Q: If I own an investment company IBC in Belize under a nominee director and shareholder, am I a CFC? (View details)
So I own an investment company we invest in currency exchange. The IBC was opened in Belize under a nominee director and shareholder, we have no actual dealings with US products or persons and everything is done online, I plan on bringing all the money back to states and declaring it as personal income payed to me as an employee of the company, and to my understanding all I would have to pay is self employment tax.
But I recently ran across something called CFC law, and I’m not sure if In this specific case, this is considered under US Law as a CFC, anyone out there know if it does, and if it does is there a way that I can structure the company that would avoid having to categorize it as a CFC?
If it’s not currently categorized as a CFC, will it take on the title as CFC, if I start hiring employees in the states to work for the Belize IBC?
To my current understanding it does not get categorized as a CFC because I have no dealings with US products, services, or persons.
A: This is way too complicated a situation to be answered via this type of forum. You need to hire a tax attorney or accountant to review this situation and give you specific advice.
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