So how would this work? Change name and use old passport in new country and in foreign bank?
So how would this work? Change name and use old passport in new country and in foreign bank?Why not, if that would help me to avoid to pay taxes I would not hesitate to do so!
Banks require you to update your information every year and often supply documents.What stops anyone from doing this type of set up to keep funds safe and avoid CRS reports in your current residency country?
1) Open bank accounts in country A and deposit funds in that bank account
2) Move abroad to country B without notifying country A, change your own personal name in country B to something totally different and get a new passport with the new name
3) Keep earning money in country A with the old bank account and never get reported in country B for the above mentioned reasons? (change of name + never reported moving out the country)
What will happen when they ask you for your residence and want proof or residence documentation?By getting a second passport through investment and renting /buying a property and getting a utility bill on that property. Many countries in the Caribbean you also get a Tax ID and a Drivers License. Use these documents to open Bank account in any other country of residence( in case you don't want a Caribbean bank account). Bank only ask you for your passport, it doesn't matter from where you are.
Which are such countries that work as of 2021?An easier way, get residency in a 0% tax country, open bank accounts and show the residency of that country. CRS reporting goes to the 0% tax country, which doesn't matter. Case closed.
after you have the passport you create your world around it to be able to proof everything.What will happen when they ask you for your residence and want proof or residence documentation?
What will happen when they ask you for your residence and want proof or residence documentation?
Which are such countries that work as of 2021?
Problem is - it requires actually staying there.UAE among others.
Problem is - it requires actually staying there.
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