Tighten the rules while spending infinite money AND raising taxes! It's nuts. They've gone "drunk" on their money-printing machine and the chickens will eventually come home to roost. The advantages the US offered 20 years ago made it "worth it" to "put up with it", but there's no end in sight...
My point is about the future. Once I get out and pay whatever is due, I'm free from those obligations going forward. I want to get out now and pay the exit while my company is still small and worth less, that way when it grows to become larger I will not owe those taxes to the US. It's growing...
What hardships?
The stock markets have never been higher. New all time highs every single day!!!
Digital nothings (cryptocurrencies) are selling for over $30,000 each!!!!!!
Central banks are printing more money than ever before with no end in sight
Governments are disbursing checks so large...
I have been "dating" the US for 20 years. If I wanted to "marry" the US (get citizenship), I'd probably have done it by done. I don't like the idea of marriage. I am a man who believes in keeping one's options open :)
Also, being a citizen would subject me to "worldwide income", even if I left...
sigh.... I don't like rushing on things, but maybe I have to do so here.
The real hold-back is the US green card (LPR). If I apply for residency somewhere else, then I'm de-facto making the decision to give up the LPR (as per the terms of the LPR). And, I should expect they'll find out about...
Thank you both for the input. I was unaware that Panama are closing the Friendly Nations Visa window. I'm not sure that I'm ready to commit to living in Panama just yet.
My general plan was to base the corporation there and continue being a true Nomad for a few more years (perhaps forever, or...
OK, thank you. I thought you were alluding to the fact that the 25% corporate would ultimately have to be paid at some point, even on foreign sourced income, e.g. if it doesn't stay foreign and goes back to Panama corporation. I see now what you were saying.
I will check out Legal500 - Thank...
Can you please help me understand that a bit better?
Assuming I have a Panama corporation and all of my customers are outside of Panama (0 Panama customers), i.e. the "source" of the revenue is coming from customers outside of Panama... what taxes should I expect to pay to Panama?
For example...
25% on Panama-sourced revenue, but 0% on foreign-sourced income. As I mentioned, my (incorrect) assumption was that it would have changed the foreign-sourced income rule to be a minimum of 15%, which of course would have been a big change. from 0%. But that assumption appears to have been wrong.
You're right. After reading more, once I found the actual statement itself, it seems that the "scope" is for much larger companies. My original assumption was that this screwed the ability to have 0% on foreign-sourced income in Panama, since it would be taxed in one location or another...
Well... Panama is on the OECD list of 130 countries that are going to agree to a 15% minimum corporate tax. So... I think I'm going bury what money I have somewhere and close down the business instead. These headaches are just not worth it and all these regulations make me want to become a less...
I have questions about the nuances of this. Maybe you can help...
Say I have 500 subscribers from all over the world, but with 0 in Panama; most in the US but some in Europe, some in Asia, etc. If the Panamanian corporation is billing these foreign customers directly, e.g. using a credit card...
I believe you're right. I need to look further, but based on that like I might be OK if I get them to revoke the greencard (I'm already outside the US right now for 1 month - can easily do a year until they considered it abandoned). But also, these last few years I've had very lot profit/income...
Forgive me if this is same newbie question that's been asked a million times but, after reading the posts on here, I am still unsure of the "best" structure for me given my unique situation.
First about me: I am an EU citizen, but have lived in the US as a green card holder ("LPR") for the last...
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