Gawker Offshore Corporate Structure: Your opinion

[jfugger]

Hi, was reading this article the other day

A Beautiful Way To "Legally" Avoid Paying Taxes And A Legal Settlement | Financial Samurai

From my experience that the most "offshore" you are the less your solutions last and it most difficult it is to reach your target market. Besides you have to be using stealth paypal, VPNs and such, adds a layer of complexity to your operations. If your activity is legal why not do a structure like this in which you just pay 5% to Hungary or other country that the US has a DTA with, and has some laxitude regarding offshore billing in order to transfer profits to the most benevolent jurisdiction. BTW there was not a complaint from the IRS or similar regarding this scheme- yet. Looking forward to your comments and having a healthy discussion.

FYI: I'm not a US Citizen/Resident but would like to do business with US customers.

 

[JohnLocke]

I totally agree, but it requires a larger budget than just money for the registration and setup of your offshore corps. That's properly why people don't think that big.

jfugger said:
If your activity is legal why not do a structure like this in which you just pay 5% to Hungary or other country that the US has a DTA with, and has some laxitude regarding offshore billing in order to transfer profits to the most benevolent jurisdiction.
Click to expand...

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[dotbloup]

I don't think it is a good idea. Tax authorities like stable tax reporting from one year to another. In 2029, the HMRC in UK (tax authority of UK) will see there a 12,8 millions hole and they will start investigate.

It would be better to use Seychelles & Belize companies behind a Cyprus company and create an Agreement. Royalty fees and other fees would be sent to those companies every year.

 

[JohnLocke]

I thought about it as an example not as to someone should structure it in the jurisdictions mentioned on this infographic. So a SC & Belize corp will for sure be better or even better a Seychelles + Cyprus setup to avoid tax.

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[xfighter]

dotbloup said:
It would be better to use Seychelles & Belize companies behind a Cyprus company and create an Agreement. Royalty fees and other fees would be sent to those companies every year.
Click to expand...

Thanks for this description it's what I was looking for to know about.

 

[negon]

dotbloup said:
I don't think it is a good idea. Tax authorities like stable tax reporting from one year to another. In 2029, the HMRC in UK (tax authority of UK) will see there a 12,8 millions hole and they will start investigate.

It would be better to use Seychelles & Belize companies behind a Cyprus company and create an Agreement. Royalty fees and other fees would be sent to those companies every year.
Click to expand...

Do you think the entire drawing is something outdated? No one will actually establish anything in the Caymens any longer unless US citizens or what you think?

 

[ImKing]

auric said:
Caymens any longer unless US citizens or what you think?
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You sure? I Wonder what the richest in the US do 😀

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[hungryit]

That's a great structure if money for consultancy work is not a problem. I don't have so much Money to spend on lawyers to help me 🙁

 

[pesto]

Looks like a really big and expensive setup to me. Do you setup such structure OP?

 

[myhand]

jfugger said:
If your activity is legal why not do a structure like this in which you just pay 5% to Hungary or other country that the US has a
Click to expand...

Because all my information will be public available to anyone and I don't like the idea that I never will be able to do anything in the future business wise unless people will know who am I. It's not appealing to me!moo%¤"

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[brutalzorn]

khan said:
Because all my information will be public available to anyone and I don't like the idea that I never will be able to do anything in the future business wise unless people will know who am I. It's not appealing to me!moo%¤"
Click to expand...

Make sense!

 

[negon]

OP where did you end to register your company or setup this structure?