Moving 6 figures from US LLC to EU

[JustAnotherNomad]

W Fish said:
Pay that money is as capital inot a LLC in a region with no corporate income tax and buy the house for that company. Everything 100% legit and no tax.
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bulls**t. Same goes for @Don 's suggestion above.

Not only has the crime already been commited, adding another shell company OP wouldn't make this more legal. Even though the US or Estonia might not tax this, Italy would. And hiding the new company from the Italian tax man would be another crime.

 

[John M]

Move away from Italy, set your tax residence in Bulgaria, declare to Italian tax agency that you are now living in Bulgaria. Bulgaria is Schengen so you can drive unnoticed back to Italy. Do not take the plane, the passenger lists are reported.
Register a company in Bulgaria, pay 10% tax on profit and 5 % dividends.
After one year, you'll officially return to Italy with the money you've “earned” working in Bulgaria

 

[Don]

JustAnotherNomad said:
bulls**t. Same goes for @Don 's suggestion above.

Not only has the crime already been commited, adding another shell company OP wouldn't make this more legal. Even though the US or Estonia might not tax this, Italy would. And hiding the new company from the Italian tax man would be another crime.
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You are correct that it doesn't make it legal if tax evasion was committed.
However, using corporate structures is in some countries sometimes a legal way to avoid paying income tax when selling personal assets.

 

[JustAnotherNomad]

Don said:
You are correct that it doesn't make it legal if tax evasion was committed.
However, using corporate structures is in some countries sometimes a legal way to avoid paying income tax when selling personal assets.
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Come on, you know that he can't escape Italian tax by setting up a US LLC with a "PE" (lol) in Estonia.
That would be like claiming he travels to Estonia every day to work from his office there.
Even if he started completely fresh now, this wouldn't work.

 

[daniels27]

John M said:
Move away from Italy, set your tax residence in Bulgaria, declare to Italian tax agency that you are now living in Bulgaria. Bulgaria is Schengen so you can drive unnoticed back to Italy. Do not take the plane, the passenger lists are reported.
Register a company in Bulgaria, pay 10% tax on profit and 5 % dividends.
After one year, you'll officially return to Italy with the money you've “earned” working in Bulgaria
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Why not just leave Europe. They are selling pizza in large quantities outside Italy and the Italian diaspora cooks more authentic food all over the planet.

 

[Don]

JustAnotherNomad said:
Come on, you know that he can't escape Italian tax by setting up a US LLC with a "PE" (lol) in Estonia.
That would be like claiming he travels to Estonia every day to work from his office there.
Even if he started completely fresh now, this wouldn't work.
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My dear sir, there is a distinct pleasure in theorizing, as it allows the mind to explore endless possibilities and construct elaborate frameworks of thought.

What if the original poster stumbled upon a cold cryptocurrency wallet, complete with keys, at a humble garage sale, only to discover it held a fortune worth millions? And what if, upon converting it to fiat, he recounted this extraordinary tale to his friend””a banker””offering a convincing source of funds, punctuated with a casual yet confident, "Trust me, bro?"

 

[daniels27]

Don said:
My dear sir, there is a distinct pleasure in theorizing, as it allows the mind to explore endless possibilities and construct elaborate frameworks of thought.

What if the original poster stumbled upon a cold cryptocurrency wallet, complete with keys, at a humble garage sale, only to discover it held a fortune worth millions? And what if, upon converting it to fiat, he recounted this extraordinary tale to his friend””a banker””offering a convincing source of funds, punctuated with a casual yet confident, "Trust me, bro?"
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Casinos also don't offer any paperwork on winnings. Maybe you can tell him that story?

But why are we always suggesting the most illegal methods, particularly when OP is interested in something legal? Why encourage honest people to do illegal actions? Not all here are illegal dudes. Just because some here like it illegal, it does not mean all here like it illegal. Same here.

Last edited: Mar 31, 2025

 

[Why]

bsdc said:
Hi everyone,

I formed a US LLC in 2023 as an italian resident and citizen.
Never declared, never moved money to europe, and have both a Chase account (opened physically there) and a couple neobanks.
Only moved small sums to US LLC Wise and then to Personal EU wise.

Since 2024 i am effectively unemployed to the government.

I am looking to buy a house here, so i'd like to figure out how: either move money to Europe somehow (obviously paying taxes, but without busting the whole LLC ideally) or figure out a setup where i can use the money without moving (impossible i think)

Invoicing myself from an italian company seems extremely risky, buying crypto and cashing out perhaps?

Or just open a local business and have fresh money flow there instead of US?

I could get people i know IRL, family members and such, to open local companies if that could help.
Same option feasible in the US, and in 1 other non-EU country i won't disclose.

Any other idea?
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Create a new US LLC, buy the property with the new LLC, and you rent if from that LLC as a tenant.

 

[bibing]

FATCA said:
fatca works the other way. its not from us to eu in any meaningful way last time i checked
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Are you joking or are you serious? FATCA model 1 and model 2 IGA...Have you ever heard of that or are you like most users on OCT who doesn't know nothing about anything but pretend to be Gods?

 

[John M]

daniels27 said:
Why not just leave Europe. They are selling pizza in large quantities outside Italy and the Italian diaspora cooks more authentic food all over the planet.
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Bulgaria, which is an EU country, would issue a tax certificate for that “income” and he can spend money in Italy afer he “comes back”.
Also, he doesn't actually wants to leave Europe and Bulgaria might be helpful if he wants to leave in Italy under the radar (while registered in Bulgaria)

 

[jeffbean]

John M said:
Move away from Italy, set your tax residence in Bulgaria, declare to Italian tax agency that you are now living in Bulgaria. Bulgaria is Schengen so you can drive unnoticed back to Italy. Do not take the plane, the passenger lists are reported.
Register a company in Bulgaria, pay 10% tax on profit and 5 % dividends.
After one year, you'll officially return to Italy with the money you've “earned” working in Bulgaria
Click to expand...

So you mean invoice the llc from Bulgaria company ?

 

[John M]

jeffbean said:
So you mean invoice the llc from Bulgaria company ?
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Yes, that would be the ideea

 

[Belfort]

The italian government won't go after you for your non declared 100k they don't even know about. Transfer it in small amounts to multiple accounts across the EU and you'll be fine.

 

[Martin Everson]

Belfort said:
Transfer it in small amounts to multiple accounts across the EU and you'll be fine.
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Ok...and you think this solution will work right?

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Dandyline]

Belfort said:
The italian government won't go after you for your non declared 100k they don't even know about. Transfer it in small amounts to multiple accounts across the EU and you'll be fine.
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+1.

 

[Martin Everson]

@Shadow Atlas You have been given a warning and your post deleted for use of personal insult against another user.

Also FATCA has been covered extensively in the forum over the years. And FATCA is bidirectional and automatic for the record as I have discussed on here years ago.

[IMG alt="Martin Everson"]http://localhost/data/avatars/s/8/8698.jpg?1727588489[/IMG]

Post in thread 'Do I understand that US financial institutions DO NOT report non-us person deposits in them?'​

Jan 2, 2018
Just to correct this wrong assertion, FATCA is actually a bilateral agreement with information exchanged in both directions on an automatic basis under certain conditions i.e non-US account holder with US account receives more than $10 in interest in any calendar year. Have a read of a FATCA agreement. That's why US never joined CRS as they already have FATCA and CRS is just a duplication of effort on OECD terms.

Puerto Rico is best AVOIDED, they have had around 22 new banks registered in just the last 2 years. That's a near on 50% increase in banks in Puerto Rico with only one purpose -...

• Martin Everson

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Post in thread 'Do I understand that US financial institutions DO NOT report non-us person deposits in them?'​

Feb 25, 2019

redvern said:
So how can my resident country can know about this and make me pay capital gains taxes? IRS doesn't know it either as I've stated why.
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People never learn 🙄. The IRS is already automatically sending the reciprocal FATCA information to 34 countries it deems credible like I said and more countries are being added ns2. FATCA is bilateral like I said and just because people don't hear the horror stories it does not mean people have not already been caught who have accounts in U.S 🙁. In your case depending on the country you live in they may just send details on the existence...

• Martin Everson

https://www.wsj.com/articles/irs-be...t-information-to-foreign-countries-1443810584

P.S Lets return to thread topic plz.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Aston VIP]

Hey, just a quick note on what you mentioned , there are definitely ways to structure this properly, even when you're dealing with six-figure amounts or more. It's not cheap, but people are doing it every day and much larger sums than what you're talking about are moved without triggering issues when it's done right. The key is to avoid short-term tricks and instead build a setup that works across jurisdictions, respects banking rules, and avoids FATCA or CRS complications. You'd be surprised how flexible things actually are when you use the right type of entities and flow the money correctly.
If this is something you're actively looking to get sorted, happy to share some guidance. It just needs to be done professionally from the start, otherwise you end up cleaning up a mess later.

 

[Martin Everson]

@Shadow Atlas For the last time please do not take the thread of topic.

You can post in below thread if you want to discuss FATCA or create a new one. The subject has been discussed in detail already. If you don't wish to follow the rules your next off topic reply will again be deleted result in a third warning and a ban sadly.

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Post in thread 'Do I understand that US financial institutions DO NOT report non-us person deposits in them?'​

Mar 8, 2018

Educate said:
Ok, can you show the document of FACTA and precise paragraph which states what information is AUTOMATICALLY exchanged at end of year. Where is this said?
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No problem

Article 2 of the FATCA agreement i.e UK/US FATCA agreement (Same for all EU agreements with US)

https://www.treasury.gov/resource-c...es/Documents/FATCA-Agreement-UK-9-12-2012.pdf

It states

"1. Subject to the provisions of Article 3, each Party shall obtain the information specified in paragraph 2 of this Article with respect to all Reportable Accounts and shall annually exchange this information with the other...

• Martin Everson

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.