Hi,
I am a US citizen and permanent HK resident living in HK looking to open a company for my automated crypto day trading activities. I will spend 40+ hours a week and make hundreds of trades a day. I worked as a professional trader at firms in the past and hold Series 56 and Series 7 and also HKSI paper 1. I plan to make over the $100k (so over the foreigner exclusion tax credit). I am looking to open a Seychelles IBC because of its ability to retain profits over $100k. I plan to live abroad for at least 330 days a year.
Questions:
Would the above mean I don't have to pay any taxes legally?
Can I be the only employee/director/shareholder of the company to qualify or do I need to find someone who is not a US citizen to hold 50% or more than 50% of the company?
Thank you
I am a US citizen and permanent HK resident living in HK looking to open a company for my automated crypto day trading activities. I will spend 40+ hours a week and make hundreds of trades a day. I worked as a professional trader at firms in the past and hold Series 56 and Series 7 and also HKSI paper 1. I plan to make over the $100k (so over the foreigner exclusion tax credit). I am looking to open a Seychelles IBC because of its ability to retain profits over $100k. I plan to live abroad for at least 330 days a year.
Questions:
Would the above mean I don't have to pay any taxes legally?
Can I be the only employee/director/shareholder of the company to qualify or do I need to find someone who is not a US citizen to hold 50% or more than 50% of the company?
Thank you