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newbie questions offshore + bank account (affiliate)
It's not so straightforward to do this these days with all the reporting and sharing data that goes on. Just so you are 100% clear, you will be evading tax in Spain by running an offshore business.- KraftyAndy
- Post #10
- Forum: General Business Discussions
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UK citizen Italy resident. Need offshore Co and USD a/c
There are other countries like Malta etc. that can be tax efficient, but none of those overcome you main problem. If you live in Italy, have a substantial presence and run the business from there, you ultimately become a tax resident along with your company. The only way around this is to...- KraftyAndy
- Post #11
- Forum: Offshore Bank & EMI Accounts
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UK citizen Italy resident. Need offshore Co and USD a/c
Sure - it involves becoming a resident of countries like UAE, Panama etc.- KraftyAndy
- Post #9
- Forum: Offshore Bank & EMI Accounts
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UK citizen Italy resident. Need offshore Co and USD a/c
This is what the OECD say about tax residency in Italy - https://www.oecd.org/tax/automatic-...istance/tax-residency/Italy-Tax-Residency.pdf For all intents and purposes, you are trying to avoid paying corporation tax in Italy whilst still operating from Italy. Any rational government would...- KraftyAndy
- Post #7
- Forum: Offshore Bank & EMI Accounts
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newbie questions offshore + bank account (affiliate)
Running an offshore business from Spain is the same as running a Spanish business from Spain in terms of taxation:- KraftyAndy
- Post #8
- Forum: General Business Discussions
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UK citizen Italy resident. Need offshore Co and USD a/c
You realise that in terms of taxation, running an offshore business from Italy is no different to running an Italian business from Italy? If you run an offshore company from Italy, it becomes a resident company in Italy for taxation purposes. Place of effective management and corporate...- KraftyAndy
- Post #5
- Forum: Offshore Bank & EMI Accounts
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LeuPay Rejecting Legal, Transparent Businesses
Why do you expect them to give a reason which would mean providing information about their internal procedures?- KraftyAndy
- Post #7
- Forum: Offshore Bank & EMI Accounts
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2Checkout rejecting Delaware companies
If you're not a US resident/citizen, then the US is one of the best places to set up a company. An LLC taxed as a disregarded entity is an extremely tax efficient structure.- KraftyAndy
- Post #7
- Forum: Offshore Company
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2Checkout rejecting Delaware companies
Principal office can be just a mailing/forwarding address. I don't get why you would incorporate a company in the US, then put the principal office overseas. All it does is prevent you from using financial services.- KraftyAndy
- Post #5
- Forum: Offshore Company
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2Checkout rejecting Delaware companies
Just use the mailing address of your registered agent.- KraftyAndy
- Post #3
- Forum: Offshore Company
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US business bank account
You would need to get legal advice on this for a qualified tax attorney. A bank would open the account in the company's name with the managing member as the sole authorised user. So how would you use those banking facilities? You would need to be using his login details and his card number...- KraftyAndy
- Post #42
- Forum: Offshore Bank & EMI Accounts
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US business bank account
Not necessarily - it depends on if you elect to be taxed as a company or a disregarded entity. If you choose to be a disregarded entity (i.e. the entity does not exist for taxation purposes), you are only subject to US tax (at federal level) if you are "engaged in a trade or business in the...- KraftyAndy
- Post #38
- Forum: Offshore Bank & EMI Accounts
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US business bank account
This is fine to setup a bank account, but it creates a potential tax liability as the manager is likely to be seen as a dependent agent by the IRS. Phone them if you don't believe it's possible. All the major banks will open accounts for non-residents. Most of them require you to be there in...- KraftyAndy
- Post #34
- Forum: Offshore Bank & EMI Accounts
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US business bank account
What kind of problems do you envisage?- KraftyAndy
- Post #30
- Forum: Offshore Bank & EMI Accounts
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US business bank account
Wouldn't it have been cheaper for you to fly to the US?- KraftyAndy
- Post #28
- Forum: Offshore Bank & EMI Accounts
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US business bank account
Wells Fargo Everbank Capital One Virtus Bank Smaller credit unions- KraftyAndy
- Post #25
- Forum: Offshore Bank & EMI Accounts
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US business bank account
An example of what?- KraftyAndy
- Post #23
- Forum: Offshore Bank & EMI Accounts
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US business bank account
I have no idea about his service, however the right introducer can open an account for you remotely. For this service, you generally pay quite a premium though.- KraftyAndy
- Post #20
- Forum: Offshore Bank & EMI Accounts
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US business bank account
This is completely incorrect. It is possible to do it - here is one example Stripe Atlas: The best way to start an internet business Wells Fargo will open an account remotely for personal/business if you have an ITIN.- KraftyAndy
- Post #18
- Forum: Offshore Bank & EMI Accounts
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US business bank account
Why pay for something you can do for free? Obtaining a EIN is easy - you just need to fill out the SS-4 and use the HelloFax 30 day free trial to get the fax confirmation from the IRS. An ITIN is completely different and not so easy to get. You need to apply for this to the IRS with your...- KraftyAndy
- Post #16
- Forum: Offshore Bank & EMI Accounts