Lawyer Scared Me From Starting Affiliate Marketing

[Archie]

Hello everyone,

I wanted to start a casino affiliate comparison website, but before doing so, I had a meeting with a local Israeli lawyer.
Basically, I was told that without her services, which are expensive, I may get in deep trouble with the law.

Such as AML for money laundering, not following GDPR rules, money transfers from abroad to Israeli banks, and setting up offshore companies.

So seeing that this is complicated and requires massive capital investment to start, I wanted to verify with all of you: is she over complicating in order to have me on a retainer or what? Let me know what you think, and I would love to know how you started with it.

 

[AussieDave]

I had a meeting with a local Israeli lawyer.
Basically, I was told that without her services, which are expensive, I may get in deep trouble with the law.

I don't live in Israel, and I'm not a lawyer.

I'm not sure there are any Israeli affiliates here who are lawyers. Hence, asking people who are not Israeli lawyers, for legal opinions about conducting business in Israel, is, crazy!

 

[nwalker]

I know nothing of conducting business in Israel.

You need to do the same in the UK, but it doesn't need a lawyer. My start-up costs were Zero.

As an affiliate, you're not responsible for AML; the casino is. As an advertiser, you don't need to adhere to GDPR, which is for the Casino, unless you maintain a list of email addresses for your clients, where you'll have to offer an opt-in / out process. You receive payments, not send them, so you only need a business Bank Account to receive them.

I suspect the lawyer was confused about the difference between an affiliate and a casino business.

 

[Iosya299]

Easy way to get started:
Just send traffic to reliable affiliate programs and get paid to your USDT wallet (not exchange), then withdraw to cash via crypto exchanges without verification or p2p.

And then you plan for legalization depending on success and volumes.

 

[Jops]

Easy way to get started:
Just send traffic to reliable affiliate programs and get paid to your USDT wallet (not exchange), then withdraw to cash via crypto exchanges without verification or p2p.

And then you plan for legalization depending on success and volumes.

You still need to tax when withdrawing to cash, right? I don't see how you would get away with it in the long run.

 

[Iosya299]

You still need to tax when withdrawing to cash, right? I don't see how you would get away with it in the long run.

In most countries, you can find people willing to buy USDT for cash - and tax-free.
There are even special aggregators of crypto exchanges. In these exchangers you can anonymously cash out USDT into dollars, practically all over the world.

 

[Iosya299]

In most countries, you can find people willing to buy USDT for cash - and tax-free.
There are even special aggregators of crypto exchanges. In these exchangers you can anonymously cash out USDT into dollars, practically all over the world.

I think this option is the best at the start

 

[Jops]

In most countries, you can find people willing to buy USDT for cash - and tax-free.
There are even special aggregators of crypto exchanges. In these exchangers you can anonymously cash out USDT into dollars, practically all over the world.

But as soon as that cash hits your bank account, the bank will want to know where the money comes from. There is no way around it.

 

[forumsaddict_reboot]

Get some traffic first. Only one out of 1000 people who do this make over $100 per month. Like ever.

 

[Iosya299]

Do you really need to top up your bank account?
There are also many services with virtual cards without verification, where you top up USDT and can pay for any purchases.

And again, we are talking about small amounts. Even if you want to take the money to the bank - it will not be interested in where you got a couple hundred dollars.

 

[AussieDave]

Get some traffic first. Only one out of 1000 people who do this make over $100 per month. Like ever.

Ageed.

@Archie - FYI For every 100 newbie affiliates, only 1 - 2% are still going after 12 months. It not an easy buck - certainly not the cash-cow it once a decade + ago. Most people give up because it's so hard

I'm 62; started when I was 39.

However, if I was starting out, I'd be looking at getting into an up and coming-vertical. Something new that is going to get legs and grow, which will ultimately place you on the ground floor of opportunity.

That's my advice. It's no skin off my nose if you become a casino affiliate. It wont affect me. However, the choices you make WILL affect yourself in the long run. Anyway...

@Iosya299 - unless your living off the grid, then one's Gov., Tax authority will catch up with you.
The OP is in Israel, he has sweat FA chance of pulling your suggested RUSE.

Bach before covid came to town, cash was KING.

Now, though, with less paper and more digital, the chances of NOT being busted for TAX evasion (which is what your suggesting) is akin to playing Russian Roulette.

 

[LA-Martyn]

I too am not a lawyer, but that nwalker seems to talk some sense (sometimes).

I work with some Isralie partners, banking can be tricky and can/will require contracts, invoices and possibly back up letters from your chosen programs to confirm the relationship between the companies involved. Sometimes, they hold on to funds until you have that in place, so it's good to plan in advance for these things so keep things running smoothly.

Reliable programs will have a contract that you should get signed by both parties and, when it comes round to payments, then you may need the letter I mentioned previously.

Setting up offshore companies I know nothing about, you might need a lawyer for that bit or speak with someone in the know?

That's all the useless information I have for you at this time.

P.S. I suspect that lawyer saw $$, which is unusual for a lawyer!

 

[Kadabra]

Hi,


1. As Forumsaddict said, there is nothing you need from legal perspective to get started. Get to your first payment and then figure out the legal perspective (which is btw nothing). You really dont need a lawyer, you do need an accountant but again only when you start generating earnings.

2. If you really plan to make money, ignore Iosya 299. This is not sustainable, for sure not in Israel. Unless your plan is to make untaxed few hundred backs then sure. If you are serious about it, it doesn't make sense in any way.

3. Do get the site on your name, invoices on your name and before getting first payment, register yourself as independent service provider (there is a term for it which i forgot).

Bottom line, get started and see how it goes.

 

[danieldan]

Ive always enjoyed the topics where the site isnt yet up and running and already there are musings about offshore companies, taxes, where to keep all those millions earned from the affiliate site.

 

[Iosya299]

2. If you really plan to make money, ignore Iosya 299. This is not sustainable, for sure not in Israel. Unless your plan is to make untaxed few hundred backs then sure. If you are serious about it, it doesn't make sense in any way.

In my subjective opinion, getting money into Israel from abroad, especially from an offshore company, is more dangerous than having some cash and not standing out.

 

[Kadabra]

dangerous in which way? how is that dangerous? the worst part that can happen is that the bank wont accept certain wire. Then you open account in another one.
Earning in crypto, not declaring it, is both dangerous and not sustainable.
Its ok, if you are making few hundred $. you can keep it in crypto and not stand out. If you wish to live from affiliate marketing, you will need to meet that money and pay taxes for it, otherwise it is dangerous.

Anyway, first make money, then solve how set it accounting wise.