Thank you for your reply, i heard a lot about forex brokers abusing SVG but i don't how much it will affect me getting a business bank account. I will look more into the Cayman Islands. ThanksThe question is hard to answer because it depends on additional context and interest.
But if I can infer that you live in the UK, you have to pay UK tax no matter what you do. So you can form an LLC anywhere. It's equally pointless, in terms of reducing tax burden.
To actually save on tax in a manner that won't have HMRC drag you before court and you ending up with massive penalties or even prison time in the future, you have to relocate to a low-tax jurisdiction.
If you plan to pay full UK tax on all your profits (just as if you were investing personally or through a UK company), and reputability and ease of banking are the key aspects being considered, I'd say Cook Islands, Cayman Islands, or Nevis. SVG has a terrible reputation due to unlicensed forex brokers abusing the poor little island nation. US LLCs should be fine but the US connection makes them toxic to a lot of financial institutions.
I am planning to invest in crypto for the longterm and buy physical Gold and Farm Land. At this time i trade for a institutional company in the USA who pays me a percentage as well as my own accounts.#1 There's no BEST OFFSHORE Jurisdiction for you because it depends on your tax residency, citizenship, monthly turnover, banks' jurisdictions, brokers' jurisdictions and your business goals.
You want a jurisdiction that provides strong privacy? Nevis
You want a transactional bank account for your Nevis company with top tier 1 banks in USA or UK? Forget it, UNLESS you come with MINIMUM 1 Million USD, BUT you BETTER 5 Million EVERY MONTH.
You want an Investment Business Account (Wealth Management) for your Nevis company with top tier 1 banks in USA or UK? Yes very possible. At Least 1 Million MONTHLY.
Here at offshore jurisdictions AND Transactional High Street Banks we play big.
Now let's talk about the broker's jurisdictions...
You want a solid broker? Saxo bank BUT... you may need to speak many times with the most importante people there to make it work for your Nevis company because... they don't like Offshore, unless you're smart and going to help them make money. Now Swear your nevis is not going to be blacklisted by EU because you saxo broker is licensed in EU, if it happens, you better say Good bye to your trading account... because that jurisdiction is blacklisted.
We don't know what may happen at future.
Now let's talk about your business plans?
What do you want to do with your millions? Store them like a pension plan? Invest them in Real Estate like Annaly?
BUY GOLD and hold for years? BUY Crypto and hold for years? Buy stocks and hold for years?
You need to structure it very well because for these options there are many interestings plans.
My input for you is:
1. Research and THEN ask, How to reduce Tax burden for ABCD TAX resident ? How to optimise Tax Obligation for ABCD tax residents?
2. Research your LOCAL LAW and read WHAT THEY TAX, HOW THEY TAX and then try to figure out things that is not within the LAW.
After you have basic info for number 1 and 2, then
3. Research the most used jurisdictions according to the answers provided for number 1 and 2 and what's their relationship with offshore and onshore.
4. Have a good plan as I wrote at the beggining and finally
5. Make a consultation with Local Tax Lawyer and International Tax Lawyer in YOUR Industry for your TAX residency and FOR your Goals.
There are many information you have not provided so don't expect here amazing answers.
All the best.
Now we have a different situation.I am planning to invest in crypto for the longterm and buy physical Gold and Farm Land. At this time i trade for a institutional company in the USA who pays me a percentage as well as my own accounts.
I think the best way, like you said is to make consulation with a Tax Lawyer and International Tax Lawyer. I think Satchel bank accepts LLC crypto/forex and stock traders, i'll have to do some more digging.
My Tax tax residency needs to change for sure.
Thank you
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thank you.LOL. point taken. I made it a lot smaller
i thought everyone likes boratthank you.
it's catchy, I hate it, it probably works
Best Offshore LLC for Individual Day traders in Forex, Stocks and Cryptocurrency?
Can not agree more,
Yes, that's another option and better than US LLC to legally minimize tax, but you need to visit the UAE to open a bank account and also spend X number of days each year to maintain residency if I'm not mistaken.UAE and a business with residency - that might be the easiest way of getting what you need
correct - you have to visit to open a bank account and have to go to the UAE 1 day ever 6 months (which is easy if you are transiting to another country as UAE is a big airline hub)Yes, that's another option and better than US LLC to legally minimize tax, but you need to visit the UAE to open a bank account and also spend X number of days each year to maintain residency if I'm not mistaken.