Wyoming VS Delaware VS Hong Kong VS Others for eCommerce?

[ATNTESTING]

you have the same regs in thailand as you have in vietnam

I heard it is getting strict in Thailand which is not in Vietnam. But yeah, besides PIT, I also heard as the only owner of the company without staff, we can transfer dividend without having to pay tax... that is not clear yet and I am asking a registered agent in the US.

 

[JackAlabama]

I heard it is getting strict in Thailand which is not in Vietnam. But yeah, besides PIT, I also heard as the only owner of the company without staff, we can transfer dividend without having to pay tax... that is not clear yet and I am asking a registered agent in the US.

south east asia works pretty much the same. iykyk

 

[ATNTESTING]

south east asia works pretty much the same. iykyk

so far no problem in Vietnam but if I am considering US LLC it's because Vietnam usually follows Thailand...

 

[JonnyStekkino]

I heard it is getting strict in Thailand which is not in Vietnam. But yeah, besides PIT, I also heard as the only owner of the company without staff, we can transfer dividend without having to pay tax... that is not clear yet and I am asking a registered agent in the US.

Only Issue I see with the Wyoming seems to be the NRA withholding, which seems to be 30% for non US residents.. idk if there any other way of taking the money, maybe using a service like Xolo or Winglio and then cashing out from there.

 

[ATNTESTING]

Only Issue I see with the Wyoming seems to be the NRA withholding, which seems to be 30% for non US residents.. idk if there any other way of taking the money, maybe using a service like Xolo or Winglio and then cashing out from there.

Ok thanks, good to know. I'll ask the agent how to deal with that. I'll also see with Delaware.

 

[ATNTESTING]

Hello, I see there are annual compliance costs for Wyoming and Delaware LLC. See below. Is that common?

 

[dirtyharry]

With all companies you have annual costs, the one in your screenshot are very low, if that isn't affordable you should not go into any business but start with a 9 to 5 job.

 

[ATNTESTING]

With all companies you have annual costs, the one in your screenshot are very low, if that isn't affordable you should not go into any business but start with a 9 to 5 job.

ok but don't worry about the money I make... I just try to get as much information as I can before doing it. Before I had a company in the Seychelles and it was around 400 usd per year. And now Vietnamese company, I guess it's also around 400 usd.

 

[Clank]

Hello, I see there are annual compliance costs for Wyoming and Delaware LLC. See below. Is that common?

View attachment 7556

Do you pay taxes in the US?

 

[ATNTESTING]

Do you pay taxes in the US?

Not sure what to reply. I haven't started anything so far with US LLC. But I heard 0 tax for non resident with Wyoming and Delaware companies.

 

[Clank]

Not sure what to reply. I haven't started anything so far with US LLC. But I heard 0 tax for non resident with Wyoming and Delaware companies.

If you are not tax resident of the US you don't need any of those packages, a 35$ a year registered agent would work.

 

[ATNTESTING]

If you are not tax resident of the US you don't need any of those packages, a 35$ a year registered agent would work.

oh ok, good to know, thanks. I'll double check with the agent.

If you are not tax resident of the US you don't need any of those packages, a 35$ a year registered agent would work.

This is what the agent replied to me about the packages

1. Franchise Tax: Annually, your company is required to pay the Franchise Tax to the state. This amount is essential for the continued operation and compliance of your LLC within the state.
2. Registered Agent (RA) Fee: It is imperative to maintain a Registered Agent address in the state. The RA fee is required to sustain this address, ensuring that your company remains compliant with state regulations.
3. Federal Tax Filing: Your company is obligated to file federal taxes annually. This ensures adherence to federal tax laws and regulations.
4. Bookkeeping Services: Should you require assistance with bookkeeping, our team is available to provide comprehensive bookkeeping services. Proper bookkeeping is essential for maintaining accurate financial records and ensuring compliance with accounting standards.

So basically, it's still 1788 usd. That is fine to me as long as it's not a rip off.

 

[jafo]

oh ok, good to know, thanks. I'll double check with the agent.


This is what the agent replied to me about the packages

1. Franchise Tax: Annually, your company is required to pay the Franchise Tax to the state. This amount is essential for the continued operation and compliance of your LLC within the state.
2. Registered Agent (RA) Fee: It is imperative to maintain a Registered Agent address in the state. The RA fee is required to sustain this address, ensuring that your company remains compliant with state regulations.
3. Federal Tax Filing: Your company is obligated to file federal taxes annually. This ensures adherence to federal tax laws and regulations.
4. Bookkeeping Services: Should you require assistance with bookkeeping, our team is available to provide comprehensive bookkeeping services. Proper bookkeeping is essential for maintaining accurate financial records and ensuring compliance with accounting standards.

So basically, it's still 1788 usd. That is fine to me as long as it's not a rip off.

I have my own address in the US and never did anything like this!

I would caution you about this. Keep doing a bit of research! This sounds excessive to me.

 

[Clank]

oh ok, good to know, thanks. I'll double check with the agent.


This is what the agent replied to me about the packages

1. Franchise Tax: Annually, your company is required to pay the Franchise Tax to the state. This amount is essential for the continued operation and compliance of your LLC within the state.
2. Registered Agent (RA) Fee: It is imperative to maintain a Registered Agent address in the state. The RA fee is required to sustain this address, ensuring that your company remains compliant with state regulations.
3. Federal Tax Filing: Your company is obligated to file federal taxes annually. This ensures adherence to federal tax laws and regulations.
4. Bookkeeping Services: Should you require assistance with bookkeeping, our team is available to provide comprehensive bookkeeping services. Proper bookkeeping is essential for maintaining accurate financial records and ensuring compliance with accounting standards.

So basically, it's still 1788 usd. That is fine to me as long as it's not a rip off.

Find another registered agent: WYOMING REGISTERED AGENT - $25 A YEAR TOTAL

You don’t need any of this as you are not a US tax payer, he is just trying to make money.

 

[MarkusCostigan]

Guys please avoid writing inaccurate things. LLCs with a non-resident member also have obligations to comply with (resident agent, form requirements: 5472, 1120, FBAR only for > $10k in bank account balance).

Looking for the cheapest solution to save $500 a year is madness.

 

[12345]

Hello, I see there are annual compliance costs for Wyoming and Delaware LLC. See below. Is that common?

View attachment 7556

You don't need to do US bookkeeping then you don't need to do this! If you do (you have a permanent establishment in the US) then you need to do bookkeeping, its quite expensive since salary of accountants in the us are higher than other countries especially countries like Vietnam. You can try hiring indians on fiverr or that but I wouldn't recommend.

Guys please avoid writing inaccurate things. LLCs with a non-resident member also have obligations to comply with (resident agent, form requirements: 5472, 1120, FBAR only for > $10k in bank account balance).

Looking for the cheapest solution to save $500 a year is madness.

No, don't need any forms. 1120 is only for corporations. foreign owned Wyoming/Delaware LLC without PE in the USA then only cost is registered agent + franchise tax. FBAR they don't care about if you are not liable for any taxes in the US, I wouldn't bother

 

[daniels27]

You don't need to do US bookkeeping then you don't need to do this! If you do (you have a permanent establishment in the US) then you need to do bookkeeping, its quite expensive since salary of accountants in the us are higher than other countries especially countries like Vietnam. You can try hiring indians on fiverr or that but I wouldn't recommend.


No, don't need any forms. 1120 is only for corporations. foreign owned Wyoming/Delaware LLC without PE in the USA then only cost is registered agent + franchise tax. FBAR they don't care about if you are not liable for any taxes in the US, I wouldn't bother

You neet the following forms:

• BOI, BE-13 filing required upon incorporation
• EIN, Sales tax registration upon start of the business
• 1120, 5472, FBAR annually, multi-member LLCs also need 1065

You can read all details and how to do it here
https://neubase.co/blog/how-to-star...-run-it-for-24-cents-a-day-87-per-year-total/
Please understand that any missing or late 5472 will cost you $25,000 in fines by IRS.

 

[jafo]

cost you $25,000 in fines by IRS.

How do they plan to collect that from someone overseas?

 

[JonnyStekkino]

Even tho they require all that forms (1120, 5472, 1065), is not that expensive, around $500-600 /year for a tax free setup is not bad, in a country that supports banks and payment gateways.

 

[daniels27]

How do they plan to collect that from someone overseas?

Like this:

I guess they can then block your business accounts with US institutions, hold directors when immigrating, etc. If you do not plan to visit the US and have no inventory, bank accounts there, you may get around it.

And for the record:

• They will grant you first time abatement and forgive you the penalty if you call them (but you can only do this once every three years depending on the fine)
• I supposedly filed two 5472 late. I did file a protective filing 1120-F, which you can file 18 months after the due date and it is still on time. But not the two 5472 that I supposedly filed (I never filed any as it is not required for protective treaty filings). They later apologised for the mistake and sent me a letter giving me access to another first time abatement.

Even tho they require all that forms (1120, 5472, 1065), is not that expensive, around $500-600 /year for a tax free setup is not bad, in a country that supports banks and payment gateways.

Yes, and you can file all yourself. Use search function on OCT and Google, there are many guides.