Your tax obligations as a foreign individual are as follows: Federal Corporate Tax State Corporate Tax Sales Tax
@zeyad3k
14 күн бұрын
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.
@eldridgesawyer2384
9 күн бұрын
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.
@zeyad3k
7 күн бұрын
@@eldridgesawyer2384 that makes sense … thanks. And what would be the transaction type/description from the US LLC to UAE LLC?
@nickyverhoeven4791
3 ай бұрын
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.
@tuomaskiv
3 ай бұрын
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
@kevinmckenziee
4 ай бұрын
Very well explained, it is important to do things right :) Great explanation!! Editing was awesome btw
@tuomaskiv
4 ай бұрын
Thanks so much!
@lovalona7389
4 ай бұрын
Your tax obligations as a foreign individual are as follows: Federal Corporate Tax State Corporate Tax Sales Tax
@Ngan-zy9kd
Ай бұрын
@@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😊😅
@Ngan-zy9kd
Ай бұрын
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! 😊
@Ngan-zy9kd
Ай бұрын
Most banks don’t like to deal with US money open account there for complicated reporting IRS regulations! 😢 Don’t get US involved😊
@Steve8105
4 ай бұрын
Where is your accountant from then, the US?
@helenefalk500
4 ай бұрын
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
@ironsa97
2 ай бұрын
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 ?
@leo-phiponacci
Ай бұрын
Hey, If you need a UAE bank account, try wise(transferwise)
@ironsa97
Ай бұрын
@@leo-phiponacci Thank! I already set up everything with WIO Bank for Personal and Business Bank Account. Was a really smooth experience with them.
@unequivocaldao1728
3 ай бұрын
Sounds great, until you try to open a bank account...!
@strauss7151
2 ай бұрын
Neo banks solve this
@joemq
2 ай бұрын
Mercury
@mazzidumato
2 ай бұрын
So now with the 9%, does your UAE company have to pay for the US company profit?
@tuomaskiv
2 ай бұрын
Depends, watch my guide to the UAE corporate tax or book a meeting with us
@dismahusername8309
Ай бұрын
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?
@sherifkhalaf-zj1nm
Ай бұрын
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?
@qartheros
6 күн бұрын
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?
@tuomaskiv
6 күн бұрын
Good question, on the UAE corp accounts they are dividends/profit distributions from a subsidiary
@qartheros
6 күн бұрын
@@tuomaskiv so does that mean the LLC is owned by your UAE company, not you?
@tuomaskiv
6 күн бұрын
yes
@BrendanPGoodman
12 күн бұрын
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.?
@synia566
4 ай бұрын
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.
@michelemacnab8471
Ай бұрын
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?
@subthewaysurfz
Ай бұрын
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
@michelemacnab8471
Ай бұрын
@@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.
@dismahusername8309
Ай бұрын
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?
@Felix-dopamine-acc
4 ай бұрын
Do I need to pay tax if im not a residence of any country with a US LLC?
@strauss7151
2 ай бұрын
You will pay taxes in whichever country you receive your money and have your personal back account.
@JaydotBeats
Ай бұрын
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?
@tuomaskiv
Ай бұрын
yes, probably, there are nuances to keep in mind
@JaydotBeats
Ай бұрын
@@tuomaskiv what’s are some of the nuance to keep in mind?
@FuadAman-wv5pc
4 ай бұрын
Great video! Approximately what percentage of your Stripe payments got previously declined?
@strauss7151
Ай бұрын
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?
@tuomaskiv
Ай бұрын
No, the US LLC is liable for corporate tax in UAE - the UAE treats it as a corporation
@joemq
2 ай бұрын
Which company did you use to help you set up your Dubai co? Great vid
@Lewi.s
Ай бұрын
Hey Toumas.... KIndly break down the part of actually bringing your money back to your country
@tuomaskiv
Ай бұрын
What you should do depends on your specific situation. For me: LLC -> UAE holding company -> personal account
@Lewi.s
Ай бұрын
@@tuomaskiv Understood. From UAE holding to personal, do you eventually incur taxes?
@tuomaskiv
Ай бұрын
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.
@Lewi.s
Ай бұрын
@@tuomaskiv Wow. What an elaborate explanation. Thank you for your response
@anmolverma318
Ай бұрын
@@tuomaskiv From LLC -> UAE holding company You won't pay 9% Corporate tax?
@pierrotmd
2 ай бұрын
8:25 He was talking about our weirds countries 😂😂
@RedouanFrero
4 ай бұрын
What about US VAT? you don't have to charge a US client VAT through a UAE entity. isn't it?
@AllInOneTunes
3 ай бұрын
No Vat in USA
@Lestca1
2 ай бұрын
Awesome and clearly explained. Thanks!
@tjace4262
2 ай бұрын
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?
@tuomaskiv
2 ай бұрын
You would most likely have to pay local Peruvian sales taxes but that depends on your local laws
@Lewi.s
Ай бұрын
@@tuomaskiv Kindly break this down
@AllInOneTunes
3 ай бұрын
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
3 ай бұрын
doesn't change anything
@AllInOneTunes
3 ай бұрын
@@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
@AllInOneTunes
3 ай бұрын
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
@tuomaskiv
3 ай бұрын
You pay tax in South Africa
@vibewithdipen8473
2 ай бұрын
@@tuomaskivwhat if he doesn’t transfer any money which he receives on his US bank accounts to his local African bank account?
@Lewi.s
Ай бұрын
@@vibewithdipen8473 Exactly...
@Divyv520
4 ай бұрын
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 ?
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