Recent content by cryptonite

Not sure about other states, but states like Delaware, Wyoming and Nevada do NOT keep details of their members on their register. Even the IRS have no way of knowing who is behind those LLC’s. So, the IRS cannot share that information if they want to (so far they are not sharing anyway as they...

The waitlist for a family doctor can be more than 3 months. Even after being assigned a family doctor, you may have to wait another 3 months to get an appointment. If a person gets PR, comes in the country and stay for 3 years and applies for citizenship, while using healthcare. In that case...

If you are using a US LLC, then the account will be opened through IBKR US office. If you are a non US resident in that US LLC, then besides a 30% withholding tax (as declared on your W8-BEN) on dividends, all capital gains (short term and long term, as well as crypto) are not subject to tax...

Unlike Australia, which has tax residency rules based on the number of days spent in the country, CRA looks at other factors (spouse/children's residence, bank accounts, storage, library card, etc in Canada). In the past, CRA has found some remote excuses (finding some winter belongings in a...

If the Canadian resident above does not want to move abroad, is it still possible to set up a structure not being subject to the taxes on global income, or reporting that it is a foreign controlled corporation? One way to do that is through a structure in which he is neither a director nor a...

According to Common Reporting Standard (CRS) | IB Knowledge Base, "For accounts held by Interactive Brokers LLC, there is no reporting since the United Sates has not signed the CRS." If a non resident opens an IBKR account with IBKR US using a US LLC (DE, WY, NV), then surely the entity won't...

We don’t plan to use the bank for brokerage. The bank transaction will only be when funding the brokerage account, as the funds will be sitting at the brokerage most of the time, except when taking profits back. You are right in saying that the crypto license is really moot as the firm is...

The problem with banks and crypto is more an issue if the firm is trying to operate as a crypto exchange and/or getting from the public (there are no licenses for that in UAE currently, though they are working on it). One of the approved license type from DMCC is for proprietary crypto...

You can incorporate the Delaware LLC and if it’s a single member, it’ll be considered as pass through entity for tax purpose. You will need an EIN to be able to open a bank account. Most banks will require a visit to the branch to open the account. The bank will produce a tax statement linked to...

Did you manage to open a bank account after getting the DMCC license? There are companies that assist in account opening in Dubai, like Virtuzone. They charge 3000 AED if successful, 500 if unsuccessful. Usually the process is smoother when the client is introduced through these firms.