Anonymous LLC to avoid CRS

[Blue2000]

Hi, i am planning to move move my offshore money from Thailand to an Anonymous LLC to avoid CRS or any other reporter to the tax department in my homecountry.

Ive heard it is much safer than banking in an none CRS Country for privacy.

1: Is that true?

2 Is it safe to make SWIFT transfers to an anonymous prepaid debit card?

3 Should i choose an anonymous LLC in Nevis or New Mexico/Wyoming/Delaware?

 

[Sols]

Hi, i am planning to move move my offshore money from Thailand to an Anonymous LLC to avoid CRS or any other reporter to the tax department in my homecountry.

Ive heard it is much safer than banking in an none CRS Country for privacy.

1: Is that true?

CRS doesn't depend on where the company is incorporated. It depends on where the company's bank is located.

If you bank a US LLC in Switzerland, CRS applies.

If you bank a US LLC in the US, CRS does not apply. Instead, FATCA applies, which should be — but mostly isn't — reciprocal.

2 Is it safe to make SWIFT transfers to an anonymous prepaid debit card?

Safe in what sense? If you're dealing with shady people, they can run away with your money and leave you with no recourse.

If you're worried about the Thai tax authorities, it's probably low/medium risk. They don't have the resources to go after most people. But no one can say for sure.

SWIFT leaves a trail.

3 Should i choose an anonymous LLC in Nevis or New Mexico/Wyoming/Delaware?

Probably doesn't really matter.