Hey guys, I need a concrete solution, as I'm on the verge of starting 2 new businesses. If you DONT know what you're talking about from PERSONAL experience, please dont post as it'll only confuse me. Experienced sellers only please, US citizens abroad preferred.

I'm a US citizen, living in China/Hong Kong.

I'm on the verge of starting a clothing business which is DEFINITELY going to make a lot of money. (I've got a thread somewhere else about it, in addition to the legit clothes, theres also possibility of knock offs/ real ones as well, but EXTREMELY risky). Also, I'm going to be inventing a product that may revolutionize this particular industry.

This other business, is online goods. It interacts with a hugely popular software, and there's a high possibility of getting sued.

I have 2 bank accounts set up in Hong Kong in a friend's name (Chinese PRC citizen), and that's all I have right now.

I could open up a legit paypal for both bank accounts, but that seems like a road to disaster...

The legit clothes business (not knockoffs, but high quality originals which is totally legal), I want to avoid IRS or taxes of any kind. Vote Ron Paul in 2012. We are not our governments slaves, and I dont live in the US I should not be paying taxes, esp when most of it goes to interest on the debt created by a corrupt federal reserve system... anyway, so tax avoidance.

Second, the POTENTIAL under the ground highly risky knockoff/real goods aspect of it, where we can get A-grade knockoffs (called A huo), or the ACTUAL product, say Coach, makes 140 and theyve got some material left, some is made under the table, this is called "yuandan".

The third thing, the online virtual goods stuff. Its both tax avoidance, AND not getting sued. This is not a cheating customers thing, in fact NONE of it... think about it more like a ton of Napster stuff, where the downloaders get what they want at the expense of the big company, but the risk from the big company, and the IRS, is huge.

Lastly, this "revolutionizing" this particular industry... if you had an idea for a product, and you knew it was goin to make a ton of money, what would you do to isolate yourself from it as much as possible (set up companies, LLCs, trusts, what), so that you could make a ton of money from it, but have it have very little connection to you, and even if the connection was discovered, none of it would be recoverable.

If you can prove to me you're an expert in this stuff I'd be willing to work out some kinda partnership, to be honest more than anything I need a rich friend, because that's what I'm going to be soon.

This is all launching right NOW. We have all the products (no fakes or yuandan, tho like i said thats an option), and the ONLY thing stopping us is me figuring out how to protect myself for all the money we're gonna make. This online thing with the getting sued risk, this is also only a couple months away from starting, and things are moving right along.

I need a complete, anonymous, merchant solution, that I can accept payments from the global masses with, and change quickly as necessary, and continue selling just as quickly.

Sorry to be so vague, this site is a Godsend, I've probably aged 2 years the last 2 weeks just stressing out about what to do. The money is there to be made... my anxiety is actually making it.

Please send me PMs if youre a potential friend for life with this kinda stuff.

I am not an us citizen - so you have to pay US taxes when you do businnes in china?

Is it correct that you DONT want to pay the US but china taxes?

peace

Originally Posted by Gorush

I am not an us citizen - so you have to pay US taxes when you do businnes in china?

Is it correct that you DONT want to pay the US but china taxes?

peace

Remember, Hong Kong and China are *VERY* different btw. Hong Kong is more a free, libertarian-leaning society, though its corrupting more and more with influence from Beijing since the takeover in 97.

But yeah, I'd rather avoid the whole tax thing altogether, the more anonymous the better, the less "in the spotlight" the better... I only have a US passport (though I'm looking into another one atm and there's a good chance I'll be able to get an EU citizenship), not to mention I'm just in HK/China on tourist visas, and not there that long each time. "Permanent Traveler" or "PT" so to speak...

"Also, I'm going to be inventing a product that may revolutionize this particular industry."

Anyone else's imagination going wild with clothing hybrids? Pant-shirts, sock-ties, and the underwear jacket.

Originally Posted by englandrm

"Also, I'm going to be inventing a product that may revolutionize this particular industry."

Anyone else's imagination going wild with clothing hybrids? Pant-shirts, sock-ties, and the underwear jacket.

lol

Wish I could give more details... I will say it/they resemble an inflatable life vest used if an airplane was crashing but in a rainbow assortment of colors, with a French frayed twist on the inflation-string. Think Air Force One meets Pretty Woman. Now you see why I'm so stressed...its going to be an overnight sensation!

OP is taking the BS Ron Paul talks about as a permission too avoid taxes.


Regarding the merchant's solution, you could just use an offshore (saint kitts and nevitts etc.) payment processor.

Originally Posted by sciter

OP is taking the BS Ron Paul talks about as a permission too avoid taxes.


Regarding the merchant's solution, you could just use an offshore (saint kitts and nevitts etc.) payment processor.

Ron Paul does not talk BS, he talks truth. Also, you seem to be fully ignorant of Ron Paul and the tax law because 1-Ron Paul believes we should change the system through legal means, and 2-Your implication that my wanting to avoid taxes is based on some legal loophole rather than a strong moral objection is totally wrong.

Regarding the merchant solution, thanks, do you have any specifics? This seems like it might work but I don't know where to start... all I know is Paypal.

Just google for offshore merchant account - there are several providers, usually you get a corporation, bank account, and merchant account in some Caribbean nation (often Saint Kitts and Nevis) for US$1,000-2,000 to start and under US$1,000 each year thereafter. The providers take care of most or all legal requirements on your behalf.

Originally Posted by Gorush

I am not an us citizen - so you have to pay US taxes when you do businnes in china?

From what I've gathered, all US citizens MUST declare ALL their income to the IRS, no matter where in the world it's generated. Paying taxes is a whole different matter, though, as there are double taxation treaties between most countries and in such cases, you will pay your taxes in the country where you're doing business and not in US, however you still need to declare your income in the States (in addition to the country that you're doing business in).

Disclaimer: There's a chance that the above isn't 100% accurate. I'm luckily not a US citizen so haven't looked too deep into this.

Just use the “Double Irish” and the “Dutch Sandwich” no need for something fancy with a few $ thousands you get to pay 1% in taxes for ever

Originally Posted by ADHD-Dude

Just use the “Double Irish” and the “Dutch Sandwich” no need for something fancy with a few $ thousands you get to pay 1% in taxes for ever

Yea just read about this, might come into use ASAP

Originally Posted by kideze

Yea just read about this, might come into use ASAP

Would you mind sharing your ressources with us?

Originally Posted by Black.Star

Would you mind sharing your ressources with us?

My pleasure

http://www.bloomberg.com/news/2010-1...loopholes.html

Originally Posted by ADHD-Dude

Just use the “Double Irish” and the “Dutch Sandwich” no need for something fancy with a few $ thousands you get to pay 1% in taxes for ever

Very interesting.... however, notice how all the companies that use this are MASSIVE companies who could NEVER hide their assets. Really appreciate the tip tho, I think since I don't ever plan on being that rich nor would I want to, I'll keep looking at other offshore options which put me off the radar entirely.

While I have never been to HK so I have no idea how hard it would be but it seems to me that it would be much easier to start a HK corporation and just pay yourself a small salary. That way the only US taxes owed would be on your small salary. Hell we do that living in the US without any issues and the IRS would have no idea that you own the HK corp.