Can I be an employer of my own US LLC?

[Eldubb]

I will be setting up a US LLC in Wyoming and I want my tax residency country to see that i am only an employee of this company.

Is this possible? As far as i understand the Wyoming members are not public knowledge.

If the country i reside in asks for proof, is there a document I can show from the company as proof or is it just a matter of doing up my own "employee contract"?

 

[JustAnotherNomad]

What is your tax residency country? They will start asking questions about the company and may try to tax the company.
Also the US will implement a UBO register from next year. It's just not a good idea to do it this way. It's illegal and the risk of being caught is high since you will actually be leading the taxman to that company.

 

[CyprusLawyer101]

The context to which something is requested is always important. Also to whom you are disclosing is important, its role and whether there is risk of information being shared within another context.In essence if you are not requested or obligated to disclose this company as being the owner, but only make reference to your employment, then subject to above comments I dont see any worthwhile risk.

 

[JustAnotherNomad]

Most high-tax countries would require the owner to disclose the ownership to the authorities. And the employment is just begging the authorities to investigate. Maybe they won't, but it's a gamble.

 

[Eldubb]

What is your tax residency country? They will start asking questions about the company and may try to tax the company.
Also the US will implement a UBO register from next year. It's just not a good idea to do it this way. It's illegal and the risk of being caught is high since you will actually be leading the taxman to that company.

Turkey is my tax residency. It's like the wild west here with tens of thousands of foreigners working who don't even bother to pay tax.

The context to which something is requested is always important. Also to whom you are disclosing is important, its role and whether there is risk of information being shared within another context.In essence if you are not requested or obligated to disclose this company as being the owner, but only make reference to your employment, then subject to above comments I dont see any worthwhile risk.

I agree with this which is why I'm considering it because i don't believe Turkey taxman will bother asking about who the owner of the company is. I'm sure they won't care if i say i'm an employee of a company, show employee contract / tax returns (don't know how i will do that with a pass-through llc though)

Most high-tax countries would require the owner to disclose the ownership to the authorities. And the employment is just begging the authorities to investigate. Maybe they won't, but it's a gamble.

Turkey is a high-tax country on paper but has been more of a tax haven for years. Why would you say being an employee of a foreign company is begging Turkish tax authorities to investigate?

 

[JustAnotherNomad]

Ok, I was assuming you were living in a Western country with a functioning government. No idea about Turkey, could be fine then, I guess.

 

[Kirito]

If you keep the money in the LLC, as retained earnings, you don't need to declare them.