so you want to sell an Amazon FBA from
Canada great but you're not sure where
to start and you probably have a million
and a half questions like for example
how do I sell in the United States as a
Canadian am I allowed to sell in the US
as a Canadian what kind of LLC or
corporation do I need and where can I
get one as well as what is the best way
for me to actually start making money on
Amazon fast in this video I'm going to
give you all the answers to these
questions if you're a Canadian then you
will come out of this video don't know
every single thing you need to know to
successfully sell on Amazon USA on
Amazon Canada and any other Amazon
Marketplace that you want to sell in as
well I'm gonna share with you the
secrets and the tips and tricks that
I've learned over years of successfully
selling and building up my business on
Amazon at age 20 I quit my corporate
nine-to-five bank job where I was
absolutely miserable and I was just
tired of going to that job of sitting in
a cubicle and I was respecting to myself
I cannot do this for 50 years of my life
and at the time I was $40,000 in college
debt I had no idea how to start any kind
of business but I knew that there had to
be a way and I really believed in the
fact that I could become successful
because there were so many people out
there including Canadians that were
successful with online business so I
quit my job and I went all-in on
building a successful Amazon FBA
business and after a few failures I did
have a few initial failures and it was
quick it was only a few months I hit my
first six figures in the first year of
me selling on Amazon and then I later
hit seven figures about ten months later
and now I'm climbing to eight figures
with all my online businesses
specifically with my online education
business where I'm committed to creating
the world's best online education
platform econ freedom calm for people
who want to start a successful online
business and who want to adopt the
mindset of success want to retrain their
mindset so I can tell you it's been an
absolutely crazy journey it's been the
best journey of my life and I'm so happy
that you are considering starting a
successful online business it's not for
everybody not everybody can succeed but
I believe that if you believe in
yourself and you dream big you think big
and you can persevere there's no reason
why you can't succeed because I was in
the exact same shoes as you are today
back to then you just have to take
action dream big think big persevere and
success will surely come to you so let's
get started with the first question
where can I sell as a Canadian now if
you're a Canadian I highly
commend that you start selling on Amazon
USA and I'm gonna discuss every single
marketplace so every single country on
Amazon then you can sell on and I'm
gonna talk about the pros and cons of
them as well as things that you have to
remember things you have to watch out
for and that will give you a sure I dia
of where you should actually start so as
a Canadian you're allowed to sell on any
Amazon marketplace in the world and it's
amazing because you know you can start
in one country for example in the US and
then you can go on and later expand to
Europe and to Canada and basically
anywhere else in the world there's also
Amazon India Amazon Japan and Amazon as
you know is constantly expanding it's a
rising tide today and it will definitely
be one of the biggest forces in the 21st
century so as a Canadian you're probably
wondering where should I start selling
on Amazon you know there's all these
countries where is the best place for me
to start to actually achieve success the
fastest so I'm gonna give you a
breakdown of each country and you'll
come out of this with hopefully a better
idea of where you should start your
business and where you should launch
your first product so if we start with
the biggest one Amazon USA the United
States a population of about 327 million
and I believe it's higher now it's
always rising so if you look at that
just set that number it's a huge number
and that means that there is a huge
amount of paying customers in the United
States who are you know used to buying
things online and who are like more and
more getting used to buying things
online as we're going through the
e-commerce revolution more and more
people are turning away from retail and
they're going online to buy their stuff
they don't want to you know waste gas
waste time to drive to the store wait
and lie and do any of that they just
want to you know sign up for Amazon
Prime and get one to day shipping right
to their door so that's why I actually
started in Amazon us say my first failed
product was actually on Amazon Canada
because I thought that as a Canadian I
thought Canada would explode just like
the US with the arrival of Amazon but
what I didn't realize was that there's
just way less population in Canada and
so Canada has medium demand a much lower
amount of competition than the United
States the United States has the highest
amount of competition out of all the
Amazon marketplaces and also if you're
selling them Canada then you have to
deal with the weaker dollar so if you
sell something at $30 in Canada that's
only about you know 23 to 25 dollars in
the US now if you look at Amazon Europe
Amazon Europe is insane because the
population in Europe is 741 million I
just googled it and that's crazy that's
like double that's more than
the population in the United States and
so I think that Europe usually comes a
little bit late to these things you know
and I think they're just being slower
with the adoption of e-commerce so
that's why Europe can also be a
fantastic opportunity it is a fantastic
opportunity it's growing incredibly fast
and also if you saw in Europe there's
something called the pan-european FBA
program which allows you to basically
send all your units to an Amazon
warehouse in one country let's say you
want to sell in all of them so UK
Germany France Spain and Italy you don't
have to hold inventory in each Amazon
warehouse in each country you can
descend the units you know to Germany
and then you can actually post listings
from those units all over Europe and
then Amazon will go and actually provide
one or two-day shipping or 2-day
shipping to the UK to Germany to France
to Spain into Italy so all over Europe
from that same warehouse and so that's
why it's a fantastic opportunity and I
highly recommend if you start out with
the US or for with Canada then you
should definitely consider Europe as an
expansion point very soon
now the biggest question I know this
question confuses a lot of people
definitely confuse me when I was first
starting up as a Canadian where do I pay
my taxes now if you are Canadian you'd
actually have to pay any American income
taxes so what you want to do is you want
to set up a corporation and it's called
an incorporation so you want to get
incorporated in Canada and I recommend
doing that in your home province and so
you can do it in for example British
Columbia Ontario Quebec Manitoba Alberta
right so wherever your home province is
there's slightly different tax laws and
tax rates more or less it's the same
across Canada so just go ahead and
create a corporation in your home
province you can also create a federal
corporation and it's a little bit
cheaper to file that to create that at
the beginning but in my opinion I don't
really have too much knowledge about
that so that's why I recommend just
doing your home province that's what I
did and it works great and so for that
the website that I personally use to
file my corporation is lot of depo CA
now you can go to costly route of
actually paying a thousands of dollars
to some lawyer that are some accountant
to do this for you but I don't think
that it's necessary you can just go on
la vie pot CA and there are many
services like this out there that are
that are able to actually create a
corporation for you and it's about when
I didn't I think it was about 500 to 600
Canadian dollars it's about 400 u.s.
now when you create your corporation
that means that you only pay income
taxes in Canada so you pay your
corporate tax in Canada and then you pay
your personal tax wherever you live
there's two kind of tax rates there's
corporate tax and personal tax so if you
live in Canada and you are spending
money there personally then you will pay
your corporate tax in Canada to your
corporation is and then also your
personal taxes your personal income
taxes right so the personal income tax
rate is something different than the
corporate tax rate now in the United
States you don't have to pay anything
other than sales taxes and we're going
to talk about that here later now you
also want to get what's called an EIN in
the US with the IRS the IRS is the tax
authority in the United States they're
the ones that are responsible for
collecting all the taxes and that's
where Americans pay their taxes so
basically you want to get an EIN and you
can do that by just going on the IRS
website I'm gonna do that with you now
so if you go on Google and you type in
get an EIN just click here apply for an
employer identification number and then
you go here and then you click on apply
now you can also call them I believe
right here I think like the phone number
is somewhere here and they'll just give
you a number and what that number is is
basically even if you're Canadian you
are required to file a tax return in the
United States but on that tax return
you're gonna put an EIN on that piece of
paper you're gonna put your EIN and then
you basically tell them in the forum
saying that hey you're Canadian and that
as per the tax treaty between the United
States and Canada you don't actually
have to pay any corporate taxes in
America because you don't have any
physical presence in America and you're
paying taxes in Canada so you don't have
to do that in the US so that's how you
get a business license now in Canada an
LLC is called a corporation and an LLC
is just the American term for limited
liability corporations so in Canada we
call it something different but that's
how you get the LLC and that allows you
to have a legitimate business and you're
not paying personal taxes for everything
that you make because paying personal
taxes as a sole proprietor it's much
much higher than paying corporate taxes
if you have an LC or a corporation that
you set up in Canada now let's talk
about sales tax everybody's favorite
topic where should I pay sales tax
should I start paying sales tax before I
even start selling on Amazon so the rule
is is that sales tax must be paid
wherever you have a significant amount
of business and also it used to be
wherever you actually have a physical
presence where your products are you
know let's say
a warehouse in Texas that means that you
should file for a sales tax permit in
Texas and that's how it used to be but
now the rules have changed a little bit
and now sales tax must be paid or
wherever you have a significant amount
of business now when you're just
starting out on Amazon let's say you're
just starting out you know maybe you
just lost your product or you haven't
even made a dime yet you should not
worry about sales tax okay like sales
tax is something that you should only
worry about when you're making at least
I would say thirty thousand dollars per
month in revenue and that's the rule of
thumb that I recommend and again I'm not
an accountant I'm not a lawyer but this
is something that you know just
basically based on my personal
experience something that if you follow
this I think you'll be good but again
not an accountant you should contact
accountant to make sure but the rule
that I'd go with is once you're making
30k per month in revenue in your
business then you should apply for a
sales tax permit in every single state
where you have significant business so
where you have a lot of units sold so
for example California and New York
Florida now the website that you can use
for setting up sales taxes Avalara com
and that's also a great website for all
your other tax needs like for VAT
setting up in Europe which is something
you'll have to do later if you actually
sell in Europe so a velar com is
fantastic a lot of people worry about
the fact that oh you know maybe you've
made five hundred dollars in revenue on
Amazon you haven't even made any profit
yet and people are worried that the
government's gonna come calling them
knocking on the door saying hey you owe
me ten dollars in taxes and that's just
not the case you know the government
does it doesn't work like that things
don't work like that and what what
actually happens is that when do you do
a significant amount of business that's
when you probably should pay sales tax
and you probably should file for a sales
tax permit and as a Canadian you would
have to file for GST so that's basically
goods and services tax in every province
that you sell at units in so if you're
selling in Amazon Canada then you would
have to file for GSC also when you're
doing a significant amount of business
this is not something you should worry
about when you're just starting out what
I say what I've always said is focus on
making your first thousand dollars per
month and forget about the rest you
don't even need a corporation you don't
even any sales tax permits until you're
doing a significant amount of business
then you actually should incorporate
everything that I'm saying here now
let's talk about bank accounts which
bank accounts do I need for Amazon so
Amazon works like this they'll pay you
in the currency of the country that your
bank account is set up in so a lot of
Canadians what they do is they go to
their bed
and then since they want to sell in the
US they ask their bank to set up a US
dollar account but what happens is is
that there's a difference between a US
dollar account in Canada and a US dollar
account with an American bank if you set
up a US dollar account with CIBC TD RBC
or what happens is is that in that
account as in Canada and you're trying
to plug it into Amazon Amazon just gonna
go and pay in Canadian dollars because
Amazon wants to make their currency fees
they just will not pay US dollars to a
Canadian based bank account well you're
in luck because you're allowed to
actually go and set up cross-border
banking with RBC CIBC rtd as far as
I know it might have set up with and
what has is that yes you can you can
set up a Canadian bank account here
Canadian business bank account in Canada
and then you can also set up an American
based American dollar account in the
United States with Harris which is
like the American equivalent of the Bank
of Montreal which is in Canada and
then when you put that making up the US
dollar bank account in the United States
into Amazon you'll receive payments
there in the US and you can easily
transfer the money between accounts now
let's say you receive the money in the
u.s. account in America and you want to
transfer it over to Canadian dollars
because you need it in candidates
actually use it I recommend using a
website called transferwise comm it's a
fantastic website and the fees that they
take for currency exchange are way lower
than what your bank would take that
transfer wise comm right here and I use
this for transfers all the time it works
anywhere in the world almost and so here
as you can see if you go and try to
transfer $1,000 to CAD there we go
so you get 1313 and then it says he you
could save up to sixty four dollars
versus the average bank and let's say
you want to send more like thirty
thousand US dollars and then there you
go you save almost a thousand US dollars
so 823 83 so that's if you want to
transfer US dollars to Canadian dollars
and it's amazing now if you're living in
Canada and you don't mind paying a
little bit of currency exchange you
don't want to go through the hassle of
you know setting up cross-border banking
with RBC or or your bank then I
recommend just putting in your Canadian
businessman Keon into Amazon Amazon will
convert the u.s. dollars into Canadian
and you will lose some money but to be
honest with you if you're doing like 10
km on 20 K month it's not a big deal it
really only becomes a problem if you're
making a hundred thousand
month on Amazon and so in that case you
definitely want to set up cross-border
banking because then you're gonna be
losing a lot more because it's a
percentage rate that you lose with
currency conversion so there you go
that is everything you need to know to
successfully sell on Amazon us as a
Canadian as well as selling anywhere in
the world now if you're a Canadian and
you're wondering where should I start
hopefully this video actually gave you a
better idea where to start you know
Amazon Europe huge opportunity I would
highly recommend starting to sell on
Amazon u.s. because there you can
actually launch your first product you
can get a lot of traction but there are
some products that are also amazing
opportunities in Canada you really just
have to do product research you have to
put effort in put some time in and
you'll start to kind of see where the
good products are where you should
launch and Amazon is such an insane
growing force in the century that there
are millions of products out there and
there are even more products that are
great to actually start today before we
go I want to share with you some
examples of successful Canadian students
that I personally mentored and for
example here I have Kai she's made
almost 5000 US dollars in her first
month with the first product selling on
Amazon in the US as a Canadian I think
she's from Toronto of the Toronto area
and so she says she's happy she was on
the first page and she's grateful for
all the help from the community and
here's another example of a student in
the confirm community her name is Susan
she's 61 years old and she's making
seventeen thousand dollars per month us
that's almost twenty three thousand
Canadian if my mental math is correct
and she says that she's projecting a
five hundred thousand dollar a year
because it's not her only income source
she's also expanding off to Shopify and
she's also doing about forty thousand
dollars per month there but she started
on Amazon and that was her base so there
are tons of examples of successful
Canadians in the econ freedom course and
training and if the link is down below
to join the price is going up to 997
very soon as I'm restructuring the
website and I'm announcing a brand new
launch of the website so the entire
course when we put on there so if you're
Canadian
there's no reason why you can't just be
like Susan or Kai or even achieve higher
success than them I hope you enjoyed
this video you got value subscribe leave
a like leave me a comment tell me what
you think and telling me what your plan
is as a Canadian what you're gonna do
and when you're launching your product
looking forward to your success and I'll
see you soon
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