What is a Controlled Foreign Corporation?
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Are you familiar with Controlled Foreign Corporation (CFC) laws?
In most cases, they are an obstacle that stands in the way between your offshore company and legal tax reduction.
So if you think you can have an offshore company and remain living in your high-tax home country, like the US or Australia - you are wrong.
CFC rules are what governments use to prevent that from happening and the only solution is to move your private life offshore, together with your business and wealth.
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ABOUT NOMAD CAPITALIST
Andrew Henderson is the world's most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to "go where they're treated best".
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Andrew has spent the last 11 years studying and personally implementing the Nomad Capitalist lifestyle, and has started offshore companies, opened offshore bank accounts, obtained multiple second passports, and purchased real estate in a total of 20 countries.
He has also spent years creating a behavior-based system that helps people get the results they want faster and with less resistance. Andrew believes that everyone can use offshore strategies to keep more of their own money, live a life of freedom, and grow their wealth faster.
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
Пікірлер: 24
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@Baz35712
5 жыл бұрын
What's the best way to distribute dividends from your offshore corporation to personal accounts for living expenses?
@popacasian-vian6986
5 жыл бұрын
Baz you do it as capital reduction.
@popacasian-vian6986
5 жыл бұрын
I would like to know more about Jersey UK.
@BobDoe_69
5 жыл бұрын
great video, for nomads though...what do I tell my uk gov when they ask or say well where are you going now? I will be living across 6 countries per year!
“You have to not only move your assets, but you have to move your ass.” Hahaha!! I love it! Great information presented in this video, Andrew. Thank you for your content!
@nomadcapitalist
5 жыл бұрын
Thank you Kristopher! :)
Most Western European high tax countries CFC rules state that foreign corporate income are by law not needed to report as long as the income is not locally sourced. So, just put a manager on the ground in your offshore company, and don't report the corporate tax in the high tax country where you live. That is what I am doing in France.
@TEXLIFE
4 ай бұрын
Why is there a need to put a manager then?
Andrew can you do a video on PFIC for US citizens?
Thank you! 🙏
thanks mate.
This guy has all the answers. I live in Spain and I always hear about people having e-companies in Estonia. It's not legal, I know it's not legal, but I hear it all the time Here is explained best as always What I do enjoy though is that when this guy says "high tax country" and gives examples, they're far behind western continental europe.
Great stuff ! Andrew knows his onions.
great video, for nomads though...what do I tell my uk gov when they ask or say well where are you going now? i will be living across 6 countries per year!
Wondering how this works for CGT on the sale of an Australian trading business with an offshore holding company when the assets sold gained their capital value in a low/no tax jurisdiction?
This is great - exactly what I’ve been thinking about. Now, here’s the question I still have: if I’m off shore, and my business (one-woman show with some outsourced support) is off shore, but I’m American, am I still subjected to being taxed on personal income above the FEIE?
@Joel-if2bg
3 жыл бұрын
Yes. You are taxed on your worldwide personal income as a US citizen. Your company may pay a different corporate tax rate.
Hi, if a company is a ‘large company’ eg paying corporation tax in quarterly instalment payments, will the CFC charge be due in quarterly instalments or 9 months after the accounting period as normal? Thanks.
CFC rules only apply when you are receiving dividends and salary back in the country where you run your company. Income is not taxed if it stays in Hong Kong. Depending on your nationality, you'll be taxed according to your tax laws when you receive dividends or a salary from that company. Americans have it pretty bad.
Does anybody know if I set up a securities trading company (financial and commodity futures only, not for hedging) in a low tax country (eg. Bulgaria) and operate that company from several low corporate tax countries due to 3 months stay restrictions (eg. Bulgaria, Montenegro, Serbia) would that company still be called resident in Bulgaria? I would still be liable for personal income tax in my home country obviously (until can pay for permanent residency). Would it be better to do this in a country with a double taxation agreement or in one without? I'm from Australia we have very strict rules but it seems like this may be possible. I just don't see how a company operated entirely overseas can be liable for Australian corporate taxes.
Great information as always Andrew. Regarding CFC rules. If you live in UK and have an automated internet company selling digital products that is incorporated, lets say in Hong Kong as per your example. Would you fall foul of CFC rules if none of the sales are UK based?
@chanhyun4412
4 жыл бұрын
@@ILZ677 CFC rules only apply when you are receiving dividends and salary back in the country where you run your company. Income is not taxed if it stays in Hong Kong. Depending on your nationality, you'll be taxed according to your tax laws when you receive dividends or a salary from that company.
How may I hire you?