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Originally Posted by GreyWolf
Fairly detailed and complex scenario man.... I'm not familiar with the exact IRS rulings on US citizens - it's a complex area and would need serious professional advice.
Maybe  Depends if there is a dual taxation treaty in place. It would not be normal to have any such treaty where there was little or no taxation. There are allowances from the IRS for foreign residency - something like $80K/year, but annual filings of all foreign corps are needed.
To be totally legitimate - there is nothing wrong for any US person to live in a no tax area. By doing do, they will get the $80K allowance and just have to report any income and pay whatever tax is due on that. They would not be paying any local taxes in the no tax area.
It may not be a coincidence - and, seriously may be true, but noticed most US folks always seem to earn around $75K year when living abroad |
I know it from the American point of viewing living in Canada and working. I can't really say how it works in other places..
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Originally Posted by GreyWolf
Dangerous area and one which is being monitored regularly. Any cards used in US territory are easily tracked. They would be blocked at the OS bank level and no account information would be provided by any OS bank, but I'm sure they have other ways to deal with that without working a dead end elsewhere.
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Not at all, very safe, won't ever get blocked, and legal if done correctly.
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Originally Posted by GreyWolf
Can't say about 2257 - doubt they have included that element, but, rest assured, they would probably make it up as they proceeded with some action.
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Lots of Americans own other companies offshore, why I asked this.. Yeah, going to be a tough one.
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Originally Posted by GreyWolf
From a tax angle, yes, that .1% would be relevant on filings and you are responsible for declaring that interest. But...there are sub-clauses to this and can't get specific, but relate to the capital of the corp and a few more factors. This is something for a US tax accountant.
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I don't have to declare what the company made, I'm not a majority share holder. And I think I would need to be a director, maybe.
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Originally Posted by GreyWolf
Wish it was the solution  Na.. any "benefits" recieved would be taxable. |
Hehe, read up on it.. It's not taxable income.. I just don't remember all the ins and outs of it. Gold isn't traceable by the US Gov once it has been converted. Paying yourself I think by dividend by a foundation is where you get away with it.