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Offshore Bank Accounts

Bumbaclat

TRIBE Member
Can anybody tell me any postive/negative experiences you've had with offshore bank accounts? A few of my friends maintain Bahama's bank accounts. I've been advised that Cook Island is much better. Also, what legal problems can one reasonably expect?

Bumbaclat
 

SlipperyPete

TRIBE Member
I couldn't tell you anything about that customer's secret, illegal bank account.

...crap...I shouldn't have said he was a customer

....double crap...i certainly shouldn't have said anything about it being illegal!

....it's too hot today
 

Bumbaclat

TRIBE Member
Originally posted by SlipperyPete
I couldn't tell you anything about that customer's secret, illegal bank account.

...crap...I shouldn't have said he was a customer

....double crap...i certainly shouldn't have said anything about it being illegal!

....it's too hot today

are you "on the pot"? :p

Bumbaclat
 
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Bumbaclat

TRIBE Member
Originally posted by mingster
Bumba, are you in trouble with the law again? ;)

I am shocked that you would even think something like that of me. I am the picture of innocence and good intentoins. I make nuns look like badboys. :cool:

Bumbaclat
 

Karim

TRIBE Member
There are lots of great places to go to in terms of secret banking.

Latvia is great

of course, the Bahama's

and Lebanon

What all these nations offer is a Visa Debit card that goes straight to your account. The benefits of this, is that you can spend your money in good ole' Canada, anonymously.

I think Latvian and Lebanese banks allow you to open accounts with just a number, so your name wouldn't even be involved, which insures privacy.

Problem with secure banking these days is the increased pressure on these nations from the USA to open their books to investigators.

Switzerland, the Gem of private banking, might crack to these pressures anytime (or already has).

Cypriot banking used to be the best, till Slobodan Milosovich's accounts were exposed and people saw how easy it was to crack that government to open their books.

In canada, you can bank under $5000 secretly, in a non-interest barring account.

Hope this helps.

:) <---- Wants a visa debit card
Karim
 

Bumbaclat

TRIBE Member
Originally posted by Karim
What all these nations offer is a Visa Debit card that goes straight to your account. The benefits of this, is that you can spend your money in good ole' Canada, anonymously.

yes, that's what my friends have.

Bumbaclat
 

SneakyPete

TRIBE Member
Why are you looking for an offshore account? I don't know much about it but from I know they're only useful if you want to avoid taxes from capital gains (either as a company or private investor) or if you have some lawsuits against you and you want to protect your assets. It's a hassel to start an account if there isn't a lot at stake; some places require a large initial deposit and there are a lot of paper work and such involved, which may cost a lot.

All things aside, some good places are the Bahamas and the Cayman Islands. When you're choosing a place one thing you should look at is the political stability of the country among other things. Someone mentioned Lebonon, their laws maybe a good destination for an offshore account, but based on the political instability in that area I wouldn't put my money there. The Caymans is a one of the best places for an offshor account. There's a reason why they have the 4th most banks in the world. ;)

Pete
 
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Bumbaclat

TRIBE Member
Originally posted by SneakyPete
I don't know much about it but from I know they're only useful if you want to avoid taxes from capital gains (either as a company or private investor)

the money is being earned offshore in the manner mentioned above.

Bumbaclat
 

Boo

TRIBE Member
Jersey... in the channel islands. Technically a province of England but very liberal tax laws is another consideration. I worked there for a summer its just rich ppl from england...good clubs too when you have to make a personal visit :)
 
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