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  #1  
Old 03-19-2008, 08:03 PM
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Foreign company purchases

Hello,

I am looking into starting an off-shore company. What I need to know is if it is legal for me to make purchases through the company for personal goods, (ex.: my house, car, etc.)

I would basically like to buy everything I want through my off-shore company. That way, I won't have to pay myself and report personal income that will be taxed.

Any advice would be greatly appreciated.
  #2  
Old 03-19-2008, 10:52 PM
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Lots more would be needed to even get to the point where your "plan" would even pass the giggle test.
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  #3  
Old 03-20-2008, 06:43 PM
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Ok. Here's more of my story then.

I am a profitable forex trader that has tried to find out information on my own about tax-havens. I am currently leaning towards Andorra. All of my trading and business is done at my home, through the computer. I have no one working for me.

I don't know how much more info. you would need, but all I really need to know is if I do open a company in Andorra, can I purchase a home and car in the USA under the company? If that is illegal, and I have to pay myself out of the company and report my income to buy a house, then that kind of defeats the purpose for me.
  #4  
Old 03-20-2008, 06:55 PM
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Hee...hee...giggle. Nope, still obviously illegal. You can't arrainge to work in the US without paying taxes through some legal arraingment.
I'm not going into detail as you aren't, but no, you can't do that.
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When you are a Bear of Very Little Brain, and you Think of Things, you find sometimes that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it.
--W. T. Pooh (aka A. A. Milne)
  #5  
Old 03-20-2008, 07:08 PM
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Um, no. Think Tax Fraud.
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  #6  
Old 03-20-2008, 08:37 PM
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I appreciate the replies, and I am glad I am giving you a good laugh.

Well, I don't know. There must be some reason so many people have off-shore companies. It doesn't make much sense to me to have an off-shore company if you can't spend any of the money without paying taxes. I admit, my knowledge of this is non-existent, but I'd like to find out as much as possible before seeing anyone.

I guess I'll have to go see some professionals.
  #7  
Old 03-20-2008, 09:26 PM
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Quote:
Originally Posted by bebop View Post
I appreciate the replies, and I am glad I am giving you a good laugh.

Well, I don't know. There must be some reason so many people have off-shore companies. It doesn't make much sense to me to have an off-shore company if you can't spend any of the money without paying taxes. I admit, my knowledge of this is non-existent, but I'd like to find out as much as possible before seeing anyone.

I guess I'll have to go see some professionals.
You got replies from two very experienced professionals already. I will now give you a response from a third....expect the professionals that you go to see to "giggle" at you also...unless they simply throw you out of their offices.
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  #8  
Old 03-20-2008, 10:05 PM
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Quote:
Originally Posted by LdiJ View Post
You got replies from two very experienced professionals already. I will now give you a response from a third....expect the professionals that you go to see to "giggle" at you also...unless they simply throw you out of their offices.

Yes, it is very professional to giggle at your customers. Do lawyers forget that people come to see them, and pay them good money, to get answers to their questions, not laughed at. If I knew the answers to these questions then I wouldn't be asking for advice in the first place.

Talking to you guys/gals is like talking to a bunch of kids straight out of college, which is probably exactly what you are. I seriously doubted anyone here had expertise in the field I was curious about, but I thought I'd give it a try. Now I am certain no one in here is an expert in this field. Just a bunch of know-it-all pricks. Typical lawyers, I guess.

I don't think this is just a simple yes or no answer. As I said before, there must be some reason off-shore companies are so popular.

Oh well, I got what I paid for, which was absolutely nothing. You all have been so helpful. At least you know what your worth.
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