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How to get the money back home

OffInvest

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Mar 20, 2013
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Hi all,


thank you for the advices you offer. You are all very helpful and knowledgeable.


I have read in some posts that you advise people who have offshore companies in a jurisdiction, a bank account in another place and live in a third place not to bring the money where they live.


Then, do can they get it? I see the option to pay salaries, wages, etc. but what is someone wants to deposit an amount to his "home" bank. Wouldn't make sense to transfer money back home?


Thanks again
 
Your options will depend on what tax legislation is applicable to you, but generally speaking, income from offshore companies must be declared and are usually subject to some form of taxation. Some choose to pay themselves dividends, while others opt for salary. There are many ways of doing it.


The more clandestine approach is to withdraw money in an ATM using a non-personalized (anonymous or semi-anonymous) debit card or travel abroad, withdraw cash, and travel home.
 
Thanks Zqq,


both approaches have pros and cons.


Now that you mentioned the non-personalised cards, I have read about them but do they really have no name on it? Can you use them to buy something in a store or they are just for money withdraw? Are they really untrackable?


Sounds strange to me.
 
OffInvest said:
Now that you mentioned the non-personalised cards, I have read about them but do they really have no name on it? Can you use them to buy something in a store or they are just for money withdraw?
Yes.

OffInvest said:
Are they really untrackable?
For all intents and purposes - yes. Technically - no, they can be tracked. If the authorities pressure the issuer to reveal information about the card holder, your details may be released. This is a tall order, though.
 

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