Euro Pacific Bank SEPA MasterCard AEOI / CRS?

fuorissimo

Active Member
Bank won't be around much longer I predict so card issues is least of your worries smi(&%. I have a prediction in another thread that EPB will be dead by end of 2019.

The world is a different place now for banking. I can't get my head round EPB's management strategy of avoiding CRS and allowing shell companies conf/(%

I understand your distrust, so am I too. In fact, I'm thinking of opening a Delaware LLC, flying to the US and opening a bank account in STATES. I am an Italian citizen, I do not live in the USA and I do business outside. It's the best solution, don't you think?
 

fuorissimo

Active Member
EPB allows 750 EURO / daily withdrawal.
10k max. load limit.
10k max daily charge limit.

I can't understand if the card, with UK issuer, has CRS risks.
BVI> EPB BANK ACCOUNT> UBO DEBIT CARD.

The account debited is the one of the BVI, but the debit card is in my personal name. UK Card issuer, reports the BVI, myself, both? Who?

Does anyone have this answer?
 

Martin Everson

Offshore Consultant
Business Angel
It's the best solution, don't you think?
I disagree 100%.

That would be basically dangling your nuts in a lions mouth. Never deal with U.S directly ever if you can avoid it. I have covered teh subject in other posts extensively dealing with U.S if you search forum. I have nothing good to say about ever putting money in the U.S banking system and entangling your financial affairs with U.S and making yourself indirectly subject to U.S extraterritorial laws especially if you deal with crypto.

However everyone makes their own decisions.
 

Mark Rucken

Building Trust
Entrepreneur
I disagree 100%.

That would be basically dangling your nuts in a lions mouth. Never deal with U.S directly ever if you can avoid it. I have covered teh subject in other posts extensively dealing with U.S if you search forum. I have nothing good to say about ever putting money in the U.S banking system and entangling your financial affairs with U.S and making yourself indirectly subject to U.S extraterritorial laws especially if you deal with crypto.

However everyone makes their own decisions.
But there is absolutely no chance IRS will tax Italian citizen in the US ... his LLC can not be taxed in the States, period. What the US bank can do is report to Italian tax authorities that he has an LLC with pass-through taxation and that he should report his LLC's income as his own, to Italian tax authorities. But when it comes to taxation in the States and IRS ... he is good.
 

Martin Everson

Offshore Consultant
Business Angel
But there is absolutely no chance IRS will tax Italian citizen in the US ... his LLC can not be taxed in the States, period. What the US bank can do is report to Italian tax authorities that he has an LLC with pass-through taxation and that he should report his LLC's income as his own, to Italian tax authorities. But when it comes to taxation in the States and IRS ... he is good.
Who said anything about tax or IRS? Did you actually read my reply you commented on?ns2
 

bombastick

New Member
Hello. Sorry, I'm pretty much a newbie but I have some doubts.
First of all, yes, I read the previous threads regarding EPB and I see you always point out it's not a safe jurisdiction.
The EPB data leak happened in October 2018 and was affecting Dutch nationals. As far as I read, the main problem here was tax evasion, so nothing affecting in a serious way the EPB bank business (it's a customer problem if he does declare or not to dutch authorites he has an offshore bank account...). Not the first time a data leaks happends.
About the other problem - FBI cracking down on Puerto Rico banks in april 2019 - apparently this issue did not affect the banks that already had a fedwire account as reported by reuters Exclusive: New York Fed cracks down on Puerto Rico banks following...
Also the BSJI, that was their primary target, is still operating.
I admit Puerto Rico is pretty much a weak jurisdiction, but after all is always a US territory so killing their whole offshore banking industry would have negative effects on the whole US economy IMO. And frankly speaking, US don't give 2 cents about tax evaders from Europe, Asia, Africa etc. as long as they are not countries in their black list like Venezuela, Iran, Syria, etc.
I'm curious about something: EPB is offering since long time the possibility to convert your money into gold or silver deposits ar Perth mint in Australia. If somebody would convert his cash into gold, in the eventuality EPB bank would go down, would the money be safe or not?
 

Martin Everson

Offshore Consultant
Business Angel
First of all, yes, I read the previous threads regarding EPB and I see you always point out it's not a safe jurisdiction.
Puerto Rico is a bankrupt country where a large percentage of the population has fled....lol.

As far as I read, the main problem here was tax evasion, so nothing affecting in a serious way the EPB bank business (it's a customer problem if he does declare or not to dutch authorites he has an offshore bank account...).
Supporting tax evasion is the core bank business of Europacific bank...lol. That is 99% of their business and clients...lol. Their clients fall into two categories as I say here over and over again 1) Avoiding CRS 2) Need a bank account for an offshore shell company they can't open an account for anywhere elsewhere..lol

I admit Puerto Rico is pretty much a weak jurisdiction, but after all is always a US territory so killing their whole offshore banking industry would have negative effects on the whole US economy IMO.
In what way will U.S killing their offshore banking industry in bankrupt PR affect U.S economy and the 22trillion debt pile?

If somebody would convert his cash into gold, in the eventuality EPB bank would go down, would the money be safe or not?
Why would you keep gold with a opaque bank like EPB in a bankrupt jurisidiction? That's like giving your money to a crackhead to manage from his crackhouse. Why would you go to EPB to get access to Perth Mint? You can buy the Perth Mint's own ETF they offer directly which is cheaper, safer and convertible to gold with them or buy and hold with Perth Mint directly. Why use EPB for this.....lol.

 

fuorissimo

Active Member
I disagree 100%.

That would be basically dangling your nuts in a lions mouth. Never deal with U.S directly ever if you can avoid it. I have covered teh subject in other posts extensively dealing with U.S if you search forum. I have nothing good to say about ever putting money in the U.S banking system and entangling your financial affairs with U.S and making yourself indirectly subject to U.S extraterritorial laws especially if you deal with crypto.

However everyone makes their own decisions.

Excuse me, the EPB bank is not as good as Puerto Rico. The USA is not going well ... What remains serious, outside the CRS? Anything.
 

fuorissimo

Active Member
I don't do business with the US. I only have to:

- sell my crypto
- have an account with a debit card
- possibly buying a property in the US, registered to LLC Delaware.

Between BVI companies + EPB BANK ACCOUNT and DELAWARE + US BANK ACCOUNT, I think the second case is much better.

I live and am a European citizen, in the US I never even went.

Alternatively, give me some courtesy advice
 
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