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- Jul 27, 2022
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If the business needs to be incorporated in Norway and you intend to live in the US, I would honestly avoid it for now.Dubai or Abu Dhabi can be great options once the business is already somewhat established and runs on its own, let's say $30m-$40m in revenue then I might consider allocating some capital into a corporation in Dubai or Abu Dhabi. I think the best option might be to just stay in Norway and grow the business there instead of doing it remotely.
As far as the US citizenship is concerned, I know some people who are in Andrew Tate's War Room who can fix the Visa/Passport problem within a couple of weeks.
Because the whole idea was to live in the US and run the company remotely that has a physical location in Norway with one or two employees at the beginning.
It will be a huge pain in the a$$ dealing with tax compliance in the US and the various requirements (FBAR, F8938, GILTI, Subpart F, etc) regarding controlled foreign corporations (CFCs) and foreign entities owned by what the IRS defines as "US Persons".
For example, if you are a resident of the US and you are the ultimate beneficiary owner of 10% or more of the voting stock of a foreign company, you have to pay personal income tax on the income generated by the business proportional to your percentage of ownership, even if the income isn't distributed!!! So if the business earns 1 million in profit, and you own 100% of the business, you're on the hook for paying taxes in the US for that 1 million, even if the company doesn't pay out any dividends.
The US is incredibly unfriendly to people who own businesses overseas...
If you decide to structure your business this way, definitely consult with an international tax attorney in the US and have a plan.
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