Belize vs Seychelles for US Citizen

[LimaDelta]

mandom74 said:
You don't really have to "set up" the FEIE. You either meet the criteria or you don't. It's not super complicated IMO. I've been doing it for years. But I also have no desire to spend any significant time in the USA so frequently I don't use much/any of my 35 days a year.
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Well, yes you do. If you run a business you need to "set it up". If your just an employee then your right, you just need to meet the critira.

 

[LimaDelta]

LimaDelta said:
Well, yes you do. If you run a business you need to "set it up". If your just an employee then your right, you just need to meet the critira.
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I can't edit my post so I will reply to it.

And by set up, I don't neccassrary mean the business, although its more how you "set up" the structure of it. It will be more correct to say, "How you structure your business."

To meet FEIE requirements you will need your US LLC to be owned by an International Corporation, like a Belize IBC. You can't be an employee, otherwise you will still have to pay taxes. Thats why it has to be a corp. You also can't sell your services as an hourly service. Like if your enengineer. No engineering or freelance with this "Set up". You can do freelance but you would have to "set it up" differnetly and I don't remember that process.

You can still sell engineering work or freelancer work and not pay any taxes but you HAVE to hire employees or hire out the work. YOU can't do it, otherwise self employeement taxes apply. They are high like 15.3% if I am not mistaken. Remember for this to work you have to set it out and operate in a way that your the corp. shareholder and your not doing the work.