Moving 6 figures from US LLC to EU

[JustAnotherNomad]

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]

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]

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]

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]

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 fortune︀ worth millions? And what if, upon converting it to fiat, he recounted this extraordinary tale︁ to his friend,a banker,offering a convincing source of funds, punctuated with a casual yet confident,︂ "Trust me, bro?"

 

[daniels27]

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 illegal︀ dudes. Just because some here like it illegal, it does not mean all here like︁ it illegal. Same here.

 

[Why]

Create a new︅ US LLC, buy the property with the new LLC, and you rent if from that︆ LLC as a tenant.

 

[bibing]

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]

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]

So you mean invoice the llc from Bulgaria company ?

 

[John M]

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]

Ok...and you think this solution will work right?

 

[Dandyline]

+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.

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

P.S Lets return︎ to thread topic plz.

 

[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 something︀ you're actively looking to get sorted, happy to share some guidance. It just needs to︁ 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.