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LLC for Greek Resident

#63
Despina said:
No, that's not the same.
All the companies you mentioned have local directors and are tax resident by default in the place of incorporation.

LLC not only is not tax resident (unless you choose to be taxed as C-Corp) and does not have local director/manager.
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It’s pretty much the same thing. The countries he mentions don’t necessarily require a local director as a starting point, he can be the director of the company himself.

However, even if you have a local director, that no longer constitutes substance in 2025, and you will still be taxed on the company’s income!
 
#64
Marzio said:
You said that OP will pay personal taxes from any income in the US LLC.

This means that you understand how Greece treats companies like US LLC and this understanding must come from some source.

To reply to your question I want to see any document that demonstrate that Greece sees US LLC as tax transparent because, unless proven otherwise, there's no concept of tax transparent entities in Greece.

And like Greece there are other countries that treat US LLC like opaque entities.

One of the is UK.

This is a document that says that UK treats US LLC as opaque entities.

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So unless you have proof to substantiate your claims, what you said has 0 value.

I don't care where the company is managed, this is OP problem and if he lied to us I don't care.

The point is that If he manages the company from Greece he will not pay personal taxes. He will pay Greek CIT because US LLC is an opaque entity, like managing UK LTD from Greece.
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take a chill pill and read what I wrote!
 
#65
daniels27 said:
I think the main problem is that the management is effectively in Greece. There is just a freelancer somewhere claiming to be the director.
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Having a freelancer would not solve the problem and would make the company tax resident in Greece liable for CIT.

What if he hires a corporate director that REALLY manages the company in exchange for a cut of the profits?
 
#66
It all comes down to substance and the tax authorities. If you think you can fool them like this, then you’ve been living under a rock for the past 10 years!
 
#67
brianK said:
If you think you can fool them like this, then you’ve been living under a rock for the past 10 years!
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As i said in my previous comment unless you substantiate your claims with something more constructive than "i'm right and you are a fool that has been living under a rock for 10 years" what you say doesn't bring any value to the conversation.

What i was talking about was hiring a company that would act as a manager / director by offering "fractional" services like fractional CMO service, fractional CFO service and so on.

For all the people that aren't smart like you and know it all, CMO, CFO, CEO are key roles in a business but startups usually don't have the initial cashflow to hire them (unless injected with venture funds), that's why fractional services are popping up.

Fractional means that you are hiring those key roles for X hours a week for a fraction of what you would be paying them by working for you full time.

A company like that would provide all the substance needed for tax agencies.

It's not some random freelancer on fiver.

Now you tell me on what grounds a tax agency would deem a company to be tax resident in Greece if key roles are hired offshore.
 
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#68
Marzio said:
It's not some random freelancer on fiver.
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With all due respect, I was trying to explain OP that the Greek guys won't buy his story with a dude from fiverr. We both agree.

Marzio said:
Now you tell me on what grounds a tax agency would deem a company to be tax resident in Greece if key roles are hired offshore.
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Yes. This would work but probably not within the cash appetite of OP.
 
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