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entropy157

New member
Hello all, I am interested in creating a company in UAE as an American Citizen. Ideally use this company for enterprise trading on Binance et.al. I would then make myself an employee of this compay and pay myself a US taxable salary while the investment gains / losses are absorbed or reinvested with the offshore holdings.

Is this possible to pull off as a US citizens?
 

alexeikarp

New member
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@entropy157 just kidding ;) couldn't help myself.
 

Golden Fleece

Entrepreneur
Hello all, I am interested in creating a company in UAE as an American Citizen. Ideally use this company for enterprise trading on Binance et.al. I would then make myself an employee of this compay and pay myself a US taxable salary while the investment gains / losses are absorbed or reinvested with the offshore holdings.

Is this possible to pull off as a US citizens?
For U.S. citizens, the days of deferring taxation by retaining profits in a CFC are over. You can still realize substantial tax savings by moving offshore and setting up a company in which you can work as a full-time trader. You should consult a professional tax advisor (CPA) who specializes in offshore tax strategies.

 

entropy157

New member
For U.S. citizens, the days of deferring taxation by retaining profits in a CFC are over. You can still realize substantial tax savings by moving offshore and setting up a company in which you can work as a full-time trader. You should consult a professional tax advisor (CPA) who specializes in offshore tax strategies.

Thank you @Golden Fleece, i actually read that post you shared before i posted trying not to open a second thread on the same issue. Overall, I am not looking for tax deferment, more tax balancing.
What I am trying to figure out is if I setup an offshore corporation is that company susceptible to US taxation with me as the founder a US citizen not doing business in the United State, its crypto currency.. then if i pay myself is only that money taxable as income? Im thinking of, say i worked for a Swiss company and was paid a salary i would only need to pay income tax on what i was paid, while the Swiss company would need to pay corp tax in Switzerland.. perhaps im just being naive about the entire thing. Currently investing as an individual every single trade is a taxable event (short term gains) the nature of crypto in a way. Im not really a HODLER. What is more of an issue for me is leveraged trading where gains are reinvested and can be lost in a liquidation event.. still owing tax on the liquidated gains.. would opening an offshore help with any of this ... I will consult a law firm that specializes in offshore setups. Any recommendations on firms that specialize in this area would be appreciated!
 
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