Recent content by bryanon

Basically pointless these days. The main (only?) advantage of it used to be the ability to register an Estonian company online, but as the banking options for EE entities that have no economic substance in Estonia have disappeared, you're basically in the same boat as you'd be with a BVI or...

That seems to be their modus operandi. I had mine closed a few years ago, after I had used Skrill for over a decade from time to time. Amounts were never large and not even remotely suspicious, but at one point someone (probably a computer) decided my account was too risky. Ever since, I got...

I'm not sure if that's because I'm not logged on, but it doesn't seem that the seller is claiming anything? Either way, one can ask whatever they feel like, regardless of whether it's realistic or not. I can list my old socks on eBay for $500. The market would react by not placing any bids...

Okay so this isn't going to be what you want to hear, but it is what you need to hear. Firstly, registering an LLC is the least of your worries. Pick a state (Wyoming and Delaware are the most popular ones for various reasons), Google for an agent (I've used Incfile but there are literally...

And utterly and completely flawed advice like what you see above is the very reason why you NEVER go to a public forum for something as important as tax advice. Do yourself a favor and speak to a tax attorney, who knows the actual tax laws of both your country of residence, as well as the...

That's a good question, but one that doesn't have a clear cut answer. Here's an article I've found that talks about pretty much that - https://www.afme.eu/en/news/views-from-afme/does-the-gdpr-conflict-with-banking-regulation/. But all in all, the one thing to bear in mind is that the relative...

I second the suggestions of Transferwise and Revolut - both have been good for me. But be prepared to answer questions / prove your source of funds as soon as your total incoming payments hit 50-100k. Estonian e-residency is going through tough times right now. Getting a bank account is painful...

Why not just hop over to the States and get a proper bank account? Surely, if you're so desperate for the account then spending a few days and a few k on a quick trip wouldn't be a major issue, regardless of where you're based.

Correct. The reason why this is happening is that a single member LLC is considered what's called a pass-through entity. This means that the profits of such company aren't taxed on the company level, but rather on an individual level. For a US resident, this just means that they need to report...

I actually sold Centurica already years ago, so can't help there unfortunately.

It's pretty bad / risky to try and hide your income in hopes that your tax man never finds out. But it's 1,000x worse to come to a public forum and post about it, as whenever you do get involved in an investigation this is an additional piece of proof that your tax authority will be very...

International tax planning is an incredibly complex topic and I would never advise making any decisions without speaking to a tax attorney - or rather - several tax attorneys, one in every country that is involved in your structure, but overall there are a few initial points to bear in mind: 1)...

It depends on his country of residence. Some countries (UK, most of Western Europe) tax their residents on their worldwide income, in which case it would be so. Others (Hong Kong, Malaysia, Costa Rica, many Eastern European countries) only tax income that originates from that same country...

Yeah, the 0% income tax on reinvested profits is a nice and fairly unique thing. ALTHOGUH, as of this year, Latvia has actually switched to the same model (but their dividend tax is smaller than Estonia's), and we also have Georgia (where I am now, ironically) that has the same model, but the...

Nice one! When it comes to bank account eligibility, a lot will depend whether the 12 hours is towards the East or the West ;) I'd also recommend you to ring up the smaller / lesser known banks like LHV. Large ones (Swedbank, SEB) are less likely to play ball with you. For your monthly...