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| Thread title: Offshore bank accounts? |
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12-31-2005, 11:57 AM
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#1
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Status: The BidMaster
Join date: Nov 2004
Location: England
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 Offshore bank accounts?
I'm looking to setup an offshore bank account for a few reasons, has anyone already got an offshore account? If not, does anyone have any information regarding these or is anyone planning on setting their own one up?
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12-31-2005, 02:53 PM
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#2
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Status: Narassist
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Hmm.. I'm not really sure on what one is to consider an Offshore account. I still have my bank account in Germany from when I lived there, does that count?
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12-31-2005, 03:00 PM
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#3
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Status: Online
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Why do you want to setup an offshore bank account? What advantages / reasons would a person have for setting one up?
I don't know anything about them except if you have them in the haymen (spelling?) Islands you get free money from the mob 
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12-31-2005, 08:08 PM
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#4
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I know there are definitely advantages to having an offshore bank account, but I can't say I'm aware of what those are - perhaps you could outline a few of them?
As you will be able to guess then, I don't have an offshore bank account myself.
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12-31-2005, 11:38 PM
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#5
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Status: The BidMaster
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The main reason i'm looking into an offshore account is because you don't pay any tax on the money depending on what country it's based in.
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12-31-2005, 11:43 PM
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#6
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Originally Posted by Robson
The main reason i'm looking into an offshore account is because you don't pay any tax on the money depending on what country it's based in.
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Go the haymen islands, thats where Krusty keeps his money and he only got caught for tax invation once in like hundreds of episodes.
EDIT: Change the H to C 
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01-01-2006, 12:13 AM
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#7
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Why would you need an offshore bank account?
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01-01-2006, 12:34 AM
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#8
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Status: The BidMaster
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To avoid paying Tax on the money. There are also other benefits.
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01-01-2006, 02:09 AM
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#9
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It's actually Cayman Islands.
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01-01-2006, 02:50 AM
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#10
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Advantages:
* strong privacy (see also anonymous banking)
* less restrictive legal regulation
* low or no taxation
* easy access to deposits (at least in terms of regulation)
* protection against local political or financial instability
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http://en.wikipedia.org/wiki/Offshore_bank
I guess being American (if you are?) would mean you get taxed even more.. I remember reading through the Adsense tax information and it look like you get taxed pretty bad if you live or are based in Amierca..
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