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 ?
@victoriaorsson3037 Жыл бұрын
Spit it out already. 6 minutes in still nothing to do with the title of this video.
@suhasop49192 жыл бұрын
The IRS is watching
@Gurci28 Жыл бұрын
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]
@Gurci28 Жыл бұрын
From the viewpoint of an American, "offshore" is anywhere outside U.S. jurisdiction. 3:33
@Gurci28 Жыл бұрын
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]
@Gurci28 Жыл бұрын
Offshore banking is used most by businesses that operate internationally. 5:35
@jamesbrown15092 жыл бұрын
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
@NexusBanks2 жыл бұрын
Exactly… totally useless and he is just dancing around the subject.
@Bambotb5 ай бұрын
@@NexusBanks he wants you as a client
@joenemeth96062 ай бұрын
If he told you FREE, you wouldn't PAY him. Duh.
@ViceCoin8 ай бұрын
No US income, no US taxes.
@Und0ne13 күн бұрын
Usa is the only country that taxes expats unless you renounce citizenship you still need to pay tax
@dellrugby3 жыл бұрын
I am an American working abroad. FACTA makes hiding income and assets impossible.
@FJF1192 жыл бұрын
Work the problem giving consideration renouncing your US citizenship ; i e , the U S A is going to hell .
@Trancer006 Жыл бұрын
So they actually ask for your SSN and stuff?
@ViceCoin8 ай бұрын
How do wealthy Americans avoid taxes?
@jerinjoseph4364 Жыл бұрын
If we do trading with an offshore broker, what are the things we should be concerned about?
@VERTICALWisdom4 жыл бұрын
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.
@MichaelRosmer4 жыл бұрын
Didn't you get it around 4 minutes?
@jackosc43 жыл бұрын
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?
@OffshoreCitizen3 жыл бұрын
Yes they do
@jackosc43 жыл бұрын
@@OffshoreCitizen is that the same if my money is held in an offshore trading broker? I.e profits from day trading
@MichaelRosmer3 жыл бұрын
@@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.
@famousproductions7582 жыл бұрын
@@MichaelRosmer Thank god for dual citizenship lol
@Akeem_768 Жыл бұрын
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
@ivohahn4 ай бұрын
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?
@Gorilladome46649 ай бұрын
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!!!!
@flyinghigh11052 жыл бұрын
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?
@danielgarofaloo4 ай бұрын
I didn't understand anything
@tatahustvattfastigetstvatt24953 жыл бұрын
Regards From Serbia man.
@OffshoreCitizen3 жыл бұрын
Regards to Serbia 😄 How did you like the video?
@darrenmclaughlin30283 жыл бұрын
Wainwright’s estates Felixstowe ip11 Hamilton road doesn’t pay there taxes and has off shore accounts havens hidden
@MichaelRosmer3 жыл бұрын
How do you know?
@darrenmclaughlin30283 жыл бұрын
@@MichaelRosmer I know some 1 who worked there but keep my name out of it
@jarryjallow71003 жыл бұрын
Hello I have a question. would it be safe to pay or deposit money online for a transfer of offshore account to become possible.
@MichaelRosmer3 жыл бұрын
Sure, just depends where you're transferring and making sure you comply with all the regulation
@liliyasfantasys2 жыл бұрын
how long bank keep you from accessing the money if you been suspended?
@peterjohnson55862 жыл бұрын
Is it hard to open a bank account in Malta as an EU citizen/Malta resident?