> Can I just deposit my checks in the UK bank account, pay no taxes, and use the money in the US without violating any British laws? What about when traveling t

> Can I just deposit my checks in the UK bank account, pay no taxes, and use the money in the US without violating any British laws? What about when traveling to the UK or EU? Yes, but this isn’t particularly surprising — I’d expect it to work the same way everywhere. The Brits would love you to deposit your money into their banking system, and if you’re not resident in the UK and the income hasn’t arisen in the UK there’s no tax basis for it there. In your scenario, the problem is American CFC rules, where they’ll effectively declare your IOM company to be an American company, and tax it on that basis. Also if you’re tax resident somewhere (the US in your example), they’ll usually tax your worldwide income (although jurisdictions vary). Finally, though, if you’re an American citizen, it doesn’t matter where you’re tax resident, you still owe the IRS.