Best offshore company with Thai residency

[disagree]

I'm talking to many guys with residency in Thailand... and usually when I talk to these guys, they tell me their tax consultants made them incorporate a Hong Kong LTD instead of a US LLC.

There is a specific reason why getting a HK LTD is better than a US LLC with a Thai tax residency?

 

[daniels27]

The US LLC is meant for US residents doing their family business. It creates various troubles in many countries as it can either be a transparent or intransparent vehicle.

I personally would not do it unless I have an underlying company. It really only makes sense in very limited cases, almost all of them are based on the country not enforcing PE rules. Who can recommend doing this?

 

[disagree]

The US LLC is meant for US residents doing their family business. It creates various troubles in many countries as it can either be a transparent or intransparent vehicle.

Yes, but I'm trying to understand in this exact situation why they prefer suggesting HK LTD over US LLC. As I don't see thailand vieweing the LLC as transparent... and also HK LTD having accounting requirements (= money for consultant) makes me think.

 

[daniels27]

I think it is not limited to Thai. Anybody of sound mind would recommend a Hong Kong or Singapore company over a US LLC. It simply bears much less risk.

Any to be honest, if I look at who all has such US LLC, it is only a matter of time until banking etc. becomes very reluctand to deal with those "companies" if you can even call it that.

Look at Amazon, you cannot even register your US LLC. You must then give the tax details of the underlaying vehicle including the personal address. Hence, I would never do this without a company below it. Otherwise, you can open a new Amazon account everytime you change your tax residency. Good luck!