Questions regarding Delaware LLC
- Thread starter zeeoffshore
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https://transferwise.com/help/17/borderless-account/2813542/why-cant-i-get-a-borderless-account
I don't see Lebanon on this list
I don't see Lebanon on this list
I'm not an expert︅ in this area, but will answer to the best of my knowledge, so additional research︆ is likely required for you.
1. Yes
2. I believe in the hundreds of dollars︇
3. Yes and no. Not in America, but Yes for Lebanon or wherever you are︈ a tax resident of
4. Possibly, but my understanding is that there is a crackdown︉ for the banks. This will depend on the size of the money you intend to︊ move. You are a Lebanese person. You come from a country where the average banker︋ thinks terrorist financier, Hezbollah or something like that when they see your passport/name person. They︌ will have to do a bunch of due diligience on you to ensure you aren't︍ a terrorist or you are not a front for Hezbollah washing their money in the︎ US financial system. This means extra cost, this means you better have at least 20-30k️ USD+ for them to want to even take the time and effort to mess with your account.
5. I believe any state. But you may run into problems. Other posters who are American may clarify this for you, but my preliminary research suggests many banks will not want to open a bank account for a foreign national LLC, they know nothing about, especially if you come from a terrorist hotbed (no offense intended). Now add on that you have an anonymous LLC, how are you even going to prove ownership or that you are the director?
6. This is the worse part. You have an︀ anonymous LLC, your bank in Lebanon is likely to stop the money because of anti-terrorism︁ and anti-laundering rules. The bank is going to see an anonymous company sending you 30k︂ a month. That just screams terrorism laundering. They will then ask you for more and︃ more documentation and demand to know who is this person sending you the money, they︄ will demand more and more information until you basically give them everything. At this point,︅ it is 50-50. 50% chance they are happy with your documents which won't show you︆ as the director or owner from an anonymous business they cannot prove you own or︇ are even tied to. 50% chance they shut your account and deny the transaction.
This also makes it useless for purposes of dodging taxes. I get the feeling you might︈ be trying to use it for that purpose. This is not 1979 anymore, you cannot︉ just stick your funds into a foreign account or under a different name and not︊ get caught. Even if you kept your account transfer under the 10k reporting number, they︋ might still flag you for consistently receiving 2k-9k a month = structuring. There are ways︌ to legitimately reduce your taxes down to zero, but hiding it in a US LLC︍ and then wiring it back in a manner you are all but certain to be︎ caught doing it, is not it. Also, once the tax authorities flag your wires, the️ next step is going to be to go to your bankers and pull all the documents the bank demanded you turn over in #6 to prove you own it. See, they will call you and pretend they don't know, so they can catch you on the record lying, then, even if you beat the tax case, they will catch you for sure for lying to investigators and misleading them, perjury etc.
If you are going to dodge your taxes your better bet would be to just put the money into the USA LLC, and buy a "stash house" in USA in a good neighbourhood, withdraw︀ your money from the account and buy a safe and bury it under your basement︁ floor. You know, like that Chinese drug king ping in Mexico did. You'd not owe︂ uncle sam anything as you don't live in usa, didn't earn the money there, so︃ they'd probably not touch you.
Essentially, by sending the money back to Lebanon, you defeat︄ the main possible tax advantages you could gain from the LLC. Why don't you just︅ relocate to Dubai?
1. Yes
2. I believe in the hundreds of dollars︇
3. Yes and no. Not in America, but Yes for Lebanon or wherever you are︈ a tax resident of
4. Possibly, but my understanding is that there is a crackdown︉ for the banks. This will depend on the size of the money you intend to︊ move. You are a Lebanese person. You come from a country where the average banker︋ thinks terrorist financier, Hezbollah or something like that when they see your passport/name person. They︌ will have to do a bunch of due diligience on you to ensure you aren't︍ a terrorist or you are not a front for Hezbollah washing their money in the︎ US financial system. This means extra cost, this means you better have at least 20-30k️ USD+ for them to want to even take the time and effort to mess with your account.
5. I believe any state. But you may run into problems. Other posters who are American may clarify this for you, but my preliminary research suggests many banks will not want to open a bank account for a foreign national LLC, they know nothing about, especially if you come from a terrorist hotbed (no offense intended). Now add on that you have an anonymous LLC, how are you even going to prove ownership or that you are the director?
6. This is the worse part. You have an︀ anonymous LLC, your bank in Lebanon is likely to stop the money because of anti-terrorism︁ and anti-laundering rules. The bank is going to see an anonymous company sending you 30k︂ a month. That just screams terrorism laundering. They will then ask you for more and︃ more documentation and demand to know who is this person sending you the money, they︄ will demand more and more information until you basically give them everything. At this point,︅ it is 50-50. 50% chance they are happy with your documents which won't show you︆ as the director or owner from an anonymous business they cannot prove you own or︇ are even tied to. 50% chance they shut your account and deny the transaction.
This also makes it useless for purposes of dodging taxes. I get the feeling you might︈ be trying to use it for that purpose. This is not 1979 anymore, you cannot︉ just stick your funds into a foreign account or under a different name and not︊ get caught. Even if you kept your account transfer under the 10k reporting number, they︋ might still flag you for consistently receiving 2k-9k a month = structuring. There are ways︌ to legitimately reduce your taxes down to zero, but hiding it in a US LLC︍ and then wiring it back in a manner you are all but certain to be︎ caught doing it, is not it. Also, once the tax authorities flag your wires, the️ next step is going to be to go to your bankers and pull all the documents the bank demanded you turn over in #6 to prove you own it. See, they will call you and pretend they don't know, so they can catch you on the record lying, then, even if you beat the tax case, they will catch you for sure for lying to investigators and misleading them, perjury etc.
If you are going to dodge your taxes your better bet would be to just put the money into the USA LLC, and buy a "stash house" in USA in a good neighbourhood, withdraw︀ your money from the account and buy a safe and bury it under your basement︁ floor. You know, like that Chinese drug king ping in Mexico did. You'd not owe︂ uncle sam anything as you don't live in usa, didn't earn the money there, so︃ they'd probably not touch you.
Essentially, by sending the money back to Lebanon, you defeat︄ the main possible tax advantages you could gain from the LLC. Why don't you just︅ relocate to Dubai?
Hi,
I am not the guy who opened this thread but I have the same problem as him. We both have lebanese passport and living in Lebanon.
Regarding your question "Why couldn't you get a bank account with your Delaware LLC ", do you mean personal account? It is much more difficult to open a personal account than a company account as far as I know.
Any way, you said in your answer of the point 4 above that it is not easy to open an account for the company in US. I beleive it is the same or worse for personal account. Also,︀ I opened a thread under "Offshore Bank Accounts & EMI Accounts" (offshore bank account︁ with a passport from middle east) and I had a confirmation that it is︂ not easy to open an account neither in normal bank nor in EMIs when we︃ are in the following case :
Delaware LLC + lebanese passport + Lebanese Residency
Please have a look on this thread.
Any way, I decided to contact different EMIs explaining︄ the situation and see if they would accept to open an account for me. I've︅ alreadt got the answer from Mollie. They don't accept this configuration even if I replace︆ delaware US by an european country.
Regards
I am not the guy who opened this thread but I have the same problem as him. We both have lebanese passport and living in Lebanon.
Regarding your question "Why couldn't you get a bank account with your Delaware LLC ", do you mean personal account? It is much more difficult to open a personal account than a company account as far as I know.
Any way, you said in your answer of the point 4 above that it is not easy to open an account for the company in US. I beleive it is the same or worse for personal account. Also,︀ I opened a thread under "Offshore Bank Accounts & EMI Accounts" (offshore bank account︁ with a passport from middle east) and I had a confirmation that it is︂ not easy to open an account neither in normal bank nor in EMIs when we︃ are in the following case :
Delaware LLC + lebanese passport + Lebanese Residency
Please have a look on this thread.
Any way, I decided to contact different EMIs explaining︄ the situation and see if they would accept to open an account for me. I've︅ alreadt got the answer from Mollie. They don't accept this configuration even if I replace︆ delaware US by an european country.
Regards
I mean a︅ business account not personal.
I was talking about corporate LLC business accounts and how hard/easy︆ it would be to open such an account for a foreigner in the USA.
So Mollie bank said no?
I'm surprised no banks are really that open to permitting this.︇ Like are there really that many criminals in the financial sector seeking to wash funds.︈
I was talking about corporate LLC business accounts and how hard/easy︆ it would be to open such an account for a foreigner in the USA.
So Mollie bank said no?
I'm surprised no banks are really that open to permitting this.︇ Like are there really that many criminals in the financial sector seeking to wash funds.︈
Nature of business: HR services
Market: Middle East and Africa
No idea about the sales volume. It's a start up business
Market: Middle East and Africa
No idea about the sales volume. It's a start up business
I'm not sure, but I think Mercury agrees to receive transfers in EUR. I think you could create a balance in EUR and another in USD, but it would be better to confirm this information.
Keep in mind that you need to have a business with revenue from the US to be accepted at Mercury. My account was approved but when I tried to receive the first transfer I knew this and they rejected the transfer because my ecommerce has no︀ US customers.
Keep in mind that you need to have a business with revenue from the US to be accepted at Mercury. My account was approved but when I tried to receive the first transfer I knew this and they rejected the transfer because my ecommerce has no︀ US customers.
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