Hello everyone, I have scoured the public forums over the last year and the internet and finally joined the mentor group.
The main question I have is about funding my offshore corp? details below.
1. I am a US citizen living full time in US. I own and operate an NV S-Corp that makes profits and pays my bills and wage so I'm not expecting to draw from my offshore corp and to let profits accumulate offshore. I also trade Cryptocurrency and I want to get all the holdings offshore, mainly for simplicity of reporting trade profits and of course lowering taxes.
2. As far as I can tell a Belize IBC will do the trick. Add corporate directorship service and physical address to avoid being seen as directly managing, and controlling an offshore company. Then possibly down the road have a Sys Trust own the Belize IBC. The offshore corp will take profits for an app service, and also hold institutional trading accounts with crypto exchanges that are not based in the US. The app is hosted outside of the US and Foreign Developers work on the app. I will, however, be placing trades from within the US using a foreign VPN and threw a trading app and bot hosted abroad.
3. FUNDING? Can I simply Hire the Belize IBC to do some consulting or other work for my US corp?
Or have the Belize IBC purchase foreign import goods and drop ship resell them to my S corp for profits?(the sCorp currently purchases custom manufactured parts overseas and resells them to us market)
Or is it best to just pay uncle sam the taxes on my S corp income and then loan the money to the Belize IBC?
What about paying the Belize IBC with a Cryptocurrency transfer directly from US corp exchange account to International corp exchange account?
If my personal name is on foreign crypto exchange accounts will this be an issue?
Additionally, I plan to cover the business as a software, consulting, and purchasing company. I'm not too worried about setting up offshore bank accounts yet. I think LuePay, Mr Tango, or others will do the trick, mostly id be transferring from Crypto exchange to exchange. If anyone knows of a good payment processor that allows Belize IBC please let me know.
Is all this even worth it for under 100K in revenue a year, consider it will start compounding quickly?
Has anyone used Fidelity Overseas for incorporation? Recommendations for other?
Thank you for the advice, and looking forward to learning more and contributing to this community.
The main question I have is about funding my offshore corp? details below.
1. I am a US citizen living full time in US. I own and operate an NV S-Corp that makes profits and pays my bills and wage so I'm not expecting to draw from my offshore corp and to let profits accumulate offshore. I also trade Cryptocurrency and I want to get all the holdings offshore, mainly for simplicity of reporting trade profits and of course lowering taxes.
2. As far as I can tell a Belize IBC will do the trick. Add corporate directorship service and physical address to avoid being seen as directly managing, and controlling an offshore company. Then possibly down the road have a Sys Trust own the Belize IBC. The offshore corp will take profits for an app service, and also hold institutional trading accounts with crypto exchanges that are not based in the US. The app is hosted outside of the US and Foreign Developers work on the app. I will, however, be placing trades from within the US using a foreign VPN and threw a trading app and bot hosted abroad.
3. FUNDING? Can I simply Hire the Belize IBC to do some consulting or other work for my US corp?
Or have the Belize IBC purchase foreign import goods and drop ship resell them to my S corp for profits?(the sCorp currently purchases custom manufactured parts overseas and resells them to us market)
Or is it best to just pay uncle sam the taxes on my S corp income and then loan the money to the Belize IBC?
What about paying the Belize IBC with a Cryptocurrency transfer directly from US corp exchange account to International corp exchange account?
If my personal name is on foreign crypto exchange accounts will this be an issue?
Additionally, I plan to cover the business as a software, consulting, and purchasing company. I'm not too worried about setting up offshore bank accounts yet. I think LuePay, Mr Tango, or others will do the trick, mostly id be transferring from Crypto exchange to exchange. If anyone knows of a good payment processor that allows Belize IBC please let me know.
Is all this even worth it for under 100K in revenue a year, consider it will start compounding quickly?
Has anyone used Fidelity Overseas for incorporation? Recommendations for other?
Thank you for the advice, and looking forward to learning more and contributing to this community.