Recent content by justsomeguy

Good question, i am really not sure. I would probably guess and say no, because its not an Australian entity with a ABN/ACN.

Okay so. For my situation the US LLC works well, have no real issues setting things up or runnings things or dealing with the IRS and filling taxes of $0. Australia considers the US LLC if a single member LLC a passthrough entity, and for tax purposes a partnership in Australia. As you saw...

@Martin Everson appreciate all the info. There is definitely alot i dont understand yet. Just trying to eventually figure out the best possible way forward out of all the options.

Could i not just setup a offshore company in a 0% tax location to be the owner of the US LLC. Run things as is, pay myself a small salary. Then before selling the business setup another offshore company in a 0% tax location, transfer the proceeds of the sale into that company as a capital...

I'm in the process of figuring out how to best structure things and optimise for things as an Australian Citizen. I know the most straight forward thing everyone is going to say is to simply leave but due to family and other commitments i wont be able to do that, even though id want to. My...

Definitely a complicated and painful situation to deal with. For the last part, id be open to hearing what that might entail.

Appreciate the info @marzio and @KDX , will definitely look into it. Not really too keen to relocate due to family even though its by far the best idea. In terms of avoiding CFC. There is 2 options as far as i understand: Avoid legally controlling the business, this can be done through clever...

Most countries around the world have some CFC rules which make it difficult when owing offshore companies. Some countries such as Australia make exceptions for active businesses that legitimately conduct business, however have strict rules for passive/tainted income. In Australia a CFC will fail...

Does anyone know if its possible to open a personal or business bank account in China without a physical presence of the owner? Would any banks accept a employee representing me?

Interesting. I have a business bank account with the Bank of Hawaii, so that may work. Only issue is still getting around the residency issue. I have a mailing address for my US LLC but thats just a registered agents address.

Thats pretty much what i've found out. That sounds good but issue is pretty much all banks in HK require a personal visit and thats easier said than done these days. Does anyone know of any bank in HK that will do remote account opening ?

While i do definitely appreciate the offer. I already have a similar setup at the moment with a employee in China. I'm more looking for a bank or EMI for this.

What is the solution?

USD from business account to business account in China in RMB.

Their fees are quite pricey. I'm in a similar situation. Do we have any other options?