Wyoming / Delaware LLC from Hong Kong

[Clip]

Hello, I'm a Hong Kong resident with European passport looking for creating an LLC in US. I wont target US or Hong Kong customers, mainly EU and Mainland China. The business is IT consultancy and I can create a Transferwise with the LLC but my concerns are:
- Do the US tax authorities report to HK SAR gov? In HK i don't pay taxes for overseas profits, but I do it if the decisions are made in HK.
- Do Transferwise provde Debit Mastercards for Borderless Business accounts to US? I managed to get one for EU
- Anybody managed to get two Transferwise companies with the same ID?
- Would it be better to put a holding company on top of the US so the taxes are not reported directly?

Also I live in HK with great experience in Crypto, if anybody wants help, just reply me.

Thanks

Toggle signature
Expat in Hong Kong - There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. - John Adams

 

[fshore]

Us reports interest from banks above 10usd a year.
Also there are new reporting requirements‌ from 2017 for foreign owned llcs, so irs sits on a lot of information, but‍ it's not known how they actually use that, probably not any automatic reporting.

No debit⁠ card for us llc.

Not two tw for one login, but you can make a⁤ second login id

No point in holding.

Why not use a HK company taxed 8.5%⁣ up to 2 million. Or ask a local accountant how you can run your us⁢ llc from outside hk only

 

[JohnLocke]

Would would make a HK︀ company a better choice compared to the US LLC ? the exchange of information is︁ the same or not?

 

[fshore]

You mean if hk exchange information with hk? Or do you mean if Hk banks exchange‍ information with ird?

 

[Clip]

HK exchanges information with US for sure. Many US citizens here struggle to open a‌ bank account here, the only way to get one is you have a fat salary‍ or big deposit, seems is a headache for the banks here to be FATCA compliant.⁠

 

[fshore]

That was not your question was it? I don't follow.⁤ You asked about the other way

 

[Clip]

In the Way HK -> US, but dont really‍ know how it works US -> HK

 

[fshore]

[No content provided]

 

[7889]

Everyone sends data to US now (based on FATCA), but US does not send information‌ (automatically) to anyone

 

[Clip]

So if you don’t make that public‍ (LinkedIn, business cards) the tax office won’t notice?

 

[fshore]

They send automatically information on bank accounts‍ that have generated $10 or more in interests.

 

[Clip]

What if that’s a company ?

 

[7889]

I don't understand what you mean. If a non-resident non-citizen‍ alien has bank account in US, and has us-sourced income, then of course he is⁠ liable to pay US taxes, but that information does not leave US and it‘s not⁤ OP's case anyway.

 

[fshore]

It's FATCA, similar to crs, however accounts are only reported if they⁤ generate $10 or more in interest (because irs doesn't know about them if they don't⁣ generate interest).
Im not sure how a foreign owned single member llc is reported. I⁢ think the same as a personal account.

 

[Clip]

So what if I have the money in an EMI like transferwise, nothing gets reported?‌

 

[bibing]

Sorry if I try to get in the way, but do any of you guys‌ knows if by registering a company in HK, the details of the shareholder or directors‍ are shared with Spain or Italy or France if the shareholder/director is a citizen and⁠ resident of any of these countries?

 

[fshore]

Not by just registering the company. However the shareholder and director are public info so‌ Italy and France can look it up freely.

 

[myhand]

Why do you think it is so? of course your‍ account details will get reported??

The registry will not share information, you may open a new thread or you︀ may use Google to search this forum, all this information is already available here and︁ you hijacking OP !

Nominees could protect your from this to happen.

 

[Clip]

They don't report, but⁤ the information is public and cost 20 HKD (2.2 Eur) to check. Your best option⁣ is to have nominees but they need to know you quite well and they are⁢ expensive.

 

[cyprusbanker]

will that still help in⁠ 2020 / 2021 in regards to privacy and anonymity?