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I'm planing to move my online service business to US as

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I'm planing to move my...
I'm planing to move my online service business to US as offshore company. And i want to know the legal obligations i may have. also should i be in US in order to open offahore and bank account? And does transfering money from US bank to different account will be a problem?
Submitted: 9 months ago.Category: Business Law
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8/7/2017
Business Lawyer: Damien Bosco, Attorney replied 9 months ago
Damien Bosco
Damien Bosco, Attorney
Category: Business Law
Satisfied Customers: 4,565
Experience: Attorney. Well versed, understanding, friendly
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Hello: My name is ***** ***** I am an attorney. Please give me a moment to review your question. I may ask some questions to clarify issues.

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Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Are you saying you have already incorporated your business in a country outside the US and want to do business in the US?

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Customer reply replied 9 months ago
Hi Damien
Customer reply replied 9 months ago
Thank you for taking my question
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Sure.

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Customer reply replied 9 months ago
My business is an online service
Customer reply replied 9 months ago
It's app and website
Customer reply replied 9 months ago
we didn't launch it yet
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Okay. So do you want to incorporate in the US? Or incorporate outside the US and do business in the US?

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Customer reply replied 9 months ago
I want to do the business outside the US
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Are you in the US?

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Customer reply replied 9 months ago
No
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

I am not quite sure the connection to the US. If you are outside the US and you want to do business outside the US, what is the US connection?

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Customer reply replied 9 months ago
I need my business to be governed by the US law. Because there are alot of copyright and intellectual property matters that is not very much supported in my country
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Okay. So you would want to incorporate in the US. Will anyone be working in the US?

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Customer reply replied 9 months ago
No I don't think so
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Generally, there are no restrictions on foreign ownership of a company formed in the United States. The procedure for a foreign citizen to form a company in the United States is the same as for a US resident. It is not necessary to be a US citizen or to have a green card to own a corporation or limited liability company formed in the United States.

I found a like that answers many of the questions. Would you like me to give it to you?

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Customer reply replied 9 months ago
do i need to come to US to open the offshore company and bank account? Or could it be remotely
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

You may have to come to the US to open the bank account, but not the corporation.

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Customer reply replied 9 months ago
Ok. And should i pay taxes? And am i allowed to transfer the money to outside US without any problem?
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

You will have to pay US taxes on the revenues generated by the US corporation. For transfers of money outside the US, it is possible. Each bank has it own rules or forms you would need to complete.

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Customer reply replied 9 months ago
You mean i have to pay taxes if the revenues was generated from US. But if it comes from outside US there is no taxes
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Current US tax law even taxes moneys generated outside the US. So the corporation would be taxed on all income no matter where it is.

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Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Do you need further assistance?

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Customer reply replied 9 months ago
I found many sites who can register the company
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

That is good. That is the next step.

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Customer reply replied 9 months ago
That there is no taxation for transactions outside US
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

THAT IS INCORRECT. There are different types of taxes. Most U.S. corporate income is subject to a 35% federal tax rate. ... What's more, companies owe U.S. tax on profits they make in the United States and ABROAD, minus whatever foreign tax they've paid

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Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Do you need further assistance?

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Customer reply replied 9 months ago
Could you please explain more on this matter. I'm having hard time to understand.
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

It sounds like you want an extended Q&A. I can send you premium service offer so we can continue with your question.

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Customer reply replied 9 months ago
Ok so could you explain to me you answer on this matter in different way so i can understand it. And then if i need more information we will go to the premium service.
Business Lawyer: Damien Bosco, Attorney replied 9 months ago

If you form a US corporation and that corporation earns money, the profit is taxed no matter where the revenue comes from minus what you paid on the tax in another country. So, the corporation is not double taxed. Either you pay another company's income tax, or the US income tax on money generated by the corporation.

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Business Lawyer: Damien Bosco, Attorney replied 9 months ago

If you need further assistance, let me know. Otherwise, I have been happy to answer all the questions you have had.

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Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Hello again: I have been happy to answer your questions. Please remember to provide a rating between 3 and 5 stars for the services I provided to you. Thank you.

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Business Lawyer: Damien Bosco, Attorney replied 9 months ago

Hello: Just following up. I know my answer was not exactly what you wanted to hear. But it is better to know what is expected in this situation. If you are satisfied with your answer, please provide a positive rating between 3 and 5 stars for the service I provided to you. If you have a follow-up question, just let me know.

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