Forming company abroad/offshore with bank account?

[ShaunRe]

Hey fastlaneforums,
I have been an avid fan of the whole fastlane theory as soon as I started reading the book. After a few years of constant work, struggles and money spent, I have created my online business that is profitable.

Now I am looking to find a way to open up a company abroad with a bank account all with the possibility of doing it online!

I know there are tons of services offering exactly that on google but I am not sure which ones are legit and actually trust worthy.
Is there anyone having an online business that has its company abroad/offshore with bank accounts as well? Would really appreciate and compensate your help somehow

 

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[GlobalWealth]

Hey fastlaneforums,
I have been an avid fan of the whole fastlane theory as soon as I started reading the book. After a few years of constant work, struggles and money spent, I have created my online business that is profitable.

Now I am looking to find a way to open up a company abroad with a bank account all with the possibility of doing it online!

I know there are tons of services offering exactly that on google but I am not sure which ones are legit and actually trust worthy.
Is there anyone having an online business that has its company abroad/offshore with bank accounts as well? Would really appreciate and compensate your help somehow

I do this and have several clients from the forum. I have also been a forum member for many years.

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[ShaunRe]

I do this and have several clients from the forum. I have also been a forum member for many years.

Sent from my SM-G900FD using Tapatalk

Do you mind sending me a PM about that? I am still interested and looking

Thanks

 

[GlobalWealth]

Do you mind sending me a PM about that? I am still interested and looking

Thanks

Sure. Np.

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[fhs8]

Why would you want to open a company abroad?

 

[GlobalWealth]

Why would you want to open a company abroad?

Opportunity
Simplicity
Cost savings
Tax benefits

Can you be more specific?

Remember. Not everyone is in your situation.

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[fhs8]

Opportunity
Simplicity
Cost savings
Tax benefits

The reason why you came up with that list is because you're in Latvia. US has much different laws and most people on this forum live in the US.

In the US if you start a foreign corporation you must still file that foreign corporation as doing business in the state. Then you have taxes which get a lot more complicated on top of that. There is no way it makes things more simple. It doesn't have cost savings because you have the cost of the foreign corporation and the cost of the corporation in the state you're doing business in. It doesn't have tax benefits unless you're talking about not reporting income to the IRS or you're talking about a US citizen living in another country which means they'll only get up to 100k deduction on worldwide income.

 

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[RazorCut]

The reason why you came up with that list is because you're in Latvia.

Why do you think he lives in Latvia?

Opportunity
Simplicity
Cost savings
Tax benefits

As he said:

Can you be more specific?

Remember. Not everyone is in your situation.

US has much different laws and most people on this forum live in the US.

Are you saying that only business information pertinent to the US should be provided on this forum? If so that is a very small minded view. I think you would be very surprised at the number of non-US members.

 

[GlobalWealth]

The reason why you came up with that list is because you're in Latvia. US has much different laws and most people on this forum live in the US.

In the US if you start a foreign corporation you must still file that foreign corporation as doing business in the state. Then you have taxes which get a lot more complicated on top of that. There is no way it makes things more simple. It doesn't have cost savings because you have the cost of the foreign corporation and the cost of the corporation in the state you're doing business in. It doesn't have tax benefits unless you're talking about not reporting income to the IRS or you're talking about a US citizen living in another country which means they'll only get up to 100k deduction on worldwide income.

I live in Latvia but I am American. I am very familiar with US tax and corporate laws as I have been doing this for a living for many years.

Clearly this is not the right path for you nor I am trying to convince you of that.

However not everyone on this forum is in your shoes nor do they maintain such a narrow worldview.

You are also incorrect on nearly every point you made above.

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