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Wow...thanks for the feedback again. I am simply charging customers for access to a web app. So no buying or selling or transferring of ownership/title will be
by marcamillion 16y ago
Wow...thanks for the feedback again.
I am simply charging customers for access to a web app. So no buying or selling or transferring of ownership/title will be done.
Think 37signals type pricing model...except that I want to be able to easily access the cash that accrues in my bank account in the US :)
My bank account needs are relatively trivial. Just accepting funds from my merchant account, and doing electronic international wire transfers (which I know a number of financial institutions do, e.g. Bank of America).
So no credit lines, no credit cards, etc....yet.
More than likely, when I am ready for those, I will likely just engage my local bank here.
If my US corporation does the 'selling', i.e. the web app is owned by the US corp, and the US corp is wholly owned by the Jamaican corp, can't I 'expense' a transaction - e.g. licensing fee or something - and leave the US corp with a modest profit and pay the taxes on that?
Is this all worth it? Should I just setup a paypal account to work with my Jamaican credentials, and accept money there and go that route first, then move to the merchant account with US corp after I generate a significant amount of revenues?
Thanks for the help by the way, really appreciate it.
And I know this isn't real 'legal advice' and I will corroborate our discussion with 'advisors', if & when I get them - and you will not be held liable for any stupid things I do :)