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Living on a boat and avoiding taxes
- Thread starter Fishbird
- Start date
Quote from Runningbear:
If you make yourself a director of the IBC it doesn't work. You still have to provide the names and IDs of all company directors to open the brokerage account. And without the brokerage account you can't trade.
If the broker has your name and that broker is in a country that has a tax treaty with the country you reside in, it is very easy to link you to the IBC. And if you haven't revealed the fact that you have an IBC on your tax return, you're in serious SH%T.
You need nominee directors to be at arms length. There is no other way around it.
Runningbear
Wouldn't the US IRS send tax information only to the domicile of the tax-free IBC, instead of to the country of residence of the director?
If the IBC makes money, the IBC should be taxed (or not taxed in tax-free country), not the director??
of course i might be wrong.. so i ask again: is it easy to open a, say, interactive brokers account through an IBC?
there are several jurisdictions that offer anonymous director corporations.
ps. of course the director would sign the application, but again, it's not the director that is taxed, but the corporation, so why would the US IRS do anything with that?
You gave the answer. Up till now, the US will tax you on the basis of NOT having a tax treaty with Croatia. They are still bickering about a possible future treaty, it it seems. Would be surprised the US will let Croatia off the hook with zero capital gain tax under a bilateral tax treaty. Let's wait and see.Quote from science_trader:
Found on the net...
Croatia is an attractive partner for foreign investments. The framework for U.S. business investments is in place: Most Favored Nation and GSP status, a Bilateral Investment Treaty that was signed in 1996, and treaties on the avoidance of double taxation and protection of intellectual property rights are currently being negotiated.
In fact countries like Andorra, Cayman, Nevis are all without tax treaty. US brokers dealing with individuals or IBC's domiciliated in such countries will look to it that US tax law is complied with. You will be taxed in the US in this case.
Quote from nononsense:
You gave the answer. Up till now, the US will tax you on the basis of NOT having a tax treaty with Croatia. They are still bickering about a possible future treaty, it it seems. Would be surprised the US will let Croatia off the hook with zero capital gain tax under a bilateral tax treaty. Let's wait and see.
In fact countries like Andorra, Cayman, Nevis are all without tax treaty. US brokers dealing with individuals or IBC's domiciliated in such countries will look to it that US tax law is complied with. You will be taxed in the US in this case.
Switzerland is an example.
US is tax free for non-resident corporation's capital gains.
Quote from nononsense:
You gave the answer. Up till now, the US will tax you on the basis of NOT having a tax treaty with Croatia. They are still bickering about a possible future treaty, it it seems. Would be surprised the US will let Croatia off the hook with zero capital gain tax under a bilateral tax treaty. Let's wait and see.
In fact countries like Andorra, Cayman, Nevis are all without tax treaty. US brokers dealing with individuals or IBC's domiciliated in such countries will look to it that US tax law is complied with. You will be taxed in the US in this case.
So the least you need, is a corporation domiciled in a country with a tax-treaty, which as well doesn't tax non-resident income. UK ltd. maybe?
US is tax free for non-resident corporation's capital gains.
Yes, the US is one the BEST tax havens for non-residents.... if you are not a citizen... they will help you get around your countires laws to park money here and not pay taxes...
Unfortunatly for the citizens, the US knows all the tricks of the trade so they pass laws that prevent us from doing anything...
The US is freedom... but within norm
freedom of religion... but within norm
freedom of press... but within norm
freedom of all sorts of things... but within status quo.
imo
Quote from nononsense:
Yeah, under a bilateral tax treaty.
Actually not. The last time I looked at it (I think it was on greencompany.com so it's worth what it's worth), if you are a non-resident CORPORATION, you don't pay capital gain taxes, whatever a tax treaty is existent or not. This is different for non-resident INDIVIDUAL.