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

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.

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

I will add another link , I've tested this company and even purchased two offshore corporation from them .

http://offshoresimple.com/

You guys seem big earners to me, must have quite an income to make all these actions worth the trouble.

If you go with Plexpay, you can havve an offshore account and cradit card, and this will only cost you 50$.

Hope this helps

Loyalbank is piece of **** ,I've wasted enough time with them.

To get a wire from my partners I had to provide them documents that state that funds come from clear sources.

I was olso thinking about joining the Loyal bank but perhaps I should look elsewhere. Can anyone recommend a good offshore bank?

I wonder too, and one question:
So even you have an offshore acc. where you transfer you earnings from hyips.. and from offshore to your bank you have to pay taxes or?

HSBC has their own offshore banking account: click!
Interesting aye? I guess it's much more safer than those in Panama/Cayman Islands.

Its almost pointless these days to get an offshore bank account, research it.

yah !! sounds professional !

Hsbc ??! serious ?

looks good... mmm i need a US bank account.. will applying for this offshore banking in US dollars be accepted as a US bank account ?

Merely having an offshore bank account is never enough.

If you want your income to be offshore you need an offshore corporation that has an offshore account. More than that, your business or investments need to be set up from the beginning in this way. The reason is that if you have a business/investment plan that is making enough to make looking at offshore viable, then that business has an inherent value.

The IRS/HMRC (in UK) would deem your transfer as a sale, and they would deem a valuation on that sale of anywhere between 10 and 20 times your income from your business.

Now, if your income is lowish and, with everything else you do, below the radar then a transfer could be possible (ie you never had it in the first place, right?).

As for where to go, and how much it will cost there are plenty of places that will do a package for you. The cost would be about $1200+ including the bank account, nominee shareholders, nominee directors, and all the rest. There is also an annual charge. The cheapest center when I last looked was the Seychelles.

Bank accounts? You can get one of those at many well known names including HSBC, Barclays etc. You Bank account does not need to be in the same jurisdiction as the corporation, probably better not to be.

This is a big subject - the internet has some great sites on it that take you through what you might need. If the value is worth it to you, the time taken to do the research will also be worth it. After that you want to validate your thoughts with a tax attorney, who, as someone said earlier gives you the benefit of client/attorney privilege.

I am a UK based financier until recently working with a UK law firm and the IRS on the use of abusive tax shelters by some High Net Worth US citizens in the late 90s. I am unable to offer specific advice or recommendation but do please tread carefully.

Best regards

Merely having an offshore bank account is never enough.

If you want your income to be offshore you need an offshore corporation that has an offshore account. More than that, your business or investments need to be set up from the beginning in this way. The reason is that if you have a business/investment plan that is making enough to make looking at offshore viable, then that business has an inherent value.

The IRS/HMRC (in UK) would deem your transfer as a sale, and they would deem a valuation on that sale of anywhere between 10 and 20 times your income from your business.

Now, if your income is lowish and, with everything else you do, below the radar then a transfer could be possible (ie you never had it in the first place, right?).

As for where to go, and how much it will cost there are plenty of places that will do a package for you. The cost would be about $1200+ including the bank account, nominee shareholders, nominee directors, and all the rest. There is also an annual charge. The cheapest center when I last looked was the Seychelles.

Bank accounts? You can get one of those at many well known names including HSBC, Barclays etc. You Bank account does not need to be in the same jurisdiction as the corporation, probably better not to be.

This is a big subject - the internet has some great sites on it that take you through what you might need. If the value is worth it to you, the time taken to do the research will also be worth it. After that you want to validate your thoughts with a tax attorney, who, as someone said earlier gives you the benefit of client/attorney privilege.

I am a UK based financier until recently working with a UK law firm and the IRS on the use of abusive tax shelters by some High Net Worth US citizens in the late 90s. I am unable to offer specific advice or recommendation but do please tread carefully.

Best regards

yea was thinking of incorporating a company offshore.. but quite a hastle to go through .. n all the annual fees and such... need lots of reading up n research before one really decides to do so..

Why not investigate doing the trusts and corporations (Nevada, Wyoming, Delaware, Maryland) here in the USA and have the Hyip's profits listing as interest income from personal loans from one of your corporations? If you are working these programs as a serious business, then you will be making enough that setting this up will be worth your while. That way you can pay the taxes due and your money is now available for recognized investments such as real estate, stocks and bonds, futures markets and business investments.

But anyway, consult with a great tax lawyer before taking any steps, that way you can be sure that you do it right.

If I go to Singapore to open a personal checking account / savings account in Sing Dollars,

is this considered offshore ( I am not Singaporean ).

If this is so, then I do not need to go to a foreign bank ( Citibank / StanChart )
to open a US Dollar account ?

I am puzzled here. Any comments ?

Unclejesse,

I don't believe investing in hyips in any part of the world is illegal. Certainly the government may discourage you from doing so, by requiring you to disclose all dealings and foreign accounts, but as far as illegal I don't think so.





If you are a citizen of the U.S. then yes. I don't know for other countries, but it's pretty black and white here in the U.S.. Even if your corporation, LLC, trust or bank accounts reside outside the U.S., you, a U.S. citizen own them, therefore they are taxable.

I agree about the "Sovereign Society" that is very definietly no scam. I have been with them since 1998 and I have offshores in Lichtenstein, Andorra and New Zealand. the IRS knows all about it and I can assure you, I pay less than 10% of the original tax bill and earn almost triple what I previously did before 1998.

Thanks Sovereign Society, they are really good. Highly recommended.

Sounds like a nice idea, will read further.

why is that? I am a newbie where is a good place to start learning to create an investment site,I would like not to offer egold just credit cards

I wish this thread was more active.
I really would like to learn more about IRS and keeping up with your money and taxes when it comes to investments, hyips and auto-surfs etc. etc.

Why do none of these sites also file the leftover taxes for you! The only one that does so far that I know of is ebgnetwork.com, it costs an extra $200 I think...

I've also got an offshore banking account with an offshore company,
in Belize from offshoresimple. I can recommend them to anybody. Their prices are also very competitive...

They have an interesting page about why Personal Offshore accounts are not safe, and why we should incorporate offshore first.
here is the link : http://offshoresimple.com/why_not_personal...nk_accounts.htm
Going offshore seams to offer protection on financial crisis times...

Des

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