Has anyone used these guys:
http://www.equitydevelopers.com/how_it_works.asp


This post has been edited by unclejesse: May 22 2005, 06:31 PM

As a follow up,

it looks like opening an offshore company for the sole purpose of "investments or passive income" is not a good idea and you will still be subject to the same US tax laws.

I may just open an offshore bank for the purposes of assest protection and continue to report all of my earnings to the IRS.

Sound like a good idea?

Hi UncleJesse

Well iam not sure about that site that u have there but i have done alot of research into offshore stuff. I here the best way to protect ur income with maximum protection and privacy, the best advice is to establish an offshore corporation to own your offshore bank account.

From my findings these two places seem to be realiable (not scammers i dont think). Only thing is they are fairly expensive but could be worth it .

http://www.wsr.biz/

http://www.offshorecorporation.com

unclejesse,

Although you still need to pay some taxes, there can be some significant taxbreaks if you go offshore. Especially if you setup a Nevada corp to pull that money into the U.S.

I'm not quite sure of your financially situation, but setting this stuff up is expensive. It might be cheaper just to take the tax hit at this point...

I guess my biggest concern right now is what is legal/not-legal for US citizens to invest in?

For example, I know I can invest an any company registered with the SEC but what about my friends start up business? What about a HYIP located in BVI? Where does the US government draw the line for legal/not-legal investments?

http://www.sovereignsociety.com/

This site and their newsletter has been very helpful to me.

I just purchased thier complete Off-shore Package. I should be receiving my documents to sign within a few days.

I can let you know how it goes...........

invest4profit

It depends on how complicated you want to get, UncleJesse, but a good rule of thumb is to have an excellent tax attorney in your own jurisdiction (attorney, not accountant--you need the attorney/client privilege), and an excellent tax attorney in the jurisdiction(s) where you want to set up.

You do need somebody local to both, or all three places, if you go for a trust as well. I haven't seen any 'perfect' one-size-fits-all solutions out there. But if you did have an offshore corp, yes, it could invest in things that you as a citizen of America?, couldn't.

Thanks Marlena. That is the question I have been trying to answer. Can you or anyone point me in the right direction to the actual federal laws that prohibit certain types of investments?

Thanks!

It'd be both the SEC and whatever your state's counterpart to it is. Most 'over-the-table'? I guess you'd call them type of investments let you know which countries aren't allowed to invest with them. For a general start from the US point of view go here: http://www.sec.gov/ and especially http://www.sec.gov/answers.shtml

Happy reading--should keep you busy for a while.

This post has been edited by Marlena: Jun 21 2005, 02:33 PM

Hi unclejesse,

for offshore banking, i just recently come across loyalbank.com . so far, this is the trustable offshore bank i come across.

Thanks. I got an account with them a few weeks ago. So far so good.

How "expensive" is it to put up an offshore company?

Invest4profit? Any progrerss with the package you purchased?

Well my question about offshore banks is do we get a return on our money like on a monthly basis or something or what? Like the banks in the usa, we get like 0.02% daily on our money or something like that. So do we get a percentage on our money in the offshore banking? If so, how much? Anybody know?

Also, which are the best offshore investments that are good to invest in? Becuase the loyalbank I heard someone say above, is out of business

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