Seeking Insights and Strategies for Offshore Business
- Thread starter techamok
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Hi,
Living in the south-east of Europe. Interested in optimizing taxes, legally of course.
Looking to form an LLC that will provide IT Consulting services to customers around the world.
From what I gather so far, Wyoming, New Mexico would be interesting options.
Banking wise, Chase gave me some info, in terms of required documentation to open a corporate account by visiting the US:
Two forms of ID - drivers/passport + debit/credit card/utility bill
Certificate of formation
Company EIN
Based on your experience, is something missing here, or am I on the right track?
Thanks,
Kind regards
Living in the south-east of Europe. Interested in optimizing taxes, legally of course.
Looking to form an LLC that will provide IT Consulting services to customers around the world.
From what I gather so far, Wyoming, New Mexico would be interesting options.
Banking wise, Chase gave me some info, in terms of required documentation to open a corporate account by visiting the US:
Two forms of ID - drivers/passport + debit/credit card/utility bill
Certificate of formation
Company EIN
Based on your experience, is something missing here, or am I on the right track?
Thanks,
Kind regards
You are missing that your country of residence will want its slice of the pie because your US LLC company will be tax resident where you live.
Then you can probably forget about this. I mean, unless your country's tax authority does not enforce the law.
Has it never occurred to you that if all you had to do to lower your taxes was to register a company for $200 or so, everybody would do it? Do you really think you are so much smarter than everybody else that nobody else has ever thought of this? I don't mean that in a condescending way, I just really don't understand why people don't immediately realize this couldn't possibly work?
Hi,
Does this apply even when I am not in the country long enough to be tax resident by law?
For example my country applies the 183 day rule, so people working on cruise ships etc. (just as an example) are effectively not taxed as they are not in the country for 183 days.
Kind regards
Maybe, he is a friend of @troupos13. We had some good times with him recently. Here is what we found.
[IMG alt="troupos13"]http://localhost/data/avatars/s/42/42465.jpg?1735930261[/IMG]
I am interested in establishing an LLC in Delaware or Wyoming. In Greece, where I reside, there is no clear guidance regarding the tax treatment of LLCs. Even the tax treaty between the USA and Greece does not mention anything specific.
However, there are a few points to consider:
- The tax authority manuals state that profit distributions from offshore companies are taxed as dividends. An LLC makes a profit distribution (not dividends).
- The LLC as a company type exists in Greece, and it distributes dividends (similar to the Greek ΕΠΕ - Limited Liability Company).
There is no...
[IMG alt="troupos13"]http://localhost/data/avatars/s/42/42465.jpg?1735930261[/IMG]
Thread 'LLC for Greek Resident'
Jan 3, 2025I am interested in establishing an LLC in Delaware or Wyoming. In Greece, where I reside, there is no clear guidance regarding the tax treatment of LLCs. Even the tax treaty between the USA and Greece does not mention anything specific.
However, there are a few points to consider:
- The tax authority manuals state that profit distributions from offshore companies are taxed as dividends. An LLC makes a profit distribution (not dividends).
- The LLC as a company type exists in Greece, and it distributes dividends (similar to the Greek ΕΠΕ - Limited Liability Company).
There is no...
- troupos13
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- Forum: Offshore Company
You then just have the PE risk. Most countries consider you tax resident if you perform work there in a permanent establishement. Depends on the circumstances etc. If it is your citizenship country where you grew up, it is most likely not to work, espcially if you have a nice office there and showroom etc. and are just out of the country 7 months on business travel.
If you spend 5 months in Albania, 5 months in Kosovo, 5 months in North Macedonia, 5 months in Montenegro, 5 Months in Bosnia & Herzegovina, 5 months Serbia, it probably works.
Hi,
No, I get this point, just researching options to optimize the taxes. I am fairly certain that some taxes will need to be paid in my specific case.
Kind regards
Yes, this is what I was thinking, not to effectively have a PE anywhere, as I was planning to do lots of travel anyways. Not sure if it would be fully legal though, or there are other aspects to consider tax wise.
Are you able and willing to leave your home country? If yes, there are ways. If no, it most often is not worth the risk.
Depends on the laws of your country. If you keep an apartment there or you have a wife and/or kids or similar strong ties, then you would usually remain tax resident.
No apartment, wife, kids, and nothing effectively keeps me linked to my home country. Long-term wise would like to leave it permanently 😉
Then, you can just unregister there. Leave and never show up. You can then live with your US LLC while flying under the radar like we have discussed it here for example
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[COLOR=#b388ff] J [/COLOR]
The most perpetuated tax myths on the internet:
* You cannot be without a tax-residency. If you don't have a tax residency, you will be tax resident in your country of citizenship. (What about a child born to non-Emirati parents in the UAE and the parents permanently leave the UAE to live on a boat after the birth?)
My favorite part about is that they can never point to an applicable law, they refer to "the OECD" or random tax treaties, and they never even understand the sentences they are quoting.
* Tax residency certificates are magical papers that will make any tax inspector cry out...
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Post in thread 'New Philippines FIV Permanent Residency?'
Jan 28, 2025I think Dubai will also do in place of Monaco.
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Post in thread 'Digital Nomad Perpetual Traveler + Apartment in Cyprus = tax ?'
Jan 27, 2025The most perpetuated tax myths on the internet:
* You cannot be without a tax-residency. If you don't have a tax residency, you will be tax resident in your country of citizenship. (What about a child born to non-Emirati parents in the UAE and the parents permanently leave the UAE to live on a boat after the birth?)
My favorite part about is that they can never point to an applicable law, they refer to "the OECD" or random tax treaties, and they never even understand the sentences they are quoting.
* Tax residency certificates are magical papers that will make any tax inspector cry out...
Does it work better if you are young or very old?
Wait, what @drillbill is back! after so many years! I just quoted you hours ago:
https://www.offshorecorptalk.com/threads/dedicated-server-hosting-service.30248/#post-340217
Your posts are legendary!
Last edited: Jan 28, 2025
Between 30 and 40 years old, in full strength 🙂
Would like to use my financial resources effectively, hence the reason for these questions.
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