What payment methods are startup friendly for drop shipping business?
This is a cool article. Filled with rich information. But there is one point which is not mentioned. That is “payment methods” .
1. What payment methods are startup friendly for dropshipping business?
2. For an international business how do I receive my payments?
3. Opening an offshore online business, how should I setup on receiving my payments? Should I have a bank in the country of the offshore business or in the country I am residing?
4. If I need an offshore bank account, how will I transfer the profits to my country location? Will I have to visit the offshore account frequently? Is there a solution for this?
5. Will in need to pay taxes to my home country as well for the profits gained or money transferred?
6. Is there an online banking that can handle this complication?
Of course I will have to create a trade license and register for tax on the offshore country that I am conducting the business in. But where will the profits get stored?
I hope to receive a reply soon on this matter.
Thanks for visiting the site! Glad you like the article.
You might check out our article on How to Accept Credit Card Payments Online for Small Businesses .
If you decide to set up a Shopify drop shipping webstore, you can opt to use Shopify’s built-in credit card processing, or you can integrate it with a payment gateway the Shopify supports. Those can be found here: https://www.shopify.com/tour/shopping-cart.
In answer to your tax question, I recommend contacting a licensed tax professional that’s familiar with business taxes for your home country.
Thanks for reading, and best of luck with your drop shipping business!