Silk Road forums
Market => Product offers => Topic started by: vlad1m1r on June 13, 2012, 07:52 pm
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Dear all,
My modest Bitcoin business has been ticking over very nicely and as such I have started an offshore bank account (in Belize) to stow away the proceeds in the name of a dummy company (a company Director before I turned 30, who would have imagined?) :-D
This isn't particularly difficult to set up and I was wondering if any of the vendors on here might find it to be of any use? As it stands your assets could be seized at any moment by the IRS so I imagine it would be useful to have somewhere to store your ill gotten gains.
As I mentioned above it's a two stage procedure whereby you set up a company in an offshore location like the Caymans, Bahamas, Cyprus or Belize and then you open a bank account in the name of said company.
The era of the numbered Swiss bank account is long since gone and you do have to provide notarised identity documents and proof of address to open an account BUT in Belize and the Caymans at least the banks do not share that information with their government. The account itself is in the name of your dummy company e.g GAMMA FINANCIAL SERVICES which of course would tell the IRS nothing about your offshore assets.
So to summarise:
Potential advantages:
- Hide your earnings and keep them tax free in US dollars.
- Visa or Mastercard which you can use anywhere in the world.
- Zero possibility of the IRS freezing your assets.
- No more having to store and hide large amounts of cash.
- Clients making steady payments can also get credit cards, mortgages etc.
- Your own PO Box to receive mail anywhere in the world.
- Easier to launder your proceeds in a jurisdiction with more lax compliance measures.
Potential disadvantages:
- You do have to reveal your identity to open the account, although that information is kept confidential by the bank.
- High set up fees (around 700 USD dollars to register a company, the same again to open an account). Some banks also require a minimum opening balance.
- Longer processing times than using a domestic banks. There are also small fees for incoming payments.
- You would still need to fund your offshore account via wire transfer unless you fancy getting on a plane and taking a briefcase of cash with you every six months.
Since I work in banking I was toying with the idea of helping people to set themselves up with an offshore identity but before I go to any great lengths does this sound like something that might be of interest to anyone?
V.
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Absolutly,
I would also be interested in the most secure way of transferring your BC from SR to said account.
If this information can be provided, I will defiantly set up shop.
Thanks,
- D3LL
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Intriguing, I too would like to find out more.
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Absolutly,
I would also be interested in the most secure way of transferring your BC from SR to said account.
If this information can be provided, I will defiantly set up shop.
Thanks,
- D3LL
In the first instance I should point out that security is a bit of a moot point when it comes to offshore accounts. The US has no jurisdiction outside the States itself (with a couple of notable exceptions such as when a US Citizen is murdered on foreign soil) and so if you did choose to use wire transfers to an offshore account there'd be no way to prove it was yours. Of course it would still be possible to prove the money passed through your own bank account!
The most secure method of all as I said would be to take a briefcase full of cash to the place hosting your offshore account and deposit it that way. If you don't like the idea of shelling out loads for air fares I'd suggest cashing out your BTC for cash in the mail (I offer this service as well as a good many BTC vendors) and use it to buy a Banker's Draft at any high street bank which you could then mail to your bank.
Ideally we'd have a Bitcoin exchange actually located in an offshore location like Belize or the Caymans to allow for easy withdrawal into a local account but I'm afraid setting that up is beyond me!
V.
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Vlad my fellow financial Playa I hate to break it to you bruv but Belize is NOT where you wana be setting up offshores at the moment and there is several reasons for this. PM me if you wana shoot the shit bro.
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Vlad my fellow financial Playa I hate to break it to you bruv but Belize is NOT where you wana be setting up offshores at the moment and there is several reasons for this. PM me if you wana shoot the shit bro.
Hi Limetless,
I realise that compared to you I am the fool who rushes in compared to your Angel who dares not to tread. I really don't want to overlap with the service you're offering as I freely acknowledge you have much more experience than I do! I am simply offering a way for people to store their savings safely - as I said the easiest way to transfer money to the Offshore account would be from a US bank and as such the proceeds would have to be laundered anyway.
I will send you a message as I'm also not sure what level of detail we should go onto here in the Forums.
V.
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Vlad my fellow financial Playa I hate to break it to you bruv but Belize is NOT where you wana be setting up offshores at the moment and there is several reasons for this. PM me if you wana shoot the shit bro.
Hi Limetless,
I realise that compared to you I am the fool who rushes in compared to your Angel who dares not to tread. I really don't want to overlap with the service you're offering as I freely acknowledge you have much more experience than I do! I am simply offering a way for people to store their savings safely - as I said the easiest way to transfer money to the Offshore account would be from a US bank and as such the proceeds would have to be laundered anyway.
I will send you a message as I'm also not sure what level of detail we should go onto here in the Forums.
V.
Yeah of course dude, I totally understand but Belize is a bit of a black-spot anyway. Want to fill you in on certain things. PM me whenever you are free to chat.
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Hi V,
I'm not an expert in the offshore field, but I do have access to all the needed notarised docs(scanned) that can be used for company setup.
I know an offshore provider which accepts these and allows you to pay by libertyreserve, they've been in biz 10+ years and accept these docs as scans. All legimate scans btw.
If this is of any interest I could sell some of these docs since I have more then I''ll use any time soon. Don't know if this would be of interest since you would probably have to provide them with a shipping address for your banking reader etc..and me knowing which name was used to form a corp.
PM me if you wanna discuss.
EDIT:
Sorry, didn't see this was an advertising thread. If you want I'll remove my message.