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So I have my company, which is an LLC which I control, no nominees or else. What is the correct procedure to distribute a dividend, document wise?I men, if my bank asks me 'show me the documents for this transaction' and this transaction is a dividend distribution, is there anything more than a...

per transaction, but banks are allowed, at their own discretion, to signal transactions if they look like a bigger split transactions. So if you send 10 transactions of 9k EUR in the same day, to the same receiver, it's likely this will be considered suspect, while 10 transactions in 10 months...

I remember a conversation during a trip to Geneva between the ( extremely rich ) father of a friend of mine and a couple of swiss. I was around 10. People always wonder what is so wrong in Italy, and they were discussing tax evasion, and they were saying: "how is it possible that in Italy nobody...

I think every country is different, and while in Italy on a fiscal trial it's you that you have to prove that you are innocent and not the state that has to prove that you are guilty, it's still a civil trial and that normally takes 10 years to complete. Then they have to get your money, that's...

Situation is ok, I sent a service contract dated bacl to 2018 and all was good.

For me for this kind of money is enough to just take residency somewhere outside your country, get paid on Transferwise making invoices under your name, and live under the radar. It's as safe as any other solution. I mean, if you live as a digital nomad and are not resident anymore in your home...

Hey so you need to keep two things separate: 1) Tax certificate, which you need to be able to show proof that you have paid taxes in the UAE 2) Residency, which means that you are able to live in the UAE and be treated as a UAE resident, which means that UAE banks will not send any CRS message...

I still think that banks and most of the UAE has not 100% clear how a freelance visa works. I have a freelance visa but the truth is that I'm using it as a remote working visa, since I have an outside LLC, although I do have a client in the UAE which I'm billing under the Freelance Visa. I only...

No it's part of the approach, a LLC is a passthrough entity, so you need to be living in a country where you don't have to pay taxes. Not sure what would happen with a LLC and a country with no CFC rules like Thailand. because tht's what I use, not too much experience with Canda and UK, also...

One thing which could be safe and not too expensive would be a UAE residency with a remote working visa and a LLC in the caribbean ( which are more expensive than USA LLCs but are safer if you work with the US ). Breakdown of costs: LLC in San Vincent and the grenadines - 1k USD A year Remote...

My mother should have paid taxes on the money I sent her, no doubt about it, but in Italy ( and I think in all europe ) the tax authority doesn't get notified about transactions below 10k EURO. so 4 transactions a year of around 5k do not trigger any automatic alarm. And she is 73, getting an...

Yep, they answered: Hello XXX, Thanks for sharing all the information we requested. We've now confirmed your details and your account is ready to use.

This has been going on for 4 years. No transaction was above the 10k Euro mark which triggers automatic reporting to tax authorities and currently SVG is not blacklisted in Italy. Anyway, now we have a consultancy agreement, in case she will be fined for not declaring 15k Euro of income, given...

That's a mistake I made. I didn't have any gain in paying my moter through the company and not through my account after distributing a dividend, given the fact that I'm a UAE resident In any case I suppose that if I provide them with a service agreement between me and the person which received...

well, if my setup depends on the fact that people don't asks questions, it's not a safe setup, I'm doing something illegal, and that's not what I want. I'm not naive, if I am not able to give answers to an EMI witrh no disclosure requirements, that means that my setup is not good.

Well I see it more as that they are doing their job. This is one of the reason why I trust Wise and I would not trust other companies: Wise has done the KYC with me every year in a serious way, which means to me that they are a serious company. I mean, I think my setup is legit and that I'm not...

yes I will stop now, it has been a stupid idea all along, sometimes you do things and you don't think about the consequences. In any case we are talking about pocket money 10/15k a year. She is 73, retired, makes 50k a year from welfare, the old italian welfare, the tax authority came knocking...

Well I can simply make a service agreement where my mother provides consultations about business development or business mentorship. I mean, they don't know it's my mother, it's simply money going out of the account every 3 months. Printed and signed on paper so I can back date it. Which is...

I totally agree with what you say, I'm a UAE resident so I don't have many issue sending me a dividend, And I have 2k USD in wise which I can lose without issues and probably move out before the 14 days grace period ends. The point is, what should I tell Wise?Stupid mistake or make up a fake...

My mother has been receiveing money for 4 years with no problems. For me it's not an issue to send money from the company Wise account to my Wise account and send money to my mother, it would be the same thing. and I can fake a property rental or a consultant contract for wise, but I don't like...