Six great reasons for getting an offshore account

[italkcash]

There are plenty of reason to why bank accounts in offshore banks through offshore jurisdictions are the best financial tool you can ever acquire.

1) A bank account outside your own country with an offshore company as account holder you have a complete legal anonymity.

2) Having stored a boatload of money offshore will always give you the benefit of having money stored in any political situation.

3) Tax! There are no taxes, you can load your accounts with unlimited amount of cash and you never have to pay cash. Most offshore bank owners pay a yearly incorporation fee to the government that they incorporate in.

4) Usually getting into Switzerland and Liechtenstein which are the bank havens of the world is quite impossible. With an offshore company and anything beyond 20.000€ some good banks would be more than happy to store your money.

5) Only you and those you tell about it will ever know that this type of account exists.

6) Once you have a bank account you can get almost anything as long as you know how to put more cash in that account. You can get "bank reference letters", credit cards and anything to bolster your availability to acquire even more.

[id62000]

I see, Actually, this kind of accounts is good for running huge business. You store your money here and you don't have to pay tax to your country (but a bit goes to someother country).
Is this the same as an Offshore Merchant account? Is there any difference?

[ajacx]

Originally Posted by id62000

I see, Actually, this kind of accounts is good for running huge business. You store your money here and you don't have to pay tax to your country (but a bit goes to someother country).
Is this the same as an Offshore Merchant account? Is there any difference?

What do you mean by saying that a bit of money goes to other country? Is it some kind of fee ? or something that compulsory?

[id62000]

Originally Posted by ajacx

What do you mean by saying that a bit of money goes to other country? Is it some kind of fee ? or something that compulsory?

If you read the thread, you'll see that OffShore banks have to pay THEIR tax to the country they're incorporated to. So, your country gets no money, but some other country gets it. It's not a fee. It's tax. Yes, it's compulsary.
I think this is just yet another way to run away from paying tax.

[alec11]

so maybe offshore banks is the best choice for politicians and corruptor.
because their money in offshore banks account can't be tracked or audited, is it true?

[peteri]

but to setup an account you need a lot of money, i dont have it

[rucideuz]

alec11, I guess that is somewhat true. All clients' bank info are confidential. They woulnt want to lose their good reputation. That's why alot of high profile people open offshore accounts. Unless otherwise requested by the government for criminal/legal cases against their clients.

[indieover]

well that is really true that politicians are using offshore banks. here in my country most politicians have offshore banks. just for example our former president marcos has offshore banks in Switzerland. That is what they said about our president. So it is really true that you must have large amount of money to do that too. and so that will not be easy for us to have it or will just be plain impossible for small people.

[Offshore]

Corporate bank accounts offshore can be opened with as little as a $1,000 deposit

[pboot]

I am currently working as a tax accountant and would strongly advise being careful with your offshore bank accounts. The Obama administration has decided offshore tax evasion would be high on their list. They are offering no penalty to those who are willing to pay taxes on their offshore accounts - those who do not offer up taxes and are later found out will likely face hefty fines.

Not trying to say you shouldn't try to keep an offshore bank account, just saying that you want to be careful in your transactions.