best country for offshore accounts privacy wise?
Discussion
Looking into setting up an offshore account with very good privacy.
I have been looking for a few weeks now and still can't spot what i am looking for.
As far as i can see switzerland and panama have signed up to a 'white paper agreement' or something which means they will divulge info if asked.
A friend suggested the seychelles or bahamas but he has no financial background.
I have been looking for a few weeks now and still can't spot what i am looking for.
As far as i can see switzerland and panama have signed up to a 'white paper agreement' or something which means they will divulge info if asked.
A friend suggested the seychelles or bahamas but he has no financial background.
pimping said:
Looking into setting up an offshore account with very good privacy.
I have been looking for a few weeks now and still can't spot what i am looking for.
As far as i can see switzerland and panama have signed up to a 'white paper agreement' or something which means they will divulge info if asked.
A friend suggested the seychelles or bahamas but he has no financial background.
I hope by privacy you don't mean "privacy from the tax man".I have been looking for a few weeks now and still can't spot what i am looking for.
As far as i can see switzerland and panama have signed up to a 'white paper agreement' or something which means they will divulge info if asked.
A friend suggested the seychelles or bahamas but he has no financial background.
Cook Islands used to be up there.
Delaware might be the go these days... if you want to minimise tax. Tonker was talking about the general approach the other day.
Something like holding co with IP charges trading entities royalties which get accounted for in zero tax location.. and job's a good 'un.
Delaware might be the go these days... if you want to minimise tax. Tonker was talking about the general approach the other day.
Something like holding co with IP charges trading entities royalties which get accounted for in zero tax location.. and job's a good 'un.
After the UBS and Julius Baer banking cases, many wealthy individuals are turning to private banks in Singapore and Hong Kong.
But will it really be long before the American, and other governments force these places to sign up to similar anti-secrecy legislation?
Not that I'm rich enough to use one but its ironic how much trouble our governments go to shutting down such systems yet at the same time happily accept looted, stolen, and criminal funds from wealthy individuals from all over Asia, Africa and the Middle East.
Evade taxes in the uk = you're a scumbag, Evade taxes in India or Thailand and come here = you're a top bloke.
But will it really be long before the American, and other governments force these places to sign up to similar anti-secrecy legislation?
Not that I'm rich enough to use one but its ironic how much trouble our governments go to shutting down such systems yet at the same time happily accept looted, stolen, and criminal funds from wealthy individuals from all over Asia, Africa and the Middle East.
Evade taxes in the uk = you're a scumbag, Evade taxes in India or Thailand and come here = you're a top bloke.
Isle of Man?
Singapore and HK are both well regulated, Singapore certainly to FSA standards. We were putting our stuff into Mauritius, but they canned their tax treaty with India recently (IIRC).
If you're concerened about FATCA, it's already illegal for anyone to advise you how to hide your assets.
Singapore and HK are both well regulated, Singapore certainly to FSA standards. We were putting our stuff into Mauritius, but they canned their tax treaty with India recently (IIRC).
If you're concerened about FATCA, it's already illegal for anyone to advise you how to hide your assets.
Any English speaking place with sound regulations...you need to be able to easily talk/email to bankers, lawyers, representative nominees, etc.
Then, company instructs a Trust which itself owns a holding company outside EU, and holding company then owns series of trading or asset companies with any jurisdiction. Costs EUR 30k / year, so if tax avoidance is small amount, don't bother kidding yourself. EU courts can access any EU country, so you need the bridge outside EU (ie BVI).
You will appear to own none of it....all nominee stuff. Tax will be....above fees.
Any single trading or asset company can be sold, shut down, etc...with ease, if problems arise, or you wish to exit.
BA
Then, company instructs a Trust which itself owns a holding company outside EU, and holding company then owns series of trading or asset companies with any jurisdiction. Costs EUR 30k / year, so if tax avoidance is small amount, don't bother kidding yourself. EU courts can access any EU country, so you need the bridge outside EU (ie BVI).
You will appear to own none of it....all nominee stuff. Tax will be....above fees.
Any single trading or asset company can be sold, shut down, etc...with ease, if problems arise, or you wish to exit.
BA
Eric Mc said:
big ant said:
You will [b]appear[.b]to own none of it....all nominee stuff. Tax will be....above fees.
How can that be legal?If you have legal access to it surely it must be your's.
Eric Mc said:
I like the way you put certain words in parantheses - which indicates they didn't actually mean what they said.
It's about time HMRC went after these sham schemes. I wonder why they took so long to get their act together on this.
Oh they are going after them now.....and after a few years of changing legislation to deal with new ones they are now attacking the old one's. It's about time HMRC went after these sham schemes. I wonder why they took so long to get their act together on this.
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