Register company in Delaware
Open account in Miami
Done deal.
They don't share info, they don't care. They want to become a tax haven.
What are issues with this?
Do not forget a LLC is pass-through, information is eventually shared with UK and EU, so it does not solve the tax residency. I currently have exactly this situation, but tax resident in a semi-offshore.Register company in Delaware
Open account in Miami
Done deal.
They don't share info, they don't care. They want to become a tax haven.
What are issues with this?
Do not forget a LLC is pass-through, information is eventually shared with UK and EU, so it does not solve the tax residency. I currently have exactly this situation, but tax resident in a semi-offshore.
Shouldn’t be...but I won’t feel so safe if i were from UK or EU (which from I actually am).If the profits are kept in a US bank then it shouldn't be any problems.
Shouldn’t be...but I won’t feel so safe if i were from UK or EU (which from I actually am).
Rumors say banks share details, anyway when you invoice a US company usually they require a W-8 form with UBO to avoid US nationals tax fraud, so IRS is aware of your incomes and have enough data to deliver to EU or any other tax office in the world; of course if you sell to consumers such form is not required.IRS has details on every foreign LLC owner...and nobody knows if they share this with EU/UK or don't.
The million dollar question!So basically main fear is that if US is not sharing now, they WILL share in future?
It is NOT a second residency BUT your new residency.What if you get second residency somewhere else and THEN open US company and get bank accounts and broker accounts in some third country?
Tbh, it depends how much you are earning - unless you are from US, IRS can go after you even if you owe them $1...Basically making the mess so convoluted and obstructive that tax man wouldn't bother even trying to find where to start...
First one: “...unless you are from US..”What do you mean by this?
Do you mean IRS would go after US person?
Or IRS would go after non-US person?
This is being reported as per FATCA right?If your country is in this list, you are being reported
https://www.irs.gov/businesses/country-by-country-reporting-jurisdiction-status-table
As I'm HK resident, that's excluded from reporting, and even they do, it's not considered taxable here.
EU here and I know what you mean, at this moment US banks are not reporting but who knows what will they do in the future.
---quote
Updated Oct. 2, 2015 10:27 p.m. ET
"The Internal Revenue Service has kicked off a new program under which it shares large amounts of individuals’ financial-account information with certain foreign countries, the agency said Friday.
The IRS said it received digital information about U.S. taxpayers’ foreign accounts from governments and firms around the world, and it sent information on foreigners’ U.S. accounts to government authorities in as many as 34 countries. While governments have exchanged such information in the past, the sharing wasn’t automatic and the scope was often far narrower. The deadline for the exchange to begin was Sept. 30.
According to the IRS, it will only share information with foreign countries which meet its “stringent safeguard, privacy, and technical standards,” and it has the ability to halt transmissions if it believes the standards aren’t being met.
The IRS declined to say which countries received information from the U.S. This week, the agency added 16 new countries, including Brazil, South Africa and India, to the list of those already eligible to receive financial-account details.
The information exchanged typically includes the name, address, tax identification number, account number, account balance, and dividend and interest payments, among other things. This disclosure applies to accounts above a certain threshold."
Countries eligible to receive information from the IRS about their taxpayers’ U.S. accounts:
--- end quote
- Australia
- Brazil
- Canada
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Gibraltar
- Guernsey
- Hungary
- Iceland
- India
- Ireland
- Isle of Man
- Italy
- Jersey
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Malta
- Mauritius
- Mexico
- Netherlands
- New Zealand
- Norway
- Poland
- Slovenia
- South Africa
- Spain
- Sweden
- United Kingdom
Yes but people here are still not getting yeh message I think. Almost six years old already. Hmm. As I stated earlier USA is bad jurisdiction for keeping anything.
This is only for services, not for goods.Rumors say banks share details, anyway when you invoice a US company usually they require a W-8 form with UBO to avoid US nationals tax fraud, so IRS is aware of your incomes and have enough data to deliver to EU or any other tax office in the world; of course if you sell to consumers such form is not required.
If you have an single-member US LLC, you have to fill every year this form: https://www.irs.gov/pub/irs-pdf/f5472.pdf
So you definitely have to submit detailed information about you and your transactions. Do not mixed the Registry and mandatory tax returns!
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?