Here is a situation that does work. Sell your house, put the money into an HSBC Xpat offshore account based in Jersey and through there invest your money into income equity funds based in Luxembourg. There will be no tax payable on the dividends generated. Then go and live in the Philippines where there is also no tax on global income earned outside the Philippines. So you can enjoy your income untaxed by any wasteful government. Sounds good right ?
There is nothing criminal about opening an offshore bank account. However, it is a crime to use an offshore account to avoid paying taxes or to attempt to shield funds from the U.S. government. Offshore banking should not be used for those purposes. [Alper Law]
Offshore bank accounts are still subject to IRS taxation and anyone with an offshore account should be careful to stay on the right side of US tax law. [SmartAsset]
Hi Michael, I have the following question: I am based in Malaysia (MM2H retirement permit). I have a controlling stake in an offshore company registered in the Seychelles, engaged in global consulting (except the Seychelles and except Malaysia). Our clients are based in Europe, Middle East, Africa and North America with operations in Asia-Pacific. Am I liable to pay taxes in Malaysia, or in the Seychelles for my Director’s income or Dividend payments?
Good topic for sure but at 3:38 you still not addressed the topic title - then on to remittance based might do this or that.... this is a topic your potential "Western" clients have interest in. Just hoped you might get to a response on the topic.
Bro this info was totally useless....where are your solutions or ideas for finding ways to lower your annual taxes or even some tax tips. Sounds like this video was just to make fun of other people's information and then you gave none. Thanks
Do offshore banks have a duty via law or regulation to tell your county of tax residence you have money there? And/or is it an honesty based system where you have to put down on your tax return all your foreign income?
@@jackosc4 yes, most financial institutions worldwide participate in what's called the Common Reporting Standard and report annually to your country of residence about your accounts and balances.
Michael, or anyone quick question....anyone have experience in moving a stock portfolio from say Canada, North America....offshore to an overseas broker, 'in kind' without having to liquidate your stocks into cash, wire...re purchase etc....I can do this locally within Canada between the different brokers, but international? Thanx!!!!
Here is a situation that does work. Sell your house, put the money into an HSBC Xpat offshore account based in Jersey and through there invest your money into income equity funds based in Luxembourg. There will be no tax payable on the dividends generated. Then go and live in the Philippines where there is also no tax on global income earned outside the Philippines. So you can enjoy your income untaxed by any wasteful government. Sounds good right ?
Spit it out already. 6 minutes in still nothing to do with the title of this video.
The IRS is watching
There is nothing criminal about opening an offshore bank account. However, it is a crime to use an offshore account to avoid paying taxes or to attempt to shield funds from the U.S. government. Offshore banking should not be used for those purposes. [Alper Law]
From the viewpoint of an American, "offshore" is anywhere outside U.S. jurisdiction. 3:33
Offshore bank accounts are still subject to IRS taxation and anyone with an offshore account should be careful to stay on the right side of US tax law. [SmartAsset]
Offshore banking is used most by businesses that operate internationally. 5:35
How do wealthy Americans avoid taxes?
Hi Michael, I have the following question:
I am based in Malaysia (MM2H retirement permit). I have a controlling stake in an offshore company registered in the Seychelles, engaged in global consulting (except the Seychelles and except Malaysia). Our clients are based in Europe, Middle East, Africa and North America with operations in Asia-Pacific. Am I liable to pay taxes in Malaysia, or in the Seychelles for my Director’s income or Dividend payments?
Good topic for sure but at 3:38 you still not addressed the topic title - then on to remittance based might do this or that.... this is a topic your potential "Western" clients have interest in. Just hoped you might get to a response on the topic.
Didn't you get it around 4 minutes?
Bro this info was totally useless....where are your solutions or ideas for finding ways to lower your annual taxes or even some tax tips. Sounds like this video was just to make fun of other people's information and then you gave none. Thanks
Exactly… totally useless and he is just dancing around the subject.
@@NexusBanks he wants you as a client
If he told you FREE, you wouldn't PAY him. Duh.
If we do trading with an offshore broker, what are the things we should be concerned about?
I am an American working abroad. FACTA makes hiding income and assets impossible.
Work the problem giving consideration renouncing your US citizenship ; i e , the U S A is going to hell .
So they actually ask for your SSN and stuff?
Do offshore banks have a duty via law or regulation to tell your county of tax residence you have money there? And/or is it an honesty based system where you have to put down on your tax return all your foreign income?
Yes they do
@@OffshoreCitizen is that the same if my money is held in an offshore trading broker? I.e profits from day trading
@@jackosc4 yes, most financial institutions worldwide participate in what's called the Common Reporting Standard and report annually to your country of residence about your accounts and balances.
@@MichaelRosmer Thank god for dual citizenship lol
If you're american they make you sign FACTA forms, if you're from a 3rd world country & bank in the US, banks don't care to report
No US income, no US taxes.
I am a U.K. tax resident, but non-dom. so I assume I can receive my foreign income to my Jersey offshore account legally?
Michael, or anyone quick question....anyone have experience in moving a stock portfolio from say Canada, North America....offshore to an overseas broker, 'in kind' without having to liquidate your stocks into cash, wire...re purchase etc....I can do this locally within Canada between the different brokers, but international? Thanx!!!!
I didn't understand anything
how long bank keep you from accessing the money if you been suspended?
Regards From Serbia man.
Regards to Serbia 😄
How did you like the video?
Hello I have a question. would it be safe to pay or deposit money online for a transfer of offshore account to become possible.
Sure, just depends where you're transferring and making sure you comply with all the regulation
Wainwright’s estates Felixstowe ip11 Hamilton road doesn’t pay there taxes and has off shore accounts havens hidden
How do you know?
@@MichaelRosmer I know some 1 who worked there but keep my name out of it
Is it hard to open a bank account in Malta as an EU citizen/Malta resident?
Extremely
Easy residency by easy way for indians
👍
This didn’t age well lol Pandora papers
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