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Tax Havens and Offshore Banking - Anyone Doing It?

Discussion in 'Business & Tax Advice' started by cupid_stunt, Apr 24, 2009.

  1. cupid_stunt

    cupid_stunt Junior Member

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    Is there anyone here earning over a few hundred k and year and managing to pay no (or very little tax)?

    I've been researching some ideas and trying to find a legal way around it and although there are a few many involve getting residency in another country first.

    With a regular job this would be nearly always illegal, but because IM is different from the rest, it looks as if there are some possibilities.

    Now before you flame me keep in mind Tax Avoidance is legal, tax evasion however is illegal. (there's a subtle difference)

    http://en.wikipedia.org/wiki/Tax_avoidance_and_tax_evasion

    Has anyone based their LLC offshore where tax is much lower?
    http://en.wikipedia.org/wiki/Tax_haven#Examples

    Any suggestions would be much appreciated.
     
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  2. cupid_stunt

    cupid_stunt Junior Member

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    Thanks for the advice, and fortunately no, I'm not based in USA, I live in New Zealand so this may make it easier.

    That sounds like a good idea, but with the current financial crisis in Dubai i ponder the strength and consistency of their currency. However I wouldn't be surprised if some banked based in Dubai work with foregn currencies (i.e. banking in Dubai with USA Dollars)

    Cheers
     
  3. gimme4free

    gimme4free Executive VIP Jr. VIP Premium Member

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    How is money transferred/withdrawn from a switz account without then being questioned by the taxman if you get an audit?
    Posted via Mobile Device
     
  4. photoads

    photoads Regular Member

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    You'd have a visa card I would assume, obviously if you transfer money into your account you would declare it.