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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Business Law
Satisfied Customers: 1611
Experience:  Run my own successful business/contract law practice.
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I have a question regarding the transfer of assets from a

Customer Question

I have a question regarding the transfer of assets from a U.S. based LLC to an offshore IBC. I'm a game developer with 20 apps in the iOS App Store, and I'd like to transfer some of these apps into the new company. Each of them has no Copyright or Trademarks, and I'm really wondering if they're even considered Assets?
Submitted: 1 year ago via Cornell Legal Info Institute.
Category: Business Law
Customer: replied 1 year ago.
I'm concerned about the transfer of my profitable iOS Games (Assets) into the Apple Developer Account associated with my Offshore Company. These profitable apps have no Trademarks, Copyrights or website domains. Apple Inc. does not send out 1099s for their Developers. It’s our responsibility to report the sales of our apps, but we are not required to list the apps individually on our returns (only the Account total). 90% of my revenue comes through two ad networks; Chartboost and Applovin. These two companies send out a 1099 for their clients, but they don't list the individual apps that are registered in my accounts. Aside from the simple transfers conducted within iTunes Connect for the apps themselves, transferring the apps within the ad networks is impossible. It’s just a matter of replacing the old App ID’s with the new ones, and the games will automatically show up in the new accounts by default - No actual transfers are conducted by the Ad Networks. Should I have anything to worry about when transferring the apps between accounts?
Customer: replied 1 year ago.
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Customer: replied 1 year ago.
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Expert:  socrateaser replied 1 year ago.

Hello,

I'm not sure what you mean about "worry about." There are always potential tax issues with operating an offshore business. It really depends on your goal. If you would like to discuss this matter offline, I will be happy to do so, however, I cannot initiate contact with you until we formalize an attorney client relationship. I will send you an additional services offer, and you may accept or decline at your convenience (customary legal services fees will apply).

Thanks for using Justanswer!

Customer: replied 1 year ago.
Thanks for the reply. I'll be speaking with Apple, Inc directly tomorrow, and if they're unable to answer the question, I'll consider accepting your offer.
Expert:  socrateaser replied 1 year ago.

I understand entirely. No sales pitch here. Best wishes.