Recent content by Natasja

I will refrain myself from writing an essay with various counter-arguments for such an implementation, but it's pretty alarming to see that any legislation that infringes on the privacy of it's citizens can be justified by stating that it's been done to "fight money laundering and terrorism...

As a start-up you don't have any other option then to lie if you want a reputable payment processor. Those who will accept you as a start-up are very likely to run with your money. Trust me, I've spend the last 6 months searching for one and all I found were processors which were accused of...

I would advice you to do extensive research before setting up your company. I'm the owner of a company in a blacklisted country and finding a bank (without going dark) is next to mission impossible. Admittedly, the company is also involved in high risk activities so we made it a lot harder for...

Really interesting info. Imo the most dangerous thing about the CRS is the semantic ambiguity ; i.e the unclear meaning of words and phrases they use and what they mean in reality. The CRS is written with a LOT of phrases with no exact meaning such as: regularly traded, significant control...

The same report was made by another user a couple of months ago. I'm guessing you're not the first and will def. not be the last. Take care.

Upon reading I discovered this vulnerability as well. The thing however is that CRS is subject to change and these solutions could be only temporary. The solutions you gave about 2nd residency/proxy are much better solutions eventually. CIT is absent, company already incorporated. I already...

Do you know a smart way to trigger a taxable event in a 0% tax jurisdiction to become an active NFE? If a 0% country only has VAT, can you just import a box of bananas in name of the company, pay your VAT and become an active NFE?

Coincidentally that's the source I used for formulating my question but didn't read the explanation given at point 3. Thanks. So the use of nominees would be semi-useful when operating an active NFE, although it's not a guarantee. Just an extra layer. These were indeed the scenarios I was...

Upon further analysis of my question, I might made a mistake. Maybe CMC rules only apply to passive NFE's and therefore an active NFE will automatically be resident in the country of incorporation (exception is when the active NFE is incorporated in a 0% tax jurisdiction). it would help if...

I'm currently investigating the CRS and trying to identify certain 'loopholes'. Personally, I have a really hard time trying to grasp certain rules since they lack a logical and clear structure. One of them is the reporting of active and passive NFE's. If your business classifies as an Active...

Not sure what the difference is but I got this with a quick Google search:

That's not true actually. I've had a personal phone call with TBC bank and Bank of Georgia for this purpose. TBC bank was not very consistent in their given answers but Bank Of Georgia made it very clear they were willing to open a business account for a non-resident entity. They both declined...

Correct. A single-member LLC is a disregarded entity, meaning that it isn't treated distinct from it's owner in terms of tax purposes. The IRS will allow the owner to report the business income on their personal tax return. Since you're non-US resident and don't do business within the US, you...

anyone care to o advice ?

Hi, I cannot go in great detail about this since I'm currently waiting on a reply of several law firms but would be willing to share more details privately if someone shows to have extensive knowledge about this. Our goal is to divide business activities among the LTD/LLC we have in order to...