Recent content by flagfree

You shouldn't be "operating it" from portugal (otherwise it can be considered a portuguese entity). If you ask how to declare it anyway you can find it in the link I posted above, you have all cases posted there.

Can i ask you under what section? (since if you put it under capital gains, it would be taxed)

I'll gladly file everything as much as possible, if it's 0% :D it's such a future-proof protection of "where did you get this money from". Crypto gains, instead, from what I know do not need to be declared, unless falling under taxable condition (kept < 365 days).

Well wait: whatever you get that should be taxed at 0% from abroad, you have to still file. Me missing something?

Wouldn't creating substance forfait the passthrough taxation, since it would become ETBUS? Also, what would be the right way of setting the US LLC up and lowering the risk? From what I read, if it is a partnership (maybe a second 50% member residing outside the US) might? Also trying to figure...

I read that in Panama they give some residency card which is initially bound to your passport, but they are always used as a couple. It is later replaced by a Cedula card, which does not need a Passport anymore (hence why people prefer that). But that's it. Also here states something similar...

Indeed. But you know, you might want to go back to that country one day. If possible I would prefer to stay anonymous, since I have no obligation to declare it unless it surpasses a certain threshold of balance. However, suppose you have a paper residency in Panama, you might end up being tax...

Well this is what's confusing: if you open an account as a resident (and you have an id), Panama is your home country. And that becomes the CRS reporting country. This is different from a person opening an account declaring residency in another country. Hence why I was asking @Marzio if my...

About that: does this mean a panama bank account opened by a foreigner will be reported to his home country, but a panama bank account opened as a panama resident will not? I think banks in their KYC still ask for passport and that identifies your home country, so they know. I am just wondering...

Sorry, upon reading this answer (bit late but I did) I still do not understand... If income is generated from abroad, Panamanian tax is 0%. Having an LLC as a non-us resident is also 0%. So I was wondering what is the advantage of invoicing through an US LLC or directly from Panama, if not for...

I am missing why the need of an LLC. Is it because you need some entity that hides your name? As far as i know it should be possible to invoice directly from Panama yourself from abroad, with the same 0% you would get with an LLC

well sorry i wasnt interested on the italian side, i would be in a different country in EU. But regardless, i would have some tax residency somewhere, and not in Panama, so my issue would be with that country. Lawyers show smth like 15-20 years of experience so in theory that should be one...

I have been on contact with couple of lawyers who offer a setup where you do get permanent residency there, but you do not live there. You would live and have tax residency in another country. You would then invoice clients from panama and just a little bit from your country, to have a low...

Hello! I was wondering if you have any updates on this? I am a swiss resident and I am thinking about the foreign entity with Swiss branch setup, although I cannot see clearly the picture. Would be great to have any feedback on this from someone who dig into this.