Recent content by OffshoreSecrets

The OP is a non-resident, non-US citizen operating a single-member LLC. The LLC is a tax-through entity, where any profit the LLC generates, appears as general income on the income tax report of the member. In the case of the OP, since he is not living in the US, and also does not appear to have...

You can become a tax resident in Cyprus with just 60 days spent in the country, given certain conditions. For example you need to rent a place long-term (several people can share an apartment for the residency). You need to either be employed by or own a Cyprus company. Also often it requires...

With the SEPA directive 260/2012 the automatic check of recipient name and IBAN has been completely abandoned in the EU. You could write Donald Duck or Minnie Mouse, as long as the sender and recipient are both EU accounts. Manual checks in the case of suspicion of fraud or very high amounts...

I have a good friend, that is currently facing tax fraud charges in Germany, for earnings on his personal Paypal account, that he didn't report in 2015.

Do you have anything to offer to the payment providers in collateral? Most of the high-risk processors that I know, charge substantial setup fees to enroll clients.

Tax evasion also has legal remifications, as well as hefty fines. If that weren’t the case, everybody would just stop paying taxes, and hope they don’t get caught.

Unless you no longer live in your home country. If you can convince them you live somewhere else now, that's also fine. Some banks just flat out refuse to open bank accounts for non-residents. I think that's not the case with BofA and Capital One. In the end, just try all of them, just assume...

You will need a proof-of-address, ideally a utility bill. Be prepared to walk into a couple of banks, might not work on the first try. Also doesn't hurt to have a reason, why you want to open a bank account. Definitely try Citibank, they tend to open accounts fairly easy.

Lol horrible advice... First off, the amount of taxes you have to pay, has absolutely zero to do with the tax rate of the country in which your bank account is located. Secondly, opening a bank account in a low tax jurisdiction, will not magically make you having to pay less taxes.

My heuristic is this: - I keep it clean when dealing with governments. - I fake the sh** out of documents when dealing with private companies.

A utility bill is highly unlikely. That would mean you have some sort of permanent establishment in the UK, and that would make that company liable to pay taxes on that part of their business in the UK.

In my opinion, there isn't enough actionable advice with Andrew Henderson. Just my two cents. Be aware of CFC rules, and rules of effective management. You can't stay living in let's say Germany, and effectively use a company in let's say Estonia, without having an office, employees or a...

It's not a super easy calculation, and depends on some factors, but if you qualify and have the right business model, you will stay below 10% total tax.

You just don't know what you are talking about, why do you keep talking? An LLC is "tax-transparent", a "tax-nothing". It does NOT get taxed in the US. Only the members of the LLC get taxed in the place where they are personally liable to pay income tax. There is no double taxation! But we've...

For signing up for Stripe, pretty much anything that doesn't look like Dropshipping will work. An agency, consulting, coaching, selling digital products, courses, events, even e-com as long as it looks branded.