3 ms·
Can't you just incorporate a Wyoming LLC (zero corporate tax + federal tax because you're non-resident in the US) then just open a Wise account? Wyoming LLC gi
by fakedang 4mo ago
Can't you just incorporate a Wyoming LLC (zero corporate tax + federal tax because you're non-resident in the US) then just open a Wise account?
Wyoming LLC gives passthrough taxation, and because you're in Germany, you'll be subject to German corporate and personal taxes alone, I presume?
Edit: changed from just personal tax to personal+corporate
- petesergeant 4mo agoFinanzamt may well decide this is a German company in the cunning disguise of a cowboy hat, and charge it German corporate tax
- fakedang 4mo agoWhich is still fine imo. My idea was not about skipping German corporate or personal taxes - it was about skipping German bureaucracy.
- petesergeant 4mo ago> it was about skipping German bureaucracy By creating a company that requires a special filing status to the German tax office?
- fakedang 4mo agoOuch, is that painful too? Damn.
- barrenko 4mo agoBookmarking for my personal posterity.
- ExpertAdvisor01 4mo agoWhat should the US LLC do ? It will end up being treated like a GMBH in Germany (keyword : Typenvergleich ) and you will have to do all the bureaucracy in the us + Germany and end up paying the same taxes
- fakedang 4mo agoThe point I thought was a plus was that you'd be paying German taxes without all the German bureaucracy? Because there's definitely no bureaucracy for a Wyoming LLC except for a couple of IRS forms annually.
- r_lee 4mo agofrom what I know this is very much possible, you can also use tax treaties to transfer taxation to Germany. e.g. Irish Ltd that is a resident in Germany you won't have to bother with the naming problems etc. either
- ExpertAdvisor01 4mo agoUnfortunately it doesn't work like that. You are just adding us bureaucracy+ dual accounting (euro/USD) to German bureaucracy where nothing changes .
- fakedang 4mo agoMy point is that US bureaucracy is very minimal - like I said, just need to submit a couple of forms to the IRS as a foreign-owned LLC.
- eagleal 4mo agoDo not know Germany's specific tax code, but in most EU countries should a control fire up it would result in tax evasion (not even tax avoidance), as in this case Germany can easily demonstrate the center of control is in fact in Germany. Especially as you will have to file tax forms and disclosures for your salary. You guys might want to take a consultation with a proper accountant/tax advisor for these setups.