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Originally Posted by GreyWolf
The subject of this thread relates to "going offshore". Going offshore has nothing to do with sitting on your ass in an onshore country and playing games with corporate structures offshore.
Going offshore means getting on an aircraft and moving to (usually) better climates and, ideally, not paying *any* taxes and not having to account to the govt of that jurisdiction for any financial activity in a corp business.
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I replied in the context of what the original poster seemed to be getting at and what most people on this board consider to be "going offshore".
Quote:
Originally Posted by GreyWolf
Structures can still be relevant even under these situations and where you may wish a presence elsewhere for whatever reason.
But... just trust me  - it has very little to do with deferring or minimizing taxes - there are no taxes  |
Sure, but not for a US citizen, unless they want to give up their passport and renounce their citizenship. Alot easier from other countries, I myself dont live in my home country and have residency rights in more than one other country which makes my situation very fortunate and easy to do what you have suggested - pay no taxes (or no more than you choose to for other reasons).
That is very different to most of the people on this board who live full time in one country, or are US citizens. Off shore, or companies outside their home country can still be very beneficial.
Quote:
Originally Posted by TheDoc
Not at all, very safe, won't ever get blocked, and legal if done correctly
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Thats just wrong with very few exceptions which cost more money than its normally worth to avoid. While it may have been regularly possible 5 years ago and its sometimes possible now you are just asking for trouble at some point in the future.
Quote:
Originally Posted by GreyWolf
Summary! *s* There are ways to do whatever and achieve a good result, but these depend on citizenship, real purpose of any structure etc and are sure complicated if there is US citizenship involved. I'm not into bending rules and deviating to avoid taxation - it's far easier to have this transparent and comply with all laws and avoid hassle. For non-US folks, it is a lot easier than it sounds, tho if structures are involved, - it prob takes about a week thinking over the possibilities then - the rest falls into place fairly well.
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Which was the point of my first post. Alot of the bigger corporations in Adult run multi country operations, and I know from first hand experience they regularly arent using the right company setup and paying more tax than they should.
Ultimatley anyone who is trying to avoid paying taxes on money they are spending IN their country of residence is asking for trouble. Just as stupid is paying more tax than you should when you have legitimate reasons and ways to minimise it.