I was just wondering who's actually incorporated their business in Delaware?

Their non US based business.

I live in Toronto and I was thinking of incorporating a business in Delaware and getting a merchant account.

I have a few basic questions.

If someone who's been successfull in registering, incorporating their foreign business in the US and getting a merchant account in the US can please pm me...It would be greatly appreciated it.

Thanks.

just fyi:

1 - being a canadian citizen you have to pay taxes on world income. Any income from the corporation to you is taxed.
2 - Incorporating in Delaware will be more costly for you (you need a local agent) than to incorporate in Canada (or getting a dba).
3 - "Proudly Canadian" sells well in Canada :D

It's a lot harder to get a merchant account in canada.
It's a lot more costlier and time consuming too.

Originally posted by big_smooth
It's a lot harder to get a merchant account in canada.
It's a lot more costlier and time consuming too.

have you tried going through cibc? I haven't done it myself, but others have had no problem.

Hello,

I am actually going through the same hassle as you probably are now. I am a royal bank customer myself, so what I did was take advantage of their service at

http://www.royalbank.com/centura/index.html

This sets you up with a bank account in the states. From there I just contacted merchant account providers until I found one that will give me a merchant account based on having a U.S. bank account.

For me it appears that

http://visa-master.com/

is willing to work with me on this.

Now the only problem that I have is that I accept payments on 6 and 12 month plans. It appears that they want me to come up with a $60K reserve to cover for chargebacks due to the fact that I offer these longer terms. I am trying to negotiate with them to bring it down to the $10-15K mark, but I'm not sure how well it is going to work.

Other than that it appears that simply getting the us bank account opens up a lot of options.