Offshore Bank Accounts/Trusts

[USSInsiders]

To anybody with a considerable amount of fiscal knowledge, what are some advantages of having funds stored in an offshore account?

I don't wanna get locked like my man Wes SNipes for tax evasion, but I was curious if there are more benefits to these accounts other than being used as a tax haven.

in advance for the assistance

 

[Ed MOTHERFUCKING G]

You will almost certainly get a higher return on cash in other countries simply because the risk is signifigantly higher in banking systems outside of america. If you can tolerate this risk then feel free to try it.

In short, rate of return, currency hedging (having euros or kronor when you think the dollar is going down, and buying dollars when it bottoms) and tax evasion are the only real reasons to have cash outside of the us.

For me, none of those are reason enough. I'll be fine with greenbacks.

 

[88m3]

It's not very practical or worth it generally.





@ ed the euro fell off a pretty serious cliff over the last few years...

 

[alybaba]

To do it properly, you need to do a foundation (Panama or Lichtenstein) - foundation's assets are non-freezable, technically it has no owner, so if you have unpaid debts, creditors can't touch it etc etc. Foundation can't engage in commercial activity, but then you just set up a BVI company owned by the foundation and you're set. Costs a lot and not worth it unless you're a multi-millionaire.

 

[zerozero]

as for the hedging thing, euro not safe these days. Swiss francs are better. interestingly, australian dollars are seen as increasingly attractive

I personally don't think the us dollar as at any real risk though

 

[USSInsiders]

You will almost certainly get a higher return on cash in other countries simply because the risk is signifigantly higher in banking systems outside of america. If you can tolerate this risk then feel free to try it.

In short, rate of return, currency hedging (having euros or kronor when you think the dollar is going down, and buying dollars when it bottoms) and tax evasion are the only real reasons to have cash outside of the us.

For me, none of those are reason enough. I'll be fine with greenbacks.

Interesting, I appreciate the input.

What markets offshore in particular are great for earning really good interest? I've heard about Singapore, but I don't wanna risk it

 

[88m3]

as for the hedging thing, euro not safe these days. Swiss francs are better. interestingly, australian dollars are seen as increasingly attractive

I personally don't think the us dollar as at any real risk though

Australia is going to have it's own set of issues in the near future.
I wouldn't risk it.

 

[alybaba]

Interesting, I appreciate the input.

What markets offshore in particular are great for earning really good interest? I've heard about Singapore, but I don't wanna risk it

You get shyt rates everywhere on USD. Bond yields are in the gutter too.

DBS (Singapore) http://www.dbs.com/ratesonline/Pages/fdacu.aspx?hasRedirected=true

HSBC (Hong Kong) https://www.hsbc.com.hk/1/2/!ut/p/c...mPsA-WGergaeJk4mBqa-boYGnsYEdBfkhioCAAzaMe8!/

 

[unit321]

Interesting, I appreciate the input.

What markets offshore in particular are great for earning really good interest? I've heard about Singapore, but I don't wanna risk it

Offshore markets? Be very careful. Globally, everyone is doing bad. Gold is the standard. It's much less risky and it's not going to drop off in value. Unless you are trying to launder drug money or something cray like that , investing in various energy stocks is not bad, even if you have to pay taxes on capital gains.

 

[Ed MOTHERFUCKING G]

Gold is the standard. It's much less risky and it's not going to drop off in value.

Lets not go crazy here. Other than that agreed 100%


Sent from Seattle, by way of Ann Arbor on Tapatalk: The Remix

 

[Melt_Man]

Offshore markets? Be very careful. Globally, everyone is doing bad. Gold is the standard. It's much less risky and it's not going to drop off in value. Unless you are trying to launder drug money or something cray like that , investing in various energy stocks is not bad, even if you have to pay taxes on capital gains.

Sound like a realtor circa 2007 talking about the housing market

 

[Slaimon Khan Shah]

We need to avoid dealing with that usurious bank money if we can. God destroys usury.

 

[unit321]

Sound like a realtor circa 2007 talking about the housing market

Gold is always better than dollar/dinero/mark/pound/yen/Euro/baht/rubel/etc. Gold can drop in value but never below the value of a country's monetary value. It is less risky, and it doesn't have the potential to explode in value like real estate that carries even more risk.

 

[Ed MOTHERFUCKING G]

Gold is always better than dollar/dinero/mark/pound/yen/Euro/baht/rubel/etc. Gold can drop in value but never below the value of a country's monetary value. It is less risky, and it doesn't have the potential to explode in value like real estate that carries even more risk.

But it does lose value.



Sent from Seattle, by way of Ann Arbor on Tapatalk: The Remix

 

[unit321]

But it does lose value.

Yeah, I know. Why would you reiterate something I put in the second sentence?