A great video. I have found similar results when consulting with several US tax attorneys on this process. Be careful with TikTok shop and a US 25% ultimate beneficial owner, or Mercury that does not allow an SM LLC DE anymore.
I am a Canadian citizen. I run an online marketing business for clients based in Canada, and the US. I want to open a US LLC. Does this method work for Canadians? Is there a way to reach you for consultation on this?
Hello, thank you for all information tuomas. I would ask about your workflow from 1:40 to 2:30. For me if I get some deals with US companies and my audience based in US CANADA, EUROPE. Are these payments taxable? what i want to get to as non us resident if I transfert profit company to my personal account in my home country. What specific taxes should pay in US ? becauce you are know penalities.
If you have customers in US that does not affect taxes in any way. If you have a non US LLC as a non-US resident without US employees, comntractors etc then there is no US tax to pay in GENERAL (there are exceptions, this is not tax advice). Your US LLC as well as money you take out personally will be taxed according to the laws of your country of residence.
@@tuomaskiv thanks for answer me. So The ITIN isn't necessary in this case when I want set up tax returns ? EIN is enough because I pay taxes in my home country.
having clients in the US should not change anything as long as you don't have employees/big contractors sitting in US and/or you don' personally run it from there
Choosing between New Mexico and Wyoming for your LLC depends on your priorities. Wyoming is popular for its strong privacy protections, low annual fees, and business-friendly policies, making it ideal for most non-U.S. residents. New Mexico offers low fees and privacy as well, but doesn’t require annual reports, which can reduce ongoing costs. However, New Mexico LLCs don’t have the same level of legal protections for members as Wyoming. If you want personalized guidance on the best state for your business, you can book a free consultation with us.
No, you aren't technically "sending funds to UAE" because as a UAE resident the US LLC is also resident in UAE, from the US perspective the LLC profits are not taxed in US as they are non-US sourced and they flow automatically to the owner.
Yes, currently the IRS can take up to 8 weeks to issue an EIN for non-U.S. residents when applying by mail or fax. Since Stripe requires an EIN to set up a U.S. account, this processing time may delay your ability to use Stripe. If you need quicker access to an EIN, sometimes forming an LLC with a service provider like doola can streamline the process. For more help on setting this up, book a free consultation with us.
Hey Matias, How much can I pay myself as a salary in the UAE from my company for it be considered "reasonable" ? As in, can I pay myself 20% of the monthly profits to myself as a salary, or 30% or even 50% etc.. 💪
It's not about % of profits. Rather, you should pay yourself an amount equivalent to what someone else would pay you to work at their company or what you would pay someone else to do your job at your company. That's about as clear as we can understand it for now haha
@@alexandrudodon1 So if your business makes $500K in profit, you should pay yourself the same amount as if your business did $5M since it's not percentage-wise?
@@HilloFX exactly, but you can also deduct other business expenses as well and whatever is left would be considered profit that you pay the 9% on. Your salary is also considered a business expense that you can deduct, so that's why it has to be a reasonable amount that you would normally pay others.
@@alexandrudodon1 Thanks for replying, really appreacite this intel! What about those 6/12 month profit takes the CEO gets? Is there any way I can calculate from the profits or any other indicator how much I could pay myself as a "bonus" each 6 or 12 month period?
Yes, if you use your LLC to invest in the stock market and earn dividend income, it is subject to taxes. However, how you’re taxed depends on your LLC's structure (e.g., single-member LLC, multi-member LLC, or taxed as a corporation). For most LLCs, the income "passes through" to your personal tax return, so you’d report and pay taxes on the dividends as an individual. If your LLC is taxed as a corporation, dividends may face corporate income tax, plus potential taxes if distributed to you personally. A tax professional can help you plan for this efficiently, you can book a free consultation with us if you still need help with this.
🚀 Form a US LLC with 10% discount: Use code DOOLATUOMAS10 at check out - partnersps.doola.com/pkmiw0zakyp9 🇺🇸 Mercury US bank account - get $250 FREE & expedited approval - mercury.com/r/internet-made-coder-llc
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
As a Canadian, I was able to get a US ITIN. It's a pain but you can definitely get it.
A great video. I have found similar results when consulting with several US tax attorneys on this process. Be careful with TikTok shop and a US 25% ultimate beneficial owner, or Mercury that does not allow an SM LLC DE anymore.
Proof address is required to open stripe, mercury etc… It’s not so easy, and nobody talks about that. Can you help?
I am a Canadian citizen. I run an online marketing business for clients based in Canada, and the US. I want to open a US LLC. Does this method work for Canadians? Is there a way to reach you for consultation on this?
Wow suuuper confuuusing
what about the mercury new thing that requires you to have us operations or otherwise they close your account ?
Not heard of this, please elaborate
Hello, thank you for all information tuomas. I would ask about your workflow from 1:40 to 2:30. For me if I get some deals with US companies and my audience based in US CANADA, EUROPE. Are these payments taxable?
what i want to get to as non us resident if I transfert profit company to my personal account in my home country. What specific taxes should pay in US ? becauce you are know penalities.
If you have customers in US that does not affect taxes in any way. If you have a non US LLC as a non-US resident without US employees, comntractors etc then there is no US tax to pay in GENERAL (there are exceptions, this is not tax advice). Your US LLC as well as money you take out personally will be taxed according to the laws of your country of residence.
@@tuomaskiv thanks for answer me. So The ITIN isn't necessary in this case when I want set up tax returns ? EIN is enough because I pay taxes in my home country.
Are UAE holding companies, like free zone companies, also subject to the 9% corporate tax?
Thank you, very good info
yes, if you are above the small business threshold
@@tuomaskiv Thank you
Yes! nice links
i do have clients in the US and was wondering if i can still do this how does it work?
having clients in the US should not change anything as long as you don't have employees/big contractors sitting in US and/or you don' personally run it from there
great video Tuomas, 1 quick question, If I am a non-US resident living in Asia with US LLC working with clients in the US, will I have to pay US tax?
Generally no, ie having US clients itself will not be a reason why you would become taxable in US
Living in Germany, a very bureaucratic nation! Does it make sense to set up here, or would you suggest a US LLC?
LLC is really easy and also way less taxes than in germany
Do you recommend New Mexico over Wyoming?
Choosing between New Mexico and Wyoming for your LLC depends on your priorities. Wyoming is popular for its strong privacy protections, low annual fees, and business-friendly policies, making it ideal for most non-U.S. residents. New Mexico offers low fees and privacy as well, but doesn’t require annual reports, which can reduce ongoing costs. However, New Mexico LLCs don’t have the same level of legal protections for members as Wyoming.
If you want personalized guidance on the best state for your business, you can book a free consultation with us.
Doesn't the u.s llc have to deduct withholding taxes before sending funds to u.a.e?
No, you aren't technically "sending funds to UAE" because as a UAE resident the US LLC is also resident in UAE, from the US perspective the LLC profits are not taxed in US as they are non-US sourced and they flow automatically to the owner.
Wait, 8weeks to make EIN? So 8 weeks to make US Stripe?
Yes, currently the IRS can take up to 8 weeks to issue an EIN for non-U.S. residents when applying by mail or fax. Since Stripe requires an EIN to set up a U.S. account, this processing time may delay your ability to use Stripe.
If you need quicker access to an EIN, sometimes forming an LLC with a service provider like doola can streamline the process. For more help on setting this up, book a free consultation with us.
So I have a company that offers rental linking services worldwide. Im a non us resident living in Kenya. Will my us llc have to pay taxes
It will pay taxes in Kenya
Hey Matias,
How much can I pay myself as a salary in the UAE from my company for it be considered "reasonable" ?
As in, can I pay myself 20% of the monthly profits to myself as a salary, or 30% or even 50% etc..
💪
No one has a clear answer to that unfortunately
It's not about % of profits. Rather, you should pay yourself an amount equivalent to what someone else would pay you to work at their company or what you would pay someone else to do your job at your company.
That's about as clear as we can understand it for now haha
@@alexandrudodon1 So if your business makes $500K in profit, you should pay yourself the same amount as if your business did $5M since it's not percentage-wise?
@@HilloFX exactly, but you can also deduct other business expenses as well and whatever is left would be considered profit that you pay the 9% on.
Your salary is also considered a business expense that you can deduct, so that's why it has to be a reasonable amount that you would normally pay others.
@@alexandrudodon1 Thanks for replying, really appreacite this intel!
What about those 6/12 month profit takes the CEO gets? Is there any way I can calculate from the profits or any other indicator how much I could pay myself as a "bonus" each 6 or 12 month period?
If I use this LLC to invest in the stock market for some dividend income.
Should I pay taxes on it?
Yes, if you use your LLC to invest in the stock market and earn dividend income, it is subject to taxes. However, how you’re taxed depends on your LLC's structure (e.g., single-member LLC, multi-member LLC, or taxed as a corporation). For most LLCs, the income "passes through" to your personal tax return, so you’d report and pay taxes on the dividends as an individual.
If your LLC is taxed as a corporation, dividends may face corporate income tax, plus potential taxes if distributed to you personally. A tax professional can help you plan for this efficiently, you can book a free consultation with us if you still need help with this.
🚀 Form a US LLC with 10% discount: Use code DOOLATUOMAS10 at check out - partnersps.doola.com/pkmiw0zakyp9
🇺🇸 Mercury US bank account - get $250 FREE & expedited approval - mercury.com/r/internet-made-coder-llc
Great guide! Good work Tuomas
great
12:16 How is it the total compliance plan is $167/month for you ? It’s showing me $300/month
Have you screen recorded this page long ago ?
It's $167 a month with annual billing
@@tuomaskiv Oops yeah,2000/12,my bad