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Originally Posted by TheJimmy
and the part that most don't think they NEED to do...moving themselves offshore with application of citizenship in another country.
I mean look at that Muir spammer case where they guys living in the US had cyprus companies, other offshore accounts, etc...and they still got bagged.
If you're going to go offshore, like you mention, you have to go 'all the way'.
The way I look at it people have 3 choices now.
1) Comply with the regs completely and hire someone to do this full time if they're large enough.
2) Don't host nude material period.
3) Go offshore 100% and get a new citizenship somewhere
Glad I made my choice years ago.
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Agree! There is no point in any US citizen thinking of simply forming a corp and moving OS for several reasons:
(a) There is a requirement for a declaration of that corp to the IRS - once that is done, it opens up the can of worms. Again, if it is not admitted, then there is a possibility of tax evasion. That also defeats the whole concept of OS in that the privacy element is gone.
(b) US law will follow a citizen, no matter where they are resident - plus there is still the requirement for annual IRS filings.
Totally agree there is *no* option but to either move out totally - and genuinely move out
OR comply with whatever legislation exists or is implemented in future.
PS If it was almost any other country - that would not be such a big deal, but the US is very much an exception.