Offshore merchant account

How do you like the idea of having a merchant account in Panama? You can have your e-commerce business duly registered in Panama and enjoy access to its local merchant account providers. Operating a duly registered E-commerce business is tax free in Panama.

[Jeremy]

It's shady to say the least. I don't know the tax laws well enough to say, but I have a feeling if you live in the US, the IRS is going to get their hands on they money the second you transfer the money from your business account to your personal account.