A St Vincent LLC for online retail and multi-currency payments
The task
The client sold through marketplaces and his own website to buyers in many countries. Everything ran through a company in his home country: extra reporting, and the bank questioned every incoming foreign payment. He needed a simple structure for online sales with payments in several currencies.
What we did
We registered the LLC and found a payment provider that accepts marketplace payouts and customer payments. We also went through tax: foreign income is not taxed in St Vincent, while tax in his country of residence is his own to settle.
The result
I used to get a question from the bank about every payment from abroad, and I was tired of explaining the same thing. This structure is simpler and there are fewer questions, which is exactly what my sales need. It was all done remotely; I only sent my passport and a couple of scans.