Cyprus Account Benefits for US Citizen?

[crownblown]

Internationaloff said:
If a customer can't move out of their own country, the alternative is a panamanian residency exclusively for Business.
Click to expand...

and pay 40K USD for that 😀 it's a little too much for people not doing at least a million US$ a year in black money!

allthewayup said:
From what I understand as a US citizen you have to claim worlwide income, so even if i had an account in CYP i would be filing twice and still end up paying the same amount AS LONG AS I LIVE in US.
Click to expand...

correct!!

allthewayup said:
maybe if I move to Cyprus? that would help? i was wondering if there is a way to be more efficient and still live in US
Click to expand...

yes that would help. I don't believe that you find anything that will work for you after FATCA came into play. All banks and service providers are afraid of the US 😀

 

[belarus]

Not all can move to Cyprus or the offshore jurisdiction of their choice. They are depending on a better solution!

 

[negon]

Flycatcher said:
@Internationaloff Really? I've thought that banks require the UBO, specifically if there are nominee shareholders. Perhaps you use different banks than I do.
Click to expand...

Usually thye require information like that. I have not seen a bank accepting only documents from nominees! But if someone know how to do that please post here.

 

[Batman1]

Corporate companies like Facebook, Apple, Microsoft, American Airlines and many more legally avoid millions in taxes by setting up offshore companies, can't you just do what they do? Set up the same business structure and do as they do. Can someone clarify how the mega-corps legally avoid taxes in the US?

 

[allthewayup]

Batman1 said:
Corporate companies like Facebook, Apple, Microsoft, American Airlines and many more legally avoid millions in taxes by setting up offshore companies, can't you just do what they do? Set up the same business structure and do as they do. Can someone clarify how the mega-corps legally avoid taxes in the US?
Click to expand...

ha I wish I knew man I wish 🙂