Off-shore Banking Question..

The Swiss recently passed an amendment to their constitution guaranteeing bank secrecy. But of course that doesn't apply to the US subsidiary of a Swiss bank. If you want a secrecy you can't leave a paper-trail in your home country.
 
Quote from mangudai:

The Swiss recently passed an amendment to their constitution guaranteeing bank secrecy. But of course that doesn't apply to the US subsidiary of a Swiss bank. If you want a secrecy you can't leave a paper-trail in your home country.
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Bank secrecy even stronger ?

A link to this ?
 
The Germans, French, Brits and US will threathen to pull the license to do business....freeze assets of holdings

It is a joke to think they won't put you in jail for tax evasion....

Odds are probably not high, but why take that risk....but it is your decesion.....


SteveD
 
Quote from SteveD:

I don't know if you are following but the Justice Dept has a "john doe" warrant against UBS....there are thousands of rich Americans seriously sweating a prison term for tax evasion...UBS set up and solicited wealthy Americans....the Swiss are going to sing like a canary with your records....

The Germans, Brits and French are also going after tax evaders...

There is absolutely no place to hide from the tax man anymore..Game is over...and the prison time is increasing...

I would think the biggest risk now is that the country government will just take your money....who you going to complain to???

SteveD
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I think the only hope is that some countries will stay and/or go low tax which will create competition for government tax rates since some people/corporations will actually renounce citizenship and/or move offshore. Eventually, it would seem any way, even governance has to get competitive?
 
There are entirely too many mutual pacts/trade agreements to ever have developed countries get too competitive on taxes....

They need the tax money also....how loud is a 100 year old company in a country going to howl when they lower taxes for a US newcomer....

And companies may move divisions/projects around to best suit the tax situation.....

But what we are talking about is tax evasion by secretely hiding money from the tax authorities of home country....

All the US has to do is suspend UBS license for 10 days to get their attention.....the new management would give up records in 30 seconds...the old management would be gone on day 1....

I hate to pay taxes but I damn sure don't want to go to jail....

SteveD
 
Quote from risktaker:

I's be more concerned how you got the funds there and how you plan if ever to repatriate back to the states.
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Gold, gems. Bearer bonds?

Chinese prospectors melted American gold into pots and pans, painted them black, and took them back to China.
 
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