|Business in foreign countries|
From the US, how do you do business with potential clients in a foreign country?
I am thinking they need to have their accounts set up there as well i.e. hosting, registrar, merchant account, banking, etc.
Anyone doing this?
Thanks for tips
If your credit card processor allows it, you can accept foreign credit cards... no need to do anything else. You might save a little money by setting up locally in your target market but I can't imagine it's worth it unless you are doing high volume.
In some countries there are other popular payment methods - giro, etc. - for those you'd almost definitely have to make local arrangements.
It all depends on what type of business, the volume of the business, the size of transactions, etc. Also the type of clients- are they consumers, other businesses, businesses with experience doing business in your country? Will they be buying from you or you buying from them?
We have a branch office in another country (legal registered entity, local bank accounts (in the local currency as well as dollar accounts), pay taxes, etc.). But we do a substantial amount of work with companies there and it makes sense for us to do things that way.
Some merchants I was in contact with who sell online, prefer an external gateway to process orders for foreign countries. There are quite a few available if you search the web.
Depending on the arrangement they may take responsibility for shipping and receiving the funds on behalf of their clients or paying the merchant by placing a domestic order. Goods in turn are shipped to the intermediary and from there to the client.
|I am thinking they need to have their accounts set up there as well i.e. hosting, registrar, merchant account, banking, etc. |
Thats not always the case. Many may host in one country but have accounts on another and yet live on a different country.
Really depends how the business operates as mentioned above.
Thanks for all your informative responses so far folks.
This is my first client in The Republic of Panama and I will be building his website.
It is a possibility I might be getting other clients from there as well.
If he can host in the US great! Then I can recommend him my host.
Thereafter we need to set up a card system with a company that will allow him to send me the funds. He cannot send money via Paypal. Only receive.