Major ripoff. Do it with Stripe Atlas, costs 500 euro.

This is the way. I keep 1/Nth of my business capital in N different bank accounts, because sooner or later they’re going to close one for fun. My bet is on PayPal first. Wise seems risky too. Mercury (if you have a real startup) is great.

Mercury has also been known to close down accounts FYI

If you have an Estonian OÜ, get LHV. You actually can get someone on the phone if they need info etc

Damn, thanks for all the input ❤️❤️🙏

I keep hearing people say on here that they were unable to open a bank account in Thailand even with DTV. So how do you do this as a tourist?

Dumb question, what's the rationale/benefit behind forming an LLC?

Incredibly easy to form and operate, access to US banking and startup ecosystem, pass-through entity meaning no tax owned in the US if it’s foreign-owned.

I've incorporated my llc through firstbase.io and yes it was really easy! Even tho creating a bank account was a bit more complex than expected

Any reason why someone wouldn't do this? Only downside is setup + maintenence costs?

1. You don’t have a personal tax residency that fits well with a pass through entity (assuming you own the LLC directly and not through another entity)
2. You’re a US person (green card holder, citizen, tax subject, etc, as that basically makes it a whole new tax structure)
3. CFC laws on your countries of actual residence/tax residency

Can’t think of any other reasons right now. Maybe our in-house tax guru lhgdntekxoad can think of other cases?

also regulated industries that might have high entry costs in the US

How do you get Tax Residency in a low tax country when you move every 2 to 3 month? I dont want to stay 183 days anywhere :o

I did some reading and found that you can get tax residency in a free trade zone in the Arab emirates if you create a company. Take it with a grain of salt though and if anybody with actual experience can share j d be greatful too

No personal experience, but from friends: It's a lot tougher than "just" the 183 days outside of the country, and it will be a huge headache if you are not moving to another tax residency and become a full time nomad without any tax residency, as German bureaucracy is shit and that's still such a rare case that they don't have experience with.

Hey all. Anyone know a good resource, and ultimately some cpa or consultant not so high of cost, related to maintaining an LLC in Wyoming? Mostly the taxes and legal requirements. This would be for a solo owner and non resident, of a service company, with clients from USA and all over the world. So I think the 5472, 1120, 1040-NR and W-8BEN forms are involved, but I’d like to know all exactly what is required and how’s going to be and cost. Or if anyone has experience on this regard too.

Not a cpa but maybe these folk can help https://www.northwestregisteredagent.com

Yeah I do this. If you don’t have US staff / physical product in the US, but you have US customers and the work is done elsewhere then you are probably not “Engaged In US Trade Or Business” so it’ll be simpler. I’m doing my 1120 and 5472 now, due April 15th. The 1099 forms for US contractors are due end of this month.

Malta and Cyprus are more flexible

Do they really not give you any proof?

Yes, but each has its own unique rules that you can play with.

Portugal for example considers multi member LLCs as any other company. So if you have a business partner somewhere else who has a % of the LLC, CFC rules might not apply depending on how you structure it.

You can also have your LLC be owned by an entity in a jurisdiction that requires a local director (Singapore for example), minimizing CFC risk since you have a more defendable structure.

But ofc tax optimization is all about adjusting risk/reward for your own circumstances. If you’re an HNWI I’d indeed worry a bit more about CFC rules, what the priorities of the tax authorities in your personal residency country are, etc.

also, none of this is advice in any form. Just my own conclusion after researching the topic. I’m just a dude 😂

Some people pay rent upfront for the whole year in Dubai, others do quarterly etc. A proper lease comes with an “ejari” (legal document), which is required for several things in UAE. Note that some people rent for the whole time, even while they travel, because the rent is small compared to the tax savings they get by having residency in UAE. Other people rent month to month and still seem to have residency, and then travel for a few months. But monthly rent / serviced apartment is much more expensive.

Do you have a network of people who do these things? It’d be nice to establish a like minded group

in general, yes and no

on your way to "win big" you can optimize taxes, just different setup and different strategies

you can reinvest those savings to increase your chances to win big

and then you will have even more opportunities to save on taxes

Hi all - I'm looking for some tax reduction help as an American

FEIE
Solo 401ks
QSBS
CFC corporation setup and maintanence
Tax filing knowing the whole plan

Big ask I know but figured this is the place for these oddball requessts!
Thanks

Hi,
I have a request for a referral.

I am looking for a reasonably priced international tax advisor, that can guide me on navigating several possible tax residencies and choosing the right one.

If you have referrals or tips in that area, please send them.

Thank you. Have a good day.

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Just curious, what is your company setup? LLC + Freelancer activity (Recibo Verde) in Portugal?

For those who have a company in Singapore with a PT residency, do you know if they have a freelancer activity in PT too?

I agree, in Cyprus there’s the 60days rule via which you stay here two months, travel the rest and enjoy fiscal residency here with 2.65% GeSY tax on dividends and around 27% employee+employer tax from minimum salary (if you employ yourself to get insured). Apart from these there are the company maintenance fees & accounting.

With a dual offshore+onshore structure I believe you can get away with 10% effective tax rate for a lower-end six-figure salary.

But hey, you don’t need to live here for half year as in most EU countries.
Just invest in a cheap property, rent it via AirBnB and be director of a small LTD.

How do they treat your other companies?

I own an Estonian OÜ. Would Cyprus treat it as a local entity (like a Portugal does)?

Well, as independent entities, just because you’re the same director in both it doesn’t mean you cross the law, just make sure one doesn’t significantly control the other aka your Cy LTD to be a shareholder for more than 50% of the Estonian one, as they may not like subsidiaries just to avoid corporate tax.

what about PE rule. i am 99% positive that "If company is incorporated outside Cyprus but its management and control is in Cyprus, then it is resident of Cyprus, subject to Cyprus taxation.» same as within all the EU.

Hi! Curious to hear where you guys would setup your business to reduce taxes? And why there?

1million variables here, but I would recommend considering UAE. while they have 9% tax they have small business exemption for revenua up to 800k USD for next couple of years (and I’ve been told that there is a big chance of the exemption to be continued after 2026).

On the other hand you have to spend time in UAE

You dont have to stay, have to visit though.

Hmmm I've heard could be annoying if you have clients in EU / US. Dont know the details tho

Hence “1million variable” disclaimer.
But you can always structure the set up with LLC or UK LP for usa/eu clients with you UEA FZCO as a subcontractor, for instance.

Literally in the process of liquidating my UAE company and then I read this 😅

Estonian OÜ + UAE tax residency then

There is no application process to my knowledge. It is a part of corporate tax filling.

if you're active IN the EU, Bulgaria is a great option. 10% profit tax, 5% dividend tax.

Especially if you're from the EU - you can set up your company in UAE.. but they'll simply ask a few years later 'so you pay your taxes there? show me your phone bill you lived there.... error'

They only ask if you intend to move back to your home country (at least that’s the case for Germany).

No government in the world has the resources to chase some nomad who makes a couple of grand a month.

Well. Things are definitely tightening. Its a matter of a country database where based on ur pasport you have to proof what you do. If you dont, then you pay. So if u say ur in UAE. Make sure u are there. What works now will maybe not work in 5 years. And tax authorities always come after several years 😄

You're an accountant?

Sorry, what are you saying about countries such as Belgium being a problem?

I'm a Belgian citizen with currently a one-man company here. But the taxes are eating me alive atm. That's why I'm looking at setting up a company somewhere else.

What I heard is that if I setup for example a company in Bulgaria/Estonia, I declare myself as non tax resident and I dont stay for more then a half year in Belgium I should be fine, right?

Hi Calum. I cant advertise here. But i helped hundreds of entrepreneurs to migrate to Bulgaria. Ive seen a lot. Many companies talk from theory but in 4 years much of that theory doesnt work in practice.

There’s always a risk. Best to stay here 2 months only, and travel the rest of the time while signing contracts and managing the offshore company outside of Cyprus. Conducting board meetings and annual gathering also outside of it, but not touching the offshore jurisdiction either, so you’d claim offshore tax exemption without doubts (for HK).

Most of Europe still has open borders - at least for now. I literally met Germans who lived in Spain for 20+ years without registering.

Point being, don’t tell your home country you’re back.

Your example and your conclusion are different.
A German living in Spain for 20 years without registering =/= a Spaniard living in Spain for 20 years without registering.

One is way higher risk.

That is true. You are usually running the highest risk in your domicile. The moment you switch countries, the chance that you even show up on the radar is significantly lower.

How have people here structured things?

I’m struggling to make sense of it. Right now, I have citizenship and am registered in my home country, but I reside in Thailand. Due to visa restrictions, I can’t open a bank account here, and I’m considering moving my company to Singapore. But cutting ties with my home country creates banking issues. At the same time, I can’t open a personal bank account elsewhere—neither in Thailand due to my visa nor in Singapore unless I sponsor my own visa, which wouldn’t be very useful if I don’t plan to reside there.

would WISE account help you? you need an address somewhere to open it but otherwise might be easier

Already have Wise and Revolut, thinking more traditional banking. Not sure I’d trust having large sums in either of those

Don't tell your bank about your change in residency. You're going to be breaking the terms of service, but it is what it is. Everything else is a giant headache. I'd recommend you open up even more accounts back home, just in case. I doubt your countries registry is going to inform your banks about the move.

There’s no breaking terms of service, I would still be able to keep my bank as normal. The issues are mostly related to the type of investment account I have and that you might lose access to the digital identification system we use in Sweden after being out of the country for X amount of years (which is used to login to the bank).

I am pretty sure with Revolut you have to be a resident of the small number of countries they support. Many banks in Europe will close your accounts the moment you move out of the European Economic Area. I was honest when I left, and found out the hard way.

Ah you mean in terms of Revolut. Was unaware of that, I thought you could still keep it as long as you’re citizen of a supported country. Makes things even more difficult then..

yeah i still have my ING Diba after 8 years out of the country as i never told them. even moved bank address within germany around for which they require no proof

I guess it makes the most sense to eventually get work visa in a country like Singapore and open banking, etc there.. And for now just hope that my home country won’t cause any issues. Have already been interrogated by my bank because of my abroad transactions, etc..

Yes, and you have to be comfortable with it. The banking world is not (yet) designed for true location independence.

Yeah not just banking, but overall. Like my home country technically says you should deregister if you’re outside of the country for more than a year, but what happens when you don’t reside anywhere else?

Trust large sums into DAI, and wire into Coinbase as needed to convert to fiat

It’s what I struggle with as well.

One approach, apart from Georgia, is opening an Estonian OÜ.

Then open a business bank account with LHV. Through LHV you can then open a personal account.

Singapore will let you open bank account as a non register if you have and willing to put 250k there.

I also use Revolut for both personal (metal) and business regular (free) plan

- Wise: pretty safe, I've been keeping there six figure numbers, even paid my house through it, they're an ex-Stanford bank, working with real banks, way better than most traditional banks on compliance, trust, support and privacy. (they don't ask too many questions, nor informing third parties about your activity) — very good for US/GB local accounts and cheap/free transfers
- Revolut: better for EU side of things and as a buffer bank, to which you top-up funds from Wise, convert at a slightly better FX, then tunnel funds further to your personal banks if not spending straight from there
Both guaranteed for up to 100k insurance, but that goes with most of the banks anyway.

There's also fintech for businesses as well: Airwallex, Currenxie, Statrys, which don't charge maintenance fees, just a small deposit fee when you get money, charging no fees on domestic transfers.

——

I actually opened a business in Hong Kong in just a few days (might be an alternative for you Stefan) with an Airwallex account and minimal papers/proofs required. It's good for asset protection and tax optimization due to the offshore corp tax exemption (0% if you don't do business within HK), then you get out of the company profit as dividends after settling purchase invoices to your own onshore business if going through such dual structure to ensure a fiscal residency in your jurisdiction of choice.

Wise is safe until it isn’t. There are an unlimited number of posts on Reddit on a daily basis of people who, at least for them, totally out of the blue had their Wise account restricted/blocked/deactivated. If seen more of these posts for Wise than for any other bank/fintech.

True. To be fare to wise they do release the funds on blocked accounts fast enough (at least in those cases that I saw personally with people I know).

Most probably because they trigger false-positive lockdowns of accounts, especially for new customers that were flagged as being involved in shady transactions.
They are also issuing some regular compliance checks asking you for proof of income, revenue, tax return etc. so failing to fill those can flag your account as well.

I keep some money there and I've even talked with their support a few times, pretty responsive and detailed in answering lots of things, but like you said, it is ok until it isn't, so fingers crossed I won't face any issue.
You know Buffet's saying, "don't keep all your eggs in one basket".