Quote:
Originally posted by Mutt
out of curiousity, why would you go thru the trouble of creating a US presence if you went and got your own merchant account to process with?
VERY hard to get a merchant account as a Canadian in the United States. Should be no problem if you've set up a legitimate U.S. corp that satisfies VISA's rules.
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Dear Mutt,
You ask some good questions. For the purpose of this discussion, a Nevada corporation itself is a US corporation, therefore the corporation would typically, not be subject to Canadian taxation.
Another attractive provision in Nevada law, which recognizes the shareholders, and not corporate officers, as the actual corporation owners. Under Nevada law, corporations are not obligated to disclose the name of shareholders. Yes, your US corporation is obligated to file a US tax return, however it is your decision if you do or do not inform others of your actual ownership.
In regards to a US corporation establishing their own merchant account. Your observation is true, however those engaged primarily in "high risk" transactions would have a tremendously difficult time obtaining an account for those purposes.