Question EMI - getting paid for job without worrying about tax

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hoax

New member
I just got a remote job in the US as a citizen of the EU.
I'm looking for EMI (?) which could provide a USD account I can give to my employer so there is no trace of it in my country.
Looking at how many transactions are "in the system" I doubt someone will ever check it, so it is just a matter of reporting.

Any service you can recommend?


I know I can change my residence, I'm working on it. Need some short-term solution for 5-6 months 10-15k USD on a monthly basis.
 

lostguy

Mentor Group Gold
You want to check this
 

hoax

New member
You want to check this
so is see Wise and Nuri are leading.
I'm not able to follow with Wise as I have "history" there. I'll try Nuri.

If anyone here has some other recommendations, please comment :)

I'd like to find some service where I won't be chased for getting 10k incoming transfer nor they will share it with my country.
 
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Larin

New member
I just got a remote job in the US as a citizen of the EU.
I'm looking for EMI (?) which could provide a USD account I can give to my employer so there is no trace of it in my country.
Looking at how many transactions are "in the system" I doubt someone will ever check it, so it is just a matter of reporting.

Any service you can recommend?


I know I can change my residence, I'm working on it. Need some short-term solution for 5-6 months 10-15k USD on a monthly basis.
If the ultimate goal of providing such an account is not to pay tax on the money where you are legally required to do so, that is straight up tax evasion. Given that in the modern world everything is interconnected and CRS rules are in place for much of it, I would advise against it. Especially since there are plenty of legal ways to minimise your tax liabilities (running it through a company, moving, etc.). I know that is not the original question, but maybe this post will stop you from committing a crime.
 

hoax

New member
If the ultimate goal of providing such an account is not to pay tax on the money where you are legally required to do so, that is straight up tax evasion. Given that in the modern world everything is interconnected and CRS rules are in place for much of it, I would advise against it. Especially since there are plenty of legal ways to minimise your tax liabilities (running it through a company, moving, etc.). I know that is not the original question, but maybe this post will stop you from committing a crime.
no **** sherlock. thanks for nothing.
 

Forester

Silver Member
Looking at how many transactions are "in the system" I doubt someone will ever check it, so it is just a matter of reporting.
All the operations like checking and reporting are done by machines, so in fact it does not depend on the number of transactions processed. The only question is whether your taxman is lazy or not to process further with the data in the system (it depends remarkably on the particular EU country).
Any service you can recommend?
You can be (from this point of view) safe only with the service in non-AEOI/CRS and non-FATCA country. Otherwise, all banks report automatically, there is some uncertainity about EMI's (it depends on the country of registration, too).
I know I can change my residence, I'm working on it.
The ultimate and only safe solution.
Need some short-term solution for 5-6 months 10-15k USD on a monthly basis.
Be prepared that it can work – and it can fail as well.
so is see Wise and Nuri are leading.
I'm not able to follow with Wise as I have "history" there. I'll try Nuri.
Nuri is a German company, so they are very opened for a cooperation with state institutions.
I'd like to find some service where I won't be chased for getting 10k incoming transfer nor they will share it with my country.
Except from non-AEOI/CRS and non-FATCA countries, it can happen anywhere. Generally, Lithuanian EMI's tend to be more covering than any other. I am not very well oriented there but for example (there is ~70-80 EMI's) Paysera and Bankera are used frequently.

P.S.
I know personally about a few cases when EU citizens were (retroactively) politely asked about paying the taxes for low 4 figures USD amounts they had obtained from their US remote employer to their US accounts.
 
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