Trying to open a Bank Account for our Saint Vincent and the Grenadines LLC it was very difficult asides from Caye Bank we had to put minimums of 100k for a bog standard checking account in Mauritius.
Substance matters so much these days that at the end of the day, either multi-company structures, or structures which use tax treaties and management and control rules to your advantage to gain tax favorable status will matter.
You mentioned foreign income exclusion for US citizens I looked it up on IRS website and I found a foreign housing exclusion also Can you explain what that is?
There is a foreign earned income exclusion and a foreign housing exclusion. You can get an exemption on some income for the cost of foreign housing required to perform your job overseas. You can also exclude from US taxation job income earned if you are a bonafide resident of a foreign country up to a specified amount which changes annually. Or if you are outside the US 335 days a year. It's about $120k a year now for the foreign earned income exclusion. I am not sure about the foreign housing exclusion, but it is considerably less than the earned income exclusion. Alternatively the foreign tax credit may reduce or eliminate US tax liability for Americans living overseas, but that is because you were paying taxes in the country you live in to them which exceed the US taxes due.
Trying to open a Bank Account for our Saint Vincent and the Grenadines LLC it was very difficult asides from Caye Bank we had to put minimums of 100k for a bog standard checking account in Mauritius.
Substance matters so much these days that at the end of the day, either multi-company structures, or structures which use tax treaties and management and control rules to your advantage to gain tax favorable status will matter.
Thank you for you awesome videos!🙏
You mentioned foreign income exclusion for US citizens I looked it up on IRS website and I found a foreign housing exclusion also Can you explain what that is?
There is a foreign earned income exclusion and a foreign housing exclusion. You can get an exemption on some income for the cost of foreign housing required to perform your job overseas. You can also exclude from US taxation job income earned if you are a bonafide resident of a foreign country up to a specified amount which changes annually. Or if you are outside the US 335 days a year. It's about $120k a year now for the foreign earned income exclusion. I am not sure about the foreign housing exclusion, but it is considerably less than the earned income exclusion. Alternatively the foreign tax credit may reduce or eliminate US tax liability for Americans living overseas, but that is because you were paying taxes in the country you live in to them which exceed the US taxes due.
How about the safest countries to avoid radiation death from thermal nuclear war?
Mauritius, Paraguay.
The northern hemisphere would he screwed. Southern hemisphere countries like New Zealand for example
Where can i get my hands on this blacklist? Specifically for Italy?
Google is your friend. The EU and Portugal blacklists are readily available and the FATF black and grey lists are readily available.