USA Corporation that doesn’t display Director Names

[remipower]

Hello. I am NOT looking to form an anonymous US Corporation, as I have read that it’s impossible.

Basically, any court can order to see the names behind any US Corporation, and I’m perfectly fine with that.

I am looking to form a corporation in the USA, where no person can just simply go to the state’s website, and lookup the officers/members of the corporation.

I am leaning towards Delaware, since officers are not listed, and you can pay for a yearly Registered Agent.

However, I do NOT live in Delaware, and according to my state (Florida), I would need to register as a foreign corporation! However, if I register as a foreign corporation, it would show my name on the state’s website, so that doesn’t work either.

I could go without registering as a foreign corporation, but I have read that there could be certain risks. For example, is it true that a lawsuit could pierce the veil and go after me personally because I did not follow my state’s rules (by registering as a foreign corp)?

Any other suggestions as how I can eliminate my name from the state’s websites in the USA? Most of my business is with USA people, so going offshore is probably not an option for me.

Thank you

[OffshorePrivacy]

If you really want a US corporation just use nominee director service and then there is no way your name will be public available or available by visiting the registrar.

You would be surprised at the number of US companies that all operate offshore to avoid the issues you have discussed. Especially 80% of the multi-nationals. While you would not receive the benefits of a 2% tax rate as Google did, you do receive the benefits of privacy and unless you are sued by someone with very, very deep pockets who can go through the difficult and expensive process of identifying you offshore you face little to no risk of a lawsuit. US lawsuits or judgments have no significances offshore.

You would also be able to legally move money from a US business account to an offshore account for asset protection/safe keeping or to hold in something other than USD which some view as a long term risk provided as long as you make the required filings with the IRS if you have more than $10,000 in all of your non-US accounts at any one time during the year. If you do not there is no reporting requirements at all unless you earn interest or have capital gains on those funds.

[remipower]

Thanks OffshorePrivacy for the reply.

You've given me some things to think about.
I was reading an article online about how Google legally achieves the 2% tax rate . It does specially state that Google is able to do this with its international operations, so that's why I'm amusing you say that I won't be able to achieve that, since I am in the USA with USA customers.

My basic concern with an offshore corporation is this:

1)
Is there anything illegal about it if I follow and pay the taxes here in the USA?
My business will have more than $10,000 at one time in the offshore account.


2)
How do companies here in the USA view the fact that you have an offshore corporation? My sources of income come from companies that deposit to my USA account via wires. Will having an offshore company affect this?

3) How about new business opportunities. Do you think these companies will view my business as "scammy" or risky if I tell them to wire the money to an offshore corp?

Thanks

[OffshorePrivacy]

Google incorporated a myriad of companies offshore including one in Ireland to handle all worldwide advertising sales so that 2.3% tax was on worldwide income. Unfortunately, US small businesses cannot take advantage of this setup which cost a fortune to setup and annual fees and was approved by the IRS first.

Now to your questions.

1. It is not illegal to have an offshore account as a US citizen or resident as long as you declare your offshore bank account and file the proper forms with the IRS including a new requirement starting this year. It use to just be a FBAR but they have added a second requirements essentially for accounts with over $50,000 in offshore accounts or investments.

2. US clients sending funds to a bank account in an obvious tax havens may be subjected to additional IRS scrutiny. However if your clients continue to pay you in your local US business account and then you later transfer funds offshore they never have to know. It does means though if you are sued the funds offshore are out of reach for most lawsuits, divorce and in some cases the government as well in non-criminal matters. You can also hold funds in different currencies which might be a good idea if the pundits are correct about the dubious future of the USD.

3. As for new clients you could simple give them the option of paying to an offshore bank account if they wanted to or continue paying to your US account if you are concerned. There are offshore banking options that are not in a tax havens so clients who have fewer potential issues as opposed to sending money to Panama, the Caribbean of other well known tax havens.

[remipower]

Understood.

So basically if I follow your steps

step1: receiving money in my local US corporation
step2: paying the taxes on that income as I currently do in the USA
step3: transferring that money to an offshore corporation

Questions

1) it would be perfectly allowed and legal, and what I would be gaining, is asset protection from lawsuits.

2) Using this method, I would use my offshore corporate bank account, as a savings account. Are offshore banks as reliable as the USA banks? Here at least we get the FDIC protection.

[OffshorePrivacy]

1. Yes, as long as you declare the account to the IRS it is completely legal and you gain significant advantages in asset protection.

2. Some would consider the offshore banks to be safer than US banks. We have known of only one offshore bank to fail in the last 5 years as opposed in hundreds in the US. EU banks all offer depositor insurance that average 50,000 -100,000 Euro. Ireland has unlimited insurance but I am sure you can figure out why that is ;-) Caribbean banks typically do not.

[remipower]

Thanks again OffshorePrivacy. You really know your stuff. Once I decide to open the offshore setup, I will contact you.

I have been reading on other websites today, about other states in the USA, where director names do not need appear, and New Mexico comes up. These sites even recommend placing automobile titles, real estate under the New Mexico LLC.

What are your thoughts on this approach?
Am I correct in saying that this will not protect you against lawsuits in the same way that an offshore corp would,
but if you want privacy from the public, this would be a good way of doing it?

[slogold]

Wyoming and New Mexico not require you to name members of LLCs, for corporations we do not keep the information since we do not set them up.