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Is this the kind of thing which has tax consequences? Interesting thought experiment for a US expat setting up a local corporation: at what step in the process
by uiri 8y ago
Is this the kind of thing which has tax consequences?
Interesting thought experiment for a US expat setting up a local corporation: at what step in the process does FATCA actually come into play?
- kgwgk 8y agoIt’s the kind of thing that has to be done in the first board meeting. Otherwise the company would be operating outside the law.
- gammateam 8y agoFATCA comes into play when you have a bank account and primarily when it has over $10,000 in it If you dont have a BANK ACCOUNT and with national currency or securities in it, then there is no FATCA Hm if that wasnt clear, stablecoins/crypto are exempt. Several stablecoins are FDIC insured according to the issuer. Form a US company just to access the international banking system and put a title on rent and pay for a github account. Let your international company just use crypto.
- raverbashing 8y ago(a Foreign bank account, one might add)
- uiri 8y agoI really hope you haven't been neglecting to fill out form 5471 and form 8938 based on a misunderstanding of reporting requirements. FBAR requirements are separate and distinct from FATCA.
- gammateam 8y agoDoesnt matter if you dont use banks