Need help with a setup for a non EU digital nomad

[Seeker0Void]

Hi Everyone,

About me:
- Israel based
- in My 30s
- earn around 180$k annually
- Consulting to US/Israel based companies
- Will probably get EU citizenship in a year or two

Became a digital nomad recently and would like to disconnect from Israel tax-wise, I have consulted an accountant for the process. So I know what I need to do in order to disconnect, what I'm missing is the residency parts in the setup.
- I understand I can open a US-based LLC that will not be taxed. Through which I can receive payments.
- But how can I open bank accounts for personal use when I don't have residency anywhere? I also have issues as most EMI providers don't support Israeli clients (at least without debit). One Idea I thought about is to open a few foreign bank accounts before disconnecting from Israel, and not inform them I have disconnected, in this case even if one of them will want to shut down my account I will have a backup. Did anyone do something like this? what are the holes in this plan? Which banks (preferably in Europe) will be recommended for something like this?
- I mostly need this solution for a year or two until I'm getting my European passport which will allow me a more robust solution like eastern European tax residency.
- I also have an interactive brokers account? how big a problem it will be when I will disconnect from Israel? Can it cause them to close my account?
- Just to clarify I plan to travel this time across different countries and be less than 183 days in each country.
- I don't mind paying for a consultation, if there is someone that can help me with the setup for a reasonable cost I would be happy to pay, please dm me if you can help or know anyone who can.

Please help me stop paying 50% tax rate for nothing

 

[uplana]

There are a few EMI'S like Mercury that can open an account for your US company, you may consider New Mexico or Delaware as discussed here a lot of times.
https://mercury.com/

 

[Seeker0Void]

But that's a business bank account right? My questions were more about the personal one that I can use for expenses and the stockbroker.

 

[startfleetio]

Two options
1) Get a Business Bank Account for your US LLC and you can apply an account with the brokerage with this US LLC.
2) Get a ITIN and we will share where you can get a Personal Bank Account in the US, remotely

 

[Silvio]

If you think you can open foreign companies without reporting them you are in for a surprise when they are found out (and everything will eventually be found out).

Don't f**k with the Israeli tax authorities, just relocate to Cyprus and then do not set your foot in Israel for 2 years at least.

https://home.kpmg/xx/en/home/insights/2011/12/israel-income-tax.html
For Israeli tax purposes, the test for being an individual Israeli resident is the center of life, which takes into account the overall connections with Israel (including family, economic, and social connections).

In addition, a presumption was determined according to which it is presumed that a person’s center of life will be considered as located in Israel if that person was present in Israel at least 183 days in a tax year, or was present at least 30 days in Israel in a calendar year and their total presence in Israel during the tax year and in the 2 preceding years was 425 days or more (this presumption can be contradicted by the tax authorities or by the individual).

 

[disconnected]

- But how can I open bank accounts for personal use when I don't have residency anywhere?

Find a country where you can get a working holiday visa or work permit, this will allow you to easily open a personal bank account. AU / NZ where examples of this but is impossible at the moment obviously. You may have some other options.

Also, I believe that if you're able to travel to the US you can open a personal bank account there as well.

 

[FixieHartmann]

You can get a bank account in any European country if you have a residence permit and an address Opening a basic bank account within the EU