Possible issue for AM's in Thailand

bluechinagroup said:
All Singaporean banks offer brokerage accounts that let their customers trade in US securities. If they flout the Hire Act, the bank might be subject to 30% withholding for all US securities that they or their customers hold. The bank may even be barred from trading US securities completely.

Also Singapore has a limited tax treaty with the United States.

It's not as simple as you think.
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All as in the 5 that you are aware of?

I dont want to make this some stupid pissing contest. Im here to provide some cool info for those who are interested. Im not saaying any of this is easy. Im making an effort in all of my posts to direct those who are interested to lawyers who know what they are doing.
 


bluechinagroup said:
I would honestly take what wayn3 says with a grain of salt if you are a US citizen. Even if you use an overseas LLC in Nevis or other privacy minded jurisdiction, the Swiss bank will still require to know who the beneficiary is. If the beneficiary is a US citizen yada yada yada
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You dont even read my posts. The beneficiary will not be a US citizen once youve setup stuff in the correct way. I understand that you want to be some voice of reason, but at the moment youre just distracting people.
 
wayn3 said:
There are banks in singapore that dont even have a plate on the building theyre located in. To anyone not in the know, they wouldnt even exist. You can only open an account in person. You will get a paper that doesnt have your name on it with which you can access your account. Nobody else can. Nobody else knows it exists. To anyone working at the bank, its only a number. But what if they just take my money :(((((. As if your 6 figures a month would matter to them. They own vaults under the city that are protected by a security force better equipped than the shitty german military, full of gold, on which they sell shares.
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You dealing with these super secret "banks" which are not authorized by the SG government or work under MAS?

i am not aware of any such banks. If at all they exist, your money is unsecured. Not sure, how many of you want to deposit your money in a bank which doesn't even follow the banking standards.

and way3n, Do you even live here?
 
Guys, speaking of Hong Kong/Singapore banking...

a couple months ago I contacted this law firm in Hong Kong that is apparently specialized in helping foreign companies/consultants set up operations in H.K. I emailed them saying I run an online business, earn money through affiliate marketing and consultancy services, and this is what they said:

********************
For the type of business that you are describing, we would suggest that you setup a Seychelles company in order to keep ownership confidential, have 0% profits tax rate and where there is no requirement for accounting/audit.
Both Hong Kong and Singapore require accounting, audit and tax filing which will make your business operation have higher expenses.

I will be happy to call you in order to review the options that you have and any further questions you may have.
In the meantime, please find enclosed the requirements and fees for a company in the Seychelles.

Requirements of Seychelles

  • No filing of Annual Return is required so that privacy is protected
  • Business activities outside the country of incorporation can be transacted tax free
  • Only one director and one shareholder is needed
  • No restriction on the nationality and residency of the director(s) and shareholder(s)
  • No reporting required for the change of director
  • Issuance of nominee shares is allowed
  • Annual auditing not required
********************

What do you guys think? What's the catch here? Is Seychelles really the best option?
 
If you really want to wire money the hidden way, get to know some muslims brahs and use their internal muslim money transfer service Hawala which is completely off the books and purely based on the honor and family system.
 
wayn3 said:
You dont even read my posts. The beneficiary will not be a US citizen once youve setup stuff in the correct way. I understand that you want to be some voice of reason, but at the moment youre just distracting people.
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The signer of any bank account has to be an individual. A LICENSED bank will not accept a stack of papers as a bank account signer.

There are services that allow you to have a nominee who is not a US citizen to be the signer of your bank account, but I consider that extremely dangerous as they will have full control of your bank account.
 
And this is a great deal for everyone EXCEPT US citizens.
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^^ the only advice in this thread that matters (for Americans).
Otherwise you will get caught, long-term. Not worth it in the end when the US sends you to jail and takes your monies.
 
So let me get this. I'm European and I don't want to pay a penny of my AM income to the nanny state. Will a Hong Kong corporation and bank account be enough?
 
rusvik said:
So let me get this. I'm European and I don't want to pay a penny of my AM income to the nanny state. Will a Hong Kong corporation and bank account be enough?
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You can hide it that way. As long as you live there, there will be some piece of legislation that requires you to pay income tax on all your income. Is it a good vehicle to hide your income? I dont know.

Im not a lawyer so I dont know whether I need those disclaimers claming that I cant give legal advice, so please keep in mind that this is not intended to be legal advice but just the clearly unqualified opinion of some moron.
 
bluechinagroup said:
The signer of any bank account has to be an individual. A LICENSED bank will not accept a stack of papers as a bank account signer.

There are services that allow you to have a nominee who is not a US citizen to be the signer of your bank account, but I consider that extremely dangerous as they will have full control of your bank account.
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I consider it way more dangerous to hand over 80% of my income to someone who uses the money to employ a police force that is instructed to shoot me down should I not make my yearly payments anymore.

Other than that, those highly dangerous nominees are poor shmucks making a decent living signing a bunch of papers some lawyer asks them to.

Yes, you will not escape some rules of the part of the world you live in without breaking free from them. That includes running the faint risk of getting burned. You only fear that because you live in a place that burns you all the time, with a 100% probability. You got used to getting fucked for sure. Getting fucked only 1 out of 10000 times feels dangerous to you.

Liberate your mind before you leave your discomfort zone.
 
wayn3 said:
Other than that, those highly dangerous nominees are poor shmucks making a decent living signing a bunch of papers some lawyer asks them to.
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These poor shmucks have complete access to your bank account and therefore your funds and you're ok with that?

You're putting all your faith in some stranger you never met. That's really short sighted and naive. Do you also invest in HYIPs too?

Renouncing your US citizenship is far safer if you want to avoid taxes and keep your assets secure.

Also 80% of your wealth isn't going into taxes, stop exaggerating.
 
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bluechinagroup said:
These poor smucks have complete access to your bank account and therefore your funds and you're ok with that?

You're putting all your faith in some stranger you never met. That's really short sighted and naive.

Renouncing your US citizenship is far safer if you want to avoid taxes and keep your assets secure.

Also 80% of your wealth isn't going into taxes, stop exaggerating.
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What you want to do is your problem. Im only showing you some options. The 80% is very real. Maybe not for you. For the people of my country, it is.
 
wayn3 said:
What you want to do is your problem. Im only showing you some options. The 80% is very real. Maybe not for you. For the people of my country, it is.
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So you're not a US citizen and therefore your worldwide income is not taxed. You can move to a low tax jurisdiction like Hong Kong and live tax free.

You also don't need to have a nominee signer for your bank account because you are not a US citizen. So why do you take the extra risk of using one?

Also you keep contradicting yourself. You claim I don't read your posts, but you're mistaken.

In your initial post you implied that Singapore will soon have a full double taxation treaty with the US. Then you do a 180 in a later post and trumpet the superiority of Singapore's banking secrecy. So which one is it? Do you even know what the hell you're talking about?
 
Do yourself a favor and stop trying to discredit me. It wastes your time. Im not going to talk about what I personally do on a public forum. Neither should you.

Yes I can move whereever the fuck I want. Yes I know that its more difficult for you guys. Really sad story. Im trying to help. Should I not? You talk like one those retarded politicians. How you went through hardships I couldnt possibly understand. I include guys like you in my prayer because you cant be helped.


Next bomb. Economic Citizenship. Montenegro runs such a program. "Donate" a couple hundred grand, get a second citizenship relatively fast. (This means you can buy a citizenship). You can only get rid of your citizenship if you have a second one to claim as your primary one, because you cant be citizenshipless.

Other option is through naturalization. Among the jurisdiction that do that relatively fast is the dominican republic. One of the advantages of that is that it doesnt run some stupid requirements like having you to stay there all the time. After about 3 years youre can claim citizenship of the dominican republic.
 
Guys, I don't want to move to Hong Kong, I just don't want to pay taxes (not American). Is Hong Kong going to tell my country that I've opened this bank account and company?
 
wayn3 said:
Do yourself a favor and stop trying to discredit me.
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You're doing a great job of this all on your own. Anyone can simply read your posts and see that you're spouting off a bunch of different "solutions" offered by the Qwealthreport. Some of them are real, but you're still coming off as naive. Only a fool would trust a nominee bank account signer they never met and have no direct contact with.

wayn3 said:
Next bomb. Economic Citizenship. Montenegro runs such a program. "Donate" a couple hundred grand, get a second citizenship relatively fast. (This means you can buy a citizenship). You can only get rid of your citizenship if you have a second one to claim as your primary one, because you cant be citizenshipless.
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Montenegro's economic citizenship program is still "on hold".

http://www.dailynewsmontenegro.com/montenegro-economic-citizenship-still-on-hold.html

However St. Kitts has an economic citizenship program that is active and been around for a while. However expect to pay in the very high 6 figures range for your citizenship. This economic citizenship program is very popular with mainland Chinese businessmen.

Other option is through naturalization. Among the jurisdiction that do that relatively fast is the dominican republic. One of the advantages of that is that it doesnt run some stupid requirements like having you to stay there all the time. After about 3 years youre can claim citizenship of the dominican republic.
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Great....so how is the above advice any different from my suggestion of renouncing US citizenship and obtaining a citizenship elsewhere? I never said you can be stateless. I figured it was obvious that you'd have to have a second citizenship ready elsewhere.
 
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wayn3 said:
LLC that holds "your" assets in Panama, Trust in new zealand, LLC in Nevis, Banking in Singapore and Switzerland, problem solved? Seriously, get over it. If you have enough money to live in a place you consider a paradise, what about you fuckin get over holding stuff in your name. Nobody does that and yu know it. Whether you do it or make fun about people who do doesnt matter much. Its practice because it works.

Move your lazy asses. Get this set up once and it will make your life a million times easier every time you try to do something the "feds" or the "irs" or the "fbi" or your stupid neighbor considers illegal. If you dont know where to start, google qwealthreport. If its removed from google again, try to guess the top level domain.

Whats the point in creating the 20th thread of the week claiming law X makes the funny things you wanna do impossible. Theres no such thing. Youre smalltime. Anything the media would be silly making an example of is smalltime. If youre not smalltime and dont already employ the best lawyers outside of the country, then wtf?

The bank in switzerland doesnt touch your money because you are a US citizen has no problem taking in the moment it goes through a company located in x. Where x is any country not named the united states of america.

You do shady shit? Go get an llc in a jurisdiction that doesnt keep records of the owners of said LLC.

For every little problem that makes your life impossible to live, theres a 3 figure solution the government doesnt want you to know about.

Especially if you move to thailand. Like youd run into problems getting your money. There are banks that issue credit cards with no name on them. "Lol fag those dont exist for like 40 years now". Which is correct, if you ask your local commercial bank about them.

There are countries that pull shit your government gets furious about. The fact they cant just be corrected by some smalltime military action alone speaks volumes about the stability of your currency.
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Wur buy ur eBook?
 
rusvik said:
Guys, I don't want to move to Hong Kong, I just don't want to pay taxes (not American). Is Hong Kong going to tell my country that I've opened this bank account and company?
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No, but it's way too risky to bank offshore while living in your home country.

You are supposed to declare ALL your foreign income if you're still a citizen + resident of your home country.

You can try, but if they somehow find out, even if it's 40 years later, they can fuck you up big time. Jail time guaranteed.
 
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