How to register Ecommerce drop shipping venture?
He told that in November 2017, he earned 67000€ in one month. If you reach that level of income, you will start to think about legal and tax matters of the business. He reside in France and everyone realize that it’s one of the most difficult country to build business. Particularly for ecommerce and drop shipping.
That’s why, Mousslim decide to register his company in Hong Kong. There is no VAT, and 20% of tax on the profit.
Open a company through Bridges is quite easy. It’s a fiduciary company which handles all kind paperworks with authorities where you decide to register in.
In this part, the most stressful thing is that you have to be there (in Hong Kong) physically to prove to the banks that you are running real business and to disclose that you have daily transaction in related to your business.
What About Paypal and Stripe?
The more money you make the more problem you might have to face. Paypal is heaven only for buyers in his perspective. Paypal has deemed his volume is important that they blocked his money and giving 20 questions on his business (about staff, stock, turnover, etc). You will not having other option but to answer all the questions one at a time with all the details you can give.
Paypal finally decide in keeping 20% of all his transaction for 45 days to ensure that he has money always left to deal with buyer disputes or chargebacks. There is not so different story with Stripe which finally give his money back with no restriction.
Read: How to Start Real Surveys that Pay You
What About the Competition?
There are DDOS attach on his website, several fake review which he didn’t know that all that was made by his competitor until one day he read threat letter from a lawyer to stop his business. He then realized that it’s his competitor.
What’s the Plan in Future for eCommerce Dropshipping?
He was sceptic about ecommerce drop shipping at first until he read a thread from Yaros in a forum. Those thread make him think like crazy.
Now he is travelling all year round, meeting different people, always networking. That’s make sense if you are young (21 years of age), owner of ecommerce that generate half a million in one year. People will curious about you.
What are you waiting for? Start now to build your own ecommerce easily
My family proud a lot about me because I manage to run a profitable company without a degree at all. (images courtesy: alidropship)
