Liechtenstein foundation with non-resident council would be considered non-resident in Liechtenstein. I don't︄ see the use of such foundation. It's not a proper set-up. You have to have︅ resident council to meet PE and other requirements and to look serious
Good company to open Foundation in Liechtenstein?
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There is a way hoe foundation with a non dom council members can be still considered to be a local one in Liechtenstein.
It is not in where council members resides. It is ni fact, wher are all important decisions made. Having just a flex desk in Liechtenstein and have, at least on a paper, all important decisions done in Liechtenstein, it is OK.
Law is not set on residency of council members. Important is place where decisions are made.
I know, the most people does not see a difference between this, but there is a difference. As one rule says: Devil in a law is hidden in a details.
Law is not set on residency of council members. Important is place where decisions are made.
I know, the most people does not see a difference between this, but there is a difference. As one rule says: Devil in a law is hidden in a details.
How offshore company director/offshore companies (ok even in reputable jurisdictions like Cyprus) would prove that decisions are made in Liechtenstein? Besides, it has 'flexi desk'
Also there are other risks. If the foundation is controlled by some Cyprus guys. How safe are assets︀ held in such type of foundation? In case of legal claim against foundations does the︁ LI law apply? Can it get tax residency certificate?
Also there are other risks. If the foundation is controlled by some Cyprus guys. How safe are assets︀ held in such type of foundation? In case of legal claim against foundations does the︁ LI law apply? Can it get tax residency certificate?
If all meeting minutes will state exactly, that meeting was held in Liechtenstein, and if there is no way how someone can prove anything else, than it is OK. Liechtenstein is member of︀ a Schengen space. So no one can prove in a reality, where a council board︁ meetings were held.
Assets are as safe with local board members as by foreign board︂ members. Opeople are the same in all standard countries. If you have a foreign board︃ members whom you can trust, your assets are safe. People in Liechtenstein has a 2︄ eyes, 2 hands, 2 legs, 1 head, 1 nose.. the same as anywhere else. In︅ the lagal case against liechtenstein foundation, law of liechtenstein applies.
You can have a tax︆ residencvy certificate for liechtenstein foundation if all decisions are made in Liechtenstein, at least on︇ a paper, and if you have any physical presence there - flexi desk is enough,︈ if tax authority has no other evidence against what you declare.
Assets are as safe with local board members as by foreign board︂ members. Opeople are the same in all standard countries. If you have a foreign board︃ members whom you can trust, your assets are safe. People in Liechtenstein has a 2︄ eyes, 2 hands, 2 legs, 1 head, 1 nose.. the same as anywhere else. In︅ the lagal case against liechtenstein foundation, law of liechtenstein applies.
You can have a tax︆ residencvy certificate for liechtenstein foundation if all decisions are made in Liechtenstein, at least on︇ a paper, and if you have any physical presence there - flexi desk is enough,︈ if tax authority has no other evidence against what you declare.
You (we) have to understand what is a proper setup of the foundation. There is a reason why law firms around the world set this up this way. There is a real difference between a YOLO setup and a strong setup, that would hold against any kind of tax investigation.
I am not sure if you ever had any kind of situation with the tax office (in fact, I had), but this is YOU who has to provide proofs, not them.
Anybody that holds a decent wealth, should never︀ ever cut costs at the bone of the setup.
And I will repeat again,︁ it is wise to consult with the tax advisor/lawyer who has actual experience with this︂ and knows all ins and outs.
I am not sure if you ever had any kind of situation with the tax office (in fact, I had), but this is YOU who has to provide proofs, not them.
Anybody that holds a decent wealth, should never︀ ever cut costs at the bone of the setup.
And I will repeat again,︁ it is wise to consult with the tax advisor/lawyer who has actual experience with this︂ and knows all ins and outs.
Wait, is that easy? why everybody is not doing it? I don't know, to me it sounds to easy to be true
It is too good to be true. In reality, the foundation has to be managed locally by local managers. In todays substance world, where companies are managed from offshore, it's long gone. Of course, in some cases, it could work, but Gediminas is telling the truth that it must be setup correctly to be really useful in reality.
Gediminas is telling, that it has to be set up with a local directors (where there is a council and no directors) and pay him 10K more for mails forwarding and documents forwarding as reseller. He is not lawyer. He just resell.︀ And when there is no reason to pay him 10K more, he will start writing︁ about some proper structuring bla bla
@LoveMyLife, why don't you give us the name, website, and license number of your lawyer friend who has 30 years of experience and can do this type of setup at a fraction of the cost? It would be very helpful for @John89 and as long as you aren't just promoting someone and actually just sharing experiences, I've never seen Admin have any problem with it. He's very reasonable.
But let's also remember those times when @LoveMyLife didn't know the difference between revenue and profit (link), thought you needed billions to get an EU banking license (link), and then there was︀ that time he was absolutely confident that local service providers don't give bulk discounts to︁ agents/resellers (can't find the link, but trust me when I say that it was hilarious︂ to read). I get the impression he has limited experience in this field and that︃ the experience is tarnished by bad resellers who maybe ripped him off. When called out︄ on his nonsense, he tends to resort to calling people resellers and/or socialists; the to︅ him seemingly two worst things you could possibly call someone.
This is coming from someone︆ who frequently mentions working directly mid-tier service providers. From what I've seen, the prices mentioned︇ by @Gediminas are reasonable starting points when properly setting up something like a foundation in︈ Liechtenstein. My only concern is how specific his pricing is, when my experience from working︉ directly with service providers is that the final invoice can be higher or lower depending︊ on the full scope and complexity of services to be rendered.
But let's also remember those times when @LoveMyLife didn't know the difference between revenue and profit (link), thought you needed billions to get an EU banking license (link), and then there was︀ that time he was absolutely confident that local service providers don't give bulk discounts to︁ agents/resellers (can't find the link, but trust me when I say that it was hilarious︂ to read). I get the impression he has limited experience in this field and that︃ the experience is tarnished by bad resellers who maybe ripped him off. When called out︄ on his nonsense, he tends to resort to calling people resellers and/or socialists; the to︅ him seemingly two worst things you could possibly call someone.
This is coming from someone︆ who frequently mentions working directly mid-tier service providers. From what I've seen, the prices mentioned︇ by @Gediminas are reasonable starting points when properly setting up something like a foundation in︈ Liechtenstein. My only concern is how specific his pricing is, when my experience from working︉ directly with service providers is that the final invoice can be higher or lower depending︊ on the full scope and complexity of services to be rendered.
@LoveMyLife if you answer, could you also answers these two you said you knew about it but we are still waiting and those answers will be helpful
https://www.offshorecorptalk.com/threads/would-a-website-make-us-llc-etbus.32287/post-162394https://www.offshorecorptalk.com/th...sident-then-move-to-georgia.32361/post-162361
https://www.offshorecorptalk.com/threads/would-a-website-make-us-llc-etbus.32287/post-162394https://www.offshorecorptalk.com/th...sident-then-move-to-georgia.32361/post-162361
It is great as one Offshore reseller defends second Offshore reseller in their battle︊ for their unreasonable profits received from newbies.. Just try to catch.. I hope, one day︋ will offshore industry free from reselleres with no added value, who are just a mails︌ and documents forwarders..
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