OK first it was the Taiwan Tax office who basically told me as a service provider ( don’t export any physical product ) as my clients are offshore to setup a branch office of my Taiwan company in HK and have clients pay into HK. You know in this country the tax office does things to help you do legal things.
So I stream content to clients, some of my clients have their own equipment hosted at my location. They pay into my Taiwan business account. After all I need to pay business costs salary etc can’t just have deductions with no income lol.
Other clients I stream content to buy services from my company in Taiwan they do not have any equipment hosted here as I have my own servers. They pay to HK branch. This was setup a long time ago and required a couple of trips to HK using an accountant there to setup. Anyway if people want to know how to earn some income abroad and legally pay less taxes it is possible with the correct business and setup. Just visit the tax office.
I own a company, I don’t get a salary. My wife does as an employee. I’m a wee pauper living in the wilderness.
I’ve not paid any offshore fees since setup. Have a local accountant in Taiwan but she charges us a set fee as not much work to do. Anyway nothing wrong with having the tax office in Taiwan help you on taxes.
A reportable transaction is anything in part 4 between the DE LLC and a related party (you or any companies you own. Your wife and mom are also related parties). So it’s only blank if you didn’t pay yourself anything (salary, dividends, commissions etc). Dividends have 30% withholding.
Delaware treats a single-member “disregarded entity” as a sole proprietorship for tax purposes. This means that the LLC itself does not pay taxes and does not have to file a return with the State of Delaware.
Furthermore the remaining taxes are counted as “personal” meaning that the owner files a personal tax return.
Delaware treats a single-member “disregarded entity” as a sole proprietorship for tax purposes. This means that the LLC itself does not pay taxes and does not have to file a return with the State of Delaware.
Furthermore the remaining taxes are counted as “personal” meaning that the owner files a personal tax return.
You definitely need to file federal tax return for foreign single member owned LLC/disregarded entity. It’s everywhere on google and I’ve asked an accountant. There’s an automatic $25k USD penalty if you didn’t file or extend 5472 by April 17 of this year.
LLC is pass through so if taiwan tax bureau found out they’d tax it even if money wasn’t withdrawn from LLC
I’m going to have to talk to you about that sometime. My girlfriends business has exploded just recently… and we need a solution for her as she is a filipino citizen. We are thinking Hong Kong is a good option.
We were thinking the delaware solution but the Philippines will see it as her income… and when she moves back to Taiwan it will be the same
Well as someone explained a lot has changed since I setup in HK. Could she setup with HSBC in Manila? Or someone said HSBC Expat. I would email HSBC HK and ask them about what you want to do see if they reply.
