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LLC for Greek Resident
- Thread starter troupos13
- Start date
No, that's not the same.
All the companies you mentioned have local directors and are tax resident by default in the place of incorporation.
LLC not only is not tax resident (unless you choose to be taxed as C-Corp) and does not have local director/manager.
All the companies you mentioned have local directors and are tax resident by default in the place of incorporation.
LLC not only is not tax resident (unless you choose to be taxed as C-Corp) and does not have local director/manager.
It’s pretty much the same thing. The countries he mentions don’t necessarily require a local director as a starting point, he can be the director of the company himself.
However, even if you have a local director, that no longer constitutes substance in 2025, and you will still be taxed on the company’s income!
take a chill pill and read what I wrote!You said that OP will pay personal taxes from any income in the US LLC.
This means that you understand how Greece treats companies like US LLC and this understanding must come from some source.
To reply to your question I want to see any document that demonstrate that Greece sees US LLC as tax transparent because, unless proven otherwise, there's no concept of tax transparent entities in Greece.
And like Greece there are other countries that treat US LLC like opaque entities.
One of the is UK.
This is a document that says that UK treats US LLC as opaque entities.
So unless you have proof to substantiate your claims, what you said has 0 value.
I don't care where the company is managed, this is OP problem and if he lied to us I don't care.
The point is that If he manages the company from Greece he will not pay personal taxes. He will pay Greek CIT because US LLC is an opaque entity, like managing UK LTD from Greece.
Having a freelancer would not solve the problem and would make the company tax resident in Greece liable for CIT.
What if he hires a corporate director that REALLY manages the company in exchange for a cut of the profits?
As i said in my previous comment unless you substantiate your claims with something more constructive than "i'm right and you are a fool that has been living under a rock for 10 years" what you say doesn't bring any value to the conversation.
What i was talking about was hiring a company that would act as a manager / director by offering "fractional" services like fractional CMO service, fractional CFO service and so on.
For all the people that aren't smart like you and know it all, CMO, CFO, CEO are key roles in a business but startups usually don't have the initial cashflow to hire them (unless injected with venture funds), that's why fractional services are popping up.
Fractional means that you are hiring those key roles for X hours a week for a fraction of what you would be paying them by working for you full time.
A company like that would provide all the substance needed for tax agencies.
It's not some random freelancer on fiver.
Now you tell me on what grounds a tax agency would deem a company to be tax resident in Greece if key roles are hired offshore.
With all due respect, I was trying to explain OP that the Greek guys won't buy his story with a dude from fiverr. We both agree.
Yes. This would work but probably not within the cash appetite of OP.
You are as simple as you are incredibly naive, but go ahead and believe it, and spread your "fantastic" knowledge to these people who have never had any run-ins with the tax system before.
One thing is certain: what you’re suggesting will either land them directly in jail or burden them with massive fines that could, in the worst-case scenario, ruin the rest of their lives. Hope you sleep well.
over and out
I agree with @brianK . They're not stupid.
It's clear for everyone here that OP wants to run the company from Greece.
Facts always trump form.
How many hours does that manager work? How much is he paid? How much is the revenue/profit of the company? What is the company's tax residency? Where is the office located? How much is the rent? Where are the employees? What kind of equipment does the business have?
Oh, so it's an Amazon business selling products to US customers for $20M per year, making $1M in profit, but the guy running this works on it only 1 hour per day from Vanuatu, and he is paid $10 per hour?
Wow, OP got really lucky that this talented CEO is willing to work for a salary of $200 a month. Really talented guy, being able to manage a $20M company, creating $1M in profit, but he never thought of it to demand a raise for his talent. Such a humble person.
And of course he hired him from Vanuatu because everyone knows that's where the best CEOs live. It has nothing to do with the fact it's a tax haven.
And of course there is no office because the $200 CEO can run it from his mother's basement. And he doesn't even need a company-issued laptop because he does all the work on his mother's computer as well. Makes complete sense!
How corrupt is the Greek tax office? Isn't corruption a big problem in Greece?
Maybe you can make this work if you grease the right people. But if they're really doing their job, you can forget about this.
It's clear for everyone here that OP wants to run the company from Greece.
Facts always trump form.
How many hours does that manager work? How much is he paid? How much is the revenue/profit of the company? What is the company's tax residency? Where is the office located? How much is the rent? Where are the employees? What kind of equipment does the business have?
Oh, so it's an Amazon business selling products to US customers for $20M per year, making $1M in profit, but the guy running this works on it only 1 hour per day from Vanuatu, and he is paid $10 per hour?
Wow, OP got really lucky that this talented CEO is willing to work for a salary of $200 a month. Really talented guy, being able to manage a $20M company, creating $1M in profit, but he never thought of it to demand a raise for his talent. Such a humble person.
And of course he hired him from Vanuatu because everyone knows that's where the best CEOs live. It has nothing to do with the fact it's a tax haven.
And of course there is no office because the $200 CEO can run it from his mother's basement. And he doesn't even need a company-issued laptop because he does all the work on his mother's computer as well. Makes complete sense!
How corrupt is the Greek tax office? Isn't corruption a big problem in Greece?
Maybe you can make this work if you grease the right people. But if they're really doing their job, you can forget about this.
Yes that was clear from the beginning.
C'mon i wasn't talking about that kind of $hit.
We are talking about substance since ages so i thought that a company that enters into a company directorship contract with OP's offshore company by offering CMO, CFO, CEO services for a percentage of the profits could work.
With all due respect @JustAnotherNomad but I always thought that you were a better business man than running at 5% profit.
Luckily Satoshit did not dislike me here.
We would have to ask OP how much is annual profit is.
I just found a very cheap, good and save way to hide the cash. @troupos13 what annual profit are you hiding?
Depends on what OP's budget is. If it's supposed to be believable, there will be significant costs.
I also don't really see why a US LLC would be so interesting then. OP could simply use a local company from the country where the company is being managed.
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