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Hi, Does anybody have success with opening a US bank account for their Offshore (tax haven or not) companies? If yes, do they still cut 30% withholding tax from US based income even though your company is non-resident and taxed somewhere else like Hong Kong or Singapore? Assuming there isn't...

Also, does anyone know if American banks will open a corporate account for a Singapore company? If so, will they cut 30% as withholding tax for US based income?

I wonder how worldfirst managed to convince citibank for US operations...

It's true. That's why I need to make sure this 3 year new startup exemption will work for me. Director's renumeration is also taxed, so does Director's salary (withholding tax).

That's the part I don't understand on IRAS govt. tax website. I sell some service, I got paid, it should be foreign service income but no, they have to make it complicated. Qualifying Conditions for Tax Exemption Under Section 13(9) of the Income Tax Act, tax exemption will be granted when all...

Because there is always a chance that I may not be eligible for it? Imagine you plan to pay low taxes and then hit with 17% flat taxes because somehow your secretary or accountant did something wrong or didn't explain you everything etc.

if my client is a company in the United States and sending payments to Transferwise of my (not incorporated yet) Singapore company, will it be taxed? USA tax rate is over 15% but the money is paid for services (software development) as in independent contractor and USA company don't pay any...

Any updates on this subject? What's your experience if you incorporated Singapore company?

Can you elaborate?

Edit: 3. is for first 3 years only if you're eligible. Which is still cool I guess, especially if you don't make much money.

Hi, I've decided to incorporate in Singapore and benefit from EPC (Exempt Private Company). My source of income is from a company in the USA, and I have two independent contractors overseas as my expenses. While the Secretary service provider answers my questions in detail, IRAS.gov.sg is...

At least you have a Canadian Partner? In my setup, I was planning to be completely foreign (no Canadian partner).

I'm getting USD payment from an American company, I guess that's the problem because name isn't Amazon/Google etc.

Hi, I thought this could help some people understand the scrutiny of new regulations of the banks, no matter where they are. While I had no such problems in the past, it became evident last year for me that freedom of transferring your money between A and B is no more. I have a bank account in...

Whenever I search for tax situation of US LLC companies, everybody says otherwise. for example: https://gwcarter.com/us-tax-guide-for-nonresident-aliens-with-single-member-llc/ Because of that, I'd like to consider a more expensive Ontario LP/LLP to avoid audit/accounting and tax liability but...

That sounds too good to be true? Let's say my only income from an American company and income type is Affiliate (revenue share), but I'm living in overseas. In this case, if I open a bank account in US, does my bank take 30% withholding tax? If my bank account is not in the US but lets say in...

from what I read I still have to pay 30% tax for US sourced income, either it will be paid by the other party who is paying me as witholding tax or banks will do it in the name of IRS.

What would be the tax burden of New Mexico LLC if you're non-resident, non-American foreigner living in overseas? Income would be generated from an American company in another state.

In your country, you can fly under the radar if you don't bring too much money. However, I must warn you, some banks in Turkey do due diligence very hard (TEB and Enpara/QNB Finansbank for example) and they call you and ask you the source of funds if it's sent from a company and not your...

Correct. You still need to show some address in Turkey and a phone number (Turkish mobile sim card) though. Some banks like BNP Paribas (TEB) are not keen opening individual accounts for foreigners, but other banks should be fine.