You are an executive at a Canadian-based software company and provide services online (SaaS model). Sales in Canada have quadrupled in the past quarter and there is significant interest in the SaaS from all over the world. One of the challenges this company faces is managing significant new sales from abroad. The merchant account provider has suggested we open a foreign-based subsidiary to process sales outside of Canada. we are requested to analyze three locations and select the best location. The three locations are Douglas, Isle of Man; Belize City, Belize, and Hong Kong (PRoC). Topics for possible consideration include reviewing the three locations are globalization, comparative advantage, tariff, and non-tariff barriers, trade regulations, regional trading arrangements, international factor movements and multinationals, foreign exchange and risk strategies, international/regional banking factors, professional support services, taxes, capital flow/repatriation of profits, IP rights/protection, assignment of profit & losses, political and policy direction and country risk/freedom. The document should be no greater than 12 double-spaced pages APA 7th edition. This case is not an exercise in tax evasion, the report will not be hiding profits, skirting laws, or engaging in any other illegal activities. Preferred merchant account rates and growing worldwide sales are the catalysts for opening a subsidiary, but neither should consume scarce space within this case review.