Hi
Here is what happened. They posted on *****slist for US managers. On inquiry, they said they wanted US managers to set up a US corporation, get a US business license, then a US bank account and merchant account. When asked why they did not just get a US account of their own, they said they would get hit for large set up fees, 5-10% on merchant fees, where a small US corporation would only get hit for 2-3%. But since they offer a 10% commission, with fees and commissions, they end up paying at least 12% anyway.
And, their contract made no provisions for chargebacks, which would normally leave the merchant at risk for those.
I have done google searches and have not found much of anything one way or the other.
I was wondering if anyone had heard of them, or this kind of business procedure before.
I got that offer and I don't think i will go forward with it for the following reasons.
Anyone who wires money from their account into an international country is subject to be reported to IRS by the bank. Now, we are going to pay taxes on the wired amount and possibly get in trouble for the much activity going on from the business account. Never the less it may count as money loundering. But then again my accountant knows better than me and his say is the final say on this business decision.
Regarding Albena Design, this is the email I received after responding to their posting on *****slist:
Our company is a multiple-discipline Internet company (please visit www.albenadiz.com). One of our direction is a creating
web-products, which are intended for many clients. Our company carries
on this business for 7 years. Albena Design, Inc is one
of the leaders in our country of the companies which do these
services.
In Present days Internet influences all the areas of human activity.
That's why our company develops rapidly every year. We aren't the
waiting for the fortune company. We do the success ourselves. Our
marketing department elaborated a plan, which will help us to get
international market and the USA first of all.
We need some managers who will produce our company in the USA. It is a
very profitable project not only for our company but for our
representatives too. Future trends of this business are unlimited. We
guarantee a stable growth of your income and professional skills. From
you we need only some efforts in the first stage to develop our
business. Later you will not spend much time to keep the project.
Attention: No skills and experience in programming and web design are
required from you. This is not a technical position.
If you've got a burning desire to succeed and are interested in
maximizing your personal and professional growth, please kindly get
back to us via our email address (marko_minkov@albenadiz.com). I
will get back to you with every little detail of how our cooperation
will develop. I will forward you our Instructions.
Thank you very much.
Respectfully,
Marko Minkov,
Albena Design, Inc.
Address: 32 Nikola Petkov Street
Zip Code: 5400
City: Sevlievo
Country: Bulgaria
Tel: +359 675 300 36
Tel/Fax for US: (801) 650-9447 www.albenadiz.com
Thanks for this information !
They emailed me too. I think its a scam here's what they emailed:
. What you as a Agent will do:
You will need to register a business in your state (city). The company may be registered as a Corporation, LLC, Sole Proprietorship or other business entity.
Please see the file "How to incorporate" I sent you before.
If you already have a company, it's great and will make the start up yet faster.
The cost of opening a small business starts from $200 if you choose the simplest form of business like Sole Proprietorship. The timeframe for a company set-up also differs from state to state and normally registration takes 2-10 business days.
However the cost of setting up could be returned to you from the first profits that your web-store receives (you will take 100% of the first funds until the cost of setting up regained by you and then you will be taking your 10% commission.
All money you will spend for openning everything we will cover after we start to work.
You will get your money back in a week when we start to work, not more.
2. you open the bank business account.
To get the ONLINE ACCESS to the bank account.
To turn on the option: INTERNATIONAL WIRE TRANSFER.
We advice you to open bank business account and merchant account in the same Bank.
We advice the banks: Bank of America (http://www.bankofamerica.com/), Citizens Bank (http://www.citizensbank.com/) and Wells Fargo Bank (http://www.wellsfargo.com/).
3. you open merchant account. ONLY banks. No online merchant service. We advice you to open the merchant account in the same bank where you open bank business account. It's more easy and better than to use the merchant account in other company. All banks I advice you have their own merchant accounts.
While you open all this we do the web site (web store).
We will have to open different things to from our side so I'll inform you about all advancement. What depend on our side we will do very fast.
As you are setting up your company Albena Design, Inc will put your web store on the web. This job will be done exclusively by Albena Design, Inc as it will require certain skills and experience in programming and web design. After you are done with company set up and we create your web store we launch our joint project. Albena Design, Inc has a special marketing department that will take every effort to promote and advertise your Internet shop. Already the next day brings in the results. According to the conditions of your Agent Agreement you will be entitled to a 10% commission on net sales made by your affiliate web site.
If you have any questions else please ask me.
Thanks for this information !
They emailed me too. I think its a scam here's what they emailed:
. What you as a Agent will do:
You will need to register a business in your state (city). The company may be registered as a Corporation, LLC, Sole Proprietorship or other business entity.
Please see the file "How to incorporate" I sent you before.
If you already have a company, it's great and will make the start up yet faster.
The cost of opening a small business starts from $200 if you choose the simplest form of business like Sole Proprietorship. The timeframe for a company set-up also differs from state to state and normally registration takes 2-10 business days.
However the cost of setting up could be returned to you from the first profits that your web-store receives (you will take 100% of the first funds until the cost of setting up regained by you and then you will be taking your 10% commission.
All money you will spend for openning everything we will cover after we start to work.
You will get your money back in a week when we start to work, not more.
2. you open the bank business account.
To get the ONLINE ACCESS to the bank account.
To turn on the option: INTERNATIONAL WIRE TRANSFER.
We advice you to open bank business account and merchant account in the same Bank.
We advice the banks: Bank of America (http://www.bankofamerica.com/), Citizens Bank (http://www.citizensbank.com/) and Wells Fargo Bank (http://www.wellsfargo.com/).
3. you open merchant account. ONLY banks. No online merchant service. We advice you to open the merchant account in the same bank where you open bank business account. It's more easy and better than to use the merchant account in other company. All banks I advice you have their own merchant accounts.
While you open all this we do the web site (web store).
We will have to open different things to from our side so I'll inform you about all advancement. What depend on our side we will do very fast.
As you are setting up your company Albena Design, Inc will put your web store on the web. This job will be done exclusively by Albena Design, Inc as it will require certain skills and experience in programming and web design. After you are done with company set up and we create your web store we launch our joint project. Albena Design, Inc has a special marketing department that will take every effort to promote and advertise your Internet shop. Already the next day brings in the results. According to the conditions of your Agent Agreement you will be entitled to a 10% commission on net sales made by your affiliate web site.
If you have any questions else please ask me.
Thanks for this information !
They emailed me too. I think its a scam here's what they emailed:
. What you as a Agent will do:
You will need to register a business in your state (city). The company may be registered as a Corporation, LLC, Sole Proprietorship or other business entity.
Please see the file "How to incorporate" I sent you before.
If you already have a company, it's great and will make the start up yet faster.
The cost of opening a small business starts from $200 if you choose the simplest form of business like Sole Proprietorship. The timeframe for a company set-up also differs from state to state and normally registration takes 2-10 business days.
However the cost of setting up could be returned to you from the first profits that your web-store receives (you will take 100% of the first funds until the cost of setting up regained by you and then you will be taking your 10% commission.
All money you will spend for openning everything we will cover after we start to work.
You will get your money back in a week when we start to work, not more.
2. you open the bank business account.
To get the ONLINE ACCESS to the bank account.
To turn on the option: INTERNATIONAL WIRE TRANSFER.
We advice you to open bank business account and merchant account in the same Bank. ........................... more
Best regards,
Marko Minkov,
Albena Design, Inc. http://www.albenadiz.com/
Yeah,
My friend actually got the same e-mail and its turns out its a scam.
he went through with all the procedures and made money but in the end the company screwed him over because all the money he made was stolen credit card money and now he has to pay it back. Totally a scam don't do this s**t!! at all people. Anything that's to good to be true online usually is.
Hope this helps.
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