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Payment descriptions (and tags) are less significant. The only rule is that you're ready to prove that a payment is for what you say it is. A good idea is to use nonsense numbers and letters (contract references) so that you can always make up the story and the contract on the go. If you...

1. Inbound, outbound transactions matter. Both, the count and amounts. 2. Source, destination matters. Both, the bank and the country. 3. Timing of payments. a. If your payments are too frequent or suspiciously big: split between 2 or 3 banks. Re-use one set of legitimate contracts and...

For personal accounts only, to be more specific (my post above) Non-CRS Banks that open for exotic non-resident IBCs should be mentioned with great caution. Preferably in Mentor Group or via PM. Let's prolong their lifespan and follow the advice of @Martin Everson

Top #1 in this category is Citi (NA). Reputable bank and jurisdiction. Too big to fail. Good for deposits and transactions. Streamlined and capable compliance. No paranoia of non-U.S. persons. Keeps adapting and evolving, even after being fined many times. Before you commit, check if your...

@clemens Northen Cyprus is out of CRS but the jurisdiction lacks economic backbone to make it a safe deposit jurisdiction. Even less safe than Turkey or Cyprus. So what is this special territory useful for - international transactions? Too much slut aura for that. Smoke alarms will go off...

Great find. Yet mainland Turkey works for most Europeans. CRS activated but no MCAA. Stronger economic backbone. Less slut aura. Whereas incoming funds from NoCy would be a red flag for countless banks. In the EUEA, only Latvia and Norway recieve CRS AEOI reports from Turkey. Also @Walter...

10% wire tax + 1% fee. Moo! Crazy guy to pay this.

@Moulaga Here's a possible "fix" for until you're ready to move to a fully compliant solution: a. Stick with the Moroccan company for simplicity. b. Open up an offshore business account in a country which does not have active CRS AEOI relationship nor TIEA treaty with Morocco. Use that...

@Moulaga You've got FDAP income from affiliate business (commissions) and this will be subject to U.S. withholding of 30% unless a tax treaty reduces it to zero or a lower rate. Regardless of where you incorporate. With this in mind, where you incorporate does not matter unless the company is...

Start an onshore EMI or Fintech. Little or no hope of turning a profit doesn't stop Fintechs from being valued $50M+. With your skills and your background, it would be a waste to look for a regular job or working as a consultant, instead of starting your own business. Your business idea doesn't...

Moo Moo! 30% Or treaty rate on commissions. Commissions are FDAP income (read more on IRS webpage) which alongside ECI is taxed on distribution in the US. And Amazon is the withholding agent who gets their buttcheeks red if they fail to comply. Amazon also states all this in their affiliate...

Moo, yes, moo! Tax offices in the EU commonly jump on their own people for random 5 figure inflows which don't originate from relatives or known employers the subject works for. And even then, a cattle boy may reach out to enforce gift tax and scout for other milking opportunities. Banks...

@BlueMist From the tax authority where your offshore bank is based to your local tax authority. Never directly.

@CaptK Now that's a little different. Planning ahead and getting a source of funds document like that is a solid idea. Doesn't help with remaining undeclared, but helps with wealth import and deposit challenges in the EU further down the road. I was assuming your reference to account was a...

Exactly. Records are kept for god knows how long on LocalBitcoins. And your KYC is linked to your wallet. I wouldn't put my own ID nowhere near that fake p2p platform. Despite a higher markup, even BTC ATMs are a superior choice. If you got patience, visit a few ATMs every day and cash in/out...

@jermird LocalBitcoins leaves a nasty trace. Where you buy/sell?

@Marie Manila I suppose that's what you're basing your opinion on? Under: https://ec.europa.eu/taxation_customs/individuals/cash-controls_en - Not much to contest. All popular LT gold coins are higher than 90% in gold content and thus subject to Article 2 of 2018/1672 (Article 2 defines...

Isn't doable with regular coins or investment grade bullion. Legal Tender coins is probably the best tool for the problem you're trying to solve. It gives you plausible deniability and an excuse to not declare. Ex with LT: 1. Carry 399x of 1 oz LT gold coins of 25€ face value each. 2. You're...

Self certification is a guaranteed report destination. Until contested and started from a scratch. Indica adds a second, and possibly third report destination at bank's discretion. Could be some serious fun to block humping from 3 tax offices at the same time. Of course, the FIs couldn't care less.

Most interesting ideas from FATF, as usual. I'm not against it tbh. Unregulated underground exchanges with no KYC will get more liquidity. It's about time the crypto industry awarded those who risk their own wellbeing to offer true peer to peer trading experience. Not the fake p2p platforms...