For best privacy and no CRS - Wyoming LLC or Georgia Ltd?

[user9823671]

Maybe you also want to read this thread from me where I tell exactly this,

Missed that link, I'll have a read cheers

that a lot of offshore providers exactly "tell you what you want to hear":

Very much so.

 

[Btraveler]

Great topic, it helps me too. I will not invoice US costumers from my USA LLC. I'll only invoice european citizens, so I think there will be not so much problem

 

[neweraoffshore]

@Btraveler if you are not an US passport holder and have the right structure (or someone cross invoices you with his structure) you can even do business within the US. Of course it's always easier to not do business within the US and I don't recommend to do business within the US, however it is possible even with 0% tax.
Sidefact: That's why this one US company I was talking about got audited by the IRS. Because I was doing this there. No problems, no tax paybacks or other charges and audit was no big deal at all. So 0% even with doing business within the US.

 

[Btraveler]

@Btraveler if you are not an US passport holder and have the right structure (or someone cross invoices you with his structure) you can even do business within the US. Of course it's always easier to not do business within the US and I don't recommend to do business within the US, however it is possible even with 0% tax.
Sidefact: That's why this one US company I was talking about got audited by the IRS. Because I was doing this there. No problems, no tax paybacks or other charges and audit was no big deal at all. So 0% even with doing business within the US.

Thank you @neweraoffshore. Yes. At this point, I've no intention to invoice US customers, only european

 

[fshore]

@Btraveler if you are not an US passport holder and have the right structure (or someone cross invoices you with his structure) you can even do business within the US. Of course it's always easier to not do business within the US and I don't recommend to do business within the US, however it is possible even with 0% tax.
Sidefact: That's why this one US company I was talking about got audited by the IRS. Because I was doing this there. No problems, no tax paybacks or other charges and audit was no big deal at all. So 0% even with doing business within the US.

Do you know what business within the US means?
To invoice us customers does not mean to do business within the US (image how many foreign companies invoice us companies).

If you mean to have operations on us soil and that you still paid 0% tax, then I would not take your advice on that.

 

[bastard]

There is so much information in this thread already going in each it's direction so you better consult a professional to help with a Wyoming LLC before you risk the 10K penalty fee or something even worse

 

[neweraoffshore]

@fshore, yes. Operations on US soil with US Company A. Company A got invoiced by Malta company, Malta got invoiced by Germany, so the money doesn't come directly back. And then US company B invoiced Germany. The profit of US company B was taxed with 0%.
Company A still had a little profit which was taxable, but not worth to mention. Company A got audited and IRS didn't see a problem.

 

[Spinat]

There is so much information in this thread already going in each it's direction so you better consult a professional to help with a Wyoming LLC before you risk the 10K penalty fee or something even worse

I agree, you must do some research on your own and spend some money on professional consultancy before you jump into it.

 

[Remy]

Even if Wyoming doesn't report anything to Taxes administrations of CRS Countries and even you could be right that one day Georgia will meet CRS requirements, in my mind, I prefer much more to set up in an Ex-USSR country than to set up in the big mouth of the American wolf. Who knows what could happen whith his president or the next one about all information he has on you in case of new regulations.

 

[Spinat]

I prefer much more to set up in an Ex-USSR country than to set up in the big mouth of the American wolf. Who knows what could happen whith his president or the next one about all information he has on you in case of new regulations.

I totally agree with you and gave up my corps in the USA for the same reason. I would never trust the USA with my information in such cases.

 

[user9823671]

Even if Wyoming doesn't report anything to Taxes administrations of CRS Countries and even you could be right that one day Georgia will meet CRS requirements, in my mind, I prefer much more to set up in an Ex-USSR country than to set up in the big mouth of the American wolf. Who knows what could happen whith his president or the next one about all information he has on you in case of new regulations.

How is Georgia for protections against foreign companies trying to sue you by twisting foreign laws that are not applicable in Georgia? (using hacking laws because you broke website TOS for example)

 

[Marc Jacob]

Well, it all depends on the tax residency, a guy doing ecommerce and living in Dubai for instance can see a lot of advantages of having a US LLC in regards to payment processors.

 

[lavel]

Well, it all depends on the tax residency, a guy doing ecommerce and living in Dubai for instance can see a lot of advantages of having a US LLC in regards to payment processors.

I agree and as far as your country don't have any agreement and they in Georgia don't apply for CRS regulations there may not be any risk compared to so many other offshore jurisdictions.