Offshore Tax Planning and Citizenship By Investment

CEO in HF - Other

Hi,
Was wondering if this could be a good time to invest in a citizenship abroad in a tax efficient country and setting up offshore structure abroad?
Any knowledgeable people on the subject?

Comments (5)

Apr 3, 2020

Not sure if now is a great time to invest but IMO this is definitely a growing trend especially among online business owners, day traders, tech contractors, etc. I am not an immigration lawyer or tax accountant but have done some research on CBI programs and offshore companies (and am currently going through the process). What exactly is it that you are looking for?

  • CEO in HF - Other
Apr 3, 2020

Somewhere where you can get a passport in maybe a few months time.

Apr 4, 2020

If you are a US citizen you are required to report foreign assets under FATCA. Having a foreign citizenship will not be a method of blocking this reporting of assets. Under FATCA you don't have to report your assets if they are under certain threshold, and since you are responsible for valuing your own assets..... I'll leave it at that. Additionally, the only benefit I see to having a foreign passport is that you wouldn't be triggering any US reporting compliance on the part of a foreign bank. with that i guess you could hold unreported assets overseas, but you are technically breaking the law and once you try to bring back the assets to the US you'll be taxed anyways. There are ways to avoid taxation for corps look up "check the box regs" and "Sub part F" if you are really trying to get into it.

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  • CEO in HF - Other
Apr 4, 2020

Not a US Citizen

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Apr 4, 2020
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