How to withdraw money? LLC
- Thread starter Kirada
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It's true the US has not signed CRS. That's because they already had FATCA, which is many years older than CRS and does the same thing.
Historically, US has been slow to reciprocate under FATCA, i.e. they were receiving but not sharing information. This has been improving over the last few years, with more data flowing out of the US into other countries, primarily EU. So it's quite likely that France has already or will soon know about your account.
It's not too late to do the right thing and declare your income to the tax authority.
If you want to be somewhat within the︀ law, you could relocate to a tax haven, set up tax residence there, establish tax︁ non-residence in France, and take out your profits. But that might not be legally possible︂ either, depending on how long you have been committing potential tax fraud in France.
Historically, US has been slow to reciprocate under FATCA, i.e. they were receiving but not sharing information. This has been improving over the last few years, with more data flowing out of the US into other countries, primarily EU. So it's quite likely that France has already or will soon know about your account.
It's not too late to do the right thing and declare your income to the tax authority.
If you want to be somewhat within the︀ law, you could relocate to a tax haven, set up tax residence there, establish tax︁ non-residence in France, and take out your profits. But that might not be legally possible︂ either, depending on how long you have been committing potential tax fraud in France.
The US is not in the CRS and do not share automatically with treaty countries, but it will upon request. Some European countries are even issuing request for John Doe summons. Tread carefully here, especially you are from France. There was a very recent case involving a french citizen with a US LLC.
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