I heard it is getting strict in Thailand which is not in Vietnam. But yeah, besides PIT, I also heard as the only owner of the company without staff, we can transfer dividend without having to pay tax... that is not clear yet and I am asking a registered agent in the US.
Wyoming VS Delaware VS Hong Kong VS Others for eCommerce?
- Thread starter JonnyStekkino
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so far no problem in Vietnam but if I am considering US LLC it's because Vietnam usually follows Thailand...
Only Issue I see with the Wyoming seems to be the NRA withholding, which seems to be 30% for non US residents.. idk if there any other way of taking the money, maybe using a service like Xolo or Winglio and then cashing out from there.
Ok thanks, good to know. I'll ask the agent how to deal with that. I'll also see with Delaware.
Hello, I see there are annual compliance costs for Wyoming and Delaware LLC. See below. Is that common?
With all companies you have annual costs, the one in your screenshot are very low, if that isn't affordable you should not go into any business but start with a 9 to 5 job.
ok but don't worry about the money I make... I just try to get as much information as I can before doing it. Before I had a company in the Seychelles and it was around 400 usd per year. And now Vietnamese company, I guess it's also around 400 usd.
Not sure what to reply. I haven't started anything so far with US LLC. But I heard 0 tax for non resident with Wyoming and Delaware companies.
oh ok, good to know, thanks. I'll double check with the agent.
This is what the agent replied to me about the packages
This is what the agent replied to me about the packages
- Franchise Tax: Annually, your company is required to pay the Franchise Tax to the state. This amount is essential for the continued operation and compliance of your LLC within the state.
- Registered Agent (RA) Fee: It is︀ imperative to maintain a Registered Agent address in the state. The RA fee is required︁ to sustain this address, ensuring that your company remains compliant with state regulations.
- Federal Tax︂ Filing: Your company is obligated to file federal taxes annually. This ensures adherence to︃ federal tax laws and regulations.
- Bookkeeping Services: Should you require assistance with bookkeeping, our︄ team is available to provide comprehensive bookkeeping services. Proper bookkeeping is essential for maintaining accurate︅ financial records and ensuring compliance with accounting standards.
Find another registered agent: WYOMING REGISTERED AGENT - $25 A YEAR︄ TOTAL
You don’t need any of this as you are not a US tax payer,︅ he is just trying to make money.
You don’t need any of this as you are not a US tax payer,︅ he is just trying to make money.
Guys please avoid writing inaccurate things. LLCs with a non-resident member also have obligations to comply with (resident agent, form requirements: 5472, 1120, FBAR only for > $10k in bank account balance).
Looking for the cheapest solution to save $500 a year is madness.
Looking for the cheapest solution to save $500 a year is madness.
You don't need to do US bookkeeping then you don't need to do this! If you do (you have a permanent establishment in the US) then you need to do bookkeeping, its quite expensive since salary of accountants in the us are higher than other countries especially countries like Vietnam. You can try hiring indians on fiverr or that but I wouldn't recommend.
No, don't need any forms. 1120 is only for corporations. foreign owned︂ Wyoming/Delaware LLC without PE in the USA then only cost is registered agent + franchise︃ tax. FBAR they don't care about if you are not liable for any taxes in︄ the US, I wouldn't bother
No, don't need any forms. 1120 is only for corporations. foreign owned︂ Wyoming/Delaware LLC without PE in the USA then only cost is registered agent + franchise︃ tax. FBAR they don't care about if you are not liable for any taxes in︄ the US, I wouldn't bother
You neet the following forms:︁
https://neubase.co/blog/how-to-star...-run-it-for-24-cents-a-day-87-per-year-total/
Please understand that any missing or late 5472 will︄ cost you $25,000 in fines by IRS.
- BOI, BE-13 filing required upon incorporation
- EIN, Sales tax registration upon start of the business︂
- 1120, 5472, FBAR annually, multi-member LLCs also need 1065
https://neubase.co/blog/how-to-star...-run-it-for-24-cents-a-day-87-per-year-total/
Please understand that any missing or late 5472 will︄ cost you $25,000 in fines by IRS.
Even tho they require all that forms (1120, 5472, 1065), is not that expensive, around $500-600 /year for a tax free setup is not bad, in a country that supports banks and payment gateways.
Like this:
I guess they can then block your business accounts with US institutions, hold directors when immigrating, etc. If you do not plan to visit the US and have no inventory, bank accounts there, you may get around it.
And for the record:
Yes, and you can file all yourself. Use search function on OCT︅ and Google, there are many guides.
I guess they can then block your business accounts with US institutions, hold directors when immigrating, etc. If you do not plan to visit the US and have no inventory, bank accounts there, you may get around it.
And for the record:
- They will grant you first time abatement and forgive you the penalty if you call them (but you can only do this once every three years depending on the fine)
- I supposedly filed two 5472 late. I did file a protective filing 1120-F, which you can file 18 months after the due date and it is still on time. But not the two 5472 that I supposedly filed (I never filed any as it is not︀ required for protective treaty filings). They later apologised for the mistake and sent me a︁ letter giving me access to another first time abatement.
Yes, and you can file all yourself. Use search function on OCT︅ and Google, there are many guides.
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