Pre-immigration Tax Planning

U.S. residents are required to pay tax (up to 37% - only federal, not state tax) on their income earned in any country in the world (World Wide Income). Such income in some cases includes profits of foreign companies owned by the resident. In addition, U.S. tax residents pay inheritance tax (up to 40% federal, excluding state tax).

 

The rules of tax residency are quite different from the Russian rules. Under some circumstances you can become a tax resident even if you spend only one month in the U.S. on a tourist visa in a particular calendar year. A green card holder becomes a U.S. tax resident from the day he enters the U.S. on an immigrant visa and may be required to file a tax return even if he enters on December 30.

 

Restructuring assets and income before becoming a U.S. tax resident can legally save a very large share of income and inheritance tax. That doesn't mean you have to get rid of the assets and income at all. Sometimes it is enough to sell and buy back the shares at the current market price, put the property in a trust or contribute to the company's capital.

 

Our specialists are familiar with the corporate and tax laws of Russia and the United States, which allows them to optimize the process of restructuring on both sides of the border.