Hi all, long-term traveler here but new member to the group. US citizen now based in Paraguay, looking to incorporate somewhere simply and relatively cheaply to pay myself a salary (FEIE US tax rules) and have 1 or 2 other employees. Am thinking a Panama company with a US or Panamanian bank account and it will own a US LLC with a US bank account or EMI (so no reporting too many foreign accounts to the US) to use merchant accounts and take payments for ecommerce. A fairly typical setup for US expats I suppose. Of course the Panama company would have to be 50/50 owned with a non-US partner to eliminate even more reporting. Everything above board, just keeping the paperwork as simple as possible. Turnover under 100k to start with, probably global clients although some in the US and a few larger existing clients from the EU.
Would a Panama parent company with the US LLC still work in this case for client invoicing and banking? Better than sketchy Belize? I had a PA company a few years ago for the permanent residency but closed it due to unuse as I was only freelancing at the time. Have considered a Romanian company perhaps with 1% tax but it has monthly reporting.
Thanks in advance for your thoughts.
Would a Panama parent company with the US LLC still work in this case for client invoicing and banking? Better than sketchy Belize? I had a PA company a few years ago for the permanent residency but closed it due to unuse as I was only freelancing at the time. Have considered a Romanian company perhaps with 1% tax but it has monthly reporting.
Thanks in advance for your thoughts.
