Full Version: When Is An Offshore Account Necessary?
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What kind of money should you be making if you were going to consider opening an offshore account. I assume that if you are only earning small amounts, that the fees etc. undergone to create an account would outweigh the benefits. Therefore when does it become necessary to think about opening an offshore account?
All depends on your own feelings towards when you should start one. If your earning over 5k a month and dont feel like paying taxes go for it
So, around about 5K a month is when it becomes a legitimate option you would say?
QUOTE(Sub-Zero @ Feb 8 2006, 04:30 PM) [snapback]1140912[/snapback] So, around about 5K a month is when it becomes a legitimate option you would say? It's up to your own preference. I would only maintain a offshore bank account if i earn $30000 a month. Why bother to go thru all the process juz to save the income tax for only 5k? QUOTE(sgbluewin @ Apr 17 2006, 01:43 PM) [snapback]1903573[/snapback] It's up to your own preference. I would only maintain a offshore bank account if i earn $30000 a month. Why bother to go thru all the process juz to save the income tax for only 5k? Isn't that the truth. It is only important once you feel it is important, some people are greedier than others =D
With the fees the offshore banks charge for everything you would make a saving just paying your taxes
Most Swiss accounts require $500,000 to open.
$5k a month isn't worth the $500-$1000 in fees required to open an account.
most offshore require 500k to 1M to invest . but swisscash is different..
Swisscash isn't a swiss bank account, it's just a scam MLM operation that fraudulently uses the swiss name. Even the swiss embassy says it is a scam that falsely uses the swiss name:
http://www.eda.admin.ch/kualalumpur_emb/e/home.p.html QUOTE It has come to the attention of the Embassy, that there is a very aggressive selling taking place in Malaysia to promote an investment fund scheme called
Swiss Cash or Swiss Mutual Fund 1948 Every serious Internet User is aware of the fact, that anything can be said, promised and advertised on the Internet completely uncontrolled. There is a tremendous amount of good and useful information, but unfortunately the Internet is also a breeding place of a lot of misleading sometimes even fraudulent information. It is therefore always wise to do some research. The Swiss Mutual Fund (1948) and or Swiss Cash are not registered companies in Switzerland. Until proof of the contrary, the Embassy doubts that the remarks about these funds and their historic links to Switzerland as outlined on their original website are genuine. The original website is indeed registered in the USA and the contact telephone number is from New Jersey (USA). It is obvious that this company uses the denomination “Swiss” in an illegal and fraudulent way to attract customers. Moreover, the promotion of the fund seems to work via agents on a MLM system which appears to be close to a Pyramid scheme. Pyramid schemes are illegal in Switzerland. The Embassy does therefore not recommend these funds as an investment opportunity. QUOTE(Van Bassidor @ Jun 26 2006, 11:52 PM) [snapback]2372527[/snapback] Swisscash isn't a swiss bank account, it's just a scam MLM operation that fraudulently uses the swiss name. Even the swiss embassy says it is a scam that falsely uses the swiss name: http://www.eda.admin.ch/kualalumpur_emb/e/home.p.html I think if you are making proper money you should always put it offshore to stay off the taxman's radar. Regards, Peter
most offshore require 500k to 1M to invest . but swisscash is different..
QUOTE(Van Bassidor @ Jun 27 2006, 12:52 AM) [snapback]2372527[/snapback] Swisscash isn't a swiss bank account, it's just a scam MLM operation that fraudulently uses the swiss name. Even the swiss embassy says it is a scam that falsely uses the swiss name: http://www.eda.admin.ch/kualalumpur_emb/e/home.p.html and why would the swish ebassy website be located in a website in China  you do know that .ch sites = china. QUOTE(Van Bassidor @ Jun 27 2006, 10:52 AM) [snapback]2372527[/snapback] Swisscash isn't a swiss bank account, it's just a scam MLM operation that fraudulently uses the swiss name. Even the swiss embassy says it is a scam that falsely uses the swiss name: http://www.eda.admin.ch/kualalumpur_emb/e/home.p.html thanks again Van for hunting down those MLM dogs. SC dragging our good name though the mud like that, then have the nerve to try to squeeze money out of unsuspecting MMG members by plastering their ref links wall-to-wall. No real investment uses referals. QUOTE(Elleve @ Dec 8 2006, 04:47 PM) [snapback]3317016[/snapback] and why would the swish ebassy website be located in a website in China you do know that .ch sites = china. China local sites are .cn any Chinese surfer can tell you that. .ch sites are for Schweiz, thats German for 'Switzerland'.
I would agree with the 5k per month being a decent amount.
The opening amount of $500-$1000-$5000 is reasonable if you make 5k a month, and as I understand it, it is NOT a fee. It's the opening amount. The fee (if you pay it) is for agents, not the bank itself IMHO. I have one Bank account offshore and am looking for another. Anyone having a good one around please pm/email me.
Here is a nice article for offshore banking:
http://www.global-secureweb.com/article-of...g-benefits.html
There are some very common misconceptions that apply to "offshore" or banking in a tax Haven. Yes, in fact years ago banks required very large deposits to open an account including most Swiss accounts. In the last 10 years that has changed considerable as other countries have become offshore tax havens who target people who wish to open accounts with as little as $250 USD.
I think of it as this: if I put away $500 a month into an offshore account with some level of interest it is something I don't have to worry about in the event of divorce, lawsuit, domestic tax issues etc. Considering people can obtain a International Business Corporation (IBC) and offshore bank account for $1000 it is not a bad deal.
Hi all,
Offshore banking is very easy and yields higher returns, not to mention tax avoidance depending on your personal situation. And TOTALLY SECURE if you know where to go. HSBC has one of the best offer around and is a major bank. I bank with them since i moved to hongkong in 2001 and could not be happier. For those of you who can put in a minimum of 20k, they have a great deal offshore at 5.22% for premier customer (5.5% for GBP!!). Sometimes they have special offers, I currently have my money there a 6%!!! And the best part is that you can withdraw your money any time (but if you do there will be no interests paid on that month). Check it out: http://www.offshore.hsbc.com/1/2/internati...e-saver-account MY PERSONAL OFFER TO YOU AND YOUR DAUGHTER: If you decide to join HSBC, pls. do it through me, I will refer you and then give you USD50 out of my commission. Thanks.
one swiss bank, - credit suisse , u will need only 1k CHF, or 2k EUR(if u prefer EURos) min deposit.... or current account min deposit 15k CHF
QUOTE(The_Baron @ Feb 15 2007, 02:45 AM) [snapback]3696197[/snapback] No real investment uses referals. WRONG! insurannce agent,real estate agent has referrals 
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