Recent content by xnpu

Curious to know this too. After using my home address and personal utility bill for a decade+ with multiple businesses, Wise has now decided this is no longer acceptable for my type of business. I'm now to present a lease or bill in the company name - for each business! doh948""

Yes. It told me that changing the address to Panama was not possible. Support told me to open new account for aforementioned reason. After that they transferred all my stocks.

Yes.

I moved from EU to Panama. This required opening a new account as Panama is handled by a different IBKR entity than my home country in EU. (The system will tell you if this is the case).

Make the life of the application reviewer as easy as possible by having your business simply 'tick all the boxes'. Is it strictly required? Probably not. But why invite the additional scrutiny?

I'm interested in this too.

I think most people arrive at this conclusion due to Codigo Fiscal, article 694. Beyond the examples included in the law itself, I don't find it very straight-forward to be honest. Best consult a lawyer about your specific situation.

Depending on how exactly you're self-employed, I would expect an exit tax on that too. They won't just let you move a business abroad without getting some.

Ah. I overlooked the investors visa. That's not the path I'm following though. Mine is an employment visa (which may be restricted to friendly nations?) and the company merely serves to employ me.

I'm in this now. If you add up lawyer, CPA, immigration, company, taxes on your "salary", etc. you quickly get to 10-12K. It's definitely one of the more expensive routes, but the company+work-permit allow you to get into business locally if you like and your 200/300K won't be stuck if at any...

Could you elaborate on this? I could not find anything that suggests this is the case.

Although I did not get the W9 request (yet), I did end up doing what that YouTube CPA recommended: add another member (for 1%) to my LLC so I can legally use the W9. I have a feeling that Mercury won't be the last with this issue.

If you have no intention of paying they can issue a credit invoice and have the VAT returned. Imho they should avoid this issue by sending pro forma invoices prior to payment, final ones after.