And so it begins, wonder which other ones are next..?

I think that's about 103% right, Neuhaus. The bozos that suggested it were hucksters, hoping to snare people for self-hyping lessons. Just relating their mantras here - not believing or endorsing them.

However, if I intended to start a bogus "university" to award degrees to others - I'd incorporate it, probably in a jurisdiction far, far away. That way, it would be more difficult to get to me personally, in case liabilities arose.

J.

 

Not necessarily. One-person corporations are allowed in many places. The purpose of the business is often stated in very general terms - e.g. investment companies, that necessarily allow themselves leeway to engage in just about any kind of trading or activity that will (hopefully) make a profit.

I think there are quite a few places in this world where a corporation - particularly a one-person co. - could be set up for oh - not much over $1,000. And I can think of some places where degree mills have been set up that get a 100% corporate tax exemption on profits for 20 years, from the local government!

J.

 

Also, the "real" people behind corporations can be hidden. Like companies set up via Mossack Fonseca an' them, to um...protect the assets of their wealthy clients, who would have remained nameless, were it not for hackers...

J.

 

I have some idea that you can buy a kind of incorporation package from nolo.com for just a few dollars. There are likely some sort of filing fees but I think the whole deal can be done for almost nothing. At the same time, I have no idea how good the software package might be.

 

Yes, you can buy a package, if you want. In N. America, the biggest cost (if you do the work yourself) is the filing fees. And there are ongoing costs. Yearly fees vary - California has one of $800. Here's a chart of the fees by State in US. What Is the Cost to Register a Business? | Chron.com But if I was going to start a degree mill, I would not incorporate it in N. America.

In many foreign jurisdictions, a lawyer will set a company up for a non-resident. In some jurisdictions popular with degree-mill-meisters, the total setup cost including filing fees will go for as little as $1200-$1500. Some of these places offer a 20-year corporate tax holiday, as well.

J.