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LLC or INC ?? Your suggestion is very important to me, Please help me out..! (6)

02-22-2013 01:59 PM #1 dinesh1625 (Member)
LLC or INC ?? Your suggestion is very important to me, Please help me out..!

As Sean (naesm) showed me a way to end CC problems,

Many of my friends knows that I got early success with out any spy tools, trackers, Landers etc... I earned 5.5k in three weeks, Now I am staying calm from almost 1 n half week because of CC problems...Naesm insisted me to register LLC or INC to get business accounts which ends CC problems.

I am from India, Can I register my company in this website https://www.mynewcompany.com ??

If I can, Which is better in terms of tax liabilities etc.. LLC or INC ??

else you suggest me any other ways ??

Waiting for your reply,
Dinesh.

02-22-2013 08:55 PM #2 zeno (Administrator)

I'm not sure if making a US-based LLC is going to get you very far... Mainly because you still need a US bank to give you/the company an account and credit cards, and banks aren't stupid - they are unlikely to just throw credit cards at anyone who has an LLC in the states, considering you can make them for ~$150. You'd probably need to a) turn up in person or something like that or b) have a decent some of money to drop in the account to make it worth their while. I'm no expert in this area but I'd think in your position you will find more success with an India-based solution.

Re: tax liabilities, talk to someone qualified to tell you about Indian tax laws. Most countries let you consult for free with tax advisors from w/e government agency is in charge of that (e.g. IRD/IRS).

02-23-2013 02:48 AM #3 doryphoros (Member)

It's been said over and over again, and it's the only advice you'll need.

Nobody here is in the same tax situation as you. Go talk to a tax professional.

02-24-2013 07:51 PM #4 naesm (Member)

Quote Originally Posted by doryphoros View Post
It's been said over and over again, and it's the only advice you'll need.

Nobody here is in the same tax situation as you. Go talk to a tax professional.
Of course they are. Other Indian AMs building online businesses by themselves not producing a lot of revenue (yet) looking to advertise on Facebook that can't get a CC to process. I would think that would be 1000s of people in this exact same situation and probably a few on STM.

02-24-2013 08:10 PM #5 naesm (Member)

Quote Originally Posted by zeno View Post
I'm not sure if making a US-based LLC is going to get you very far... Mainly because you still need a US bank to give you/the company an account and credit cards, and banks aren't stupid - they are unlikely to just throw credit cards at anyone who has an LLC in the states, considering you can make them for ~$150. You'd probably need to a) turn up in person or something like that or b) have a decent some of money to drop in the account to make it worth their while. I'm no expert in this area but I'd think in your position you will find more success with an India-based solution.

Re: tax liabilities, talk to someone qualified to tell you about Indian tax laws. Most countries let you consult for free with tax advisors from w/e government agency is in charge of that (e.g. IRD/IRS).
He would not be asking for credit cards. He would be asking for debit cards from a simple checking account and they are given out like candy for free with almost no deposit requirements just ask the millions and millions of illegal immigrants in the US.

I have opened many personal checking accounts without showing any identification with a short form and my social security number online and never stepped foot inside a brick and mortar building. Obviously he doesn't have a SSN and we are talking about business accounts.

Of course this can all be done, the question is, is it worth the expense, trouble, and hassle. Not sure yet, for me yes it's worth it because I am a US citizen and it's easy, for him who knows. There may be a much easier online card provider that will work.

Questions:
1: Is it possible for non US citizens to register LLCs or S-corps. The answer is definitely.
2: Can they (foreigners) then get checking accounts setup up easily. Usually you need your articles of organization to open an account simply print these from the states SOS (secretary of state) office. But is there someone in the US that could do this on his behalf. Similar to a registered agent like they use for Delaware, Wyoming, and Nevada corps to maintain anonymity. Again this could all be a huge pain in the ass and totally not worth it. But if one person says "hey yea I did it, opened a LLC for $50 in Colorado and then opened a checking account for free with xyz checking account at xyz bank," that's not so difficult.
3: Recommendations of a better solution to get CCs for non US citizens and especially ones in high fraud activity countries.

ANTI-DISCLAIMER: No I will not put some BS disclaimer about not being a tax professional on this post. It's ridiculous, try to sue me

02-25-2013 01:29 AM #6 digitala (Member)

LLC = easier to manage. S Corp = More work but potentially better tax wise.

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