Episode 22 - Andrew Reich, Hosting Your Website Offshore, Opening a Bank Account in Singapore

Andrew talks on the importance of planting digital flags and creating extra security measures to protect your business from possible domain seizures. The US believes all .com addresses are theirs and subjected to US law and taxes. The same can be applied to servers that are hosted on US soil. What should you do and what are the pros and cons if you were to host your website offshore? All of this and more on today's episode of The Nomad Capitalist Live.

 

Key Takeaways:

Andrew's Editorial:

[1:55] Where should you host your website and register your domain?

[4:05] If your servers are located in the US, you might be subjected to tax on your business.

[4:40] What are the pros and cons of hosting in the US?

[7:30] Pros and cons of hosting your website offshore?

[13:50] You never know when the IRS will audit you. A US server can get you into trouble.

[16:15] Where should you get your domain?

[18:55] Foreign domain names may not rank as highly in US/Canadian search engine results.

 

Interview:

[22:10] Andrew introduces Andrew Reich.

[23:15] How did Andrew R. get started in his entrepreneurial journey? 

[27:40] Did Andrew R. ever have an 'ah-ha' moment?

[29:15] What's it like living in China?

[32:40] What kind of lessons has Andrew R. learned while running a business and being a traveler?

[36:20] What flags has Andrew R. planted?

[38:30] Setting up companies in Hong Kong versus US? Which is easier?

[43:20] Has Andrew. R experienced any problems setting up bank accounts?

 

The Lighting Round:

[48:20] One business – Consumer electronics.

[49:00] One country – US or Canada.

[49:35] One book – How to Win Friends and Influence People by Dale Carnegie.

[50:40] One tool – Basecamp.

 

Listener Question:

[52:10] Would Andrew recommend opening a bank account in Singapore?

[53:05] Andrew does not like HSBC.

[53:50] Opening a bank in Hong Kong is difficult.

[56:20] Western countries will put even more pressure on foreign banks to tighten up their polices.

[57:55] Andrew does recommend Singapore, but hurry before their policies change.

 

Mentioned In This Episode:

http://nomadcapitalist.com/2013/12/15/top-5-best-countries-host-website-data-privacy/

https://www.cloudflare.com/

https://www.maxcdn.com/

http://wpcurve.com/

http://www.vital-it.ch/

http://www.intouch-quality.com/

How to Win Friends and Influence People by Dale Carnegie

http://nomadcapitalist.com/shop/lp-offer-best-offshore-banks