Silk Road forums
Discussion => Security => Topic started by: hehehe on August 30, 2012, 01:30 pm
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I'm looking at getting some ideas about managing my money and keeping most of it. I'm in a EU country with high taxes, plus I don't like what the government does with my tapayer money. I don't want to mak this topic country specific though.
So, what's the best place to stash your money in Europe and avoiding paying tax? What tax heavens are out there and how do they work? The rich and the lords of each and every country in this world do it all the time, they just call it "tax avoidance" instead of "tax evasion".
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Lichtenstein, Belgium or Switzerland would qualify.
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Switzerland isn't safe anymore. They have been sharing financial data with foreign governments for several years now after the USA twisted their arm.
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I'm looking at getting some ideas about managing my money and keeping most of it. I'm in a EU country with high taxes, plus I don't like what the government does with my tapayer money. I don't want to mak this topic country specific though.
So, what's the best place to stash your money in Europe and avoiding paying tax? What tax heavens are out there and how do they work? The rich and the lords of each and every country in this world do it all the time, they just call it "tax avoidance" instead of "tax evasion".
Hi hehehe,
As far as I'm aware, the best places to keep money off-shore these days is currently the Cayman Islands. However, you'll need to maintain a minimum balance in your account of (usually) €50,000 and there are high fees for the services provided.
Closer to home, you'll find regulated off-shore banks in Jersey, Guernsey, the Isle of Man and Switzerland. Note though that these 4 jurisdictions WILL share your information, if it's requested.
To bank securely in the Caymans, it will be necessary to set up an off-shore front company, but my knowledge on this subject is extremely limited so I can't really be of any further help to you.
Unless you're dealing with relatively large sums of money, you won't be able to open up a bank account in the Cayman Islands.
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I'm looking at getting some ideas about managing my money and keeping most of it. I'm in a EU country with high taxes, plus I don't like what the government does with my tapayer money. I don't want to mak this topic country specific though.
So, what's the best place to stash your money in Europe and avoiding paying tax? What tax heavens are out there and how do they work? The rich and the lords of each and every country in this world do it all the time, they just call it "tax avoidance" instead of "tax evasion".
It really does depend on the volume we are talking about. Are you talking about the odd bit of cash or are we talking about 5/6 figure volumes per month?
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Better discussion for the experts at HackBB: http://clsvtzwzdgzkjda7.onion/ucp.php?i=pm&folder=inbox
Just be wary of the sharks in the water...
Modzi
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Medium to low cash volume 10 grand (in $ equivalent) a month if I'm lucky these are few and far between months, otherwise normally between 3-4 grand a month. The money accumulates and I just want to keep it safely in a bank account. I don't have any plans for investment or expenditure for the foreseeable future, just want to keep it accumulating and live off it when i retire. The money is not illegally generated it's my proper self-employed business, it's just that I'm fed up of giving half of it away in tax.
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Medium to low cash volume 10 grand (in $ equivalent) a month if I'm lucky these are few and far between months, otherwise normally between 3-4 grand a month. The money accumulates and I just want to keep it safely in a bank account. I don't have any plans for investment or expenditure for the foreseeable future, just want to keep it accumulating and live off it when i retire. The money is not illegally generated it's my proper self-employed business, it's just that I'm fed up of giving half of it away in tax.
Depending on your jurisdiction there are plenty of ways to funnel money out of your company to reduce your personal tax bill - cutting your wage and making up the shortfall in perks and benefits is one legal way of doing so. Perhaps you can claim tax back on items bought for your business? It's not hard to develop a system whereby you can funnel a couple of thousand a year out of your company this way, whilst taking a reduced wage so as your company doesn't suffer but you come out with a similar net wage, tax-free. This method isn't legal so will require some planning.
Or perhaps consider paying yourself claimable expenses? These are normally tax-deductible, and are another way you can reduce your personal tax bill without venturing into illegality. (Check your local and federal/state/country laws thoroughly before implementing any of the above methods.)
As always, it's important to ensure that you live within your means, otherwise you risk drawing attention to yourself and having the taxman knock on your door.
- grahamgreene
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Brother, if it's legal you are taking a good thing and making it bad.
However having warned you, I will tell you in a simple way what you need to do.
You need to arrange to earn that money in other people's names.
You can do the same thing with corporations and LLC and such, and have one create expenses for the others, but other people's names is easier and can't get audited. You can also financially benefit the other people without it costing you anything.
The other way is invest in real estate under an LLC and it does the same thing.
Get better tax advise, you're making enough money, it will pay for itself AND it's tax deductible! LOL
Peace,
Modzi
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I'm already claiming the exenpenses and the sums I mentioned are what's left in pure profit and that' what's getting taxed.
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Yeah, you gotta "create" more expenses.
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Ok hehehe given what you have said about it being legit income you do not need offshore banking.
Look into umbrella companies for contractors. Just google it on the clearnet. That will reduce your tax liability significantly.
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Better discussion for the experts at HackBB: http://clsvtzwzdgzkjda7.onion/ucp.php?i=pm&folder=inbox
Just be wary of the sharks in the water...
Modzi
Did you mean to link to a user control panel URL?
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Did you mean to link to a user control panel URL?
No, LOL
Here's where the crooks be:
http://clsvtzwzdgzkjda7.onion/index.php
Thanks...
Modzi