#PanamaPapers

[The Scarlet Pimp]

this is getting heated... :batman:

Putin Spokesperson (With $620,000. Watch) Blames "Putinophobia"
For Offshore Scandal, Reminds Us That Putin Has "Many Friends"

Russian president Vladimir Putin's official mouthpiece has some things to say about the Panama Papers. According to Press Secretary Dmitry Peskov, the massive report, coordinated by 400 journalists from 100 media organizations in 80 countries is, firstly, a personal attack on Putin.

In a press conference earlier today, Peskov said that he's been expecting some sort of an "information attack" on the President for some time. These were bad journalists, he said, and they did a bad job, because he "learned nothing new."

http://gawker.com/putin-spokesperson-with-620-000-watch-blames-putinoph-1768940650

https://en.wikipedia.org/wiki/Panama_Papers

 

[MonsterMag]

may i ask why HK though? I've read a bit of part from some offshore investment blog and the guy actually does not recommend HK to me because he believes the banking system there is utter mess (he has lived there and now has moved on). He recommended some specific countries in africa and europe for low tax rate. Besides, according to recent events, apparently investors are leaving HK because of china's political intervention in the country.

It's near by and I can place a puppet there that officially manages the business while still being in control.
Hong Kong is not under jurisdiction of China mainland:
https://en.wikipedia.org/wiki/One_country,_two_systems

You should consider to contact another 'blogger' or do your own research. In the end it all comes down to what it best suitable for you (or in this case me)

 

[Capo Dei Capi]

this is getting heated... :batman:

Putin Spokesperson (With $620,000. Watch) Blames "Putinophobia"
For Offshore Scandal, Reminds Us That Putin Has "Many Friends"

Russian president Vladimir Putin's official mouthpiece has some things to say about the Panama Papers. According to Press Secretary Dmitry Peskov, the massive report, coordinated by 400 journalists from 100 media organizations in 80 countries is, firstly, a personal attack on Putin.

In a press conference earlier today, Peskov said that he's been expecting some sort of an "information attack" on the President for some time. These were bad journalists, he said, and they did a bad job, because he "learned nothing new."

http://gawker.com/putin-spokesperson-with-620-000-watch-blames-putinoph-1768940650

https://en.wikipedia.org/wiki/Panama_Papers

It is an attack on Putin, he wasn't named in the panama papers and the media keeps using pictures of him and going after even his spokeperson. Mr Peskov's wife gave him the watch, I don't see the big problem with it. The Gawker article tries bringing up his salary as a way to claim the only way he could have gotten it is if he is corrupt. Even if Mr. Peskov bought it himself doesn't prove any kind of corruption as one can also have investment and legitimate side businesses that don't result in conflict of interest while having a government position.

 

[TheHatIsGray]

He recommended some specific countries in africa and europe for low tax rate. Besides, according to recent events, apparently investors are leaving HK because of china's political intervention in the country.

I have a personal report from a US tax refuge that attempted to set up an offshore account in Latvia and the other Baltic former Soviet republics. He had an adult extreme business.
They used a bait and switch where they let him deposit over 50 000 USD and then refused access to the money because he could not prove legitimacy of income.
I would suggest that anyone looking to offshore only does business with personal business partners that you know in real life and can trace that person and their family or holdings if things go sour.
A classic bait and switch can have successful offshore operations for up to 3 years, then when there is enough money in the accounts, all money disappears.

Please note I do not recommend nor resell offshore services at this time, though I have registered companies internationally for personal use.

if you do go offshore, treat this as any other investment, with diversification being key.

Americans, be aware of this

United States persons are required to file an FBAR if:

1. the United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and
2. the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-FBAR

 

[Capo Dei Capi]

I have a personal report from a US tax refuge that attempted to set up an offshore account in Latvia and the other Baltic former Soviet republics. He had an adult extreme business.
They used a bait and switch where they let him deposit over 50 000 USD and then refused access to the money because he could not prove legitimacy of income.
I would suggest that anyone looking to offshore only does business with personal business partners that you know in real life and can trace that person and their family or holdings if things go sour.
A classic bait and switch can have successful offshore operations for up to 3 years, then when there is enough money in the accounts, all money disappears.

Please note I do not recommend nor resell offshore services at this time, though I have registered companies internationally for personal use.

if you do go offshore, treat this as any other investment, with diversification being key.

Americans, be aware of this

United States persons are required to file an FBAR if:

1. the United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and
2. the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-FBAR

Thats why its easier for americans to just do the USVI or Puerto Rico route since they aren't considered foreign by the IRS, but they have special tax exemptions and breaks.

 

[TheHatIsGray]

Thats why its easier for americans to just do the USVI or Puerto Rico route since they aren't considered foreign by the IRS, but they have special tax exemptions and breaks.

Many approach offshore as a hidey-hole that they do not plan to declare. Having an offshore account affects chance of bail, as offshore holdings are seen as a flight risk factor by the courts.

 

[wisdomkid]

We've known about Putin for years.. there was a BBC documentary on him and his wealth.

He's stolen about $200 billion from the people of Russia

He's Putin and the people of Russia aren't complaining

 

[jehnubis]

Does anyone here have a shell doing adsense revenue? Can you explain to me on the process.

 

[stallion45d]

 

[The Scarlet Pimp]

watch this documentary for info on the islands and taxes,
https://www.youtube.com/watch?v=QvVl1edyjVQ

 

[Eternal1912]

Soros and Rothschild Family are behind everything that happens.

 

[jazzc]

USA is the only country that has not signed the "automatic information exchange" (google it ) that will start working in 2017.

That's not accurate. USA is the only of the big countries that hasn't. That said, your assessment is correct, they will not sign AEOI, at least not as it is now.

 

[nycdude]

I just got an email from the Wordfence Wordpress plugin guys saying that the breach of info could have been caused by an outdated Revolution Slider Plugin:

The news this week has been filled with the so called "Panama Papers" which have resulted in the resignation of at least one world leader, the Icelandic Prime Minister, and have caused controversy to surround others including Russian President Putin and British prime minister Cameron.


The data involved was taken from a Panamanian Law Firm called Mossack Fonseca (MF) by a hacker and reveals secret financial structures used by the powerful and wealthy to hide their assets around the world.


We performed an analysis of MF's network and it seems that the breach may have been caused by an outdated WordPress plugin: Revolution Slider. It turns out that not updating your WordPress plugins may result in the fall of world leaders and the largest data breach to journalists in history.


Full details on our blog...


Regards,


Mark Maunder
Wordfence Founder & CEO

 

[The Scarlet Pimp]

i can confirm that vulnerability. my server logs show that someone tried to access "revslider" on my web site about a month ago:

"/wp-content/plugins/revslider/js/rev_admin.js"

i don't run it so they got a 404 page.

 

[immaletyoufinish]

Funny thing is there was an article by a security research firm that analyzed the companies wordpress site and found a vulnerable wordpress plugin allowed would have allowed an attacker to get a shell on the Web server and the Web server was wasn't properly firewalled, so they would have been able to pivot into the corporate network and access things.


So... you mean to tell me you're a dodgy law firm doing dodgy shit for decades and you have just about the worst security practices ever and then a wordpress plugin takes down the prime minister of iceland because of that. Lmao. Best thing about it in my opinion.

 

[forex2u]

this is a biased paperwork

 

[Akuchi]

Storing offshore makes a bunch of sense. If I was a business owner, I would probably take advantage of all the tax loopholes as well. It makes sense to pay no taxes and screw over everyone else. Heh :S

 

[Capo Dei Capi]

So if true, since the information was gained illegally via hacking wouldn't that rule out using it in court in some for some of the people named ?

 

[jehnubis]

Elaborate more on this. Delaware and Nevada is the best place to open a company but how about the bank account that all this money will go into? No banks in the U.S will accept a large sum of cash without reporting (identification etc) all that info to the IRS. Even if you found a bank that would accept your millions without I.D or identification how can you trust these banks with your money?

 

[Capo Dei Capi]

Elaborate more on this. Delaware and Nevada is the best place to open a company but how about the bank account that all this money will go into? No banks in the U.S will accept a large sum of cash without reporting (identification etc) all that info to the IRS. Even if you found a bank that would accept your millions without I.D or identification how can you trust these banks with your money?

It doesn't matter if the IRS knows about it, if it is not money that is taxable or already has been taxed.