The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

MARKETPLACE New Forum Sponsor (Global Wealth Protection)

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

  • Thread starter
  • Admin
  • #1

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
29,841
105,532
3,751
Fountain Hills, AZ
Please welcome a new sponsor to the board, Bobby Casey, although @GlobalWealth has been around this neighborhood since we broke ground years ago.

He offers information/knowledge regarding asset protection and investment alternatives that go beyond your simple IRA, or a US based index fund. Some detail...

This membership product is unlike anything in the marketplace. We are using our experience and rolodex of connections to bring you information about how to move your business offshore, protect your wealth in a private manner and explore the world as a virtual nomad. Every month you will learn ways to make your business and your wealth completely anonymous - like John D Rockefeller stated, "Own nothing, but control everything". You will learn strategies for setting up and using proper offshore structures for your business and your investments, how, where and why to obtain 2nd residency and/or citizenship, how, where and why to invest in foreign real estate, precious metals investment and storage offshore and much more. Members can join monthly live webinars as well as join at live members events around the world. Additionally members get huge discounts on domestic and offshore corporate services, trust and foundation administration, opening offshore bank and brokerage accounts and more.

More info...

https://globalwealthprotection.leadpages.net/offshore-ecommerce-guide-fastlane/

Or

globalwealthprotection.com (which has a lot of free resources/articles)

If you have questions for him, I'm sure he'd respond here. :)
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Last edited:

Iwokeup

Aut viam invenium aut faciam
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
May 23, 2014
1,337
3,635
896
The East Coast
At what financial point should an entrepreneur consider offshore/anonymous wealth protection? Or asked another way, who is your ideal "entry level " client? Thanks!
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
If you see our forum sponsor link it's for our free offshore ecommerce report. Anyone serious about taking those steps should consider our membership group. That is an information product educating entrepreneurs on offshore strategies as well as free consultations, monthly live webinars, live events and product discounts. Thats our entry level product.

Anyone with a virtual business can benefit from strategies we discuss.

Beyond that, for offshore corporate services - there isn't really a threshold. We have startups that go offshore from the beginning. Some are well established companies. It really depends on your business if its viable for you. Thats why we have the membership group that allows members to learn as well as get free consultations to assess their situation.

As for offshore asset management. You should probably have a 1mm net worth.
 

Bila

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Dec 2, 2014
591
1,085
376
Ontario Canada
Great newsletters that i recommand signing up for ..... Eventhough, politically sometimes we are not on the same side;) Great insight nevertheless
 
G

GuestUser156

Guest
I have a question, which I hope you could answer for me.

I have thought about moving my company from Denmark to Estonia.

We do B2B. Just two owners selling over the phone and in person.
We don't have an office, warehouse or any employees. Everything is outsourced.

My main concern is invoicing.
I would have to send invoices from the Estonian company with EBAN/SWIFT codes to Danish companies, right?
Not sure what they would think about this. They usually just enter an account number and transfer the money.
Besides, I believe most companies would prefer to do business with a company, that pays corporate taxes in the country, where they are doing business.

What are your thoughts on this? :)

Thanks for your time.
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
Great newsletters that i recommand signing up for ..... Eventhough, politically sometimes we are not on the same side;) Great insight nevertheless
Thanks Bila. I am well aware that we are not "mainstream" in our views and what we write about. We are trying to get our readers to see a different viewpoint, agree or not. People never learn when they continue to read viewspoints perfectly aligned with their own.
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
I would have to send invoices from the Estonian company with EBAN/SWIFT codes to Danish companies, right?
Not sure what they would think about this. They usually just enter an account number and transfer the money.
Besides, I believe most companies would prefer to do business with a company, that pays corporate taxes in the country, where they are doing business.
You are overly concerned about this. It is an irrational fear to be honest.

First of all, Estonia is in the EU. It's no different than transacting with a company in Germany, Czech Republic, or Finland. TFEU (treaty of the functioning of the european union) expressly permits cross border transactions and eliminates borders from a business perspective.

Do you think google is concerned that their clients will think less of them because they have an Irish operating company and a Dutch holding company for tax minimization?
 
G

GuestUser156

Guest
You are overly concerned about this. It is an irrational fear to be honest.

First of all, Estonia is in the EU. It's no different than transacting with a company in Germany, Czech Republic, or Finland. TFEU (treaty of the functioning of the european union) expressly permits cross border transactions and eliminates borders from a business perspective.

Do you think google is concerned that their clients will think less of them because they have an Irish operating company and a Dutch holding company for tax minimization?
I understand your point, and I think you're right.

But I think there's a difference here, as we're not a global company like Google, but a business operating only in Denmark.

Hmmm ... I'll think about it. I just believe I'd have some explaining to do with customers, when they see our address, bank info etc. on the invoice. Well, maybe not :rolleyes:.

Thanks for your help :).
 

MTF

Never give up
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 1, 2011
2,871
13,987
2,804
@GlobalWealth, I have a slightly different question... I really love the concept of internationalization, and particularly having your entire life (personal stuff, business, investment) spread over different countries. I've read a lot about having a foreign bank account, second residency, offshore companies, etc.

What interests me the most at the moment, though, is how you scout business and investment opportunities in different countries (like your idea of renting apartments in various countries through Airbnb). Is such stuff (not necessarily Airbnb, I'm talking in general about international opportunities) mostly reserved for people with more capital or do you also have some tips for people who'd like to start, but don't necessarily have six figures to invest right away? Also, any particular tips for conducting business/investing in developing countries?
 

Don't like ads? Remove them while supporting the forum. Subscribe.

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
is how you scout business and investment opportunities in different countries (like your idea of renting apartments in various countries through Airbnb). Is such stuff (not necessarily Airbnb, I'm talking in general about international opportunities) mostly reserved for people with more capital or do you also have some tips for people who'd like to start, but don't necessarily have six figures to invest right away? Also, any particular tips for conducting business/investing in developing countries?
This is a pretty vague question so I'll do my best. If you have a more specific question fire away.

For me personally, I have a couple of businesses already:
  • US domestic corporate services (registering LLC's)
  • Offshore corporate services (registered IBC/LLC's)
  • Offshore trust and fiduciary services
  • Consulting (same topics)
  • Membership site (same topics)
All my business are interrelated so it is not like I have 5 separate jobs. But it is enough.

I am not looking for business opportunities that require additional time input. I am only looking for more clients that fall within my core area of competence.

If I find a business opportunity that requires time, I don't investigate it. I am only looking at investment opportunities.

And for me personally, I am primarily looking at real estate and private business.

The airbnb thing is an excellent choice because it fits my lifestyle. I can earn a nice yield while getting to live rent free in multiple countries. I assume you saw my thread here:

https://www.thefastlaneforum.com/community/threads/live-rent-free-in-multiple-countries.59964/

This explains in detail how I source these deals.

Hard assets like real estate are perfect for me. They give me a way to "park" cash outside of the banking system, get paid rental income, AND get a free place to live. It requires very little time on my behalf - which is a requirement - but yields considerably more than I could get in the stock market.

Yes, you are at risk of falling real estate prices - but you have this risk with any investment. At least with real estate, even if it falls by 50%, I still have a place to live.

As for private business investments. I am looking for unique but simple investments that are win/win for both me an the entrepreneur and pay me so much that it is silly for me to NOT invest.

I recently made a private investment that is a combination of an interest bearing loan and a percentage of profit. I have a friend who needed a new piece of heavy equipment in his business but he has bad credit from the housing crisis and not enough cash to buy it. So I made him a deal loaning him money to buy the equipment at a very good interest rate PLUS a percentage of profits until the equipment is paid off. We bought this piece of equipment used at a very good price so even if the business falls apart, I can always sell the equipment to recoup my investment.

It was a great deal for both of us that will increase his monthly income by almost 50% and my net yield runs around 25% per year or more depending on how he does.

In this case, I only invested because I know the guy very well. And I know how he runs his business.

So in short, I invest in unique but simple businesses where I personally investigate the business opportunity and know the entrepreneur. I want to know the margin of error is so big, it is almost impossible for me to lose money. Like above, I can always sell the equipment, or the apartments to recoup my investment.

That's not to say I wouldn't invest in a business without hard assets, but I would need to know the entrepreneur REALLY well.
 
Last edited by a moderator:

MTF

Never give up
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 1, 2011
2,871
13,987
2,804
Thank you, @GlobalWealth.

Regarding Estonian banks, which bank do you recommend the most? I've looked into the ones mentioned on the e-estonia.com site (LHV, Swedbank, and SEB) and it seems LHV is the best choice. My Estonian friend told me they're the smallest bank, but the most innovative one (I can tell by the site).

Which bank do you generally recommend for people looking for the ease of international use?
 

Esquire

Divorce Shark
FASTLANE INSIDER
Speedway Pass
Oct 13, 2012
749
1,759
571
Connecticut
Doesn't opening an account with a foreign bank heighten your risk for an IRS audit ...?

And aren't there some sort of special reporting requirements when you open a bank account with a foreign bank ...?

Those would be my top two concerns ... what are your thoughts?
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
According to the cpas we work with, as long as you file properly there is zero increase in audit risk.

As for filings. You need to file is you have more than usd10k in aggregate in foreign accounts. Nothing complicated though.
 

JasonR

Maverick
EPIC CONTRIBUTOR
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
May 29, 2012
2,036
10,536
2,556
Traveling
Just wanted to chime in and say Bobby (@GlobalWealth) is a walking Wikipedia article on this stuff. I sat down with him for a day and I'm pretty sure he know 99% of the questions I asked him. I currently hadn't been out of the country much...

But now I'm typing this in Bali.

Again, Bobby knows his sh!t like no one else I know when it comes to this stuff.
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
But now I'm typing this in Bali.
Mad props for following through with it. And I know for a fact you do not now, nor ever will regret it. I bet it has already changed your worldview.

Again, Bobby knows his sh!t like no one else I know when it comes to this stuff.
Thanks again. I hope something we discussed was at least a little useful.
 

MTF

Never give up
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 1, 2011
2,871
13,987
2,804
@GlobalWealth, just wanted to let you know that I joined GWP Insiders mostly because of your generous advice here. I'm looking forward to learning more from you both here on the forum and on your site (and hopefully in person soon).
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
@GlobalWealth, just wanted to let you know that I joined GWP Insiders mostly because of your generous advice here. I'm looking forward to learning more from you both here on the forum and on your site (and hopefully in person soon).
Hey MTF,
Glad to have you as a new member. There is a wealth of information in there about foreign residency, 2nd citizenship, asset protection, moving your business offshore, investments, and more.

Make sure to view our webinars from the last 2 months. In May we started doing live webinars for members. May was, "Become an Offshore Real Estate Mogul and Live for Free" - we discussed how to invest in foreign real estate and rent out short term for a solid yield and a free place to live. I did a post on the forum about this topic but the webinar goes into much more detail.

June was, "Take Control of Your Retirement Accounts NOW" - we discussed how to self manage your IRA or 401k and invest in precious metals, foreign or domestic real estate, private businesses and more.
 
Last edited by a moderator:

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
For anyone interested, our July live webinar for members is on 7/16/15 at noon est. It is "Taking Your Online Business Offshore". We will discuss the step by step strategies of how and why to take your virtual business offshore to protect your assets and save on taxes.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

MTF

Never give up
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 1, 2011
2,871
13,987
2,804

ShakeItUp

New Contributor
Read Millionaire Fastlane
Apr 30, 2011
16
9
28
Sydney, Australia
I own a portfolio of ecommerce businesses and have been considering offshoring (business first, then myself) for over a year now for tax / lifestyle reasons. I've also done periods of "perpetual traveling" (on and off for months to a year at a time) myself, and frankly being stuck in Australia is starting to get a bit suffocating :)

@GlobalWealth I am very interested in your GWP insider membership. However, my businesses and residency are Australia based and I am a bit concerned about one thing. How much of your content is US centric?

For example, the GWP Insider sales page definitely does sound like large chunks of the content will be targeted mainly to US residents (self directed IRAs, 401Ks etc).

I do understand that there are equivalents concepts for Australians (self managed super funds etc, which I am already utilising), but I would still like to know how much of the content is specifically targeted to US members.
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
@GlobalWealth I am very interested in your GWP insider membership. However, my businesses and residency are Australia based and I am a bit concerned about one thing. How much of your content is US centric?
We have clients from all over the world. Admittedly about 50% are American so we do "speak" to that audience, but nearly all of our strategies are able to be implemented by other nationalities.

Of course the information about IRA/401k's and offshore tax planning for Americans is American-centric, but we work with many "commonwealth" clients as well.
 
Last edited by a moderator:

ShakeItUp

New Contributor
Read Millionaire Fastlane
Apr 30, 2011
16
9
28
Sydney, Australia
We have clients from all over the world. Admittedly about 50% are American so we do "speak" to that audience, but nearly all of our strategies are able to be implemented by other nationalities.

Of course the information about IRA/401k's and offshore tax planning for Americans is American-centric, but we work with many "commonwealth" clients as well.
Thanks for the reply, that does clear it up.

As I mentioned, I do understand that tax planning is an individual thing anyway and strategies need to be tailored to each individual situation, so I am not too concerned with that. I will definitely get the Insider membership as I can see the wealth of information you have contributed on this forum alone!

However a bit of feedback, much of your pre-sale material is highly US centric (e.g. your email newsletters) and would be turning off potential global customers. e.g. the autoresponder email which I got today was 100% geared towards someone living under a US tax system, and had I not already spoken with you on here that would have turned me off the entire GWP Insider offering.
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
Thanks for the reply, that does clear it up.

As I mentioned, I do understand that tax planning is an individual thing anyway and strategies need to be tailored to each individual situation, so I am not too concerned with that. I will definitely get the Insider membership as I can see the wealth of information you have contributed on this forum alone!

However a bit of feedback, much of your pre-sale material is highly US centric (e.g. your email newsletters) and would be turning off potential global customers. e.g. the autoresponder email which I got today was 100% geared towards someone living under a US tax system, and had I not already spoken with you on here that would have turned me off the entire GWP Insider offering.
Thanks for the feedback. I will definitely take a look at the autoresponders.

Sent from my SM-G900FD using Tapatalk
 

ShakeItUp

New Contributor
Read Millionaire Fastlane
Apr 30, 2011
16
9
28
Sydney, Australia
Thanks for the feedback. I will definitely take a look at the autoresponders.
I just signed up. For anyone here considering the membership, I can state that the articles and info in the members only section are awesome. I have been looking for similar information for months now and short of questionable sources and anecdotal information, its VERY hard to find a reliable source of information like this.

Another question for @GlobalWealth - are the webinars recorded for later viewing? I might have missed this week's webinar by just a few hours, and can't find a link. (I know I can ask the GWP support team, but I figured this might help others here as well).
 

GlobalWealth

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Sep 6, 2009
2,436
5,132
1,314
Latvia
Another question for @GlobalWealth - are the webinars recorded for later viewing? I might have missed this week's webinar by just a few hours, and can't find a link.
yes, all webinars are recorded and available to view in the members area. The one yesterday, "Take Your Online Business Offshore" will be up in a couple of days. We need to edit and upload it.
 
Last edited by a moderator:

MTF

Never give up
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 1, 2011
2,871
13,987
2,804
https://www.streber.st/2015/08/offshore-usa/

Not sure how legit this guy is, but what's the point of opening a US LLC as a non-resident if it's close to impossible to open a bank account in both the US and in other countries? Seems that there are relatively few legit options for non-US residents (including offshore LLCs that, according to the law in most countries, must be taxed in the country of the residence of the owner/majority of shareholders).

Is it possible to a US bank account for a non-resident-owned LLC or corporation?
No, probably not. At least not without having former ties to the US (citizen or resident alien with a SSN) or being a well-established business setting up an entity in the US.

It is almost unheard of for a US bank to take on a newly formed non-resident company, irrespective of whether it’s incorporated in the US or elsewhere.

There are very few ways for a non-resident foreigner to bank in the US. Placing a large deposit (500,000 USD and up) or showing proof of high turnover (at least 1 million USD) can get your foot through the door.

I have seen a couple of cases where international banks such as HSBC and Citibank have agreed to open accounts for non-US residents who are resident in territories where these banks have a significant presence.
Will a non-US bank accept a US company?
Maybe, if you can show significant enough capital. As I mentioned above when talking about FATCA, because of the extra compliance work involved in handling a US client, the minimum deposit tends to be much higher.

It can be very difficult to find a bank willing to take on a US entity. If you for example are resident in Europe and try to approach European banks, the bank will be suspicious as to why you aren’t just operating under a European company.

Small Caribbean banks are terrified of getting something FATCA-related wrong and may say they don’t accept any form of US entities, fearing that a simple slip-up would cost them 30% of their USD transaction, on which they are almost wholly dependent.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Thanks for sharing. I want a course to optimize for other than Google engines.
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Welcome to 2020, I wanted to add in a quick note about gratitude for the new year...


Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom
AdBlock Detected - Please Disable

Yes, ads can be annoying. But please...

...to support the Unscripted/Fastlane mission (and to respect the immense amount of time needed to manage this forum) please DISABLE your ad-block. Thank you.

I've Disabled AdBlock