Nice video thanks. Keep in mind that with a USA based company you will need to be USA export compliant which means respecting all USA sanctions against many countries and companies / people that operate in those countries (e.g., China, Russia, Cuba, Iran, etc...) en.wikipedia.org/wiki/United_States_sanctions
I have a Certificate of Organization for my LLC, which was created on 05/30/2024. However, I do not have an EIN, ITIN, or bank account, and I am a foreigner. Is it necessary to close my business, or can I leave it as it is? Are there any tax liabilities or BOI reports that I need to be aware of?
@@lovalona7389Most businesses are selling to US consumers so most businesses have to pay US tax, it’s better NEVER get US involved because big brother always try to find ways to tax you! Go ask openAI FOR best advice! He’s selling digitally products without have to hire US workers ship to US customers, that’s why his bs title said pay 0% tax while 99% other businesses are not selling digital products! Bs I did extensive R&D😊😅
US IRS are very bossy they want to make worldwide minimum tax rate and force other countries must obey their laws and how to run their businesses, that’s why the world hate them dictator very bossy against others, you need to renounce your US resident to avoid their dictator power rule your life no freedom! 😊
Great video. You mentioned my country?😅 I will be registering a US LLC, too many restriction and limitations operating anything from here. Thanks again for the great video.
Thanks for the clear explanation. How do you account for the income flowing from USA to UAE on the UAE end? Does your UAE company invoice the US LLC? Or is it personal offshore income?
Do you know if having one employee who is American citizen but resides abroad would qualify the LLC (w non-resident owner) as having a presence in U.S.?
Thanks for the video sir. Question: How you receive your youtube adsense income in the UAE? because the UAE don't have a tax threaty with the USA. Or can you use the LLC's information in your adsense and get away without the 30% tax withholding.
SO if i open and LLC via help (Bizee + register agent who i am also going to hire ) to do Amazon Wholesaling , because i am Non-US person (Im located in the caribbean) i wont be taxed by US ? Also i would only be taxed by my country that i live in?
Very useful video, thank you! I am a South African resident planning on using Bizee to register an LLC in Wyoming. I have a US bank account but need a business registered in the US in order to use Stripe. None of my operations will take place within the US. I will use Quaderno to take care of my international VAT, GST and other sales taxes. I know from this video that I will not have to pay US federal income tax, just local tax. Bizee will inform me of any business filings and fees payable to Wyoming. The only piece of info I'm missing is what personal income tax forms I'll have to file with the IRS and how often, even if I have zero US tax dollars to pay in the US. Is there a service that can assist with this? It's mind-boggling looking at the IRS website...I think it's form 1040-NR but that's all I can make out. Another question - I'm setting up the LLC using a registered agent where documents can be sent, but no operations will take place within the US. Does a registered agent count as having an agent in the US for operations purposes?
Hi there, I am also from South africa and I want to open an llc in US, do you need a address in US to do this? I want to open one but I don't have an address to put as my registered agent or an social security number from us
@@subthewaysurfz You don't - you can use the registered agent's address. Take a look at Northwest Agent. There is also an application process for foreigners without social security numbers - although they say it takes 3 months. Bizee is another one, although they seem to force you to sign up for their virtual address service, which you don't need in order to register.
Im based in the UK, my business partner in the USA, how can this video help me? Is the fact there is a member in the USA enough to trigger all US taxes on my side as well?
Why did you use your Dubai company as the LLC owner and not yourself? Wouldn't you have saved on taxes if you had it in your own name, since Dubai has 0% income tax?
As a UAE resident I have 0% personal income tax. You pay the income tax rate of your country of residence when paying a salary to yourself, or the dividend rate if paying to yourself as a dividend. What makes most sense for you depends on your exact situation.
Great and very informative video .. I’m a UAE resident and I’m in a process of opening a US LLC … but I’m not sure why you are using your UAE company to pay yourself salary and not doing it directly from your US LLC.
You need an US LLC to set up an e-commerce business like Amazon FBA or TikTok Shop in the US, and you do also need an UAE company to pay yourself a salary in order to maintain your residency status in Dubai.
Great Video! I already set up a UAE Company now I’m searching for a better solution because of stripe offers only Credit Cards in the UAE Business Location. Do you know how long it takes to set up the US LLC ?
This video is so helpful but I just have a quick question about what will happen if I open a bank account in US ?Does that change anything regarding tax?
@@tuomaskiv Please could you assist me regarding this matter Please see below answers: Do you own the company? Yes How do you generate revenue? Marketing services Is there someone managing the business locally, or do you oversee it online? Online What type of business do you operate? Could you describe its nature? It's a marketing company Is your business registered in the USA or South Africa, given that you are a South African citizen? USA - I have a USA tax number If you could provide a brief overview of how you manage your business, it would greatly aid my research. I manage it from here, I have a USA bank account, tax number and company number. *My worry is about paying tax there and when transferring money to SA, having issues with tax here* Thank you in advance
If you are a South African citizen providing freelance marketing services to a client in the U.S. while living and working in South Africa, and your business is registered in the U.S. with a U.S. tax number (such as an EIN) how this works in terms of tax
Hey Tuomas , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?
So now with the 9%, does your UAE company have to pay for the US company profit?
Depends, watch my guide to the UAE corporate tax or book a meeting with us
Nice video thanks. Keep in mind that with a USA based company you will need to be USA export compliant which means respecting all USA sanctions against many countries and companies / people that operate in those countries (e.g., China, Russia, Cuba, Iran, etc...)
en.wikipedia.org/wiki/United_States_sanctions
I have a Certificate of Organization for my LLC, which was created on 05/30/2024. However, I do not have an EIN, ITIN, or bank account, and I am a foreigner. Is it necessary to close my business, or can I leave it as it is? Are there any tax liabilities or BOI reports that I need to be aware of?
Very well explained, it is important to do things right :) Great explanation!! Editing was awesome btw
Thanks so much!
Your tax obligations as a foreign individual are as follows:
Federal Corporate Tax
State Corporate Tax
Sales Tax
@@lovalona7389Most businesses are selling to US consumers so most businesses have to pay US tax, it’s better NEVER get US involved because big brother always try to find ways to tax you! Go ask openAI FOR best advice! He’s selling digitally products without have to hire US workers ship to US customers, that’s why his bs title said pay 0% tax while 99% other businesses are not selling digital products! Bs I did extensive R&D😊😅
US IRS are very bossy they want to make worldwide minimum tax rate and force other countries must obey their laws and how to run their businesses, that’s why the world hate them dictator very bossy against others, you need to renounce your US resident to avoid their dictator power rule your life no freedom! 😊
Most banks don’t like to deal with US money open account there for complicated reporting IRS regulations! 😢 Don’t get US involved😊
3:35 How are the profits automatically payed out? doesnt each member choose how much they want to draw out whenever from the business bank account?
Very informative!
Your tax obligations as a foreign individual are as follows:
Federal Corporate Tax
State Corporate Tax
Sales Tax
Great video. You mentioned my country?😅 I will be registering a US LLC, too many restriction and limitations operating anything from here. Thanks again for the great video.
Thanks for the clear explanation. How do you account for the income flowing from USA to UAE on the UAE end? Does your UAE company invoice the US LLC? Or is it personal offshore income?
Good question, on the UAE corp accounts they are dividends/profit distributions from a subsidiary
@@tuomaskiv so does that mean the LLC is owned by your UAE company, not you?
yes
Do you know if having one employee who is American citizen but resides abroad would qualify the LLC (w non-resident owner) as having a presence in U.S.?
Thanks for the video sir. Question: How you receive your youtube adsense income in the UAE? because the UAE don't have a tax threaty with the USA. Or can you use the LLC's information in your adsense and get away without the 30% tax withholding.
You have to pay the 30% withholding tax on all US viewer earnings, using US LLC will not get you around that if YOU are UAE resident
SO if i open and LLC via help (Bizee + register agent who i am also going to hire ) to do Amazon Wholesaling , because i am Non-US person (Im located in the caribbean) i wont be taxed by US ? Also i would only be taxed by my country that i live in?
yes, probably, there are nuances to keep in mind
@@tuomaskiv what’s are some of the nuance to keep in mind?
Very useful video, thank you! I am a South African resident planning on using Bizee to register an LLC in Wyoming. I have a US bank account but need a business registered in the US in order to use Stripe. None of my operations will take place within the US. I will use Quaderno to take care of my international VAT, GST and other sales taxes.
I know from this video that I will not have to pay US federal income tax, just local tax. Bizee will inform me of any business filings and fees payable to Wyoming. The only piece of info I'm missing is what personal income tax forms I'll have to file with the IRS and how often, even if I have zero US tax dollars to pay in the US. Is there a service that can assist with this? It's mind-boggling looking at the IRS website...I think it's form 1040-NR but that's all I can make out.
Another question - I'm setting up the LLC using a registered agent where documents can be sent, but no operations will take place within the US. Does a registered agent count as having an agent in the US for operations purposes?
Hi there, I am also from South africa and I want to open an llc in US, do you need a address in US to do this? I want to open one but I don't have an address to put as my registered agent or an social security number from us
@@subthewaysurfz You don't - you can use the registered agent's address. Take a look at Northwest Agent. There is also an application process for foreigners without social security numbers - although they say it takes 3 months. Bizee is another one, although they seem to force you to sign up for their virtual address service, which you don't need in order to register.
Where is your accountant from then, the US?
Im based in the UK, my business partner in the USA, how can this video help me? Is the fact there is a member in the USA enough to trigger all US taxes on my side as well?
Do I need to pay tax if im not a residence of any country with a US LLC?
You will pay taxes in whichever country you receive your money and have your personal back account.
Great video! Approximately what percentage of your Stripe payments got previously declined?
Which company did you use to help you set up your Dubai co? Great vid
Why did you use your Dubai company as the LLC owner and not yourself?
Wouldn't you have saved on taxes if you had it in your own name, since Dubai has 0% income tax?
No, the US LLC is liable for corporate tax in UAE - the UAE treats it as a corporation
Hey Toumas.... KIndly break down the part of actually bringing your money back to your country
What you should do depends on your specific situation. For me: LLC -> UAE holding company -> personal account
@@tuomaskiv Understood. From UAE holding to personal, do you eventually incur taxes?
As a UAE resident I have 0% personal income tax. You pay the income tax rate of your country of residence when paying a salary to yourself, or the dividend rate if paying to yourself as a dividend. What makes most sense for you depends on your exact situation.
@@tuomaskiv Wow. What an elaborate explanation. Thank you for your response
@@tuomaskiv From LLC -> UAE holding company You won't pay 9% Corporate tax?
8:25 He was talking about our weirds countries 😂😂
Great and very informative video .. I’m a UAE resident and I’m in a process of opening a US LLC … but I’m not sure why you are using your UAE company to pay yourself salary and not doing it directly from your US LLC.
You need an US LLC to set up an e-commerce business like Amazon FBA or TikTok Shop in the US, and you do also need an UAE company to pay yourself a salary in order to maintain your residency status in Dubai.
@@eldridgesawyer2384 that makes sense … thanks. And what would be the transaction type/description from the US LLC to UAE LLC?
Awesome and clearly explained. Thanks!
What about US VAT? you don't have to charge a US client VAT through a UAE entity. isn't it?
No Vat in USA
Great Video! I already set up a UAE Company now I’m searching for a better solution because of stripe offers only Credit Cards in the UAE Business Location. Do you know how long it takes to set up the US LLC ?
Hey, If you need a UAE bank account, try wise(transferwise)
@@leo-phiponacci Thank! I already set up everything with WIO Bank for Personal and Business Bank Account. Was a really smooth experience with them.
Hi, i’m from peru, I run airbnbs in my country but I want to open an LLC in Delaware. I wonder if i will have to pay sales taxes?
You would most likely have to pay local Peruvian sales taxes but that depends on your local laws
@@tuomaskiv Kindly break this down
This video is so helpful but I just have a quick question about what will happen if I open a bank account in US ?Does that change anything regarding tax?
doesn't change anything
@@tuomaskiv Please could you assist me regarding this matter
Please see below answers:
Do you own the company? Yes
How do you generate revenue? Marketing services
Is there someone managing the business locally, or do you oversee it online? Online
What type of business do you operate? Could you describe its nature? It's a marketing company
Is your business registered in the USA or South Africa, given that you are a South African citizen? USA - I have a USA tax number
If you could provide a brief overview of how you manage your business, it would greatly aid my research.
I manage it from here, I have a USA bank account, tax number and company number.
*My worry is about paying tax there and when transferring money to SA, having issues with tax here*
Thank you in advance
If you are a South African citizen providing freelance marketing services to a client in the U.S. while living and working in South Africa, and your business is registered in the U.S. with a U.S. tax number (such as an EIN) how this works in terms of tax
You pay tax in South Africa
@@tuomaskivwhat if he doesn’t transfer any money which he receives on his US bank accounts to his local African bank account?
@@vibewithdipen8473 Exactly...
Sounds great, until you try to open a bank account...!
Neo banks solve this
Mercury
Hey Tuomas , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?