Non-resident in the USA and LLC

[copepe]

Hello group!

Let's assume the following scenario:

1. Non-resident in the US creates an LLC. He is a resident of an OECD country.

2. All clients are from North and South America so he does not need a EURO account.

3. He opens an account at Brex/Mercury/Wise or similar. Only one USD account to receive payments and spend.

So far, is there any humane way that the country of tax residence can become aware of this LLC?

Thank you very much for your answers!

 

[Sols]

There is always a risk. Reciprocal FATCA, data leak, whistleblowers, the tax authority auditing you, or something else.

It's 2024 and you're structuring a business as if it's 2004. Or 1994.

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This is the probably the answer to your question.

 

[copepe]

According. Any recommendations/suggestions?

 

[Sols]

If you want to pay less tax, go live in a country that has lower tax.

Don't rely on secrecy.
Don't commit tax evasion.

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This is the probably the answer to your question.

 

[Forester]

copepe said:
Hello group!

Let's assume the following scenario:

1. Non-resident in the US creates an LLC. He is a resident of an OECD country.

2. All clients are from North and South America so he does not need a EURO account.

3. He opens an account at Brex/Mercury/Wise or similar. Only one USD account to receive payments and spend.

So far, is there any humane way that the country of tax residence can become aware of this LLC?

Thank you very much for your answers!
Click to expand...

Sols said:
There is always a risk. Reciprocal FATCA, data leak, whistleblowers, the tax authority auditing you, or something else.

It's 2024 and you're structuring a business as if it's 2004. Or 1994.
Click to expand...

@Sols is completely right.
And as an another example, think about “the spending phase”. If you spend your $$$ just for dinners with your business partners in N&S America and some ice cream and girls there, you will probably be fine (at this moment). But when you acquire a new nice car or an apartement, living in your country... do not consider taxmen to be completely stupid and ignorant. They usually aren't.

Sols said:
If you want to pay less tax, go live in a country that has lower tax.

Don't rely on secrecy.
Don't commit tax evasion.
Click to expand...

Yes.
It is true that there are possibilities to structure your business to ease your tax burden even when living in the high tax country; yet these structures are all but cheap and it usually leads to better company taxing, not personal. Unless you make a 7+ figures, it is not worth building.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[EliasIT]

Forester said:
@Sols is completely right.
And as an another example, think about “the spending phase”. If you spend your $$$ just for dinners with your business partners in N&S America and some ice cream and girls there, you will probably be fine (at this moment). But when you acquire a new nice car or an apartement, living in your country... do not consider taxmen to be completely stupid and ignorant. They usually aren't.
Click to expand...

very well, you need to listen to this man!

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.