Hello everyone,
As a Shopify store merchant it says it is mandatory to have a SSN (Social Security Number) if you have an LLC registered in the US.
In reality, it is straight forward to form an LLC in the US, but if you don't have an SSN to enter in the designated mandatory field in the Shopify Payments settings, the LLC formation would be pointless.
I even asked the Shopify customer support for their advice and they confirmed the above. The problem is that I don't have an SSN because since I am not a US citizen but rather reside in the UK.
I want to pay either US tax or a different country tax which doesn't require me to be their citizen, and has low income taxes, and can be remotely formed.
As of January 2023, in the UK a sole trader would pay 45% on income of £150,000 or more.
As of March 2023, An LTD also in the UK, would pay 25% on income of £250,000 or move.
Yes, 25% is better than 45%, but if I can pay even lower, why not explore my options.
Which countries have the following?:
a) lower than 25% taxable income,
b) don't require you to be their citizen
c) can form a company in their country remotely (most desired LLC).
One I have read about before is the United Arab Emirates. Not sure how true it is.
OR are there better options than Shopify Payments? If yes, which ones?
I am looking forward to your suggestions and advice.
Thank you
As a Shopify store merchant it says it is mandatory to have a SSN (Social Security Number) if you have an LLC registered in the US.
In reality, it is straight forward to form an LLC in the US, but if you don't have an SSN to enter in the designated mandatory field in the Shopify Payments settings, the LLC formation would be pointless.
I even asked the Shopify customer support for their advice and they confirmed the above. The problem is that I don't have an SSN because since I am not a US citizen but rather reside in the UK.
I want to pay either US tax or a different country tax which doesn't require me to be their citizen, and has low income taxes, and can be remotely formed.
As of January 2023, in the UK a sole trader would pay 45% on income of £150,000 or more.
As of March 2023, An LTD also in the UK, would pay 25% on income of £250,000 or move.
Yes, 25% is better than 45%, but if I can pay even lower, why not explore my options.
Which countries have the following?:
a) lower than 25% taxable income,
b) don't require you to be their citizen
c) can form a company in their country remotely (most desired LLC).
One I have read about before is the United Arab Emirates. Not sure how true it is.
OR are there better options than Shopify Payments? If yes, which ones?
I am looking forward to your suggestions and advice.
Thank you
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