I was talking about the italian scheme where one pay 100k euro a year flat fee and than don't need to pay taxes on their overseas income, nor even to declare their overseas assets and income. One doesn't enrol in such a scheme to live miserably, nor is supposed to. Otherwise I agree with you and share your impressions about the AEOI, while it makes confidentiality more complicated, it doesn't seem to be as bad as DW implies every other post, and it is not clear some of the signatory countries will ever play ball.
I said the same. You can do it, it's just illegal. The risk is yours. I'm not aware of any jurisdiction which has not signed up for the AEOI and where you can find decent, reputable fx brokers. Let me know if there is any, seriously, I'd be interested.
I know, you're the guy who hates the facts. Whenever I ask you why AEOI won't happen or why those countries which has signed up for the CRS won't exchange information about your bank and brokerage accounts automatically then you can't tell me a single reason. I told you numerous times. I wish you were right, but you're wrong. At least according to the big accounting firms, the banks I'm dealing with and roughly everyone else who is a tax advisor. It's almost funny that you don't believe the official OECD factsheet while people who had larger accounts went great lengths to either declare their income before it will get reported or to move it to US banks into some corporate structure. Let me know when you can explain me why those countries who signed up for the CRS won't exchange information because UBS, HSBC, Citi, DBS, OCBC, Bank of China, Standard Chartered, Santander and other banks I haven an account with highly disagree with you. Not to mention KPMG.
Needless to be cynical buddy. I wish you were right, don't you get it? Just share your knowledge because I'd really love to enjoy some financial privacy in this f*c*ed AEOI world.
@luisHK For instance afaik the only way to avoid the CRS in certain circumstances is by using a discretionary trust. I'm not really into that due to the fact that I'd lose certain degree of control and access to my money so I'd be really happy to find other ways to avoid the CRS. I mean preferably legal ways but the ones I heard about (secondary residency or even a secondary passport with a secondary residency) are more like gray solutions.
By the way here is an interesting article: https://www.streber.st/2017/03/aeoi-mitigation-avoid-aeoi-crs-fatca/
i like Streber and will read this later, have u checked his article about Lebanon ? quite interesting, although sanctions against hezbolla Don t help.
The article about Lebanon is three years old and was written before Lebanon has signed up for the AEOI after the Panama papers.
so no more numbered accounts then ? harsh world read it very recently and didn t notice Lebanon signed AEOI,nor checked if it has become even a tiny bit compliant will probably pop.in one of the lebanese private Bank offices next time i m in Dubai, still curious to ask them a few questions. But i Don t feel very concerned by aeoi to be fair, at least not for tax reasons.