Moving 6 figures from US LLC to EU

[JustAnotherNomad]

Pay that money is as capital inot a LLC in a region with no corporate income tax and buy the house for that company. Everything 100% legit and no tax.

bulls**t. Same goes for @Don 's suggestion above.

Not only has the crime already been commited, adding another shell company OP wouldn't make this more legal. Even though the US or Estonia might not tax this, Italy would. And hiding the new company from the Italian tax man would be another crime.

 

[John M]

Move away from Italy, set your tax residence in Bulgaria, declare to Italian tax agency that you are now living in Bulgaria. Bulgaria is Schengen so you can drive unnoticed back to Italy. Do not take the plane, the passenger lists are reported.
Register a company in Bulgaria, pay 10% tax on profit and 5 % dividends.
After one year, you’ll officially return to Italy with the money you’ve “earned” working in Bulgaria

 

[Don]

bulls**t. Same goes for @Don 's suggestion above.

Not only has the crime already been commited, adding another shell company OP wouldn't make this more legal. Even though the US or Estonia might not tax this, Italy would. And hiding the new company from the Italian tax man would be another crime.

You are correct that it doesn't make it legal if tax evasion was committed.
However, using corporate structures is in some countries sometimes a legal way to avoid paying income tax when selling personal assets.

 

[JustAnotherNomad]

You are correct that it doesn't make it legal if tax evasion was committed.
However, using corporate structures is in some countries sometimes a legal way to avoid paying income tax when selling personal assets.

Come on, you know that he can't escape Italian tax by setting up a US LLC with a "PE" (lol) in Estonia.
That would be like claiming he travels to Estonia every day to work from his office there.
Even if he started completely fresh now, this wouldn't work.

 

[daniels27]

Move away from Italy, set your tax residence in Bulgaria, declare to Italian tax agency that you are now living in Bulgaria. Bulgaria is Schengen so you can drive unnoticed back to Italy. Do not take the plane, the passenger lists are reported.
Register a company in Bulgaria, pay 10% tax on profit and 5 % dividends.
After one year, you’ll officially return to Italy with the money you’ve “earned” working in Bulgaria

Why not just leave Europe. They are selling pizza in large quantities outside Italy and the Italian diaspora cooks more authentic food all over the planet.

 

[Don]

Come on, you know that he can't escape Italian tax by setting up a US LLC with a "PE" (lol) in Estonia.
That would be like claiming he travels to Estonia every day to work from his office there.
Even if he started completely fresh now, this wouldn't work.

My dear sir, there is a distinct pleasure in theorizing, as it allows the mind to explore endless possibilities and construct elaborate frameworks of thought.

What if the original poster stumbled upon a cold cryptocurrency wallet, complete with keys, at a humble garage sale, only to discover it held a fortune worth millions? And what if, upon converting it to fiat, he recounted this extraordinary tale to his friend—a banker—offering a convincing source of funds, punctuated with a casual yet confident, "Trust me, bro?"

 

[daniels27]

My dear sir, there is a distinct pleasure in theorizing, as it allows the mind to explore endless possibilities and construct elaborate frameworks of thought.

What if the original poster stumbled upon a cold cryptocurrency wallet, complete with keys, at a humble garage sale, only to discover it held a fortune worth millions? And what if, upon converting it to fiat, he recounted this extraordinary tale to his friend—a banker—offering a convincing source of funds, punctuated with a casual yet confident, "Trust me, bro?"

Casinos also don't offer any paperwork on winnings. Maybe you can tell him that story?

But why are we always suggesting the most illegal methods, particularly when OP is interested in something legal? Why encourage honest people to do illegal actions? Not all here are illegal dudes. Just because some here like it illegal, it does not mean all here like it illegal. Same here.

 

[Why]

Hi everyone,

I formed a US LLC in 2023 as an italian resident and citizen.
Never declared, never moved money to europe, and have both a Chase account (opened physically there) and a couple neobanks.
Only moved small sums to US LLC Wise and then to Personal EU wise.

Since 2024 i am effectively unemployed to the government.

I am looking to buy a house here, so i'd like to figure out how: either move money to Europe somehow (obviously paying taxes, but without busting the whole LLC ideally) or figure out a setup where i can use the money without moving (impossible i think)

Invoicing myself from an italian company seems extremely risky, buying crypto and cashing out perhaps?

Or just open a local business and have fresh money flow there instead of US?

I could get people i know IRL, family members and such, to open local companies if that could help.
Same option feasible in the US, and in 1 other non-EU country i won't disclose.

Any other idea?

Create a new US LLC, buy the property with the new LLC, and you rent if from that LLC as a tenant.

 

[bibing]

fatca works the other way. its not from us to eu in any meaningful way last time i checked

Are you joking or are you serious? FATCA model 1 and model 2 IGA...Have you ever heard of that or are you like most users on OCT who doesn't know nothing about anything but pretend to be Gods?

 

[John M]

Why not just leave Europe. They are selling pizza in large quantities outside Italy and the Italian diaspora cooks more authentic food all over the planet.

Bulgaria, which is an EU country, would issue a tax certificate for that “income” and he can spend money in Italy afer he “comes back”.
Also, he doesn’t actually wants to leave Europe and Bulgaria might be helpful if he wants to leave in Italy under the radar (while registered in Bulgaria)

 

[jeffbean]

Move away from Italy, set your tax residence in Bulgaria, declare to Italian tax agency that you are now living in Bulgaria. Bulgaria is Schengen so you can drive unnoticed back to Italy. Do not take the plane, the passenger lists are reported.
Register a company in Bulgaria, pay 10% tax on profit and 5 % dividends.
After one year, you’ll officially return to Italy with the money you’ve “earned” working in Bulgaria

So you mean invoice the llc from Bulgaria company ?