"I don't live in the United States, can I do High Ticket eCom?"
I get this question multiple times per day so I wrote a thread**
*Not Accounting or Legal Advice - just my own experience*
// THREAD // π§΅π§΅
I get this question multiple times per day so I wrote a thread**
*Not Accounting or Legal Advice - just my own experience*
// THREAD // π§΅π§΅
In short, yes you can.
There are 3 ways that you can do this.
1. Sell within the US with a foreign entity (me).
2. Form a US LLC and Sell in US.
3. Sell within your non-US country with a company formed in your home country.
I'll briefly discuss each option.
There are 3 ways that you can do this.
1. Sell within the US with a foreign entity (me).
2. Form a US LLC and Sell in US.
3. Sell within your non-US country with a company formed in your home country.
I'll briefly discuss each option.
We will start with the first.
This is my set-up.
This was my set up when I started (and still lived in Canada).
What do I need to sell within the US?
(i) A US EIN (Employment Identification Number).
Essentially a SIN/SSN for your business.
This is my set-up.
This was my set up when I started (and still lived in Canada).
What do I need to sell within the US?
(i) A US EIN (Employment Identification Number).
Essentially a SIN/SSN for your business.
You can get one in 5 minutes by calling the IRS at the link below.
I am not sure if there are restrictions on countries that can/cannot use this option.
irs.gov
I am not sure if there are restrictions on countries that can/cannot use this option.
irs.gov
Some suppliers may also require a Resale Certficate.
I recommend getting one in 1 state (that does not charge sales tax).
Type in [state name] Resale Certificate Sign Up.
I recommend getting one in 1 state (that does not charge sales tax).
Type in [state name] Resale Certificate Sign Up.
2. Form a US LLC
You do not need to live or be a resident in the US to form a USA company.
This method will allow you to start a business in the US from abroad.
The most cost-effective method is to file directly with the state.
I'd recommend picking one without sales tax.
You do not need to live or be a resident in the US to form a USA company.
This method will allow you to start a business in the US from abroad.
The most cost-effective method is to file directly with the state.
I'd recommend picking one without sales tax.
There are services such as Zen Business which will do the work for you if you prefer.
3. Lastly, you can form a company in your home country and sell products there.
USA is the most familiar with the high ticket eCom model.
Suppliers understand what's going on.
Customers are fine with spending 10K online.
This may not be the case in your home country. Idk.
USA is the most familiar with the high ticket eCom model.
Suppliers understand what's going on.
Customers are fine with spending 10K online.
This may not be the case in your home country. Idk.
That said, there can be advantages of this.
For example, the competition may be significantly lower.
The downside is that suppliers may not understand the model.
You may have to baby them along and explain how everything works, which can quickly become annoying.
For example, the competition may be significantly lower.
The downside is that suppliers may not understand the model.
You may have to baby them along and explain how everything works, which can quickly become annoying.
Once you've got a corporation set up using one of the methods above, you will need:
(1) A business bank account,
and
(2) Credit card. (Optional)
(1) A business bank account,
and
(2) Credit card. (Optional)
π Bank account
I would recommend wise.com if that is an option in your country.
You can get a USD bank account with an ACH number (to send wires within the US).
You can have multiple bank accounts in currencies.
It takes 24 hrs to sign up.
I would recommend wise.com if that is an option in your country.
You can get a USD bank account with an ACH number (to send wires within the US).
You can have multiple bank accounts in currencies.
It takes 24 hrs to sign up.
If Wise is not an option, Google:
"USA ACH Bank Account in [Your country]."
Even if you cannot get a credit card, most suppliers will accept ACH (Wire) as payment for orders, and you actually avoid the CC fees.
Downside: Usually delays shipping 2-3 days.
"USA ACH Bank Account in [Your country]."
Even if you cannot get a credit card, most suppliers will accept ACH (Wire) as payment for orders, and you actually avoid the CC fees.
Downside: Usually delays shipping 2-3 days.
Best case scenario:
You should also have a credit card that you can put USD orders on with 0 FOREX Fees.
You should also have a credit card that you can put USD orders on with 0 FOREX Fees.
In Canada:
Scotiabank Visa Infinite and RBC Gold both have 0 FOREX options.
Jeeves is also 0 FOREX, but apparantly as of recently requires 12 months of bank statements to become eligible.
Scotiabank Visa Infinite and RBC Gold both have 0 FOREX options.
Jeeves is also 0 FOREX, but apparantly as of recently requires 12 months of bank statements to become eligible.
If you have a US LLC, you MAY be able to get a USA credit card even as a non resident (I'm honestly not sure here).
If not, you can try to get one in your home country.
If not, you can try to get one in your home country.
I do not know the solution in any other country, but Google Search "0 FOREX Credit Card in [your country name]".
When an order is placed, you could wait to receive the money from Shopify and then ACH it to your supplier OR pre-load it onto your card.
When an order is placed, you could wait to receive the money from Shopify and then ACH it to your supplier OR pre-load it onto your card.
That said, a credit card certainly speeds things up if possible.
Another option:
Get a domestic credit card and just pay the 2.5% FOREX fee (and likely make 1.5% back in points/cashback) until you can figure out a better option.
I did this with AMEX Platinum my first few months when I would hit my limit on the Visa Infinite.
Get a domestic credit card and just pay the 2.5% FOREX fee (and likely make 1.5% back in points/cashback) until you can figure out a better option.
I did this with AMEX Platinum my first few months when I would hit my limit on the Visa Infinite.
"I don't live in the United States, can I do High Ticket eCom?"
In short - Yes.
1. Business
π Foreign country + US EIN
πUS LLC
π Foreign Company + Selling in home country
2. Business bank account
3. Business credit card.
** Not Accounting or Legal Advice **
In short - Yes.
1. Business
π Foreign country + US EIN
πUS LLC
π Foreign Company + Selling in home country
2. Business bank account
3. Business credit card.
** Not Accounting or Legal Advice **
Also, if I did not touch on something here, Google /Chat GPT likely has the solution if you enter the following:
Selling in the US from [Your country].
I am sure there is lots of information available on forums/Reddit.
Selling in the US from [Your country].
I am sure there is lots of information available on forums/Reddit.
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