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Offshore E-Commerce Development
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Published: August 3, 2007
Offshore e-commerce has many attractive benefits, particularly for the entrepreneur seeking to get their product or service to the global market. There are many service providers and consultants who specialize in helping businesses or entrepreneurs in offshore e-commerce development and in developing an International Business Company or limited offshore company. Also, offshore web-hosting is becoming more affordable and can sometimes compete with local web-hosting fees.
Recent historical developments leading to deterritorialization are responsible for the explosion in offshore e-commerce: the end of the Cold War, the Internet, and globalization. The end of the Cold War opened up new markets and there were both consumers and businesses eager to join the international business community. E-commerce in its traditional localized or national from has gone global. Any consumer can find this phenomenon when perusing the Internet in search of, for example, a rare out of print book. The seller may be an offshore in England while the buyer is in the US. Such transactions are commonplace in globalized e-commerce.
Offshore e-commerce development requires attention to detail and an understanding of the basic tenet of offshore e-commerce. Just as owning an offshore brick and mortar company in the past meant that a company quite literally existed offshore, in another country or location, so is the case with web-hosting an offshore e-business or company. The company's site is associated with a financial institution in one country, but the financial transaction occurs on-line, in the currency of the owner's/owners' choice.
When deciding to bring a service or product to market in offshore e-commerce, choosing a location is an important consideration and often depends on the product or service. The International Business Company model is the most common and apparently the easiest to develop for beginners. Offshore e-commerce in the form of an IBC (or offshore limited company), is the model that has generally been welcomed in many jurisdictions (countries, entities) and has been regarded as having a low tax benefit, or in some cases virtually free from taxation, but the IBC is limited in their capacity to trade locally.
Most jurisdictions do have some regulations and fees associated with hosting offshore e-commerce. Regulations are tighter for some industries than others, particularly for financial institutions or banking operations, for obvious reasons. No country wants to be accused of hosting a money-laundering operation for a criminal network. It is wise to seek consultation on which jurisdiction is most appropriate and what protocols exist there, including what forms need to be filed. In some cases, forms and company descriptions need to be in the jurisdictions language.
Aside from finding the right jurisdiction for web-hosting an off-shore e-commerce business or company, there are three other areas where consultants can be essential: accounting, legal, and financial services. The right accounting service can assure the best tax situation through basic statutory accounting, corporate accounting and Internet -driven accounting. Financial services are banks or financial institutions with specific expertise in offshore e-commerce. Legal services can provide a blooming e-business with important advice about the regulations of jurisdictions as well as international regulations. Some legal services have forms that offshore e-commerce IBC's need to file with jurisdictions, which can be a daunting task for any start-up with limited knowledge about a jurisdiction and its policies regulating offshore e-commerce.
Sources:
Offshore eCommerce and Webhosting. Offshorebiz.com. 12 July 2007. http://www.offshorebiz.com/offshore-ecommerce-and- webhosting.html
Offshore E-commerce Fact File. Offshore-E-com.com. 1999-2006. The Lowtax Network. 12 July 2007. http://www.offshore-e-com.com/html/factfile.htm.l< br />
Offshore Professional and Financial Services, Offshore Company Formation. Offshore- E-com.com. 1999-2006. The Lowtax Network. 1 Aug. 2007. http://www.offshore-e-com.com/html/ecompco.htmlOff shore
Offshore Professional and Financial Services, Accountancy Services. Offshore- E-com.com. 1999-2006. The Lowtax Network. 1 Aug. 2007 http://www.offshore-e-com.com/html/ecompacc.html
Offshore Professional and Financial Services, Financial Services. Offshore-E-com.com. 1999-2006. The Lowtax Network. 1 Aug. 2007. http://www.offshore-e-com.com/html/ecompfin.html.< br />
Offshore Professional and Financial Services, Legal Services. Offshore-E-com.com. 1999-2006. The Lowtax Network. 1 Aug. 2007. http://www.offshore-e-com.com/html/ecompleg.html.< br />
Müller, Rolf. Offshore E-Commerce Can Make You Rich. EscapeArtist.com. 1996-19 July 2007. EscapeArtist Inc. 12 July 2007. http://www.escapeartist.com/Offshore_Webhosting/Ma king_Money.html
Recent historical developments leading to deterritorialization are responsible for the explosion in offshore e-commerce: the end of the Cold War, the Internet, and globalization. The end of the Cold War opened up new markets and there were both consumers and businesses eager to join the international business community. E-commerce in its traditional localized or national from has gone global. Any consumer can find this phenomenon when perusing the Internet in search of, for example, a rare out of print book. The seller may be an offshore in England while the buyer is in the US. Such transactions are commonplace in globalized e-commerce.
Offshore e-commerce development requires attention to detail and an understanding of the basic tenet of offshore e-commerce. Just as owning an offshore brick and mortar company in the past meant that a company quite literally existed offshore, in another country or location, so is the case with web-hosting an offshore e-business or company. The company's site is associated with a financial institution in one country, but the financial transaction occurs on-line, in the currency of the owner's/owners' choice.
When deciding to bring a service or product to market in offshore e-commerce, choosing a location is an important consideration and often depends on the product or service. The International Business Company model is the most common and apparently the easiest to develop for beginners. Offshore e-commerce in the form of an IBC (or offshore limited company), is the model that has generally been welcomed in many jurisdictions (countries, entities) and has been regarded as having a low tax benefit, or in some cases virtually free from taxation, but the IBC is limited in their capacity to trade locally.
Most jurisdictions do have some regulations and fees associated with hosting offshore e-commerce. Regulations are tighter for some industries than others, particularly for financial institutions or banking operations, for obvious reasons. No country wants to be accused of hosting a money-laundering operation for a criminal network. It is wise to seek consultation on which jurisdiction is most appropriate and what protocols exist there, including what forms need to be filed. In some cases, forms and company descriptions need to be in the jurisdictions language.
Aside from finding the right jurisdiction for web-hosting an off-shore e-commerce business or company, there are three other areas where consultants can be essential: accounting, legal, and financial services. The right accounting service can assure the best tax situation through basic statutory accounting, corporate accounting and Internet -driven accounting. Financial services are banks or financial institutions with specific expertise in offshore e-commerce. Legal services can provide a blooming e-business with important advice about the regulations of jurisdictions as well as international regulations. Some legal services have forms that offshore e-commerce IBC's need to file with jurisdictions, which can be a daunting task for any start-up with limited knowledge about a jurisdiction and its policies regulating offshore e-commerce.
Sources:
Offshore eCommerce and Webhosting. Offshorebiz.com. 12 July 2007. http://www.offshorebiz.com/offshore-ecommerce-and- webhosting.html
Offshore E-commerce Fact File. Offshore-E-com.com. 1999-2006. The Lowtax Network. 12 July 2007. http://www.offshore-e-com.com/html/factfile.htm.l< br />
Offshore Professional and Financial Services, Offshore Company Formation. Offshore- E-com.com. 1999-2006. The Lowtax Network. 1 Aug. 2007. http://www.offshore-e-com.com/html/ecompco.htmlOff shore
Offshore Professional and Financial Services, Accountancy Services. Offshore- E-com.com. 1999-2006. The Lowtax Network. 1 Aug. 2007 http://www.offshore-e-com.com/html/ecompacc.html
Offshore Professional and Financial Services, Financial Services. Offshore-E-com.com. 1999-2006. The Lowtax Network. 1 Aug. 2007. http://www.offshore-e-com.com/html/ecompfin.html.< br />
Offshore Professional and Financial Services, Legal Services. Offshore-E-com.com. 1999-2006. The Lowtax Network. 1 Aug. 2007. http://www.offshore-e-com.com/html/ecompleg.html.< br />
Müller, Rolf. Offshore E-Commerce Can Make You Rich. EscapeArtist.com. 1996-19 July 2007. EscapeArtist Inc. 12 July 2007. http://www.escapeartist.com/Offshore_Webhosting/Ma king_Money.html
