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Thread: Camgirls using Foreign based Webcam Hosts may want to consider this development ...

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    Default Camgirls using Foreign based Webcam Hosts may want to consider this development ...

    from

    (snip)"A securities analyst sent a note this morning "I just received this today from a company I have used for 3 years."

    He was referring to a memo from Currency Online regarding Restriction of our service to USA based clients

    Regrettably I write to inform you that, due to changes in legislation, we will be unable to continue to offer our international money transfer services to clients located in the United States of America (USA). As a result, any existing transactions that you have outstanding with Currency Online will be completed in the normal way, however you will be unable to undertake any new transfers.

    Below we have anticipated some of the questions you may ask. Should you have any further questions please email us at [email protected] or call us on our free phone number 1866 420 7697.

    Q: Can I still access my online account?
    A: Yes. While you will be unable to undertake further FX transactions with Currency Online, you can still log into your account and have full access to review funds held on account plus any current and historical transactions.

    Q: What happens to my existing FX transactions?
    A: Simply complete the contract as normal. Please ensure you deliver your funds by the agreed value date and we will pay your purchased funds to the nominated beneficiary.

    Q: What do I do if I have a Market Order in place?
    A: As the outcome of a market order is an FX transaction we will unfortunately need to cancel any outstanding Market Orders you have. We shall, if we have not already done so, be calling you directly.

    Q: What if I am no longer located in the USA?
    A: Simply provide us with your new proof of address and you will be able to continue to use our services as normal.

    Once again, please accept our sincere apologies for any inconvenience this may cause. We will of course let you know should we resume our services to US based clients. In the meantime, we thank you for your support and understanding.

    The team at Currency Online
    "(snip)

    trying to research what is actually behind this new development...

    from

    (snip)"one of the most troubling on the long list is the growing problem of currency controls against Americans conducting legitimate offshore business. We have long argued that the noose was tightening against the free movement of Americans, and their money. Not just globally, but right at home.

    While there is no one specific law restricting the free movement of currency across US borders, America has “de facto” currency controls.

    You read the above correctly: today, the USA has de facto currency controls restricting Americans from conducting legitimate global business across their borders. Finally, we are not alone and others are taking notice and waiving the same warning flag."(snip)

    Now, the IRS has acquired indirect and discretionary control over offshore banks under the 2010 HIRE Act, which integrates the provisions of the Foreign Account Tax Compliance Act. These far reaching burdens will all but cut off any and all offshore banking and investment opportunities for Americans.

    Read that last sentence again….it is very significant.

    The newly adopted financial and compliance burdens and expenses impacting foreign banks dealing with Americans are very dramatic and will be so great, that US citizens will certainly be cut off from financial markets outside the US boundaries.

    From a global perspective, for Congress to attempt to regulate foreign banks from sovereign jurisdictions is arrogant and distasteful.

    But worse yet for Americans, the certain spillover to non-financial investments will likely follow, since investing in real estate, stocks, bonds, and intangible assets involves US citizens using a foreign bank to complete an offshore transaction, unless traveling with a suitcase full of cash across borders"(snip)


    Honestly, I'm not sure what precipitated this 'cutoff' of US clients by this international currency exchange and funds transfer service ... on a US holiday weekend no less. But the underlying principles which led to this 'cutoff' could be similarly applied to other international currency exchange and funds transfer services channeling 'foreign earned' money to US citizens.

    This function is of course an essential part of US webcam girls receiving future payments for money earned via foreign country based webcam hosts ... which necessarily involves a de-facto 'foreign bank account' in the camgirl's name at the webcam host's foreign 'bank' ( = payment processor ) which temporarily holds her 'foreign' webcam earnings. This certainly "involves US citizens using a foreign bank to complete an offshore transaction", as the attorney put it.

    I'm not trying to raise undue concern, but if this new US Capital Controls measure becomes widespread, it could lead in the extreme to a situation where US webcam girls using foreign based webcam hosts may need to travel to Cyprus ( or wherever ) in order to personally withdraw their webcam earnings in Euros ( or whatever ).

    In more practical terms, the possibility that new US Capital Controls could potentially be enacted at any time leads to a few considerations ...

    - while international funds transfers are still possible, make frequent transfers so that your 'foreign account' balance doesn't build up to a high level. This is based on the possibility that, with little or no notice, the webcam earnings held in your 'foreign account' could effectively be 'trapped' until you show up in person in the foreign country to withdraw your funds.

    - consider fewer efforts using the foreign webcam host, and greater efforts using a ( new ) US based webcam host to build a 'presence' / ranking / regulars. This is based on the future possibility that new US Capital Controls could effectively cause huge numbers of US camgirls to quit foreign webcam hosts and move to US based webcam hosts within a very short period of time ... at which point building a 'presence' / ranking / regulars will be far more difficult.


    I would also point out that I have already personally experienced the effects of new US Capital Controls ... i.e. being forced to close my Swiss bank account !

    ~
    Last edited by Melonie; 11-24-2011 at 05:58 AM.

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    Featured Member HaydenBlue's Avatar
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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    Gosh this is scary. Thanks for the heads up, melonie







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    Veteran Member Crustyz's Avatar
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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    Wow, this is bad.

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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    Which sites use foreign based hosts? Should us American ladies move off the sites that use foreign banks to pay their gals?

    I really don't understand how restricting foreigners from paying Americans can help the economy at all. And I sell things overseas sometimes, so does this mean that my buyers in Hong Kong can't pay me thanks to a stupid restriction???

    If this continues, I figure I have to choose between living in Mexico or Canada. Mexico's got pretty beaches, but Canada's got free healthcare. Hmm, going to have to flip a coin on this.

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    Featured Member HaydenBlue's Avatar
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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    Streamate is hosting outside the US, in Cyprus.

    But I know the owner is in the US.

    That said, don't you think they or any site would find a way to move the site so it is accessible to the US??

    US guys speak English. A lot of them see us for the 'girlfriend experience', or fetish and the interaction that comes with it, than just a pussy. They can get that anywhere. Not as an insult to a foreign girl but communication is a big barrier if all of the English-speaking custies are stuck with foreign models.

    Losing us U.S. girls would mean losing a big # of our customers and that equals loss Streamate's $$.







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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    Thanks for the info Melonie!!

    Another day that I am so happy that I live outside of the US.....In theory, I want to move to NYC, and I love the states....but the more I learn about how finances work in the US, the more concerned I get, and the less I want to live there. Hopefully this does not echo around other countries..
    I take cash, debit or credit. I just don't take shit.


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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    most of american sites have actually the business located in europe (cyprus , andora , the netherlands ) but i guess depends how they pay you from the us company or the european one ! Sorry to hear that i feel you girls
    My twitter @iamchloeswift

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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    Since I'm looking at signing up soon (in the US), does anyone know which sites are still safe? I'm worried! On another note, DH and I want to move to Sweden in a few years...but how would that even be possible unless we got a job transfer (since the real estate option would be out...)? Sigh.

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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    I really don't understand how restricting foreigners from paying Americans can help the economy at all. And I sell things overseas sometimes, so does this mean that my buyers in Hong Kong can't pay me thanks to a stupid restriction???
    You're confusing the point a bit. In the case where you sell something to a foreign buyer, there is no problem for that foreign buyer to send money across the US border to pay you. Thus if your payment processor is located in the USA it's business as usual. However, if your payment processor is located overseas, the foreign buyer can send money to the foreign payment processor in your name, but if US Capital Controls are enacted the foreign payment processor cannot then forward that customer money to you across the US border ( meaning that you'd need to physically travel to Hong Kong or wherever to collect it ).


    don't you think they or any site would find a way to move the site so it is accessible to the US??
    Yes absolutely ... all they would need to do is drop their foreign payment processor and adopt a US based payment processor. However, that US payment processor would then have to follow all applicable US laws which the foreign payment processor does not. One would be the Patriot Act requirement of reporting all cross-border transactions being made in your name to the IRS ! Another would be sales and/or 'gross receipts' tax collections / deductions from the camgirl's revenues for payment to the camgirl's state / local gov't. These additional compliance requirements cost money ... meaning that the US payment processor would charge a higher processing fee ... meaning that the webcam hosts may have to drop payout percentages for US camgirls to cover these addtional costs. An alternative could be to simply pass on the sales tax / 'gross receipts' tax payment liability, and accounting / filing requirements, onto the US camgirls, but there is some US legal precedent that may prevent this versus making the main business entity ( in this case the webcam host ) responsible for sales tax and 'gross receipts' tax collections / reporting / payments.

    Keep in mind that, from a legal / financial standpoint, switching from a foreign based processor to a US based processor essentially relocates the camgirls 'point of business transaction' away from the webcam host's foreign country and into the USA. Essentially this makes her subject to all of the business laws that would apply to a 'brick and mortar' business located down the street from her home address. But unlike that local 'brick and mortar' business, the camgirl has no way of charging her customers for the sales taxes she will have to pay to her state / local gov't ! The general 'business nexus' principle is discussed at . As to reaction by web hosts and payment processors, I would only point out that, after crunching the compliance cost numbers, Amazon chose to simply drop some 25,000 former 'affiliates' that lived in California. And while California's 'business nexus' laws are probably the most extreme, many other US states have similar 'business nexus' requirements regarding the collection and payment to the state tax dep't of sales taxes and 'gross receipts' taxes on goods and services sold by internet businesses with elements located in that state.

    Not intending to make a political statement versus an economic one, but it would certainly appear that the pending US Capital Controls laws are working in conjunction with state 'business nexus' laws toward a common goal ... accounting for the internet based business sales and incomes of their citizens, and making sure that the federal and state gov'ts get paid their 'cut' !!! Probably the more important question where SW Camming Forum readers is concerned is whether, like Amazon and some other huge volume internet businesses, the webcam hosts will deem the compliance costs and 'hassle factor' of fully complying with US federal laws ( and particular US state laws ) as being 'more trouble than its worth' where US camgirls ( or US camgirls located in particular 'business nexus' states ) are concerned. If the webcam hosts were to follow the Amazon precedent, camgirls living in California, Connecticut, Colorado, New York, North Carolina, Rhode Island, Minnesota etc. ( i.e. US states with 'ETax' / 'business nexus' laws already in place ) could similarly find a 'pink slip' e-mail from their webcam hosts.


    Here's some 'professional commentary' from

    (snip)"You may have brought another state into your nexus mix without even knowing it because of your affiliates. An affiliate is someone who advertises for your business on the internet and sends people over to your site. Your affiliate gets paid every time one of his referrals buys something from you. [ camgirls would fit the definition of an affiliate - sic ] The problem is that some of states have taken the position that if you [ the webcam host site - sic ] have an affiliate [ a camgirl - sic ] in their state, you’ve also created nexus and you [ the webcam host site - sic ] owe them taxes.

    Is this fair? Well, up until recently, the retailer would have won that argument. However, hungry governments in several states are rushing to enact laws that say nexus (and the corresponding obligation to collect and remit sales tax) is where the sale occurs.

    In other words, New York says that it was your website that caused the sale, and as you live in New York, nexus is there. This is the so-called “Amazon” law, currently making waves through the internet. Right now, the problem states are Minnesota, New York, North Carolina, and Rhode Island. These states have all passed laws expanding their nexus definition. California and Hawaii both vetoed legislation in 2009, but there is no guarantee that the issue won’t arise again [ California's law was recently passed - sic ].

    Let’s say your internet business [ the webcam host or payment processor - sic ] is based in Washington and you have an affiliate [ camgirl - sic ] in New York (one of the problem states). You [ the webcam host or payment processor - sic ] make a sale to someone who lives in Washington through your New York affiliate. Washington still claims it has nexus for sales tax, and now, so does New York. Who do you pay? The sad answer is “both!” Try explaining to your customer why you have to collect sales tax from him for a state he doesn’t live in.

    Colorado got into the act earlier this year, with a different spin on the legislation. Colorado now requires retailers [ webcam host or payment processor - sic ] who sell to Colorado residents to notify those residents that they owe use tax on their purchases, and to also file a report with the Colorado tax authorities detailing their customers and the amounts of each sale. Colorado isn’t asking retailers to collect the tax, but with all that extra work, they might as well be.

    Overlapping taxation laws can be dangerous to you as a business owner from another perspective, too. Let’s say you have an affiliate marketing business [ camgirl - sic ] and you get referral income every time someone buys. If you’re located in Minnesota, New York, North Carolina, or Rhode Island, you’ve just created a problem for some of the businesses you sell for [ webcam hosts or payment processors - sic ]. By allowing you to market and drive people to their websites, they [ the webcam hosts or payment processors - sic ] have now become responsible for collecting and paying sales tax from your referral customers. But that’s okay. Most vendors with affiliate programs have chosen to simply drop their affiliates in problem states.(snip)


    ~
    Last edited by Melonie; 11-25-2011 at 01:34 PM.

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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    Melonie you do a great job making me feel completely stupid but also super-informed. Thanks!





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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    I love how the more control I try to exert over where my earnings get funneled, the more catches there are to it. Reading up on financial dealings rules is starting to make my head spin. Thus is the burden of owning a business.

    Thanks for the heads up, Melonie.

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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    I'm pretty sure that Streamate's bank is hosted in the USA... I forget which state it said on the check but as long as the checks are coming from a US bank you are pretty safe.

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  17. #13
    Banned Melonie's Avatar
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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    Streamate's bank is hosted in the USA... I forget which state it said on the check but as long as the checks are coming from a US bank you are pretty safe.
    Almost certainly true from a camgirl's 'personal liability' standpoint at least.

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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    Quote Originally Posted by Melonie View Post
    from

    (snip)"A securities analyst sent a note this morning "I just received this today from a company I have used for 3 years."

    He was referring to a memo from Currency Online regarding Restriction of our service to USA based clients........................
    How will this affect those who are on PJ's DailyPay?

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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    payoneer isn't u.s. based though right? so for those of us who get paid via payoneer and work on streamate this could potentially be a problem.

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    Default Re: Camgirls using Foreign based Webcam Hosts may want to consider this development .

    So in a world of corporate America outsourcing customer service and making consumer goods to India, china, and many third world areas..... They don't want foreign income for cam models. Well all the more reason canada is looking like a good place to move

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