why do such agreements like tiea, aeoi, crs, etc..... have to exist on a global scale? how do they all work? oecd calling the shots? why would such agreements be in effect? is it because of the panama papers? who was depositing money in panama offshore banking? what kind of customers deposit their money in offshore banks? can someone give me an idea of what kind of people are the banks customers? i just want an opinion from anyone? what kind of people deposit money in offshore banks assuming that theyre reputable? im all ears. rsvp.
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- Thread starter michael reader
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This is just my opinion below. However we should not mix far offshore i.e Caribbean and atols in south pacific with people that bank outside their home country in non-banana republics which is also technically considered offshore.
People that use offshore banks fall into two categories now. Criminals and those that want to reduce tax liabilities. Most people don't recognize they are committing a crime until they are sat in front of a judge. In 2018 asset protection is a category that can no longer apply to offshore accounts as with CRS/FATCA once your assets are known they can be confiscated. Those after simplicity in using offshore banks can no longer claim this, as setting up an offshore company and an account is not as easy as setting up an onshore company i.e a UK limited company or an Estonian company with an account. You are actually having to put in effort to get it to work and last longer than a few months 2018.
The main reason I feel governments support the work of the OECD is to fight against organized crime, money laundering and tax evasion. Ultimately it means more tax revenue for them as governments are all broke. However it will not solve their financial situation in the slightest but its good to pretend to the public the reason they have poor health care is because Mr Jones down the road does not pay his taxes while at the same time firing of barrages of missiles in middle east that cost $800k each. The amount of money lost to tax evasion however is significant. Terrorist financing is just the boogie man excuse used to clamp down and shock the public into cooperation i.e if you look at terror attacks around Europe they did not need a lot of money to buy kitchen knives and hammers.
Panama papers was not such a big deal after the shock factor. Aside from the headline names that appeared on the paper most clients were actually using legal offshore structures. The ultra wealthy have good advisors so those that have above $20m don'tt make same offshore mistakes as those below.
People that use offshore banks fall into two categories now. Criminals and those that want to reduce tax liabilities. Most people don't recognize they are committing a crime until they are sat in front of a judge. In 2018 asset protection is a category that can no longer apply to offshore accounts as with CRS/FATCA once your assets are known they can be confiscated. Those after simplicity in using offshore banks can no longer claim this, as setting up an offshore company and an account is not as easy as setting up an onshore company i.e a UK limited company or an Estonian company with an account. You are actually having to put in effort to get it to work and last longer than a few months 2018.
The main reason I feel governments support the work of the OECD is to fight against organized crime, money laundering and tax evasion. Ultimately it means more tax revenue for them as governments are all broke. However it will not solve their financial situation in the slightest but its good to pretend to the public the reason they have poor health care is because Mr Jones down the road does not pay his taxes while at the same time firing of barrages of missiles in middle east that cost $800k each. The amount of money lost to tax evasion however is significant. Terrorist financing is just the boogie man excuse used to clamp down and shock the public into cooperation i.e if you look at terror attacks around Europe they did not need a lot of money to buy kitchen knives and hammers.
Panama papers was not such a big deal after the shock factor. Aside from the headline names that appeared on the paper most clients were actually using legal offshore structures. The ultra wealthy have good advisors so those that have above $20m don'tt make same offshore mistakes as those below.
then will criminals continue to use them or not? if so, how? if not, what will these unlawful people do if they can no longer use offshore banks? rsvp.
They'll vote and pass new laws to benefit them, they have the money to buy the power. I can recommend you to watch "The International" with Clive Owen and "The Infiltrator" with Robert Mazur/Bob Musella, both based on true stories, it redefines who's who in this money game and Bank(s)ters ethics.
Offshore Banking is here to stay though the entry ticket won't be the same for everybody.
Well , this is my opinion only.
Governments worldwide are financially dying, most European governments for example are minus billions, debt to European bank. USA is not better .
So they try to find money anywhere, now the agreement between countries to report... Their new road for gold.
They look after every cent and hope for more with criminal money.
A lot of different people used offshore companies / banking : the simple guy that worked honestly and sold his company and didn't want to pay tax and give all his life work to Tax authorities.
Governments people that have made big deals and sent retro commissions discretly to offshore. Criminals of course: dirty money from fraud etc...
It's an announcement effect guys, I saw in 2012 the HSBC Hong Kong trading 200 of its customers to a country where they are citizen against the right to work in the same country. Nothing new! Now it s just official, it let's you time guys to think out the box and take out your money.
For now we have the crypto, let's use it.
@Martin Everson , seized BTC, do you mean the market place on the dark that have been seized? If yes it a bit more complicated than this
Governments worldwide are financially dying, most European governments for example are minus billions, debt to European bank. USA is not better .
So they try to find money anywhere, now the agreement between countries to report... Their new road for gold.
They look after every cent and hope for more with criminal money.
A lot of different people used offshore companies / banking : the simple guy that worked honestly and sold his company and didn't want to pay tax and give all his life work to Tax authorities.
Governments people that have made big deals and sent retro commissions discretly to offshore. Criminals of course: dirty money from fraud etc...
It's an announcement effect guys, I saw in 2012 the HSBC Hong Kong trading 200 of its customers to a country where they are citizen against the right to work in the same country. Nothing new! Now it s just official, it let's you time guys to think out the box and take out your money.
For now we have the crypto, let's use it.
@Martin Everson , seized BTC, do you mean the market place on the dark that have been seized? If yes it a bit more complicated than this
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