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GlobalWealth

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Sorry but what is your question?

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Eskil

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Just came here to say - to anyone who doesn't know Bobby / @GlobalWealth - he is an extremely knowledgeable guy in this field. Having personally seen a few of his presentations on this subject at the Fastlane meetups, there is no questioning the value and expertise that he and his services provide. Oh and, he's also a pretty cool dude :)
 

GlobalWealth

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Ironically I am currently in Panama City, Panama at a GWP Insiders event with clients.

We are walking them through getting Panamanian residency and visiting a private vault today.

One client is a British couple. Based on the strategies we are implementing for them they will save 6 figures in taxes thus funding their new nomad life.

Another client is a real estate investor. We are moving his liquid portolio offshore and re-establishing his real estate holdings to save a bit over $100k in taxes.

Clients like these are the reason I love this work.

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MTF

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Sorry but what is your question?

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My question is why you recommend LLCs in the US for non-residents if they most likely won't be able to open a bank account in the US or any other country in the world, which renders this structure pretty much useless for people outside the US.

The same applies to offshore companies - many internationalization experts say you can use them to reduce your taxes, but the only way to do that would be to have a tax residency in a tax haven/country with territorial taxation in the first place (otherwise if you want to do everything by the book, your offshore company is taxed in the country of your residence, so there are no tax benefits whatsoever).

I'm just trying to understand what I'm missing here...
 

GlobalWealth

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My question is why you recommend LLCs in the US for non-residents if they most likely won't be able to open a bank account in the US or any other country in the world, which renders this structure pretty much useless for people outside the US.
The US is the largest tax haven in the world....just not for Americans. Using a US LLC for investments allows foreign investors to take advantage of asset protection benefits as well as tax exemption on capital gains (minus real estate) and huge tax incentives. It is actually quite easy for a foreigner to open a bank account for their LLC. They would just need to apply for an ITIN and use that when applying for the LLC's EIN.

The same applies to offshore companies - many internationalization experts say you can use them to reduce your taxes, but the only way to do that would be to have a tax residency in a tax haven/country with territorial taxation in the first place (otherwise if you want to do everything by the book, your offshore company is taxed in the country of your residence, so there are no tax benefits whatsoever).
Again, not necessarily true. But to be honest this is too complicated of a question to answer in this forum. This requires in depth research for each individual situation as factors such as nationality, residency, source of income, product type, nature of income, and other factors matter to get a real answer.
 

Mckenzie

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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).
Hi @ShakeItUp, thanks for the posts. I'm Australian too, been here more 30 years...
How did you find the Insider membership so far? Is it still good and valuable as an Australian, non-US citizen? Like you, I've been looking for these kind of info a long time, and not found much legit ones that I can trust.
Thanks
 

Mckenzie

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Thanks MJ. Any questions - ask away.
Thanks @GlobalWealth. I've been reading your other thread on live rent free, and now found this. I'd like to check your Insider out and learn more about this thing. I'm Australian, so are your teachings in there applicable for the non-Us citizen? And do you mind if I ask what's the cost joining the Insider?
Thanks
 

GlobalWealth

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Thanks @GlobalWealth. I've been reading your other thread on live rent free, and now found this. I'd like to check your Insider out and learn more about this thing. I'm Australian, so are your teachings in there applicable for the non-Us citizen? And do you mind if I ask what's the cost joining the Insider?
Thanks
More than 50% of my clients are non US.

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