Best offshore country with bank for this type of operation

[OffShore1950]

Hello to everyone,
I've a situation and want to know if someone can help me. I receive bank transfer from third part Business account or third party Personal account and I save this money. I don't want to do it in my country because I don't want to pay taxes and I don't want to ask me where this income comes. So I'm looking for some offshore country which I don't need to do accountant or need to report any sale (or can report without paying taxes). I know in some jurisdictions like Granadines or Belize can do this but I want to have bank account in some good country (the bank account will be opened by the offshore company) for example in Swiss or Luxemburg... Income monthly is 20k euro and total assets of this company will be around 250k euro. The UBO, it's me, and I've citizenship from European union country. Maybe I can act as director of the company so I can open easily the account...

Thanks, have a nice day!

 

[Sols]

Unfortunately, you're many years too late for anything like this to work. Tax authorities and regulations have caught up with the offshore sector.

The "good news" is you might not need to report anything yourself — because reporting is done automatically now under EUSD (EU Savings Directive) and CRS/AEOI (Common Reporting Standard, Automatic Exchange of Information). A bank account that you control or are UBO of will end up reported to your home country, where your tax authority will quickly learn about it. Nominees won't cut it.

These days, the only sensible way to save on taxes for people without massive wealth is to relocate. For EU citizens who can move around freely in the union, Cyprus, Malta, Ireland, and Portugal are examples of popular jurisdictions with different forms of tax advantages. You could be living a very comfortable life with this type of income in those places. But that's if relocating is doable for you. If you can't move, you're out of legal and/or sustainable options.

For the amounts mentioned, there are practically no banks in Switzerland and Luxembourg that would open an account for an offshore or even intra-EU/EEA but non-resident company. CIM Banque in Switzerland might be the only exception. But you'd not be looking at any tax savings.