Our valued sponsor

correct me if I'm wrong. But doesn't this only matter if you are a US citizen? Say I live in Europe and I'm the beneficial owner of a US LLC, how does FATCA comes into play?
You will need a EIN from the US government for open a Bank account for your US LLC. Its required, no bank will open that account without EIN number to IRS. If you are a non-US citizen they will confirm if no incoming or trade was made in US, if not, then tax will be 0% to you.
FACTA works for all US Companies, include Non-US owners.
 
Thanks for clarification @FullDISK thu&¤#

No one mentioned CIM bank yet - someone knows more about this bank?
 
  • Like
Reactions: clemens
CIM is a good bank but extremely expensive, but they will ask you for all dominees docs... and do not open accounts to US Companies.
Also is a good option for who want to open the account remotely, they only ask for a Skype conference.
 
Hey, I am new on the forums !

I am 19 and live in a country that is in Europe and is in European Union but my country has high tax rates. 100 % of my income is from online sources like YouTube, currency exchange, my online business ( selling clothes ) and sometimes i do some freelance programming work. I have no bank accounts in my country of residence whatsoever and i only got Payoneer account and their debit card but since i actually want to pay taxes i want an offshore bank account.

So i am wondering how could i LEGALLY have all my money on my bank account and spend it on anything from my groceries to buying a new house or a car in my country and worldwide when i am traveling or something.
 
Welcome aboard :)

So i am wondering how could i LEGALLY have all my money on my bank account and spend it on anything from my groceries to buying a new house or a car in my country and worldwide when i am traveling or something.

You can open a bank account for instant in Cyprus with debit card! But legally you won't be able to open an bank account anywhere on this globe unless you pay tax and as long as we speak personal or simple corporate accounts.

Most in your situation are going for EMI accounts!
 
Welcome aboard :)



You can open a bank account for instant in Cyprus with debit card! But legally you won't be able to open an bank account anywhere on this globe unless you pay tax and as long as we speak personal or simple corporate accounts.

Most in your situation are going for EMI accounts!
I actually do want to pay taxes just not to my country because it's high. What should i do ?
 
  • Like
Reactions: clemens
Okay, so you will need to register a company that is controlled and managed abroad, you need to convience your tax office that it is like that which is the hardest part.

Finally you may open a new thread because this conversation will be turning into tax matters more like offshore banking!
 
You will need a EIN from the US government for open a Bank account for your US LLC. Its required, no bank will open that account without EIN number to IRS. If you are a non-US citizen they will confirm if no incoming or trade was made in US, if not, then tax will be 0% to you.
FACTA works for all US Companies, include Non-US owners.
Do you know how to setup a US company with us bank account?
 

Latest Threads