Many thanks again for your advice, i’m non dom resident in︋ malta, which jurisdiction you could suggest me to take second residence needed to open bank︌ account? I prefer eu country, tenerife could be ok? Maybe also albania i saw a︍ lot of cheaper apartments there...
How to Avoid CRS - 3 Options as of 2019 - 2025
- Thread starter Tax Cow
- Start date
- Status
Then look outside the EU. They are moving towards more integration, harmonized tax base (not yet tax rates), universal EU Tax ID. It can happen within as little as 5 years. Needless to say, information exchange between the EU member states is pretty good today. I'd not be too surprised if all EU member states get forced to use one Tax Filing platform instead of their national systems. This could mean your Maltese tax︀ returns and foreign property tax returns of another member state end up in the same︁ place - visible 24/7 to tax authorities of all EU member states.
Where to get︂ your proxy residency?
If you want to seamlessly bank within the socialist EU, then skip︃ condition-less 0% PIT/CIT jurisdictions - the tax havens of the tax havens. Instead, pick a︄ high tax non-EU country like Mexico. As a Mexican (proxy) resident, you're perceived as a︅ fellow comrade - hard working, tax paying, nature-loving fellow (especially in Spain), not a corrupt︆ capitalist who leaks diesel and plastic particles while breathing.
Check for alternative jurisdictions at GlobalPropertyGuide.︇
Where to get︂ your proxy residency?
If you want to seamlessly bank within the socialist EU, then skip︃ condition-less 0% PIT/CIT jurisdictions - the tax havens of the tax havens. Instead, pick a︄ high tax non-EU country like Mexico. As a Mexican (proxy) resident, you're perceived as a︅ fellow comrade - hard working, tax paying, nature-loving fellow (especially in Spain), not a corrupt︆ capitalist who leaks diesel and plastic particles while breathing.
Check for alternative jurisdictions at GlobalPropertyGuide.︇
For best results, lowest risk, don't bank in EU at all.
You can do something like this:
1. Italian (presumably) citizenship
2. Permanent resident in Malta as non-dom
3. Proxy resident in Mexico
4. Hide your funds in the Carribean as "resident of Mexico"
You can do something like this:
1. Italian (presumably) citizenship
2. Permanent resident in Malta as non-dom
3. Proxy resident in Mexico
4. Hide your funds in the Carribean as "resident of Mexico"
As a non-resident who does not live or work in the country, only your Mexican property and related income is subject to declaration and taxation in Mexico. Your EU companies, other income streams are not subject to declaration or tax.
The Mexican ID or passport would not make you a tax resident either, but you would have to become a tax resident for some time to qualify for either document. In your case, both documents are optional︀ because you can open bank accounts using your Mexican utility bill and Italian passport. Your︁ Italian passport does not reveal any connection to your true country of tax residence so︂ it's safe to use it everywhere.
The Mexican ID or passport would not make you a tax resident either, but you would have to become a tax resident for some time to qualify for either document. In your case, both documents are optional︀ because you can open bank accounts using your Mexican utility bill and Italian passport. Your︁ Italian passport does not reveal any connection to your true country of tax residence so︂ it's safe to use it everywhere.
Noted! And︁ if i will open bank account with italian passport and for example mexican utility of︂ my real estate where the bank will sent the informations to italy or to mexico?︃ And if the bank ask me for more proofs of residence in mexico, like mexican︄ residence ID card, as i will register in mexico as non resident the mexican Immigration︅ office will get it back?
So i could do︉ in this way, buy real estate in mexico, or EU country (for you it s︊ better extra eu) i ask for residence or i just need utility bills and the︋ request for residence is optional?
I m asking it because i’m opening with cim bank︌ and they are ascking me residence card for proof of residence and certificate of AIRE︍ (italian people resident abroad) ...
I m asking it because i’m opening with cim bank︌ and they are ascking me residence card for proof of residence and certificate of AIRE︍ (italian people resident abroad) ...
Mexican Utility bill + Italian passport is assumed Mexican resident for the purpose of CRS. Citizenship is out of scope. The CRS report goes to Mexico, and they treat you as non-resident. Banks send double or false reports all the time. If the Mexican taxmen look into it in depth, and suspect you're up to some tax games, they can forward the report to Italy through TIEA. Also Italy treats you as non-resident. Quite a few links in between the bank and the jurisdiction that has a legitimate tax claim on your world-wide revenue.
Banks are required to ask for "Proof of Address". Utility bill,︀ voting card, or similar. The problem is that Proof of Address proves nothing relevant. Its︁ a worthless compliance burden on banks yet some commies think street address is relevant. It︂ only causes problems to students abroad, cross-border commuters who find it difficult to get a︃ bank account, yet it does nothing at all to crooked tax evaders 🙂
---
95% of︄ banks ask for Passport, Utility Bill and Phone Number. Don't go to CIM which is︅ known as the bank of offshore companies, especially if they ask for more documentation such︆ as the AIRE card. And if you're lawfully registered in Italy as non-resident, why are︇ you asking me this question - you should already have the AIRE? As "resident of︈ Mexico" but in substance just a real estate investor, open an account with BBVA or︉ other high street bank in Spain.
Banks are required to ask for "Proof of Address". Utility bill,︀ voting card, or similar. The problem is that Proof of Address proves nothing relevant. Its︁ a worthless compliance burden on banks yet some commies think street address is relevant. It︂ only causes problems to students abroad, cross-border commuters who find it difficult to get a︃ bank account, yet it does nothing at all to crooked tax evaders 🙂
---
95% of︄ banks ask for Passport, Utility Bill and Phone Number. Don't go to CIM which is︅ known as the bank of offshore companies, especially if they ask for more documentation such︆ as the AIRE card. And if you're lawfully registered in Italy as non-resident, why are︇ you asking me this question - you should already have the AIRE? As "resident of︈ Mexico" but in substance just a real estate investor, open an account with BBVA or︉ other high street bank in Spain.
All clear thanks, so bank do︀ CRS to Mexico, Mexico could be suspected of tax games and report TIEA to Italy︁ where i’m not resident because i’m resident in malta and i’m registered as italian resident︂ abroad and italy know that i’m resident in Malta... in this case italy could send︃ CRS to Malta about bank account?
The information must flow from Carribean bank to Mexico, from Mexico to Italy, and then from Italy to Malta. And then Malta wants to know how much and where you made money in current and previous fiscal years so it must cooperate with the Carribean nation which in turn communicates to its private bank.
CRS only covers the︀ first part, information exchange from the Caribbean bank to tax authorities of Mexico. The rest︁ is out of scope of automatic information exchange and any further information flows require suspicion︂ of crime.
CRS and TIEAs will not unravel this. You must butcher a few babies,︃ smuggle drugs, or deposit at least 10M to spark interest for an in-depth international investigation︄ of that scale.
Of course, if you can't tolerate any risk, declare and pay according︅ to your local laws.
CRS only covers the︀ first part, information exchange from the Caribbean bank to tax authorities of Mexico. The rest︁ is out of scope of automatic information exchange and any further information flows require suspicion︂ of crime.
CRS and TIEAs will not unravel this. You must butcher a few babies,︃ smuggle drugs, or deposit at least 10M to spark interest for an in-depth international investigation︄ of that scale.
Of course, if you can't tolerate any risk, declare and pay according︅ to your local laws.
Last piece of advice for you.
Don't own luxury cars or villas in your name while claiming to make peanuts in income. This is how 90%+ tax evaders get involved in an investigation. The tax authorities don't need to unravel your structure piece by piece - they can just take the position that you underdeclared your income or wealth abroad because the numbers on your tax returns do not add up. Then the burden of proof is on you.
Don't own luxury cars or villas in your name while claiming to make peanuts in income. This is how 90%+ tax evaders get involved in an investigation. The tax authorities don't need to unravel your structure piece by piece - they can just take the position that you underdeclared your income or wealth abroad because the numbers on your tax returns do not add up. Then the burden of proof is on you.
Okk noted in my case all taxes are paid to Malta, and my dividend taxed at 35% with refund of 30% are clean︀ funds and i can get dividend in my personal bank without more taxes after the︁ 5%, as my accountant told me...
As i wrote i just need to understand if︂ at today and in the near future there is a way to have a privacy︃ for bank accounts and you have explained all very well many thanks!
As i wrote i just need to understand if︂ at today and in the near future there is a way to have a privacy︃ for bank accounts and you have explained all very well many thanks!
Why - if Dubai is not on the black list in the jurisdiction where your bank is? Just be prepared to answer a question or two for AML checks. You can definitely send payments, but they might not be as convenient and reliable due to higher risk of getting caught in the net for further due diligence.
Since Dubai is not a socialist regime, it's not my first pick as a banking jurisdiction if you want to do business with the︀ EU.
Since Dubai is not a socialist regime, it's not my first pick as a banking jurisdiction if you want to do business with the︀ EU.
@xzars about second proxy residence with real estate investment i can use it also to open companies? Because i would︀ open belize company + belize or other Caribbean country bank account...
Just to have same︁ personal details on company documents as utility bill when i ll go to open bank︂ accounts
Just to have same︁ personal details on company documents as utility bill when i ll go to open bank︂ accounts
Absolutely. You should deceive your offshore agent as well as your bank. No offshore agent will risk imprisonment or fines to protect your data. Some rogue agents may even sell your data to government officials after you end your relationship. Especially if you do not pay company liquidation fees;︀ if you behave bad as a client.
Those poor Danes who got sold out at︁ Panama Papers scandal could have saved millions by managing their offshore affairs through non-Denmark IDs︂ and proxy residency. The smartest ones got away and are offshoring till today 🙂
Those poor Danes who got sold out at︁ Panama Papers scandal could have saved millions by managing their offshore affairs through non-Denmark IDs︂ and proxy residency. The smartest ones got away and are offshoring till today 🙂
Simplified version of #3 .... set up maildrop address ... change the address you have on file with any Financial Insitution to maildrop and wait for next statement.
Take Passport and FI statement to desired bank and open account ... only works with those FI that do not insist on utility bill, but will accept FI statement (some require 2 statements)
Take Passport and FI statement to desired bank and open account ... only works with those FI that do not insist on utility bill, but will accept FI statement (some require 2 statements)
- Status