> ## Documentation Index > Fetch the complete documentation index at: https://whalescorp.mintlify.site/llms.txt > Use this file to discover all available pages before exploring further. # Legal Structure — Offshore Issuer The company acting as the **Issuer / Emitter** is incorporated in a jurisdiction separate from the countries where merchants operate. This is a standard structure for cross-border digital product distribution. Scheme22 ## Why This Works for VAT * Cross-border B2B supply from a non-resident entity means the issuer does not register for VAT in the merchant’s country. * In the EU context, the reverse charge mechanism applies where relevant. The merchant self-accounts if applicable, but only on the value of the service they receive, not on the cheque face value they resell. * The issuer pays taxes only in its own jurisdiction on its own margin or revenue. * Merchants are responsible for their own local tax compliance. This is outside the platform scope. > **Note:** The platform does not classify USDC cheques as financial instruments for the purpose of this model, at least in the initial phase. The cheque is treated as a commercial product, similar to a digital prepaid card. Financial instrument classification may be revisited later as the product matures and regulatory clarity emerges in specific jurisdictions. This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.