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Offshore Bank Account - Legal??

Discussion in 'Black Hat SEO' started by agag2, Feb 25, 2011.

  1. agag2

    agag2 Supreme Member

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    Hi

    I want to open a clickbank account and link it to a offshore bank account (don't want to link it to my own bank account)

    Question is - is there ANY legal issues w an offshore bank account?

    Also we can I buy one for cheap?

    Thanks
     
  2. agag2

    agag2 Supreme Member

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    No one??
     
  3. ivictus

    ivictus Regular Member

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    Off shore from where? The US is considered off shore if you are in Europe. Assuming you are in the US you will have some extra paperwork to file when you do your taxes. That's about it I believe.
     
  4. Steeky

    Steeky Regular Member

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    You should ask this question at talkgold.com offshore section and there are some other sites also
     
  5. whiteninja

    whiteninja Regular Member

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    You wouldn't run into any problems unless you don't report you have the off shore account on your taxes, as this is required by law. :china:
     
  6. prima

    prima Registered Member

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    Offshore account is NOT Illegal !
    If you are from US and have more than $10K deposit in offshore accounts,you have to report in your tax returns/IRS
     
  7. islandcoli

    islandcoli Regular Member

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    If you are doing this to avoid taxes, then it is illegal.... However there are still some countries that won't release your info to the U.S. now that the Caymans caved in. I think Turks and Caicos is still holding strong. However there is the issue of getting the money from there to here (assuming you are U.S.) Even if you physically visit your bank in the Turks and intend to transport cash back with you, you can only (safely) bring back 9,999 dollars without having to declare it. Even if you do this successfully a few times a year and have an extra 30k/year, eventually the IRS will notice eratic spendings i.e "Where'd that speedboat come from?".

    Good Luck
     
  8. Chronos

    Chronos Junior Member

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    It is not illegal to open offshores bank accounts. Infact, when you have large sums of cash, it's sort of stupid if you dont.

    It is, however, illegal to not pay taxes and report any income (direct deposits - expenses) to that account.
     
  9. DerDer

    DerDer Junior Member

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    You are correct, but i would like to add, that he could buy assets at the foreign country (jewelry and stuff) and bring them home.
     
  10. oxonbeef

    oxonbeef BANNED BANNED

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    Let me get this clear?
    You want to open a clickbank account and link it to an offshore account?
    Of course you can do that. you will only be liable for the tax on your income that
    you bring into your country.
    however are you sure your clickbank earnings are going to outweigh the cost of
    having an offshore account and a good accountant against having a free onshore account and paying tax?
     
  11. s0meguy

    s0meguy Newbie

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    EDIT: nevermind - please delete.
     
  12. oxonbeef

    oxonbeef BANNED BANNED

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    As long as you don't bring any of that money into your own domicile.
    So basically you need to move there.
     
  13. cookie48

    cookie48 Jr. VIP Jr. VIP Premium Member

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    Its legal as long as you pay taxes.
     
  14. sqhunter

    sqhunter Regular Member

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    It is legal for US citizen to create offshore company, it is legal aswell to open a bank account on behalf of that company, your name won't appear on the A/c but your company name. I am not sure if you have to disclose offshore A/c to IRS or declare the income and have it taxed.. (What if you dont generate your income in the US, will they still want tax??? )

    The offshore register won't likely give your real name out, unless youre a terrorist.

    Seychelles is a good place for both of this and the company is like 800$ + A/c i am not sure how much + yearly maintainence payment is low aswell, like 200$ or so. I am looking into this myself any time now.
     
  15. oxonbeef

    oxonbeef BANNED BANNED

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    Offshore Account Application Form.
    Name = Joe Bloggs
    Occupation = Terrorist

    Ps, Would you bank you liability on "likely"?

    I love BHW financial advisors.
     
  16. RandomPhantom

    RandomPhantom Junior Member

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    I dont know were you are located but I'm sure it's legal to have a offshore account but it's not legal to avoid taxes...
    That's how it works in my country (inside EU).
     
    • Thanks Thanks x 1
    Last edited: Feb 26, 2011
  17. sqhunter

    sqhunter Regular Member

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    There are many offshore locations and all have different treaties and disclosure policys with other countries, you gotta do your homework and check in what case they will give your info out, there is no yes or no answer.


    Yeah right, so there is no atm you get from your offshore A/c and just hide it under your pillow? are you on bhw forums?
     
    Last edited: Feb 26, 2011
  18. CrabbyCommando

    CrabbyCommando Registered Member

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    You may want to look into Isle of Man for a corporate account if you do not feel comfortable with anything in the Carribbean.
     
  19. Nerevar

    Nerevar Jr. VIP Jr. VIP

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    You can have an account anywhere you want, as long as you report it and it's balance to the IRS (this is for EU).
     
  20. neu009

    neu009 Jr. VIP Jr. VIP Premium Member

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    well we all know its legal to have the account as long as you report it ...
    so any countries that do not disclose any information ? and have banks that issue cc so u can get ur money at an atm ?