Possible Offshore Structure Idea

[ernestdezoe]

transferred

Ok but in what sense? What's the trigger for the transfer? Money arriving in a Maltese bank account or just the funds being in the availibility of the person or company which is resident in Malta ?


Because if that's the case good luck policing a guy making say 500k/yr and prevent him to spend in Malta, especially during the summer.

This seems what OP is trying to do with a bank account in the US and him staying in Malta.

Again, one of those rules born out of a beurocrat who has never been on the other side of the fence and never had to plan for , nor enforce the thing he just wrote

 

[Marzio]

If you transfer those money to Malta they are obviously remitted to Malta but then again money sitting in a Swiss bank account under your name that you spend with bank's debit card in Malta are remitted or not? Who knows!

That's exactly the reason why if your offshore company makes > 35K you have to pay 5K taxes.

They are happy because they get their share of money and you are happy because you know nobody will come after you.

 

[uplana]

That's exactly the reason why if your offshore company makes > 35K you have to pay 5K taxes.

if that is the case I would not waste time discussing or hiding a lot. Pay the 5K and keep up the good work.

 

[Marzio]

if that is the case I would not waste time discussing or hiding a lot.

I highly advise to check with a professional. Also remember that the offshore company is considered a CFC but it will be exempt if profits are < 750K and passive income <75K. Make your calculations.

 

[ciccino]

I highly advise to check with a professional. Also remember that the offshore company is considered a CFC but it will be exempt if profits are < 750K and passive income <75K. Make your calculations.

So if I will reach 750 with my LLC I have to open another one to avoid CFC?

 

[Marzio]

So if I will reach 750 with my LLC I have to open another one to avoid CFC?

In that case all the CFC’s will be in your name so the amount over 750k will be taxed.

 

[ciccino]

In that case all the CFC’s will be in your name so the amount over 750k will be taxed.

This will be easily solved moving the residence to Malta or Panama, isn't that so?

 

[Marzio]

or Panama,

Moving to Panama would solve the problem.

 

[ciccino]

Moving to Panama would solve the problem.

Too far away, Malta, Romania or San Marino could be a possible option for me.

 

[Marzio]

San Marino could be a possible option for me.

Then go for it. You could get away with 7% tax for 15 years but you have to deal with some account to set things up.

 

[uplana]

Then go for it. You could get away with 7% tax for 15 years but you have to deal with some account to set things up.

That would be okay, if you can legally pay only 7% then some accounting stuff should not stop you, outsource it and move foward.

 

[Brillo]

Too far away, Malta, Romania or San Marino could be a possible option for me.

I have your similiar situation, and i picked Romania. Have already rented an apartment and I will move there in 2 weeks
culture quite similar to our Italian, very honest cost of living, and 1.55h flight time to Italy.

I was going for Malta than i said: "why i'm really leaving Italy"? Because I want to go to a country where I can save and then reinvest ... so the most logic choice was Romania as Malta is quite expensive

San Marino won't give you residence unless you spent something like 500.000€ or you marry someone there or, you hire 3 San Marino employers in your SM company

 

[thirtyniner]

Can somebody explain once and for all what does "remitted" mean?

It's like one of those words from the 1600s that only a beurocrat would know what it means

Or someone with an offshore account in an English speaking country! "Remittance" is more common then "Transfer".

 

[Marzio]

San Marino won't give you residence unless you spent something like 500.000€ or you marry someone there or, you hire 3 San Marino employers in your SM company

That’s not the case. There’s a new kind of residency that can be obtained without having to start a company there, invest money or hire people.

 

[Brillo]

That’s not the case. There’s a new kind of residency that can be obtained without having to start a company there, invest money or hire people.

Feel free to share source of that, because I cannot see anything like that

 

[Marzio]

Feel free to share source of that, because I cannot see anything like that

Here

 

[uplana]

Here

Not bad, had a very good read and wonder if someone is going to set this up?

 

[Brillo]

Here

That's an old program.
Anyway, it's like flat-rate scheme in Italy. you have a maximum limit of 100.000€ annually... so only for small business

 

[Marzio]

That's an old program

This residency program was introduced in January 2021

Anyway, it's like flat-rate scheme in Italy.

It is not. In Italy you pay 100K flat, in S.Marino you pay 7% starting with 10K minimum.

 

[Brillo]

This residency program was introduced in January 2021


It is not. In Italy you pay 100K flat, in S.Marino you pay 7% starting with 10K minimum.

yes but with 100.000€ maximum, that's what I was saying