The way I understand these schemes is that they require minimum balance way above what an average person has to be effective, but not sure. Would love a professional tax engineer/CPA opinion.
There was a documentary on Dutch TV a couple of years ago, about 'DYI tax haven management' for common people. Can't remember which public channel it was on, and what the name was. Might have been part of "Tegenlicht" series.
Update: Maybe it was the program Rambam where the makers set up their own tax haven based on the methods of the big corporations. Information in Dutch:
No. Anyone can register a LLC in any of these places. They have minimal filing requirements going forward too.
You may be required to have a local agent, and they will add their address and names as the nominee shareholders so you remain anonymous. Then with an LLC, the company can open bank accounts and you can move money. Any money made offshore is non-taxed locally.
There are 2 major reasons why people choose to use layers of corporations in other countries: tax minimization (in their domestic country) and obscurity of the assets-owners relationship.
The latter is used by corrupt politicians, oligarchs (extremely wealthy people who have massive influence on policy/politics), and to stifle investigations by civil investigations (divorce), to stifle criminal investigations (political corruption, sanctions avoidance, fences for thieves, a convenient vehicle for transactions or large assets so governments/ oversight can’t easily track them).
There is a minimum overhead required (you need at least a part time CPA and attorney to give you the strategy, more if they actually implement it), but I don’t think it requires you be ultra wealthy. The problem is that most law-abiding, non-sociopath people don’t benefit much from avoiding the law.
rapnie|7 months ago
Update: Maybe it was the program Rambam where the makers set up their own tax haven based on the methods of the big corporations. Information in Dutch:
https://pers.bnnvara.nl/rambam-ontduikt-belasting-met-medewe...
snickerdoodle12|7 months ago
Bluestein|7 months ago
Consistently the best thing on TV.-
khurs|7 months ago
You may be required to have a local agent, and they will add their address and names as the nominee shareholders so you remain anonymous. Then with an LLC, the company can open bank accounts and you can move money. Any money made offshore is non-taxed locally.
No different to Delaware.
unknown|7 months ago
[deleted]
thephyber|7 months ago
The latter is used by corrupt politicians, oligarchs (extremely wealthy people who have massive influence on policy/politics), and to stifle investigations by civil investigations (divorce), to stifle criminal investigations (political corruption, sanctions avoidance, fences for thieves, a convenient vehicle for transactions or large assets so governments/ oversight can’t easily track them).
There is a minimum overhead required (you need at least a part time CPA and attorney to give you the strategy, more if they actually implement it), but I don’t think it requires you be ultra wealthy. The problem is that most law-abiding, non-sociopath people don’t benefit much from avoiding the law.