How does CRS work if you just own a foreign company with a foreign business bank account?
Does CRS also cover business bank accounts?
and if so what $ amount do they report since it's a separate entity? do they just report that i personally own the balance on my business bank account because...
1. Can you get around CRS by simply purchasing a Caribbean passport and using it to open personal bank accounts or EMIs anywhere without getting reported to your main country?
2. Are business account balances reported under CRS if you're a 25%+ shareholder?
Hi @Ness ,
Thanks for the response, my options i guess are:
A) Create a non-disregarded company somewhere abroad and pay dividends to my personal account in Morocco where i'll be taxed on it locally for 15%.
- I'm even considering a UAE company and use it directly for personal expenses since...
To clarify more:
Important to have: US bank account or EMI (transferwise?) to make it easy for my US clients to wire me money.
Bonus to have: Payment processing
Hey @Hazqiyal
Thanks! You mentioned 0% dividend tax in Morocco in some post i came across. i do have a delaware C corp in the US but in morocco you're still taxed on the dividends you import into morocco, or no?
what setup do you suggest?
I'm wondering if there's anyone from Morocco here. I'm wondering what's the status of CFC / CRS in morocco?
I work in the web development and saas field on a freelance basis, most of my revenue comes from US companies and clients.
as a moroccan tax resident,
- Are you allowed to open and...
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.