Yes you got it somewhat right. Your information will not be on a public register and will be private from the public eye. You won't have to pay any taxes in USA but instead all the profits will pass on to you and your country of residence where ultimately your taxes will be paid.Thank you very much @funk you have been very helpful, really. So the only privacy we will have by forming a Wyoming company would be that there is no public registry means my name will not show up anywhere else. But in regards to tax we will have to pay the tax that may be applicable in the US and make use of DTA's or similiar if such exists to stay tax legal in my own country.
Do you know, is it easy for normal people to get UBO information for a Wyoming LLC or does it require a court order or similar like it was in Cyprus back thses days?
PENALTIES FOR NOT FILING
If you are required to file Form 5472 and you either fail to file or file a substantially incomplete return, the IRS could apply a penalty of $10,000 USD per year. Your company will also be under greater scrutiny from the IRS with possible audits and follow-ups in subsequent years.
Other sources have noted that, while the form instructions state that the penalty is $10,000, the Tax Cuts and Jobs Act recently increased the applicable penalty in Section 6038A(d)(1) from $10,000 to $25,000 beginning in 2018.
Any accountant in USA will be able to help you with 5472. It's not very tough and can be done yourself as well. You have to report all transaction between yourself and the llc you form. Like a P&L statement. I personally don't know of any accountant and you can search for them on the google.
All the company formation agents will hide this 5472 compliance from the customers in the hopes of selling a company. Also, the onus of compliance lies with the owner of the company and not the agent forming the company.
You can read more about 5472 here:
https://<<snippet>>.com/2018/05/14/irs-form-5472-llc/
the basics of your project seems to be to find the CHEAPEST agent providing heavenly services... and setup "I want to know which one is better Wyoming LLC or Delaware LLC?
I have found this agent for a Wyoming LLC Order the Cheapest Wyoming Registered Agent Service can I trust them or is this a scam / fake?
In regards to setup of the company in one or another state, which one has no CRS and is most secure in regards to privacy? Do you know a agent who can setup such companies for cheap?
The Wymoning LLC is considered offshore I guesss so will it be possible to setup a TransferWise borderless account for such an entity?
We can conclude Wyoming LLC nor any other US corp provide any privacy as it comes to tax filing all your information is revealet right?
But if you don't file the tax but just leave it after a year you will never have to provide anything nor will they be able to come after you right?We can conclude Wyoming LLC nor any other US corp provide any privacy as it comes to tax filing all your information is revealet right?
Not bad, thanks for this information it's very useful for most people reading this thread,I have to post 10 words or the message won't get through.... but this link is something to keep in mind for future:
https://dereferer.me/?https://www.i...d-to-crack-down-on-anonymous-shell-companies/
exactly what it means over and out for the USA and their money washing machine.So this means USA will get a public UBO register like the EU?
exactly what it means over and out for the USA and their money washing machine.
any idea how long we have to wait for this?I think it has to pass republican controlled senate first. Republicans voted mostly against this bill so we will see what happens.
Hey, any updates?
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