michaelrosmer

3 ms·

1. 1.▲
   by michaelrosmer 6y ago

   He can set up business ventures in Cyprus regardless but that wouldn't help him much in most cases as he's then going to trigger all the controlled foreign companies rules and if he renounces his US citizenship he's over the
2. 2.▲
   by michaelrosmer 6y ago

   FATCA doesn't create tax obligations it has nothing intrinsically to do with tax it has to do with financial transparency, which yes can help to catch people who are evading tax but if you're structuring your affairs legally FATCA
3. 3.▲
   by michaelrosmer 6y ago

   Yes and no. US taxes favor certain types of wealth accumulation and wealth accumulation over income. But US taxes aren't particularly good to the rich, certainly not by global standards and certainly not in many states. There absolut
4. 4.▲
   by michaelrosmer 6y ago

   Having a foreign citizenship doesn't change your ability to use international structures to reduce your taxes unless you give up your US citizenship. It is possible to use such structures in some cases without needing to give up your U
5. 5.▲
   by michaelrosmer 6y ago

   This in itself is not a tax dodge but if he wanted to this would set him up to be able to renounce his US citizenship and still have a good passport much like Edwardo Saverin and others.