Quote:
Originally Posted by TheDoc
Americans that stay in the Country and own a Company now can't just move the assets out of the Country, that's not legal. If you do setup an off shore Company and wish to avoid U.S. taxes, most of your company/staff/assets have to move off shore too. Otherwise, you avoid nothing. If this is for legal reasons and you live in the Country, host, register, ect, this protects nothing.
Americans are boned, if you want out, move, and file your papers for under $80k a year to stay safe or expatriate and stop paying taxes and give up your citizenship.
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There is actually a very popular offshore structure designed for North Americans in order to "minimize" taxes and safe guard assets, it uses a Panama Foundation owing a Belize IBC or corporation. The legal point here is that the foundation does not have "owners" only "beneficiaries" the result of which is the corporation and bank account opened by the foundation do not need to be reported to the Gov't since you are not the "owner" or "beneficial owner".
The foundation and/or the IBC can own assets and generate income that is tax free ;-)