/biz/ - Business & Finance

Nice pic. Wish I lived there. Trading shitcoins with that nice view

>>13992202
DO IT IN DUBAI YOU STUPID IDIOT AND STOP SPAMMING YOUR SHIT ALL OVER
IN DUBAI YOU HAVE EVERYTHING AT THE SAME PLACE, GREAT AIRPORT, GREAT CONNECTIONS, 0 TAX INCOME, TRADE FREE ZONE

GO AND SUCK MY DICK

ALSO, YOUR MONEY WILL BE TAXED ONCE YOU TRANSFER IT TO YOUR US BANK YOU RETARD

>>13992226
>YOUR MONEY WILL BE TAXED ONCE YOU TRANSFER IT TO YOUR US BANK YOU RETARD

First of all I'm not an amerimutt, and second of all loans aren't taxed.

>>13992282
>tax on loans
LOAN FORGIVENESS IS TAXABLE

WHY DO YOU WANT TO MAKE IT SO FUCKING DIFFICULT WHEN ITS SO EASY?

>>13992672
The LLC won't forgive the loan though. The repayment duration would be set to 99 years, and would be long dead before the loan contract ends.

>>13992202
> OP succesfully dodges taxes on one crypto gain
> OP succesfully dodges taxes on a second crypto gain
> This time the IRS has been notified a former NEET is now receiving large payments from Seychelles, recommend no action but monitoring the accounts
> Anon succesfully dodges taxes again
> IRS onto the scheme
> OP gets cocky because his genius scheme is working out and transfers larger amount
> OP wakes up, finds his account frozen, and a nice team of IRS investigators with felony charges of running a criminal enterprise who's purpose was to launder money
It'll work out great once or twice.

>>13992226
Yeah but then you have to live around sandniggers. Also alcohol consumption is punishable by death and there are no hot thots to look at because they’re all forced to wear burkas.

>>13992226
Dubai isn't white.

>>13992780
YOU CAN BE WHEREVER YOU WANT. OFFICIALLY YOU HAVE TO BE REGISTERED THERE. I'M DOING THAT SHIT SINCE 6 YEARS.

COMPLETELY LEGAL AND NO STRESS WITH ANYTHING

3 MONTHS THAILAND, 3 MONTHS PHILIPPINES, 6 MONTHS DUBAI. I ALSO DIDNT VISIT DUBAI FOR OVER A YEAR, NOBODY FUCKING CARES

>>13992814
you sure youre not stressed out?

>>13992202
>Imagine being so greedy that you can't just pay 18% capital gains tax on several million dollar gains.
If you're able to get to this point where you have more money than over 99% of people and totally fuck it up just to save a few hundred grand, then you deserve to go to jail.

>>13992814
Can you fucking stop yelling holy shit

>>13993221
NO

>Setting up an LLC that doesn't pass the alter-ego test
>FATCA shit
>Finding a lawyer in the Seychelles who is going to agree to be the director of your company
>Profiting from speculation
>Issuing fraudulant loans with such a thin financial veneer

I understand a janitor fantasizing about robbing up a bank. I understand a high schoolers fantasizing about shooting the bullies and blowing up the school. You should leave your fantasy a fantasy OP.

>>13992780
Dubai is 100% thots. There's a special enclave for unbelievers.

>>13992202
holy shit. this is a really good idea OP. I cant think of a reason why this would not work.

Not sure seychelles recognizes LLCs. The LLC is mostly an american thing. You could do it with a standard corporation though.

>>13992763
As far as I can tell this is perfectly legal though.

>>13993298
When has "legality" stopped the state?

>>13992202
where's the hidden cost? why isn't every pleb doing this already?

>>13993318
since always?

I forget the name of it, but really rich tax dodgers have to get a professional accounting firm to sign a statement of lawful conduct or whatever its called. They formally agree that your actions have not broken the law and if audited they will defend you in court no matter the cost. These documents are expensive, like 2 mil per tax year. The IRS auditors see that paper in your tax return and fuck right off. They are explicitly told not to get bogged down in expensive and lengthy court proceedings. And if you have one of these letters then you are pretty much guaranteed to have obeyed the law anyway.

>>13993326
They sort of are doing this. Zuckerberg took out a massive loan using his Facebook stock as collateral instead of just selling the stock outright. This is a known trick for rich folk.

>the Seychelles LLC deposits the $X.000 from the Cayman Islands bank account to your private account in your home country
This is the part that may fail. They will start tracking you after a few thousand, and AML will want some good explanations after one year. And crypto origins will be a red flag for them.

>>13992202
>make $X.000 profit from crypto trading
no guarantee this works

i would assume your company off-shore that officially gets those gains would have to tax them in their location ? is this correct or is the location tax exempt on gains of this sort

>>13993411
Checked - you'd obviously choose a country that had minimal Crypto or Cap Gain Tax,But as >>13993388
alludes - you've got to make the money first and then there is this
>>13993374
I personally use a Maltese shelf company and repatriate money to a holding company in Guernsey where I have some idea of the Sovereign risk. I'm Australian BTW. I don't send money back to an Au account at any stage.

any books sources or forums to do more research? asking for a friend

>>13993374
>They will start tracking you after a few thousand, and AML will want some good explanations after one year.

>Tax authorities:"So Mr anon, where does all this money come from?"
>You:"From this company in Seychelles(that you own), the money is from a loan I got from it, here is a copy of that loan contract"

The loan contract proves that the money is perfectly clean.

>>13992226
Dubai is a dirty, bloody hot and humid pajeet shithole
But you can always be tax resident there and live somewhere else and stamp your passport from time to time

>>13993411
>i would assume your company off-shore that officially gets those gains would have to tax them in their location ?

IF and that's a big IF the Seychellois authorities get suspicious of the origins of your funds, you just give them a copy of your coinbase transactions/cashouts and prove to them that the money is from trading and perfectly clean and legal. Since there are no capital gains taxes in Seychelles, they will not tax any of $X0,000 of profit you make.

>>13993166
>muh fucking greedy people

>>13993166
are you living in the 90s? can you take us back??? for most anons this isn't about greed, but rather funding genocidal antiwhite policies from their own govt. it's pretty obvious everyone would wagecuck if the sole goal was making money

>>13994216
Dubai is cleaner than any of your imaginary first world.

>>13994201
the problem with the loan is that you will usually have to get it with competitive rates. like they won't believe this is legit if 0% interest

>>13994321
>gonna fuck up being able to fund pro-white policies to the tune of millions because you didn't want to pay in a couple Gs to get your dosh into the system

Exact same principle.

>>13994372
Again, read my previous replies. The interest rate could be set to 10% or even 100% it doesn't really matter though since your giving yourself a loan. No one will force you to pay anything back. Your Seychelles LLC(you) 'loans' the money to you(as a person).

>>13992202
Might be a stupid question, but can you use your LLC credit card for expenses like restaurants/travels as in business expenses?

>>13992202
Isn't it easier to get a creditcard issued from that bank or a debit card for that matter instead of transfering the funds? Transfering the funds leaves a trail for the taxman. I'm pretty sure this would be considered tax-evasion.

>>13994400
are you sure the taxman hasn't prepared for this loophole?

>>13994433
yeah this. Seems like a more efficient way and because the money never leaves the account its much harder for you to ever get caught.

>>13994433
>>13994449

Someone correct me please but I don't think these off shore banks give out cards. I think they only offer online banking accounts for your off shore companies. Also regarding the credit card, what's they point of this scheme if you end up paying 15% interest rate on your gains? Then you might as well declare them to your local authorities and pay capital gains.

>Transfering the funds leaves a trail for the taxman

The taxman would only know where the money comes from. The shareholders of a Seychelles LLC are no public record, so your taxman would never know who is behind the LLC.

>>13994486
The taxman would then ask where all money comes from to sustain your living. If you get cash through the debit card it would be harder to prove to your taxman that the funds are clean.

>>13994517
What 15%? Call it a debit card if you will, basically a card linked the bank account.

>>13994517
THE PROBLEM IS YOU'RE STUPID

DO WHAT I TOLD YOU IF YOU'RE EVEN REMOTELY SUCESSFUL AND STOP THINKING ABOUT OTHERS WAY. SOONER OR LATER IT WILL GET YOU LOCKED UP.

YES, YOU HAVE TO MOVE AWAY, NO YOU CAN'T STAY AT THE SAME PLACE AVOIDING TAXES FOR YOUR PURPOSE.

I PAYED 10S OF THOUSANDS FOR HELP, SEVERAL YEARS, ONLY THING THAT HELPED WAS MOVING FUCKING AWAY TO A 0 INCOME TAX COUNTRY.

>>13994564
Again, if you take cash from ATM through the debit card, how do you explain to the taxman where the money comes from??

>>13994578
Lmao just fuck off man, you sound like some butthurt IRS agent

>>13994517
I thought you said you were paying 0%? I don't know much about this stuff.
>>13994517
But why would you need to prove anything? Why not just register as a tax citizen in Dubai instead?

>>13992282
>I'm not an amerimutt
As other Anons have asked, why bother? Just leave your country & move to a country without CFC regulations!
Its only Burgers that have to do shit like that as they aren't free!

Is all this to avoid taxes?

Seems like too much trouble... If bitcoin goes to $400k or even $1mm, Is rather just pay taxes when I cash out.

That'll be more money than I'll know what to do with anyway.

>>13994595
ENJOY PRISON THEN WHERE YOU KEEP DREAMING ABOUT BEING SUCCESSFUL TRADING

SUBINTELLIGENT HUMAN

>>13994595
Nah he could be right man. You need to be registered as an individual under a 0 income tax country. What you're doing is obvious tax-evasion and as long as you're on your home country's soil they can do whatever to prosecute you for that. I mean, it's not like it's not super obvious what you're doing.

>>13994617
There is nothing illegal in that scheme. How do I evade taxes if LOANS ARE NOT TAXABLE??

>register in 0 income tax country

Which point of LOANS ARE NOT INCOME didn’t you brainlets get??

>>13994618
Ok man I will enjoy prison. Now fuck off this thread.

>>13994649
Anyone looking at this knows the motivation and that is tax evasion. I don't know. I'm not an expert but I'd double check everything first before you do this.

>>13994662
TRY TO EARN A MILLION FIRST OF ALL YOU DELUSIONAL KID

>>13994662
Do you know about CFC regulations?
Controlled
Foreign
Corporations?

Its sounds like you do...Why don't you go about it legally? Why do you want to stay in your nation?
Sounds like a dumb idea, with CRS & other legislation its only a matter of time before someone cons on to your con!

>>13992226
Dubai is a dust spot in the desert why would anyone want to live there.

>>13994662
Cayman Islands have a 0% tax on crypto?
The majority of the rich don’t pay a dime on taxes. It really only exists to fuck up the middle class.

>>13994762
YOU ONLY NEED TO BE REGISTERED THERE AS A RESIDENT

I MOVE AROUND THE WORLD WHENEVER I WANT WITH GREAT WORLDWIDE CONNECTIONS FROM DUBAI INSTEAD OF HAVING TO BOARD 5 DIFFERENT FLIGHTS

>>13994755
CFC regulations would only apply if the money you got from you Seychelles LLC was income. AGAIN, the money you would receive from your Seychelles LLC would be classed as a LOAN.

>>13994800
of course...but why complicate it up! I have read your loan thing, I perosnlly think you are playin with fire! Govs are talkin to each other...bankin is a HUGH part of that. Its only a matter of time before someone figures this out!

The way to get away with tax is to leave your country & become a resident in one without CFC regulation...why make it difficult. Why do you NEED to say where you are?

>>13994789
Take your fucking schcizo meds already before you get an aneurysm. Not all of us are fucking losers like you that leave their home, family, friends, gfs etc to go to some Islamic shithole to not pay income tax. I bet you don’t even have friends or family you loser.

>>13994842
AS I TOLD YOU, EARN FIRST OF ALL YOUR FIRST MILLION FAGGOT

>NOT MOVING AWAY BECAUSE OF FAMILY

WHAT A KEK YOU ARE, HAS MOMMY TO COOK FOR YOU FAGGOT?

>>13994842
Figure this shit out for yourself! That Anon is SPOT on! you are delusional!

>>13994854
So where do you sleep? In Dubai? You make it sound like you're only registered there and live somewhere else?

>>13994854
>EARN FIRST OF ALL YOUR FIRST MILLION FAGGOT

So I suppose you are already a millionaire because you know what your talking about? So you are a millionaire that spends your free time shitposting on a Pakistani knife collecting forum? Dude, you are clearly fucked in the head. Just take your schizo meds and fuck off already. You aren’t contributing to this discussion.

>>13994942
IF YOU ONLY KNEW HOW FUCKED UP SOME PEOPLE ARE

>>13994933
OBVIOUSLY YOU BUY PROPERTIES AROUND THE WORLD, INCLUDING DUBAI

>>13994400
>>13994471

There is a risk the taxman would ask for proof of interest payments.

>>13994517
>The shareholders of a Seychelles LLC are no public record, so your taxman would never know who is behind the LLC.

This is not entirely true, offshore banks will likely ask for details concerning the beneficial owner (i.e. you).

>>13994649
>>13994675

This is tax evasion and in many countries the scheme can be voided in court (and all "avoided" tax be made due) if the taxman claims that you are doing it to avoid paying your "fair share" (whatever that means). This is a blantant violation of the principle of legality but since tax evasion is effectively screwing the state, legal principles no longer apply. I know for a fact that this is the case in my country, Sweden, and likely the case in many other EU and OECD countries. UK might be a good candidate for tax evasion after Brexit, though.

>>13995069
UK still is quite a tax haven until a certain amount.
250k or something if i remember correctly

>>13995069
>>13995088
however quite some paperwork and shit to be considered... not worth the time, at least for me

>>13995088
pls elaborate

>>13995069
Even if it’s blantant tax evasion and even if the judge is 100% convinced that you are evading taxes, it’s still not illegal. Judges can’t just bend the law as they want to even if the state is getting fucked. The government hasn’t closed this loophole because most rich and powerful people are already using them. Heck even politicians and probably even judges use these schemes.

>>13995149
avoidance*

>>13995149
>Judges can’t just bend the law as they want to even if the state is getting fucked.

I know it sounds retarded but they can and will. This is the case in Sweden (I know some lawyers who have some personal experience with this).

It's fucked up but don't blame the judges, blame the retarded parasitical politicians in the legislature who pass laws like this.

>>13994578
>Paid tens of thousands of dollars for help
>Had to move to another country
Isn't it cheaper and more convenient to just pay the fucking taxes?

>>13995149
>>13995174

cont.

https://www.riksdagen.se/sv/dokument-lagar/dokument/svensk-forfattningssamling/lag-1995575-mot-skatteflykt_sfs-1995-575

This is the law in question. Use Google Translate or something to translate it.

>>13995123
non-dom taxes

>>13995174
The Judges won’t risk it though. IF they convicted you for tax avoidance with this scheme, they would make a precedent case and soon all rich people and large companies like Google and Facebook would also get sued.

>>13992202
You will get fucked by transfer pricing though. Your 0% interest will be recalculated with market rate interest. Good luck with that.

>>13995207
IRS target rate is 2%. And for the 10th fucking time, the interest rate is irrelevant since you aren’t really going to pay back the loan.

>>13995205
Can't they just fuck you over? The big dogs will go to appeal it in a higher court. The higher court will rule in favor of the corporations like FB but anyone who doesn't have sufficient capital is automatically barred from such proceedings.

>>13995178
definitely not over a longer period.

also, if you still don't understand that your "1st world" is going down i can't help you.

meanwhile dubai only imports skilled workers or business people while also donating every religion buildings and land

yes, dubai has strict rules, if you're not some lgbt commie that only provokes and can behave like an adult you will have the best time with a well established upper-class economy while in your first world you're fighting to get through as lower-class

>>13995207
Its a fictious loan. It only exists on paper. Did you even read what he wrote?

>>13995233
>yes, dubai has strict rules, if you're not some lgbt commie that only provokes and can behave like an adult you will have the best time with a well established upper-class economy while in your first world you're fighting to get through as lower-class

LMAO if you think Dubai is any upper-class environment, let alone classy.

The only people who legitimately enjoy Dubai are nouveau rich Arab sandniggers who pretend to be wealthy and have an enormous napoleon complex.

>>13995227
Law doesn’t work like that. The law is applied EQUALLY to all legal identities. It doesn’t matter if you are a small trader or giant corporation making billions in revenue. The same law applies to EVERYONE. Unless of course you live in some oligarchic shithole whos judiciary system is bought out from mega corps.

>>13995274
>Law doesn’t work like that. The law is applied EQUALLY to all legal identities. It doesn’t matter if you are a small trader or giant corporation making billions in revenue. The same law applies to EVERYONE. Unless of course you live in some oligarchic shithole whos judiciary system is bought out from mega corps.

This is NOT the case in Sweden. I'm seriously not joking and trolling. I'm aware how retarded it sounds, but there IS a law in Sweden that gives the prosecution the authority to void tax evasion schemes and there ARE people that have been burned by this.

This is exactly why many Swedes including myself left our country because that place is turning into a socialist shithole.

https://www.ato.gov.au/Business/Private-company-benefits---Division-7A-dividends/In-detail/Division-7A---Loans/
sorry ausbrahs
we got cucked again

>>13995274
>>13995291

For 99% of all laws, the law is applied equally but NOT in the case of tax evasion.

>>13994393
just because you're too stupid to dodge taxes legally doesn't mean we all are

>>13995300

>>13995274
Yeah right. I don't believe it. They can claim that, but that doesn't make it true.

>>13995252
I have statistics, what do you have?

https://gulfnews.com/business/personal-finance/2000-millionaires-move-to-dubai-rest-of-uae-in-one-year-says-new-2019-wealth-report-1.1555566818924

>The report also noted that among the cities worldwide, Dubai is one of the top destinations attracting very large millionaire inflows, reaching more than 1,000 in the past year.

>>13995300
>>13995327

This would only apply given the fact that the aussie tax authority KNOWS that you are a shareholder of the Seychelles LLC.

>>13995348
how do you hide it though?

>>13995220
I dont know whether you understand taxation/accounting or not.

So lets say XYZ, LLC in Cayman gave you 1 million loan with 0% interest rate to you as shareholder. Now your country will most likely have some tax article for foreign interest payment and dividend, your tax authority will see your tax return and see you have 1 million in outstanding loan without any interest payment, so there are 2 most likely things that will happen:

1. Your tax authority will impose a tax as if you are paying an interest to the lender (it doesnt matter whether you actually pay it in reality or not) with regular market interest rate. This is common anti transfer pricing mechanism/profit shifting.

2. Your tax authority will regard that 0% interest loan as deemed dividend and apply the corresponding tax rate. (20% in my country for foreign dividend).

Pick your poison I guess.

>>13995274
>https://en.wikipedia.org/wiki/First_National_Bank_of_Montgomery_v._Daly
Plenty of money has been poured to hide this judicial case from public and private eyes. Most things in the legal world are covered up. You can say that fancy pantsy equality crap but don't think that that's where it ends. So no I don't believe that shit and if you do beleive that shit. Then you're way to gullible to be trying tax evasion. You have no fucking idea how dirty it gets in this world. So THINK.

>>13995347
>I have statistics, what do you have?

There is a difference between being rich and being upper-class, you know.

>>13995358
Nigga did you even read my previous reply? You don’t have to put 0% interest rate in the loan contract. You just put a normal rate like 10%, and they won’t tax the interest rate.

>>13995347
the article you linked literally doesn't say anything different than what anon said
you're not going to convince anyone by yelling and spamming. mate, you sound miserable and desperate, and that's not how people want to end up when they think about "making it"
sure it's a staple thing on /biz/ to talk about traveling to thailand and fucking asian prostitutes... much like normies talk about making a rock band. it's a daydream we like to contemplate for a moment, not a lifestyle we want to adopt
what most anons likely truly want here boils down to finding a good wife, having kids, and settling in a nice white community, where they can contribute and give back, without ever worrying about making money to live
being on the move forever appeals to very few people

>>13995356
You don’t have to. The shareholders of Seychelles LLC are by default secret and not public published in a registry.

>>13995374
>muh muh can't provide anything because dumb while paying 40% taxes on my income while getting robbed by some refugee that is gonna pay my pension

>>13995390
You have to if your country doesnt have DTT with the corresponding country retard. Tax avoidance like this cant be done simply with only one foreign entity, you have to shop for treaty and setup multiple foreign entity eg double irish/dutch sandwich scheme etc. You are retard to think you can easily fool IRS or whatever tax authority you have.

>>13992226
Lol Dubai is fucking disgusting

Couldn't imagine anywhere worse to live

>>13995396
san francisco

>>13995371
This case is completely irrelevant to our discussion and has literally nothing to do with taxation law.

>>13995414
>muh double Irish/Dutch sandwich

Do you just spew this meme phrase that you read in a news site in order to convince us that you know what you are talking about? The Irish/Dutch scheme is completely different from the one I am suggesting, and it only works for companies and not individuals.

>>13995405

Can't believe you are this retarded. You think the only low-tax jurisidiction is some arabic shithole that is Dubai?

Monaco and Singapore are worthy alternatives and even if you paid maybe 5% more in tax that's a healthy premium to pay to keep distance from all of the retarded nouveau riche sandniggers like yourself.

>>13995443
But it has everything to do with your view about the legal system where ''everyone is equal under the law''. Equality doesn't exist. It's a fairy tale.

>>13995443
You are the one who are spewing meme. Interest and dividend are subject to tax in most countries. How bad are you at comprehending this little concept?

Oh, great I just dont have to pay the interest then, yeah your tax authority will fuck you up and regard that fucking loan as dividend then.

>>13995444
Singapore is not 0 tax you retard, i named all 0 tax... there's others for foreign income by having your company in a different country.

>>13995233
>Your 1st world is going down
Sure, just look at the US economy and compare it with the rest of the world. People vote with their feet

>>13995513
>Interest and dividend are subject to tax in most countries.

Yea, if YOU are the one earning the interest rate. And again, the loan would be like going to your local bank and taking a loan of $X,000 with an interest rate of X%. Do you think that you have to pay taxes on the X% interest rate from the loan you took from the bank? No, the bank does pay taxes on the interest.

>>13993166
>Giving away hundreds of thousands to niggers and spics
Yeah, let's do that...

>>13995525
And for all the money in the world, you will simply be yet another trashy retard in the gulf states.

That's gotta suck

>>13995624
This.

>yea man go become a Dubai resident with 0 income tax oh and just ignore the living costs mate

>>13995652
the thread started because kid was fantasizing about trading profits... obviously you have to make more than 1 million per year, otherwise you're stupid... but /biz/ is full of poorfags

>>13992202
Does not work

>>13992226
>>13994578
This guy is the only one here who knows anything.

Living in a tax free country for good is the only way you can avoid taxes. As for the Dubai company that alone costs a lot, so really not worth it unless you have millions AND want to live in random countries

>>13995205
outside of the anglosphere and some other cases the judicial system is not bound to precedent.
precedent is considered at best only a convenient guideline most everywhere else, or distant but ephemeral possibility as a rule.