on a slightly side note, does anyone actually have an offshore account in cayman/bahamas or bermuda? i am considering opening a trading account somewhere there, probably cayman, and actually trading that fund. Later on in a few years actually moving there to live permananently (from Australia), where i would be claiming the money. Does anyone have any experience in having an offshore account (obviously legally)?
Quote from Bob111: the way you see it is the same way how irs and US government see it.right now everyone,who have bank account outside of US is a criminal. Somehow, I thought you would have no clue what I was talking about. You do not understand something, nbut you argue about it anyway. sorry for my english(not my native language) That was incredibly obvious. Either you did not grasp English or you have mental problems. You should not debate things you do not understand. I am putting you on ignore, before you make yourself look even more foolish
My partner and I owned a tiny Antigua offshore bank -- Industrial Discount Bank & Trust -- in the late 70's. BTW ... at that time banking charters were inexpensive -- cost us US $1,500. It was, is and probably always will be difficult to use any of the banks in the Caymans or almost any offshore bank, large or small, to trade. Or I should say trade profitably. These banks are setup as places for the wealthy to park money. The reality is none of what they do is fast enough or cheap enough to satisfy a trader. The commissions are high and, since they cater to long term investors and depositors, they are clueless about executing instantly. They will tell you that they are all electronic and the execute as fast as anyone but the reality is they do not.
Quote from Angrycat: For the rich, immigration is not a problem since they can buy citizenship in most countries. It is generally the rich who are offshoring their money in the first place. And you are seriously trivializing everything. People pour legally and illegally into the US by the millions from many others countries. Probably yours as well... And "most" other countries are either economically backward, repressed, have unstable governments, high % of poor, fiscal problems, high taxes or from many other problems. Where do you suggest they go intead? Africa? Arab countries? South America? Russia? Europe? China? North Korea? Caribbean or Central America? Pakistan or India? Iran For the rest of the schmucks in America and Europe - enjoy the power of your emboldened masters at the politburo. Politburo? That is amusing, Ivan As opposed to your country? The Eden of the world? You are not exactly a center of principled enlightenment, but rather a self-righteous anonymous internet poster, who has only demonstrated the ability to use a keyboard. Mind teling us what perfect, taxfree, enlightened country you are from? Somehow, some seem to have serious problems separating their opinions from reality. "for the rest of you schmucks in America and Europe" - you sound like a bored person sitting in the middle east, looking for a chance to say "death to the (fill in party)"
its interesting how you constantly show your mental reach you try harder than most to understand but you always fall short 100% of INCOME TAX goes to pay the debt to federal reserve which loans printed money to the government not paying income tax IS PATRIOTIC IN FACT you work 3 months out of the year ONLY FOR THE FED you young seemingly educated fool
My adopted country is the U.S. The problem is that the US is now on-track to having unstable governments, high % of poor, fiscal problems, high taxes or from many other problems. If the health bill passes, taxes for even people in the state of Florida will be higher than the top marginal tax rate in France. You can be a citizen of France, live in the Virgin Islands and pay the much lower VI taxes rather than the French tax because only the United States and North Korea tax citizens living abroad. Suddenly, if you're rich, own a business which is very mobile, or have a high income potential, your best bet is to give up your American citizenship (America no longer taxes income for 10 years after giving up citizenship). Offshoring money is a pain. If the U.S. wants more tax compliance, it should lower tax rates instead of raising them - that will make tax avoidance less profitable and investing in the U.S. more profitable. As countries that strong-arm their citizens have demonstrated time and again - this tactic only leads to poverty. For the rest of the schmucks in America and Europe - enjoy the power of your emboldened masters at the politburo. Politburo? That is amusing, Ivan As opposed to your country? The Eden of the world? You are not exactly a center of principled enlightenment, but rather a self-righteous anonymous internet poster, who has only demonstrated the ability to use a keyboard. Mind teling us what perfect, taxfree, enlightened country you are from?[/QUOTE] Somehow, some seem to have serious problems separating their opinions from reality. "for the rest of you schmucks in America and Europe" - you sound like a bored person sitting in the middle east, looking for a chance to say "death to the (fill in party)"[/b] [/B][/QUOTE] To someone as reasonable and civil as you? Why would I object to revealing information to such a joy as yourself. 35 years ago I immigrated to the United States from the Soviet Union. BTW, I'm pretty certain you're the only schmuck on this thread.