Recent content by OffshorePhantom

If you do not plan to live in UAE nor make any business with locals there is no reason to have a company there nowadays, since you will pay the 9% CIT and on top have to keep accounting and also be subject to audits. If you want privacy you can opt in for a US LLC in Wyoming (or New Mexico)...

The FATCA agreement between USA and UAE is not bilateral so no information is exchanged from USA to UAE currently. This is different from Germany, France, Spain, Italy & many others where individual accounts that earn more than $10 in dividends are reported, while companies account not. For a...

I am starting researching on this topic to possible evaluating an investment in farmland. What do you think about Belize to buy farmland ? Seems quiet attractive also in terms of taxes and it seem to have special zones for import export. I was looking at something like this: Deep South Farms -...

SSN can be easily obtained by non-residents too, if you do not have any US source income you will file a 1040-NR but will not pay any taxes.

Interest. But also interests may be subject to withholding since are FDAP (Fixed, Determinable, Annual, Periodical (FDAP) Income | Internal Revenue Service), United States - Corporate - Withholding taxes - see column Interest paid by US obligors in general

Company depositary accounts (like the LLCs) are not reported since they are not subject to FACTA. Personal accounts are usually reported if they earn more than $10 in dividends (but you have to read the FACTA agreement between your country and the USA). For example, if you are a UAE resident...

Yeah, traditional banks most definitely.

Another could be Novel Business Banking or traditional banks like Chase, BoA etc. I am pretty sure there are lot of services :)

Thank you for the info! About the credit card you mentioned are you talking about a personal credit card or a business credit card linked to your business? Yeah to open a bank account even on Mercury, Brex etc you need an EIN. ITIN for those neo banks it is not mandatory though.

Have you been able to open a personal non-resident account with ITIN at Bank of America or Wells Fargo? May I ask what branch have you visited if you opened in person?

The main income of my LLC is not related to dividends, dividends are only a small portion. I receive income from the services I provided outside of the US without any US facility or employees. Then the money I receive from my business are invested in a money market fund and let me earn...

For EIN you have to file form SS-4 (even if not US citizen) and can obtain one from the IRS. Usually services like the one I reported (Firstbase) do this for you. You would need an ITIN only if you receive some US-sourced income that is not subject to Withholding tax and you have to pay taxes...

Nope, all the services that let you register the LLC then advise you to open with Mercury and the others. Mercury is very good if you have a legit business.

You can register an LLC in Wyoming or Delaware using some services like Firstbase | Start and grow a US business from anywhere and then open a bank account for the LLC using Mercury Bank, Brex, Relay & others. Keep in mind also that if you form a single member disregarded entity LLC you have to...

If you are also the manager of the LLC, the LLC will be effectively managed from Dubai even if you do not distribute any profits and you have to register for Corporate Tax and pay 9% tax. We suggested appointing a manager of the LLC who lives in a tax-free country or territorial taxation so...