Comments on: Why you don’t want to go at it alone

By: Ron

Ron — Thu, 25 Feb 2010 05:08:35 +0000

Thomas, I am a US tax professional. What you described is a blatant, simplistic attempt at tax evasion and would not work.

By: John

John — Thu, 04 Feb 2010 17:39:16 +0000

Simon, your daily mails are one of the best things of the day. Many thanks for it. I hope you will soon tell us about your ideas for new passport and citizenship. In those days more then welcome!

By: Thomas

Thomas — Wed, 03 Feb 2010 23:18:40 +0000

Simon, third to last para…am I to assume Blair will be keeping her US citizenship? That would be the reason to use the “roughly $90,000 tax-free ” IRS provision.
Is it possible in this case to have a Belize corp that generates $1 million for example owned under your other citizenship and pay you a salary of $90K to you the “American” and the other $900K is not subject to IRS taxation?

By: Jai

Jai — Fri, 29 Jan 2010 18:49:31 +0000

Good thing Blair has time & money to reduce the impact of her mistakes – that’s an enviable position to be in. But some people have to pretty much “go it alone” since too many “experts” just plain charge too much money for not that much work. And then of course, there are those who are cussedly independent and would rather DIY, and save the money for something more important to them than the paperwork.

There are often standard forms for incorporation, LLC, etc, and all some of us really need is that standard form. Having been a paralegal, I can assure most of you that that is all you got when you paid the attorney for incorporation – of course, he/she did put the printouts into a fancy 3-ring binder for you. I’d rather key it in, print it out, and I don’t need any binder at all – file folder will do! “Resource management,” please. “Cost effectiveness,” please.

By: Marquelle

Marquelle — Thu, 28 Jan 2010 21:36:37 +0000

South America, eh…Uruguay I presume?

By: "Mateo"

"Mateo" — Thu, 28 Jan 2010 21:23:17 +0000

Wow Simon,
I am in real estate and this sounds all too familiar and I must say that I lucked out on my foray into international real estate to some slight degree, and agree with your multiple flags approach, however the quality and amount of material out there is staggering to any would be beginner. My apologies but being a recent subscriber could you (or fellow readers) refresh me on what the Panama Black Paper consists of, it looks like something I would like to check out as I am considering some business ventures in Panama for the long term.
Simon I would also be quite interested in a post walking us through your screening process on what you look for in a potential business partner.
Hoping to be your neighbor in the Panamanian Complex…
cheers

By: Kevin Rocks

Kevin Rocks — Thu, 28 Jan 2010 17:44:00 +0000

I can sympathize with Blair’s experience. Thales Securities was also shall we say, less than forthcoming on Panamanian IBC’s, the rules, regs and particularly the legal fees, not to mention their complete inability to carry out trades in a timely manner