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Living in a territorial country like Thailand + LLC. Good idea?

#21
I am also interested in that.

Is it possible to set up an LLC company in the USA only with the purpose of investing and asset protection?

If so, how should I send the money from my personal account to the company account?

Should I just send it in concept of "marketing services", "design services" or anything I do?

In the end I would end up being the only customer of my own company which I do not know if the bank of the LLC (Mercury Bank, Wise ...) would be happy with that.

Any experience of anyone using an LLC to invest solely?

Thanks in advance :D
 
#22
sekiexpress said:
I am also interested in that.

Is it possible to set up an LLC company in the USA only with the purpose of investing and asset protection?

If so, how should I send the money from my personal account to the company account?

Should I just send it in concept of "marketing services", "design services" or anything I do?

In the end I would end up being the only customer of my own company which I do not know if the bank of the LLC (Mercury Bank, Wise ...) would be happy with that.

Any experience of anyone using an LLC to invest solely?

Thanks in advance :D
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Usually one funds a company either as equity, e.g. by paying the share capital, or as debt, e.g. providing a loan to the company.
 
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#23
AndyAresa said:
Usually one funds a company either as equity, e.g. by paying the share capital, or as debt, e.g. providing a loan to the company.
Click to expand...
Thanks for your reply.

So, is it feasible to fund the company just for investing?

I make money directly paid to my bank accounts because some clients dislike or want to pay to an LLC, so I wonder if I can move that money to the LLC and invest from there.

Thanks again for the advice and help :D
 
#24
sekiexpress said:
Thanks for your reply.

So, is it feasible to fund the company just for investing?

I make money directly paid to my bank accounts because some clients dislike or want to pay to an LLC, so I wonder if I can move that money to the LLC and invest from there.

Thanks again for the advice and help :D
Click to expand...
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.
 
#25
OffshoreDurian said:
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.
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I considered using banks like Mercury and Wise. As far as I know, they are banks.

Technically, there is a business behind as I get paid for my services, but I get the income as personal income to my personal bank account.

Then I'd transfer it to the LLC.
 
#26
sekiexpress said:
I considered using banks like Mercury and Wise. As far as I know, they are banks.

Technically, there is a business behind as I get paid for my services, but I get the income as personal income to my personal bank account.

Then I'd transfer it to the LLC.
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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!
 
#27
OffshoreDurian said:
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!
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I opened a Mercury Bank account a while ago, and they almost asked nothing and did not even care about US customers.

It can be scary though, that I use the LLC for a different purpose I told them initially and may get blocked ...

For some reason, some customers are scared or dislike to pay to an LLC, so that is why I get money directly to my bank.
 
#29
Dont overcomplicate. I am going to give you an example.

You leave Spain 1st August this year. Immediately after establishing yourself in Thailand you have to do Modelo 030 in Spain, saying hey now my residence is this one in Thailand.

Next year you still do your Spanish taxes.

After that, you are subject to Thai tax system.

Spain may or may not ask for a certificate (since you make standard money I don't think they will). If they do, you can easily get it through a Thai lawyer.

Important thing when leaving Spain is Modelo 030. Then just enjoy.
 
#30
I mean about thailand and LLC, why some people say it is not valid structure if you leave the money in US bank and just remit a small amout to live in thailand in theory you only pay taxes for that small amount remitted and spent in thailand.
 
#31
PMbx said:
Spain may or may not ask for a certificate (since you make standard money I don't think they will). If they do, you can easily get it through a Thai lawyer.

Important thing when leaving Spain is Modelo 030. Then just enjoy.
Click to expand...
I know some cases where they ask for the certificate from people with modest incomes, even pensioners (at least that's the case for PY).
 
#32
xhomer2020 said:
I mean about thailand and LLC, why some people say it is not valid structure if you leave the money in US bank and just remit a small amout to live in thailand in theory you only pay taxes for that small amount remitted and spent in thailand.
Click to expand...
If you keep the money in the LLC or transfer it to a holding company offshore and don't remit it (which also means you don't take it out to spend it on bills, restaurants, etc.), that money is tax free.

Basically what you do in Thailand is taking out the money you need for living expenses as a dividend keeping in mind that money is taxed when doing so (0-35% personal income tax, based on how much you take out) as you are remitting it in Thailand.

The rest you keep it offshore.

It ain't that bad, if you consider you get a tax certificate you can use to open bank accounts more easily as you have a demonstrable taxed income.

PS: careful with foreign credit cards ;) it can be considered remitted income.
 
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