Offshore Banking: Is It REALLY Illegal?

[maiden]

Yeah I agree that US government is very strict. That's why we need this offshore‌ things for our business.

 

[employme]

For US citizens it seems to be illegal unless you inform the IRS about it!‌

 

[erzascarlet]

If you use a legal information and never do illegal action in your account. there‌ will be no problem.

 

[erzascarlet]

But the fact there are a lot of people who‍ use offshore banking for their business and haven't been caught doing illegal things.

 

[johnskywalker]

I just‍ think that US wanted companies to be built in their own land not in other⁠ countries because they can't get a share from whatever country these offshore accounts are living⁤ on.

Its just very ironic because most of their companies manufacture in China because of⁣ the cheaper labor cost LOL

 

[erzascarlet]

I'm agree with⁤ that statement. They're so greedy that's why they try to accused offshore company.

 

[icecold]

If offshore banking were illegal even more people would be in prison right now!

 

[Anton]

Hahaha. I don't think they could even find these offshore bank‍ owners. Because of the 99 to 100% privacy, they won't even know who is the⁠ owner of these accounts. Anyway its ridiculous that some people would even think its illegal.⁤

 

[burden]

In Romania, Latvia and Ukraine no one will ever ask you if you are doing‌ business outside of the country because they think their people are to stupid to do‍ that. If someone from the tax office is asking and do trouble you put €300⁠ on the table and can go and proceed as you like. No problems to open⁤ offshore bank accounts there!

 

[deadpool]

I still think going legally is⁣ safe for long term. Under the table deals comes with a disclaimer.

 

[BelizeFinancial]

If this is somehow illegal to open and hold an offshore account with any offshore‌ bank than I'm doing something illegal. 😉

 

[myshufflemix]

Why do you think it is illegal. Nothing illegal in owning an offshore account. The‌ problem starts when you use it and don't pay tax 😀

 

[sigurdto]

When you say it's not illegal to open an offshore account you didn't mentioned that‌ it may be illegal to use the account without to inform your tax office or‍ do you?

 

[sigurdto]

This is my point. you‍ need to inform you tax office and report your account to them to avoid troubles⁠ 😉

 

[Jack Dui]

Interesting!!! Actually it's happening not only⁣ in Romania and Ukraine but also other parts of the world.

 

[RamsayB]

LOL IRS is the biggest pain in the butt for‍ US citizens. They won't let their citizens go until they pay their due taxes.

 

[crispgo]

For someone living in the 3rd world country in Europe it is not a problem‌ if it is illegal or not. The authorities here give a s**t about it and‍ we can do what we want. Tax here is flat €1000 regardless how much you⁠ do in profits as long as you live here. So I need to make money⁤ and I need a great and stable offshore account with debit card. Where can I⁣ get it please?

 

[Spinat]

No it is not illegal but if you hide the money from the tax office‌ it's going to be illegal and you are better preparing a good strategy to keep‍ everything legal.

 

[infotrader]

Thanks for the useful guide. Is there any way to ensure being entirely legal? I‌ would assume, it would not favor other agendas. I am wondering, is there a way,‍ I could flaunt my offshore accounts openly.

 

[hungryit]

Same here. Of course you can not tell⁠ every Joe that you have an offshore Company but today it doesn' matter that mutch.⁤