Today's geographical barriers are virtually lowered, thanks to the Internet and online business boom. This might not render industries obsolete (well, maybe a couple were becoming obsolete because of the Internet) but one thing for sure, the Internet has ushered the rise of online entrepreneurs who run a location independent business.
Indeed, online entrepreneurs today are no longer location-dependent. By nature, online entrepreneurs can work anytime and anywhere, as long as they have a computing device and an Internet access with them. However, a certain type of online businesses, such as eCommerce sites, used to require a warehouse to maintain. It's not practical, unless you are Amazon.com, perhaps.
Fortunately, the trend has shifted - today is the age of offshore-everything.
Offshore-everything: A descriptive look
There are many facets of online business that can be operated online and offshore, from taking orders to fulfillment; from accepting payment to banking; from income to asset protection and management.
Let's take order fulfillment, for example. In the past, you need to hold inventory to run an online store. You order products, and they are delivered to your warehouse. Well, not anymore; you can now have your goods delivered straight from the producers/suppliers, and using fulfillment services you can send customer orders directly to their homes. This is popularly known as dropshipping.
If you are producing your own products, you also no longer have the restrictions; you don't have to run a factory in your home country. Now, you can also make your product in, say, Vietnam - by orders - and have them delivered to customers' addresses without the need for the goods to be delivered to your company.
How about payments? Now, you can have your invoices stored online. Need to accommodate for more convenient transactions? Use online payment services; offer choices – they are aplenty.
Need to do banking? You can now access online banking services. You can even have your bank account set up on a different jurisdiction from your company's HQ, offshore – e.g. In St. Vincent and the Grenadines (SVG).
How about growing your assets? You can now invest your company's earned currencies in real estate, stocks or precious metals. And yes, you can also do that outside your home country, even off the shore, with the stellar services provided by a dedicated asset manager of a private offshore bank.
Even your so-called office (your living room, perhaps?) in your home country is not really your headquarters. You can now consider offshore company formation: Establishing your company headquarters in more stable, reputable and business-friendly jurisdictions, like Hong Kong or Dubai. You don't need to invest in a physical office, just a virtual office will just do – and it's affordable (i.e. in Hong Kong, you can rent a virtual business address for as low as USD 60/month.)
You can manage all that without the need for you to be physically present. In fact, you don't even need to stay in your home country, as you can now travel to anywhere you want and run your business with a laptop, smartphone, and other mobile devices – and an Internet access, of course.
Staying in your home country becomes more of a choice, rather than a requirement.
As you can see, an online entrepreneur can now run a multi-jurisdiction company and reach global market – legally and conveniently.
“But how can I do all that?” you asked. While ideas and executions are the choices of yours, the best way to get started in taking everything online and offshore is by asking around and seek suggestions and recommendations from fellow online entrepreneurs who have the been-there-done-that experience.
You can also consult with your trusted International Corporate Services providers and lawyers, as they are professionals who are proficient with the (legal) requirements of doing business activities from different jurisdictions, onshore and offshore.
We build our reputation by helping numerous clients in setting up an offshore business and take benefit from the perks offered by the offshore jurisdictions, legally. If you are interested in running a multi-jurisdiction company, you can consult with us for free, and we will advise you objectively.