Recent content by OffshoreDurian

You can keep your card when you move to Thailand, but you can’t renew them.

From my own experience, Mercury will ask more questions when you open the bank account. The will refuse you if you don’t do business with US clients for example. Why can’t the LLC invoice for your services? You’ll have a higher chance of getting approved!

Yes, it’s possible. However the big problem will be banking. Most EMI’s don’t like companies with no real business behind. Especially if you are your only client. Real banks are a bit less strict on that, since it’s relatively common thing to do in the US.

No, nothing! That’s why I wanted to a Mercury account in the first place as I need a debit card to pay my bills.

Not for US LLCs. At least not for now. Luckily it is on their roadmap under ‘later’. Hoping it will be soon!

Just checking if you have found a solution to your problem? I am in a very similar situation right now and I would like to avoid the German WHT of ~26%. I am most worried about economic substance requirements of the holding company by German tax authorities.

I created my LLC for a online marketing company. The website looked professional with a good domain/name. I said that *some* of our customers are from the US, which is why I am applying. Also had a ‘real’ adress + US phone number matching the area code (delaware). I also had social media...

That’s what I did with PayPal and it got approved. However as soon as I received $25, I got asked to send ITIN or SSN verification. So now my account is blocked…

Wise do not offer a debit card (real or virtual) for US LLC. However it is on their current roadmap and it will be available “later”. No precise date has been given. Fingers crossed that it will be soon!

True with some conditions. For example you can’t be a US resident or hire people in the US who work exclusively for you to further your business. You or your LLC might still be liable to pay taxes in your home country, or in the US if you don’t meet all conditions.

“Swissquote does not accept payments from third parties.” Source: How to Deposit Funds into your Forex Account | Swissquote It’s always been like that. Now it might work with a third party account, but that doesn’t mean it’s allowed.

I don’t think they do it yet, but it’s just a matter of time until they are pressured to do it (if they don’t already do it). N26 already does CRS reporting for example. Better move to a low tax country and sleep well at night.

If you live in the EU and manage the company from the EU (e.g. where you live), most countries will consider the company to be tax resident of your country, which will make it subject to corporate income tax. The only way to avoid this is to move to a country with low or 0% personal income tax.

Last time I talked to OCBC, you also need to be in business for at least two years.

A Revolut account would work if you have such an account!