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Read Tales of a New Member

Discussion in 'Introductions' started by RichieEmeke, Apr 14, 2017.

  1. RichieEmeke

    RichieEmeke Newbie

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    Occupation:
    Data Entry Officer, Project Manager, Blogger
    Location:
    Nigeria
    For weeks now I have been reading as a guest before I decided to make an account with BHW.

    I would confess there is lot of information for anyone to start his/her online money making journey which I believe is all our major goal.

    I want to say thank you BHW and it's members for putting so much effort (time and resources) in building this amazing FORUM. You guys rock.

    One thing that truly touch me to register as a member is to learn more from you guys and also be able to teach others that will come after me.

    Secondly, 97℅ of the information here seems to target First tier countries, (don't get me wrong) they are a lot of information here but it is kinda hard for those in third world countries to make us of them. Most sites do not accept 3rd countries or it does not work at all.

    Although, they are ways to register and run those programs as first tier countries like US, UK and Europe etc but they will always be a catch at the end and my "Faith/Beleive" (Not religiously but Honesty and Trustworthy) do not allow me to earn with a "lying tongue" which using IP to mask my location is all about.

    I am from Nigeria and without mimicking word our reputation online is far more on the "Red Alert" which makes it very hard to earn online or Register on sites that can make you earn online couple with the fact that most of my Compatriot don't transact online.

    I hope to leave the shores of the country someday and be able to benefit from the millions of idea online someday but it won't be easy too but before then, I want to ask a question to you the good members of this great forum.

    What do you think or suggest that someone from Nigeria can do legally to earn online considering the status quo of the country?

    Mod please pardon me if I broke any rule, just correct and point me in the right direction as I am still a Baby learning how to crawl.

    A million thanks for devoting your Precious time to read my long epistle.
     
  2. cibbia

    cibbia Jr. VIP Jr. VIP

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    Hey good luck with it and I hope you get some decent profits. It must be really hard online ur kindo shunned for dodgy scams. If you really do need to atleast seem as tho ur somewhere else then can't you just open a company in another country and trade from it? ;)
     
  3. RichieEmeke

    RichieEmeke Newbie

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    @cibbia, yea that's cool but it's not easy to start up a company n another country. Thanks for reading my post
     
  4. sturose

    sturose Jr. VIP Jr. VIP

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    Right behind you!
    You don't need to start a company in another country.

    I won't pretend I know anything about the difficulties you face but if you have an internet connection and the desire to make a change then you're halfway there.

    Have a good read through the My Journey Discussion forum and the Making money section. Find something that you can do without restrictions and start working on it.

    When you get stuck with something just ask in the appropriate section of the forum, we're generally a pretty helpful bunch so someone will offer advice when you're stuck.

    Good luck.
     
    • Thanks Thanks x 1
  5. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Nigeria has a bad rep but I know several Nigerians IRL who are hard working honest people.
    It may be tough for you to start out OP, but as long as you prove yourself trustworthy and honest you will eventually find people to work with/for.
    This is a great community and people are willing to help, just make sure you ask good questions and try to answer them yourself first by researching BHW and Google.
    Good Luck
     
  6. sirmeep

    sirmeep Registered Member

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    You can mask your identity via proxies and improving your written english (read a lot of localized content).

    I travel, and work extensively from developing countries, as the cost of living is cheaper and the women prettier ;). And, I have system setup so that to all external appearances I look to be working from the States.

    Also, international markets are great untapped demographic. Just keep in mind Per Capita GDP * Population size... some markets are far, far better then others.

    If your looking for potential revenue opportunities I would suggest going to a site like Fiver or Upwork and building excel sheet detailing out all the types jobs vs. their hourly income.

    Then rate how difficult it would be for you to develop the needed skills and compete. If your lucky you'll find a skill set that you can sell that you can excel at, and has low/medium level of competitions. From there it's about marketing and being aggressive, with a little help of black hat techniques.
     
  7. RichieEmeke

    RichieEmeke Newbie

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    I joined Upwork and Fiverr too but getting job is next to nothing as they check location too.
     
  8. RichieEmeke

    RichieEmeke Newbie

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    Thanks, reading that now
     
  9. cibbia

    cibbia Jr. VIP Jr. VIP

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    This is from a company formation site they seem to charge from about $50 to $150 to get setup. There is loads of these type companies for most country's.

    Hope this is useful to you :)


    Non-U.S. Delaware Corporation
    How do I form a Delaware LLC or Delaware Corporation if I am not a U.S. citizen?
    Neither US citizenship nor residency are requirements for forming a Delaware LLC or Delaware corporation. You can start a business in Delaware from anywhere in the world.

    In fact, many of our clients are not living in America.

    We do not charge foreigners more money for filings, however, we would encourage you to review our resources section to make the whole process easier for you, specifically checking our Delaware LLC and Delaware Corporation pages.

    Steps to Starting a Non-U.S. LLC or Corporation in Delaware
    In Delaware, an LLC or Corporation is formed with the Delaware Division of Corporations. That will be referred to as your “domestic state.” Your business will be considered a “foreign entity” in states outside your domestic state (America has 50 different states and a couple extra jurisdictions).

    The process for starting a business in Delaware is nearly the same process that a US citizen would go through:

    1. Name the Company
      Find a name for your business by performing a name search on the Division of Corporation’s website. Once you’ve found an available name, you are NOT required to reserve it. The name will automatically belong to your business entity once Delaware has recorded your company’s LLC or corporation filing.

    2. Hire a Delaware Registered Agent
      Delaware registered agents receive all official mail and service of process on behalf of your Delaware company. You must maintain a Delaware registered agent, which is what we do for $45 a year, to keep the Delaware company in good standing. They are required by law and must maintain a physical address and keep regular business hours in the state, which, since you do not live in the United States, are requirements you cannot meet. This is a necessary expense and you’ll need the registered agent’s name and address to complete the formation paperwork in the next step. You could try to list a relative or friend as your registered agent, but doing so might involve this person into your personal business notifications and put an unneeded burden on them to legally accept your legal documents.

    3. File Certificate of Incorporation or Certificate of Organization
      The name of the formation document will depend on what type of entity you are forming. Certificates of Incorporation are for corporations. Certificates of Organization are for Limited Liability Companies (LLCs). There are two ways to file these documents with the Delaware Division of Corporations: by mail or by fax. Delaware does not offer online filings, although you can sign up with us online and we’ll file your Delaware LLC or corporation for you.

      Many foreigners choose a corporation because it aligns better with your home country’s rules and regulations. Also it is defaulted to a C corporation which is how you’ll have to pay your taxes to the IRS should you owe IRS taxes on income you derive from the U.S.

    4. Obtain an EIN
      In order to file and pay taxes in the United States, your Delaware company will need to obtain Employer Identification number (EIN). After the state sends verification that your articles of organization (for Delaware LLCs) or articles of incorporation (for Delaware corporations) have been processed, you can apply for an EIN by filing Form SS-4 with the Internal Revenue Service (IRS). The IRS accepts EIN applications online, by phone, or by mail. The form is one page and comes with plenty of instructions.
    Differences between a Delaware LLC and a Delaware Corporation
    If you choose a Delaware LLC, your ownership of the company is in the form of membership interests. The members are the owners of the Delaware LLC.

    If you choose a Delaware corporation, your ownership of the company is in the form of shareholder stocks. These stock certificates do not need to be physically made. They can just be documented on paper as to how many each shareholder owns. The shareholders elect the directors of the corporation. The directors elect the officers such as president, treasurer, and secretary of the corporation. If you are doing a Delaware corporation, we ask you for all this information, and as the incorporator, we elect the directors and officers on your behalf, and you sign the corporate bylaws as the shareholders.

    Maintenance
    In order to keep your business entity active, you will need to file an annual report and pay a franchise tax to the Delaware Division of Corporations if you operate a corporation; LLCs only need to pay an annual tax of $300. Annual reports and Delaware Corporate Franchise Taxes (a minimum of $175) are due each year by March 1; the LLC tax of $300 is due each year by June 1.

    Opening a bank account
    One of the most commonly asked questions about forming a business in the United States from abroad is how to open a business bank account. Opening a U.S. bank account is difficult if you are not here. Most people that go to that much effort actually have to fly into the U.S. and physically walk into a branch. We recommend Wilmington Trust, HSBC, Wells Fargo, U.S. Bank, Chase, or Citibank. Wells Fargo banks in Las Vegas are particularly versed in setting up bank accounts for non-U.S. residents. A business bank account in the U.S. does not need to be “Started” in the state of your formation. We do not assist in setting up U.S. bank accounts. Frankly, no one can really help you do that very well. You will have all the legal documents relating to the formation of your Delaware company that you will need to set up a bank account, in your online account, at all times. You can read more about this: Setting up a bank account in Delaware.

    Business owners also run into trouble trying to open an account in their own country for a foreign business. If your country is part of the Hague Convention, you will need an apostille (official certification of your business formation documents).

    Paying US taxes as a Nonresident
    Non-US citizens cannot be shareholders in an S corp, so this limits your taxable business entity choices. Mostly, non-US residents will choose between LLCs and corporations taxed as C-corps.

    If you form a corporation in Delaware, your corporation will be taxed as like any other US corporation. The corporation will pay the same taxes that any other US corporation would on all US-sourced income and your Delaware corporation would also be taxed on all foreign earnings, in accordance with US Treasury regulations. Since the corporation was formed in the United States, it is taxed as a domestic corporation and you will file Form 1120.

    As a non-US resident, your Delaware LLC will only be taxed in the US on income from US sources, meaning that income from other countries will not be taxed by the US. If you choose to form an LLC, any profits US-sourced income will be taxed by 30%. This 30% goes to the IRS. At the end of the year, you will file your US taxes on Form 1040-NR with the actual amount due. If the amount due is less than the 30% initially taxed, the IRS will issue a refund in the amount overpaid. To make sure the LLC is sending the proper amount to the IRS, the LLC must designate a tax withholding agent to calculate the proper amount that must be sent to the IRS before any of the money is released. Because of these difficulties, many non-US residents choose to form corporations, unless they are forming the LLC to do business strictly outside of the US, in which case, the LLC would not owe any US taxes.

    Helpful Tips for US Non-residents Starting a Business in Delaware
    1. With a Delaware LLC or Delaware corporation, you only need one person. There is no need for multiple people.
    2. There is no need to pay a company a high fee for nominee service.
    3. You get a federal tax ID yourself, or you can hire us to do it for you at the bottom of our sign up form.
    4. If you need an apostile, you can add that at the bottom of our sign up form.
    5. Most people do NOT need a corporate book and seal. If you ask us, it’s a waste of your money. But if you want one, you can add that to your order at the bottom of the sign up form.