gawguy Posted April 19, 2006 Report Share Posted April 19, 2006 Remember the days of the Numbered Swiss Bank Account? Funds could be held anonymously. Now we are "post 9/11" and big brother is more and more curious. Basically I want to bury some money in a tin can someplace, the "tin can" being a secure institution, and "some place" being the world. I know we have some sophisticated lads amongst us who can shed light on such matters. I'm a US citizen living part time in LOS.. I have US business which is vulnerable to frivilous lawsuits by lowlifes who lie about watching "The People's Court" and such all day wondering "Can I do that too!?" They have put me through the wringer before. I need to put funds out of reach of the lawyers they would love to have serve them. The greed of the attorneys is merciless, so as insurance against them, I want to put some funds out of their reach. My retirement accounts (IRA's) are set, so I don't think I can do any more with them. How and where can one hold money confidentially and with confidence? I have been reading something about EIBs - Executive Investment Bonds. Also known as Portfolio Bonds. Does anyone know anything about them? Confidential? Secure? What about setting up a foreign company? What options might one pursue in Singapore, that most reliable of banking centers? Or is LOS as good a place as any? Link to comment Share on other sites More sharing options...
BelgianBoy Posted April 19, 2006 Report Share Posted April 19, 2006 GG, Numbered swiss accounts are still alive and kicking ! Check here ! BB Link to comment Share on other sites More sharing options...
Nervous_Dog Posted April 19, 2006 Report Share Posted April 19, 2006 I use Singapore, very easy to do, also Samoa comes highly recomended, while the Channel Islands are under threat IF you are naughty from the EU. Virgin Islands under threat from USA. Cook islands BAD!!! Samao, no one knows about it and easy to do remotely AND with major international well known banks DOG Link to comment Share on other sites More sharing options...
ThaiHome Posted April 19, 2006 Report Share Posted April 19, 2006 Don?t forget to report any foreign bank account with a balance of over $10K (form TD F 90-22.1 ) and to report any earnings on your tax return. I have learned over the years not to f**k around with the IRS, so I don't even think about hiding money overseas. Maybe your fear of judgements from lawsuits overides that. TH Link to comment Share on other sites More sharing options...
gawguy Posted April 19, 2006 Author Report Share Posted April 19, 2006 BelgianBoy said:GG, Numbered swiss accounts are still alive and kicking ! Check here ! BB Clipped from their web page: "If you are a citizen of or live in one of the following countries you cannot open this account: Afghanistan, Albania, Colombia, Cook Islands, Dominica, Egypt, Grenada, Guatemala, Indonesia, Marshall Islands, Myanmar, Nauru, Nigeria, Niue, St. Vincent, The Philippines, USA." All these rather small, questionable places and then USA! Now why is that? GG Link to comment Share on other sites More sharing options...
Nervous_Dog Posted April 19, 2006 Report Share Posted April 19, 2006 Because USA asked for it to be put there! Link to comment Share on other sites More sharing options...
OCgringo Posted April 19, 2006 Report Share Posted April 19, 2006 National Security , what other answer would you need OC Link to comment Share on other sites More sharing options...
MaiLuk Posted April 19, 2006 Report Share Posted April 19, 2006 As usual with US criminal statutes, the punishment is draconian and would have made count dracula blush. About 8 years ago the US passed some interesting laws. Set up an offshore account and fail to report it to the internal revenue service. Here is your sentence: 1. Forfeit the entire amount you failed to report whether it is $100 or $100 million. 2. In addition, incur a penalty in the amount of 100% of the entire amount you failed to report whether it is $100 or $100 million. 3. Imprisonment up to 20 years in a federal penitentiary. That was the law prior to 9-11 by the way. I don't know what other punishments they have dreamed up in the name of catching them terrorists since then. Maybe undergo torture in secret prisons. I was in the business of helping people protect assets by moving everything offshore. Needless to say when they passed the new laws I closed shop. You still want to open up an offshore account? Link to comment Share on other sites More sharing options...
.. Posted April 19, 2006 Report Share Posted April 19, 2006 Nervous_Dog said:Because USA asked for it to be put there! Just another reason why Mrs Tiger does not have a US passport, even tho' she could get one by taking the test. She's the family banker LOL! Cheers, SD Link to comment Share on other sites More sharing options...
buffalo_bill Posted April 20, 2006 Report Share Posted April 20, 2006 Probably your personal reasons beat all warnings , but as a previous member of the offshore community I can only tell you about my experience : If you really want to go offshore , choose a place which is physically accessible like Hongkong. Do NOT move money by transfer , I may repeat this hundred-fold and again . Do NOT open an account in your own name for heaven's sake . Buy cash certificates and put them in a safety box . Or use a Chinese friend's account with power of attorney if you like cash available . I am not sure about the volume of your transaction but if it is big enough you might contact a Hongkong outlet of a Swiss bank and talk to their specialists . Private banking . But under a million USD no deal , they would also not accept bundles of cash . They are ideal for volume kickback business with China . Life does not get more peaceful with offshore dealings , it is the opposite . I was out of it using a generous German tax offer last year and won't do it again . BuBi , saturated Link to comment Share on other sites More sharing options...
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