The Rip Off Corporation

by Rolf Müller

The rip off corporation is one of the most common scams on the internet. Don't get short-changed on your Corporation. Most so-called offshore service providers sell 'hot cake,' corporations, that lack proper apostilles, proper stamps, have unpaid taxes, unpaid subscription taxes, and are merely 'shell documents,' not legal corporations. i.e. They sell you the document, but it is not legal in Panama. If you wish to do offshore banking, brokerage or eCommerce it will require that you have a fully legal Corporation that meets Panamanian law.

Panamanian fees & taxes must be paid from day one, not at the end of the year. (The fees are minuscule, consisting of only a few hundred dollars.) Many so-called Offshore Service Providers do not pay the taxes, even in subsequent years, although they will charge you for it. They don't care, they figure you'll never come to Panama, never investigate and therefor never know. This is part of what soured me to promoting offshore firms. Some firms go even beyond that level of dishonesty and run what are called Ponzi schemes, using other investors money to pay you high interest on your investments. (Like a chain letter.) Once they've collected enough money they disappear.

In eCommerce, (internet commerce,) the one area I am recommending, you control your own assets, you control your own website, you control your own bank account.

We are not interested in helping people evade taxes, our goal is to provide the legal means of doing legitimate offshore eCommerce, whether in international trade, import & export, online eCommerce, product sales, software sales, and/or any of the many forms of international online eCommerce that will benefit from the utilization of an offshore jurisdiction.

The most important tool, and the first tool one needs for offshore eCommerce is the IBC.