Search results

They do collect those documents in the KYC procedure, I however haven't done mine since early 2019 and my account is still operational - might be a matter of time before they get to me in this specific bank though. Anyway I'm not a citizen of the USA so FACTA itself doesn't bother me. I've been...

I'm not really sure about that, any transfer I tried to send abroad from US has been subject to additional checks. Maybe I was just being unlucky. That'd work better, although look into balkan and smaller Eastern European countries for your incorporation. They are less likely to do a control...

Forcing countries to be transparent and actually enforcing it are two different things. All those lax countries can say they'll do something and sign whatever decree but as long as they don't enforce it nothing changes. In a cash based societies where no reporting is present you have no way of...

I agree with Sols, generally speaking you can't just be making transfers without any supporting documents. Your best bet is to incorporate in so onshore low tax jurisdiction which isn't look down upon by the EU and then move the money. Alternatively you need to be prepared to actually present...

It does not raise any red flags but just be sure to pay the renewal fee and do all the fillings in time or face comparatively high penalties.

It's not about ethnicity, race or religion. This is a forum about offshore world hence mainly business. Nobody here cares about who you are and where you come from, what is important is MONEY and whether it's safe somewhere or not. You may not like it but countries aka crime organisations are...

It's not a problem with the Russians, it's the problem with the money and banking regulations. EU and US don't like uncontrolled flow of Russian money and EMIs controlled by Russians will always be a target. Say you run an online business in a high-risk niche and only EMIs are willing to accept...

I'd lean away from the Dubai company and instead look into Fujairah Creative City or RAKEZ, the costs are much lower and if you aren't planning on having presence or doing business in the UAE it'll just be a better option for you. To the best of my knowledge: 1) Yes, I've never paid a dime...

You're most welcome Although I don't think such approach is entirely wrong I believe that these people think of the world in a wrong way. The law might state one thing but reality might be totally different and we see it in examples from each corner of the world. A side note and another example...

Based on what you're quoting it'd seem like the UAE participates in the CRS, while that might be true I'd say it's only in theory. I've had experiences with the tax office and strong prosecution with one of the EU countries UAE supposedly shares the information with and since 2007 till now they...

People really confuse this fact. Theoretically the UAE signed CRS and when you google it or visit wiki page it'll say the UAE is amongst the CRS countries although when you read the MOF document, ever since it says "The UAE Competent Authority shall not exchange information under the CRS until...

I think your idea of moving money is pretty good, there shouldn't be any issues really. Unless you're involved in some illegal activities you won't get in trouble for that.

You can just send a transfer titled "salary payment for X period", usually that's all. Just in case you can draft a contract signed by whoever stamped by the offshore company and presented to the authorities if asked

Honestly I've kept money in the UAE for the past decade and has never had any problems, in EU my assets have been frozen a couple of times now just because I traded with clients subject to investigations and sometimes it took years to appeal the decisions

If I'm not mistaken the reporting requirements in the UAE are just for a couple of ESR, yours included which would be the intellectual property rights. Instead of looking for a complete new set up you can still use the RAK company but to charge consulting fees instead of licensing and if you...

UAE would be your best bet. It shouldn't be as much as 10k, it's more of 3-5k really

Offshore companies do provide you with privacy but in a different way. If you do legitimate business but want to save on taxes you create offshore structures that'll make it possible and you own them yourself, could be for a long period of time and they hold your wealth, could be properties...

Not really. Say you purchase your LLC using some online provider, they offer you paid nominee service, you never meet the nominees or even know who those people are, the provider doesn't do a sufficient KYC procedure and just asks you for cold documents such as scan of your ID and copy of your...

The problem is even if you know the identity of nominees you don't really know who the real owner is. Most companies these days are easily created fully online and KYC procedures as well as identity verification aren't too hard to bypass. If you know your enterprise will be location independent...

I'm just saying, even if he did nothing wrong that wouldn't save him from Polish authorities. I did nothing wrong and had an active case there for a few years spending extraordinary sum on lawyers just because a client of mine did VAT fraud and sent all money offshore so automatically they went...