Offshore Company: How a foreign corporation can reduce …

Offshore company requirements for US citizens

The US government has some tight restrictions on offshore companies.

As a US citizen, youll need to disclose any interest in an offshore corporation on your taxes each year. The same goes for any offshore bank accounts you are an owner of or signer on, in most cases.

Failure to comply with these rules in the US (or any other western country that requires them) can lead to steep penalties. You can reduce taxes with an offshore corporation, but you wont benefit from a low tax if you get whacked with penalties and fees.

Tax deferment is one way for offshore companies to reduce taxes. The system in place lets you defer the taxes that will be imposed upon your company indefinitely.

You can take the money youre no longer putting towards taxes and reinvest it in your company. You wont have to pay these taxes off until you sell the company.

If youve been deferring taxes for a number of years, and using those funds to either continue to build your business or invest otherwise, you will be coming out far ahead of those who never start an offshore company. Try as those homebodies might to reduce taxes, tax-free compound interest from your offshore company will blow their onshore earnings out of the water.

Remember those bad blogs and articles from earlier? Well, offshore corporation misinformation isnt the only thing you need to be wary of

There are plenty of cheap start an offshore company service providers advertising on the internet. They offer the lowest price and the best results. Oxymorons.

Unless youre an African warlord, youll want to steer clear of these service providers. Flouting the law, avoiding and ignoring sound legal and tax adviceIf thats your M.O, the lowest-priced provider will get you set up in no time (I mean, maybethere are plenty of scams out there).

And while the process of forming an offshore corporation is straightforward (and can be done in a matter of minutes, in some countries), laying the proper groundwork before and after the official process is important.

You need to consult with a provider who understands the rules and regulations in your home country, which most so-called lawyers on some deserted island have no idea how to handle (since most of them are just deflated volleyballs with painted-on faces).

The best thing you can do is choose the right representative. Overpaying a little up front is a no-brainer when it comes to your peace of mind down the line. The next step after reduce taxes shouldnt be reduce jail time. Youre asking for trouble if you dont vet these cheap offshore corporation services before buying in.

Once your offshore company is approved and set up, the next step is to open a bank account (and possibly an offshore merchant account).

Whether or not youll have to physically travel to the bank depends on a few things, including where your company is incorporated, your nationality, and where you intend to bank.

But dont let that turn you off. The most important first step towards an offshore corporation is to simply take action. The sooner you get your business set up, the sooner you can enjoy the benefits. And it can be a life-changing processWhat other process lets you reduce taxes, insulate your assets from turmoil, and keep greedy hands away from your hard-earned assets?

Look, if youre serious about starting an offshore company, I might be able to help.

Every month I personally help five people build their own Nomad Capitalist lifestarting an offshore company, getting a second passport, opening an offshore bank accountwhatever they need to build more wealth and live a life with more freedom and success.

If youre ready to stop spending your time (and money) reading article after article on offshore companies, you might be ready for my help. Be honest with yourself, here.

If youre committed to pursuing the Nomad Capitalist lifestyle, then you should fill out this application. If my team and I decide youre a good fit, the next step is a phone call with me.

This isnt a free consultation, and this isnt a sales call where I try and convince you to do something you dont want to do.

I dont work with you unless youre already convinced this lifestyle is for you, and youre 150% committed to making it happen.

Your phone call will confirm that youre qualified for my services and that I can help you achieve your goals. When the call checks out, we get to work.

By the way, at five people a month, Im not cheap to work with (I dont need to be, and you shouldnt need me to be, either). If youre looking for the best spot to bury your gold, or a soapbox to spout your anarchist rhetoric, or a week to think it over then youre probably in the wrong place, and I cant help you.

Still interested? Lets see if I can help.

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Offshore Company: How a foreign corporation can reduce ...