, eventually you are going to have problems.

you can hide your income, but when you pay $2000 a month at the grocery store, $1000 a month rent, buy and insure a nicer car, you need to explain where that money came from!

[Killah]

Just to make something clear:
Offshore means NOT to hide your income or do other illegal things. You have to pay your taxes in the country where you live most of the year. If you don't pay them, you act illegal.

[Dan S]

What for is it then?

If it is only for higher interests why should I build a company in a county I do not know?

I can easily get good interests at banks all over the world...

So why build an offshore company other than hiding money?

Dan

[Jonathan Craig]

That is a matter of opinion, Killah. Offshore is in fact just the thing for "hiding" money and income.

Or offshore can be useful for your company if for example gambling is illegal in your country. That way, you can putup your gambling company abroad and later take the money into your country and pay taxes for it.

I mean, there is a wide variety of areas you can use offshore for, but one the reasons is certainly to "store" money. No matter what other people say.

And a large part of the offshore accounts are used for "laundry".

The company I work for, for example, brings in all the cash we earn through a variety of offshore accounts, and then through a special insurance trust.

We pay close to nothing in taxes. Less than 1%. Not suggested to even look into unless you earn $50,000k+ (at least).

Hey Dan.. you're in Germany aren't you? This would work nicely in Germany actually. Contact Felix on #14955667 and he'll help you out.

http://bbs.adultwebmasterinfo.com/ubb/biggrin.gif

[Killah]

If you want to stay anonymous for some reasons, register domains under a company name, then offshore is the way to go.
If you are looking for a way to hide your cash and not pay taxes for it, which is illegal, good luck.
It's up to the customer if he is so honest to pay his taxes for the money he made or if he doesn't report his income, which is possible with an offshore account.
I feel better by paying my taxes, but as I said, it's up to yourself.

[playa]

basschick is right,,,,,IRS looks for stuff like that,,,,,

just do the right thing and Pay uncle sam his 32%

you'll be happy and safe

[Dan S]

I would be fucking freaky happy with 32% http://bbs.adultwebmasterinfo.com/ubb/frown.gif

[diesel]

It depends on country...i would happy to pay my taxes...but shit...its pain in ass...
first of all i must pay 50% from my income
second i must report once per year to tax agent about every shit i bought private for
me for past year..if i loose some bill about some TV that i bought..they will sue me

[gse]

$100k and up and you are in a higher tax brackets. 45-50% which totally sucks.
Another thing all this irs fucking rules, such as depreciation on the property and shit, they can get you for anything if they want so. Offshore ibc I believe is just to store the money, which is a good precaution. IRS is notorious about confiscating property, bank accounts, etc
To avoid taxation legally, one should make himself ex-patriot, then immigration would want to revoke your US citizenship. So this is no easy equation.

[Killah]

LOL Diesel...
Is it true that they stone you like in Monty Python's Live of the Brian when you do crimes in Israel ? Hehehe...

[quotealex]

If I want to remain anonymous, I can set up a shell company in the USA (ie. Las Vagas) and open a bank account in Canada. Why would I need an offshore account if it's not for tax evasion?

[Rod]

I should maybe get one also...I pay about 53% of all my incomes to tax....damn I give more than I get from my work http://bbs.adultwebmasterinfo.com/ubb/frown.gif

[quotealex]

<font face="Verdana, Arial" size="2">Originally posted by Rod:
I should maybe get one also...I pay about 53% of all my incomes to tax....damn I give more than I get from my work http://bbs.adultwebmasterinfo.com/ubb/frown.gif</font>

Rod, you should replace your accountant http://bbs.adultwebmasterinfo.com/ubb/biggrin.gif You should max your RRSP contribution, open a company, increase your expenses and change your revenues into dividends. then your taxe rate should go down to less than 35%.

[mukoh]

Quotealex,
A shell company, that is established, anonymous, with proper anonymity, will cost you $150k to establish, including all attorney costs, or $450k to buy. One of my partners primary business is selling established shelf companies that are clean.

[quotealex]

What!!! $150K to set up a shell company. My Montreal lawyer said he could do it for less than $12,000 including a bank account with the Harris Trust and Savings Bank and wire transfer to my Canadian bank account.

[mukoh]

quotealex, you get what you pay for with $12k. My partners companies have been running for 10 years now since 1990. Some have gone public on OTC:BB on NASDAQ.

[quotealex]

What exactly will I get for $150K that I don't for $12K?

For $12k I can get a US shell company,a US bank account, wire transfer to Canada and no one will know what type of business the shell company runs.

[mukoh]

If you are looking to conduct serious business with $150k and above level a year, in gross, you need a strong nevada shell, with credit history. I don't know exactly the scope of his shells, and shelf companies, both vary in differences, but i know a friend of mine who just bought a shell from him for $450k who is pissing hot water he is so happy, all the banks will extend loans, and so on and so forth, there is a lot of benefits to it.

[Xrum]

I am afraid some people who live in the US really do not understand how IRS operates. It does not matter where you are trying to hide the money. It is cheaper to simply pay the taxes. The "solution" to shelters that IRS came up with is to have a judge to drop you in jail until you open your shelters.

[quotealex]

Same in Canada. I think, using a shell company is a good idea if you don't want your nosy wife to find out your running a porn site. http://bbs.adultwebmasterinfo.com/ubb/wink.gif

[gse]

please explain what shell company is and why it's so expensive?

thanks

[magnatique]

quote, 12K?

I get shelf companies for 200$ http://bbs.adultwebmasterinfo.com/ubb/smile.gif

maybe not all setup like you though hehe :P

[Scar]

Internet forum is a cool thing. A bit like a news program.
Price of shell company could have been said as well as 2 millions of bucks and noone I see would say a thing.
Really why not?
http://bbs.adultwebmasterinfo.com/ubb/biggrin.gif

[basschick]

first of all, if you're in the u.s., there are a LOT of things you can deduct. if it isn't enough to satisfy you, BUY things you can deduct. i'm not kidding.

second, if you want to establish a nevada corporation, you can do it for $1000 at www.legallady.com (http://www.legallady.com)

[quotealex]

<font face="Verdana, Arial" size="2">Originally posted by magnatique:
quote, 12K?

I get shelf companies for 200$ http://bbs.adultwebmasterinfo.com/ubb/smile.gif

maybe not all setup like you though hehe :P</font>

magnatique,

Where can you get it for $200? I hope it's in Canadian $.

[quotealex]

<font face="Verdana, Arial" size="2">Originally posted by basschick:
...if you want to establish a nevada corporation, you can do it for $1000 at www.legallady.com (http://www.legallady.com)</font>

I had the fealing my lawyer was trying to pull a fast one on me. Thanks for the URL.

[Toni]

I'm very interested in the topic of offshore companies, but I think it isn't easy to choose a good and honest company to set it up. If anybody has any experiences with any companies it would be great to hear about it. Also the prices! This one seems to be a big company: http://www.ocra.com/
Has anyone ever tried them?

[quotealex]

Same here!

I'm also looking to set-up an offshore company but I don't want to pay alot of money for it.

[mukoh]

quotealex.
Never go with the cheapest one. Think about it, this company is going to hold a lot of your money, the cheaper they are, the newer, and less experienced they are. Have to go with the best in this.

When we were in this situation a year ago, we had offers from $800 to $1,200. But we consulted with someone who uses offshores for casinos, and good amount of cash, he paid $2,500 set-up in belize. It looks like a lot. But it all depends if you want quality or cheapness, same as you want AMD or INTEL

[gse]

mukoh
$2,5k for Belize is not a lot. But what is the deal with that $150k or $450k shell company?

[quotealex]

mukoh.

I second gse. I can live with paying $2.5k for an account. But once the account is in place, will I be able to transfer my money to Canadian bank with ease and will my bank manager report me to the authority? Nevada is in US ground but Beleize! Where this place?

[mukoh]

gse, we are talking about two different concepts, i was talking about a shell company, that is public on OTC:BB Nasdaq. You misunderstood.

[mukoh]

quotealex
the thing is if you have an established company,trust, and executives in belize, you get a bank card with a visa logo on it, and you can spend that money anywhere, where they take visa, including car dealers, and so on and so forth. That card has the company name on it from BELIZE.
Thats what you pay for when you set-up. And nowone knows you are with that company exept the executives.
Second thing, my friend had a set-up where if he was anywhere in the world where there is a bank that does business in belize, he would call his, manager in Belize, and have cash wired anywhere in the world. Then he would go and pick it up in 15 minutes.

There are a lot of things which are done with this kind of set-up.

But i no longer use them so don't keep too much track of whats new and whats not.

[Jonathan Craig]

Just for the record..

mukoh.

We can setup a "shell company" (we call it "shelf" company, since it's "off the shelf", i.e you don't get to choose name, but we have a list of names available.), with executives and whatever necessary, get you as many corporate credit cards as you want, merchant account, global wire transfers on demand, you name it, for less than $3,000.

My point is, $450k is bullshit. Only time someone would actually pay that amount if is it was on the stock market, NASDAQ for example. If it isn't, you don't wanna pay more than $5,000. Period.

Don't know how much experience you have with offshore, shelf companies and "front" companies, but I've worked on and off with it for 10 years now.

-John

[gse]

the thing is if you have an established company,trust, and executives in belize, you get a bank card with a visa logo on it, and you can spend that money anywhere, where they
take visa, including car dealers, and so on and so forth. That card has the company
name on it from BELIZE. Thats what you pay for when you set-up. And nowone knows you are with that company exept the executives.
-------------
mukoh, and all this cost just $3k to set up. Did I get it right?

[quotealex]

Is this $3k a one time payment or must I pay every year?

[Scar]

Setup fees are different from yearly fees.
Yearly fees are considerably less.

[quotealex]

Scar.

How much less is the yearly fee?

[Scar]

I guess it always depends on what You have bought and where.

For example normal good prices (means a bit more than a typical company would charge but not top of the top) in Russia per year for a LLC in Nevada are -

650$ for an adress
750$ for support
600$ for nominal director.

I honestly beleive that anywhere else in the world it must be MUCH cheaper.

Think Yourself, if You'd sell offshores in Moscow where a typical buisnessman is scared of his own voice on one hand and knows just one word in english ("hello") on the other hand - how much would YOU overcharge?

[Jonathan Craig]

Besides the initial $3k, there's a $400 yearly fee (approx. It depends on the options you choose.)

[quotealex]

If I understand correctly, for $3k plus $400 per year I get a shelf (or shell) company with a Visa credit card? Also, my wife and in-laws will never be able proof that I run porn sites and know one will know I own this company?

[Jonathan Craig]

That's right.

[mukoh]

gse.
The set-up fee for $3k or less or more in Belize, gets you exactly all that. But you do have to pay some yearly fees, and in order to have the visa/debit card, you have to have a certain minimum in the account, that can vary from place to place.

[mukoh]

Jonathan,
i wasn't talking about a regular shelf company, i was talking about with SEC permission to go to OTC:BB on eiter AMEX, or NASDAQ.

But the issue is that it costs about $150k to open one, but you can sell it for around $450k at least, sometimes more. Or take it public yourself, and make more.

My partner is a specialist in that, he just sold one for $450k to a guy i know.

But a regular shelf no, SEC, no shareholders, is easy, anyone can do it.

[mukoh]

quotealex,
nowone will ever know what you do or where you get the money, as long as nowone sees faxes or reports that the belize company sends you, or see your visa/debit card, or you are too drunk and just mention it.

[gse]

Mukoh,
could you please hit me on icq
#14562798

thanks

[Avatar]

All this talk about offshore is great, but you also really need a sponsor that does not report your income to the I.R.S.

I run a dialerprogram that is located outside the us. Contact me for url.

/Peter
UIN#58556083
webmaster@giantmovies.net

[Jonathan Craig]

Well, thing is, if you didn't know already, the "sponsor" will not report to the IRS.

Know why?

Because their affiliate, namely you, have registered as KingJerk Corporation in BAHAMAS. That makes you a foreign affiliate.
So they only have to report THEIR income to the IRS.

And please, spam in the spam board http://bbs.adultwebmasterinfo.com/ubb/biggrin.gif

[quotealex]

Avatar.

Isn't dialers illegal? Beside, with the FTC prosecuting and monitoring closely dialers programmes, why would we want to join?

Lets get back to offshore account. someone stated that I needed to put a mininum amount in my Visa. Isn't the monthly commissions from my sponsors enough?

[Toni]

Does anybody know Jonathan or Felix and did anybody work with them already regarding offshore companies?

I would start a off shore company right away for $3k if I would be 100% sure I can trust these guys and I won't get ripped off. This is a very serious thing because the whole business should go through this and it’s an extremely big risk IMHO.

[Jonathan Craig]

quotealex, you need a $1,000 initial deposit to establish both bank account and VISA card. You can however use this money after the account/card have been established.

[Jonathan Craig]

And Toni, we just recently started offering offshore services targeted for the adult entertainment industry. So we've hardly dealt much with webmasters at this board regarding offshore.

However, I'm sure someone reputable on the board can vouch for us. If you're still not trusting after that, well, there are always other providers. We're not that greedy http://bbs.adultwebmasterinfo.com/ubb/biggrin.gif

[SID MAN]

Hi Jonathan

I got Felix on my ICQ, but he has never replied about the off shore info he was suppose to have....

[T&T]

Hi guys, I thought I'd jump in and give my IMHO on the subject as I have some experience with it.

First of all, when trying to evade/lower taxes one should find out what risk the particular amount of money one is making construes.
Now, if you are making a smaller sum, say $500/month the risk that the IRS would take any interest in you (especially if you at the same time hold a day-time job or you are a student) is low. In this case perhaps you should look into a simple shelf-company in a resonable stable country coupled to a visa/atm card. For an american to do so, however, is very risky as we all know that sponsors report US citizens income to the IRS... but, wait you say: with an offshore company it's _not_ a US entity so the sponsors won't report it right? Wrong. They might not report it as a standard W8/W9 income thingy, but they do report it anyway. Why? Because if they didn't they can't deduct that expense (paying you a commission) from *their* taxes. This of course only applies to US based sponsors. So in this case it all boils down to if the IRS takes an interest in your Bahamas corp called "American Eagle money laundering services LLC" (just kidding...) If they do, you better hope they can't find out who owns it - sometimes they do (yes, typically offshore havens protect your identity by law, but they typically also have problems with corruption... money has a way of talking you know... ;-)

If you are _not_ a US citizen you are in better shape, just remember that international tax-treatys between the US and many (all?) industrialized nations include a routine exchange of information - why give your sponsor your real name as you will receive income in the company name anyway?

Now, if you are making some serious cash as I'm sure quite a lot of people on this board do, I would go with a more robust and *legal* solution. After all, most i-countrys have laws that does not recognize a company in a "black-listed" country, so if they ever find out you will be held responsible for taxes due. There are, however, alternatives to the worlds tax-free islands, specifically Luxembourg is a good example. Say you set up a LLC in Luxembourg (about $5k anually) that in turn owns a Nevada corp (cheap). The point being that you then can legally only pay federal income tax (Nevada has no state tax), and once that is paid up you can move the money to Luxembourg and have it grow by drawing interest or stock investments there with no taxes due. The problem, of course, is how to re-patriate the money, there are many ways to do this but they are complicated and would require a session with a good international tax-lawyer.

my 2cents...

[Scar]

wouldnt call it 2c really!
http://bbs.adultwebmasterinfo.com/ubb/biggrin.gif

looks like a great post and a shitload of some REAL experience. Heard that some serious people use Leuxembourg too.
Thanks really..

Only thing I doubt (which is funny because I am from Russia and has never ever EVEN been to US, call it commont sense)is that IRS will bribe anyone to get some info about You. Seems very very unlikeable.
I mean how much really should one make to get such a hunt. Dont think it's possible with adult biz (should be I think WELL OVER a million of bucks). All of it is my opinion opinion only of course...

[T&T]

True Scar, it is unlikely that they will resort to such drastic measures unless it's millions of dollars at stake and perhaps some "heavier" criminal stuff like drug trafficing involved. However, bribes are not always "money-exchange-in-a-backalley" type of deal, there are always local individuals or "private investigators" that can do the job for the IRS... which makes the "bribe" a consulting fee in the IRS expense reports... ;-)

[Scar]

yeah I thought so...
http://bbs.adultwebmasterinfo.com/ubb/biggrin.gif

500 bucks same as 50 000 usually dont really make anyone hunt on You unless as You said there's some serious enough crime behind it...

By the way foreigners http://bbs.adultwebmasterinfo.com/ubb/biggrin.gif
Always had a question in my mind and forgot to ask.
Our mass media always exxagurates the numbers they publish when it deals with money and with crime.
For instance like half a year ago russian net news-sites were full of crap about a group of Child Porn webmasters who were sent to prison and according to news EARNED 600 MILLIONS of dollars (which is complete bullshit as we understand)...
And things like that happen like daily here when it comes to numbers in net articles and sometimes on TV (I remember that CP case so good because that time it was simply WAY to much!).

How's USA in this point of view? Does anyone give a check of any sort on published money figures?

[Toni]

Jonathan,

How it's guaranteed that if I make that deal with you I'm a 100% owner of that company with 100% control over everything that has to do with that company. Also I would need some more details about all that. I'm really interested in an offshore company.

[Jonathan Craig]

Well Toni, the papers that you receive from the registration office and the papers you receive from the bank would show that you are the owner and have full control.

[snow]

Jonathan please contact me ICQ-54866383

[Jonathan Craig]

I'm sorry snow, but I don't use ICQ, plus I'm at a conference right now and won't be back at work until Monday afternoon.

I can email you if you'd like.