Making a company actually based in a certain country

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dotpedal

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Nov 22, 2016
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Hey,

I have a Bahamas company and I want to make sure the IRS actually sees my company as a Bahamian company and not an American company that owes them taxes. I live in USA and have an online business. I want to continue living in USA and I can visit Bahamas for around one week per year.

The measures I have in place already are:
* nominee directors
* registered office in bahamas
* website is being hosted in bahamas

What else (if anything) do I need to do to make sure my business is based in bahamas so I owe 0% tax?

Thanks.
 
You need a very good CPA and Tax Lawyer. Honestly as a US citizen you get taxed on worldwide income, and I don't believe this is going to work well for you. Only if you can convience the tax office / IRS that your operation is controlled and managed in the Bahamas you can avoid to be taxed for personal income from the profits the Bahamas company make.

That said, I would recommend you to get a real nominee director that will pick up the phone if they call the office there. Finally I don't believe the IRS to be so stupid that they won't check the address where your company is registered. When they do they may find hundred of companies registered there..

My best advise... get in touch with a local tax lawyer pay him a few thousands to help you.

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Admin said:
Admin said:
You need a very good CPA and Tax Lawyer. Honestly as a US citizen you get taxed on worldwide income, and I don't believe this is going to work well for you. Only if you can convience the tax office / IRS that your operation is controlled and managed in the Bahamas you can avoid to be taxed for personal income from the profits the Bahamas company make.

That said, I would recommend you to get a real nominee director that will pick up the phone if they call the office there. Finally I don't believe the IRS to be so stupid that they won't check the address where your company is registered. When they do they may find hundred of companies registered there..

My best advise... get in touch with a local tax lawyer pay him a few thousands to help you.
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Hey admin, I won't be taking out money from the company. I just wanna make sure the company is based in Bahamas to get a low corporate tax rate.
 
dotpedal said:
dotpedal said:
Hey admin, I won't be taking out money from the company. I just wanna make sure the company is based in Bahamas to get a low corporate tax rate.
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Yes but if you ask your tax office / IRS if they will consider the money you keep in "your company" as taxable or not they will answer you that they will go and tax it. Not fair at all but that's what happen if you don't find a very good tax lawyer locally to help you.

It is just an advise since I know how they can do in European countries and I doubt the USA is more large in such matters.

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Why do you have a company in the Bahamas when you live in Canada or the US? isn't it to ask for trouble?
 
maxmoney said:
maxmoney said:
Why do you have a company in the Bahamas when you live in Canada or the US? isn't it to ask for trouble?
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I would ask the same question. However for an legit setup where double tax treaties are playing a role it may be a good setup considering OP to be in the US or Canada!
 
You need a physical person to be the manager and owner of the company in order to convenience the tax office about what you are planning.
 
If you setup the company with nominees and real person director it will get much easier to convience the local tax office that it is not your company!
 
auric said:
auric said:
If you setup the company with nominees and real person director it will get much easier to convience the local tax office that it is not your company!
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How much we need to get this setup? What I mean we need real person nominees correct?
 
To convience the tax office that the company is controlled and managed abroad it requires som real people in the jurisdiction of the company to speak with. Without nominees this is not possible for obvious reasons 😉
 
auric said:
auric said:
To convience the tax office that the company is controlled and managed abroad it requires som real people in the jurisdiction of the company to speak with. Without nominees this is not possible for obvious reasons 😉
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Have you ever tried to get trouble with your tax office and discuss this? curious to know if someone has been there!
 
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