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offshore bank

Discussion in 'Business & Tax Advice' started by casperwww, Jun 21, 2016.

  1. casperwww

    casperwww BANNED BANNED

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    Hello,

    is offshore bank account get taxed?

    mean if i have online business manage from my country and have personal offshore bank account in other country, i will pay tax in my country, but will this offshore bank account pay tax for the other country too?

    thanks
     
  2. subnetweb

    subnetweb BANNED BANNED

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    No you will not pay tax either in your country of countru where your offshore bank is settled.
     
  3. zhmurki

    zhmurki Jr. VIP Jr. VIP

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    it depends, where you are from/resident/citezen

    US citizen/resident must pay for any income they earned.

    Europe it depends where you from
     
  4. kekmaw

    kekmaw Junior Member

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    No in Europe it depends where you live. It's only the US who got citezenship based tax pretty much.
    If you wanna pay low tax move to Dubai for 0% (they have yearly fees though) or move to Malta or some place where tax earned that doesn't come in to the country won't get taxed. Of course you need to have your business in a tax heaven too. Malta/ + Holding Company is generally the best option in Europe. Depending on what kind of business you're in, you want to have your company in a country that has tax treaty with the US so they don't withhold money form you. Malta/Cyprus are great for this and pretty cheap to setup. Then you can have the Holding Company in Belize or somewhere, that doesn't matter if that is in Tax treaty with anything really.
     
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  5. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    No it will not if you live in Europe. For sure you will have to pay tax in your country!
     
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  6. casperwww

    casperwww BANNED BANNED

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    If i migrate to UAE will pay tax as iam from Egypt and both have agreement treat about this matter
     
  7. abhi007

    abhi007 Jr. VIP Jr. VIP

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    I am confused about the Dubai tax thingy....for migrant there are taxes involved right?