How to Leverage Offshore E-Commerce in Your Existing Business
The Q Wealth Report
25 July, 2008
Of course, if you dont have to start from zero, you have an advantage. But, I hear you saying, my existing business cant use e-commerce.
Well, you would be surprised. Maybe, by thinking outside the box, you really can adapt your existing business and expertise to an offshore, e-commerce model - giving you the freedom to live where you choose, on your terms, while legally paying almost zero tax!
Let me give you an example of how offshore e-commerce applies in real life to the hotel business, which on the face of it seems about the most static kind of bricks and mortar business. After all, you cant move buildings offshore!
My friend Billy, a French-Canadian, is in the hotel business. He takes bookings and collects credit card payments through a website hosted in Panama for his chain of boutique hotels in the Caribbean. Most clients probably dont even know he is offshore, since their credit cards are charged in US dollars and they dont read the small print on the contract.
After making payment, they print out a voucher which they take to the hotel as payment for the stay. The hotel operating companies then bill the Panama company, which pays the hotel. All the profit stays offshore, tax-free in Panama. Billy runs the entire operation from an office in Buenos Aires, Argentina where he likes to live. Since neither Argentina nor Panama tax foreign-sourced income, and Billy is non-resident as far as Revenue Canada are concerned, he pays no income nor corporation tax anywhere.
Of course, if he gets bored in Buenos Aires, he can travel anywhere in the world and still run his business from anywhere with an internet connection.
If you give the matter some more thought, you will see how this concept can be applied to any business. Both products and services can be sold online. Often its just a question of intermediation.
Other offshore, e-commerce people are better described as telecommuters, selling their skills and services in the global online marketplace. Any job where you spend most of the day sitting in front of a computer can fairly easily be outsourced to any place on earth with a reliable internet connection.
Thats why I love offshore e-commerce. I have quite a number of clients who are already doing this. Would you like to join them? If so, the place to start is www.qwealthreport.com Or email me directly.
Look forward to more blog entries about Freedom, Wealth and Privacy. I hope you enjoy them and that you can use the information here to benefit your business and your life. In turn I would much appreciate your feedback, comments and questions. I can be contacted via email@example.com.
Peter Macfarlane is joint editor of The Q Wealth Report an established newsletter dedicated to informing readers about creating, protecting and growing wealth in a secure offshore environment. It also covers international living, banking, retiring and investing. Visit www.QWealthReport.com to see more.
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