Quote:
Originally Posted by Spudstr
even if you have a company off shore, and host off shore.. but you ownthe company and you are a US citizen. you still get bonned the only way to really do this correctly is to denounce your US citizenship and move out of country.
Too many people think oh i'll just host off shore... which.. wont help you one bit.
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You are actually mostly correct.
Ownership is the path to liability. He who owns, pays.
There is no reason at all to renounce your U.S. citizenship, however. You don't even have to move.
However, there is no reason one must own the asset in order to control and benefit from it.
In Panama, for instance, it's possible to conceal the true owner of an entity while at the same time remaining in complete control. And it can be structured in a way that, even if the owner is discovered, it isn't you, so no liability can be attached.
What I'm trying to say is, if you relinquish ownership, but retain control, you're in a position to benefit totally but have no liability.