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- Sep 6, 2009
"Fastlane" is an entrepreneur discussion forum based on The C.E.N.T.S Framework outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED®). From multimillionaires to digital nomads to side hustlers who are grinding a job, the Fastlane Forum features real entrepreneurs creating real businesses with one goal in mind: Freedom— both financial and temporal.
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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.Sorry but what is your question?
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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.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.
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.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).
Hi @ShakeItUp, thanks for the posts. I'm Australian too, been here more 30 years...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).
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 MJ. Any questions - ask away.
More than 50% of my clients are non US.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?
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