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Basically I have two small corporations. What I was thinking of doing is starting in management consulting firm in a tax-free country and have each Corporation pay about 50 K a year in consulting fees. After miscellaneous expenses I would probably divert about 80 K year and earnings to say a Bermuda Corporation. So if I understand this correctly, the 80K a Bermuda Corporation earns Corporation would not pay tax on that amount as long as the funds did not enter the US.