Living on a boat and avoiding taxes

What about opening an account with a Swiss broker and trading US-futures through this broker?

Does the Swiss broker give information about the owners of the accounts?
 
There was a high profile case recently where a swiss bank handed over client details to a foriegn government as part of criminal investigation. So it does happen, contrary to popular belief.

Also don't confuse Swiss Banking Secracy with Swiss Broker Secrecy. They are not the same thing.


Runningbear
 
Quote from Runningbear:

There was a high profile case recently where a swiss bank handed over client details to a foriegn government as part of criminal investigation. So it does happen, contrary to popular belief.

Also don't confuse Swiss Banking Secracy with Swiss Broker Secrecy. They are not the same thing.


Runningbear
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The only realistic option is to move to a place where taxation is low( at least for non US citizens).

Monaco.
 
Quote from Runningbear:

There was a high profile case recently where a swiss bank handed over client details to a foriegn government as part of criminal investigation. So it does happen, contrary to popular belief.

Also don't confuse Swiss Banking Secracy with Swiss Broker Secrecy. They are not the same thing.


Runningbear
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Not for tax-evasion.
 
Quote from Runningbear:

I'm just pointing out how the system works. Feel free to take that chance if you want to.

Brokers request copies of your license or passport for a reason. Investigating Insider trading and money laundering are the obvious ones. Both of which sometimes involve offshore accounts. So you're already putting a red flag next to your name by disclosing your directorship.

But feel free to go right ahead.

Runningbear
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I definitely would not want to "take a chance".

i am just saying, if i wire money to an offshore account, how will my own government ever know? it's not that the us will actively file and spread information will they. and tax-evasion is not a criminal activity, it's against the law, but not criminal like money laundry.
 
The swiss won't give out your info unless the asking party can show that you were involved in a criminal activity. Tax evasion in switzerland is not a crime. Also they warn you if they receive a summons. They will freeze the money, but thats its.

They have gone after crooks like Abacha from Nigeria and few dubious russian crooks.

If you obtained your money legally not through drugs etc your info will never get out the swiss are paranoid about.
 
Quote from dont:

the swiss are paranoid about.
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It's not really a question of being paranoid :D

It has more to do with history. Citizen are believed to be honnest by the state and the state believes that freedom and privacy are stronger than tax purposes.
 
Quote from science_trader:

It's not really a question of being paranoid :D

It has more to do with history. Citizen are believed to be honest by the state and the state believes that freedom and privacy are stronger than tax purposes.
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Sorry you are quite right. I just meant they are unlikely to move on the issue.

It reminds of the story of the census in the Netherlands. Done pre-WWII. All the dutch being good citizens disclosed their addresses religion etc.

The Nazis then walk in and use the information to round up the jews and send them to their deaths.

I belive now a census in the Netherlands never gets more than a 50% response and then most of it probably rubbish.
 
Quote from Remiraz:

that makes it easy. migrate to switzerland and don't pay taxes then. :eek:
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Tax evasion not being a crime, hence not being a penal offense, you don't risk to go to jail. But you risk the fine.
 
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