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Question Self-Directed IRA

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danneskjold

New member
Suppose this is as good a time as any for introductions. Thanks to you all for the wealth of information I've been able to glean thus far. Though I have a ways to go, it's nice to be in the company of those oriented toward asset protection and wealth.

With that, I have a question that may be a little nuanced, but still relevant (if only tangentially).

I spent some months vetting the right custodian to self-direct my IRA. Specifically, I needed an institution that would allow for investment in a single-member LLC.
In the next bout of research I set my sites on a country and formation group. From an idealistic standpoint Nevis fits the bill, but after reading
many threads here, and going back and forth with a few formation groups, I'm in a bit of a rut.

As I understand, there were a few pesky amendments that required LLCs in Nevis to pay a 33% tax. I even read that the infamous $100k bond required for entities attempting to cease assets may no longer be in effect.

I've heard many things with regard to this tax: that it applies to Nevis companies only if conducting business in Nevis, or that it applies to Nevis companies conducting business anywhere in the world.
After reading through the legislation provided by the formation companies, and being assured by one, in particular, that this does not apply in my case, I'm still at an impasse.

You see, as a US citizen these (traditional) IRA funds are to be taxed at a later date by my own government. Additionally, at the end of the day my "checkbook control" of these funds will be used to invest outside of Nevis.
I mention all of this to simply ask - will I be taxed using this scheme?

I appreciate your time.
 

danneskjold

New member
Update: it appears I will be taxed.

I'm looking into the implications of designating the Nevis entity as a multiform foundation, specifically the LLC form.
 

danneskjold

New member
Alright, hopefully I don't have to rescind anything after this.
After a more thorough reading of the amendments pertaining to LLCs in Nevis,
it appears I will not be taxed for placing my IRA funds into a bank account associated with a Nevis LLC.

Even with checkbook control, which I will only use to invest,
I am not operating the business or conducting business from within Nevis itself.
One of the agents also confirmed that Nevis does not currently have a worldwide tax regime.

Hopefully this clarifies for anyone else in my shoes, otherwise I'm completely content
to carry on conversations with myself in this thread, which seems more of an echo chamber at this point.
 
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