legal incorperation question....

**hockey97** · 09-05-2008 01:34 PM

HI, i found a person on the internet that will charge me 300 bucks to incorperate a business in panama he said that I can register my business in panama and open shops in the U.S

He told me their is a legal loop hole. I can have stores and shops in the U.S but don't need to pay any taxes nore need a resellers licenese.

Is this true???

**jasaunders** · 09-05-2008 01:57 PM

That's absurd. U.S. law requires you to register your business where your business is operating. Unless you are setting up shop to run your business out of Panama, I think you are off base here. Have you ever heard the saying: if it sounds too good to be true it probably is?

**hockey97** · 09-05-2008 02:55 PM

ya I heard that saying. The reason I ask this because I have heard from other sources alot of majori corporations do this. This way they can legally get away from paying most taxes. They are still stuck with social security ect ect.

oh well just wanted some advice. I know their is laws in the U.S that you supposed to incorporate your business here but I have heard many stories of legal loopholes.

one was about airplanes on where you register it. I forgot what country they register the plane in but they had no tax on the airplane even thought that small charter company was based in the U.S and still till this day they haven't gotten in trouble.

I thought their was some truth with this since I saw a show on nbc about rich people hiding their money in panama banks to avoid paying taxes.

**CIsaac** · 09-28-2008 01:38 PM

Don't walk, but RUN from this scam!!

**matt_15** · 09-28-2008 01:47 PM

Have you got your articles of association ready?

**llcollins82** · 09-28-2008 04:54 PM

You should incorporate your business in Delaware, as it offers some great benefits. Did you know that 60% of Fortune 500 companies incorporate in Delaware to save money and gain tax benefits?

**BusinessAdviser** · 09-28-2008 06:07 PM

Originally Posted by jasaunders

That's absurd. U.S. law requires you to register your business where your business is operating. Unless you are setting up shop to run your business out of Panama, I think you are off base here. Have you ever heard the saying: if it sounds too good to be true it probably is?

That's not absurd at all, actually. There's a difference between registering to do business and creating a business entity.

**Blaire** · 12-17-2008 12:35 AM

Originally Posted by hockey97

HI, i found a person on the internet that will charge me 300 bucks to incorperate a business in panama he said that I can register my business in panama and open shops in the U.S

He told me their is a legal loop hole. I can have stores and shops in the U.S but don't need to pay any taxes nore need a resellers licenese.

Is this true???

Hey buddy, I don't think it is true, as far as I know, we cannot do as your internet friend stated. He may wanted your money or he may be a scam, be aware of him buddy,