Privacy and Anonymity

[cosmopolitan]

Hi


I am a newbie here - so here goes with my first post.


Many people set up an offshore company with bank accounts in the hope of securing anonymity and privacy.


With an offshore company based in the seychelles, this may well be the case, but the tax authorities are less concerned with the company, but more the beneficial owners of a bank account (in the companies name).


Typically the offshore company will have a bank account in another juristiction i.e. Luxembourg, Switzerland or wherever.


More and more so, these countries are giving up information upon request from the tax authorities. Furthermore, before they allow you to open a (company)account, they want to know the beneficial owner.


So, given that there is no banking secrecy these days, how is the ultimate confidentiality and privacy maintained?


Thanks


Cosomopolitan

 

[JohnLocke]

You are wrong Cyprus still maintain the Banking Secrecy and if the offshore company is structured correctly i.e. see this link: Offshore Company Forum - Open bank account in Cyprus, personal or corporate? you may be 95% safe depending on the business activity and the nature of the money transactions.

 

[blainchain]

OK - so it is safe to bank in Cyprus no authority will have access to account holder information, is it what you say?

 

[JohnLocke]

Yes, if the account holder is outside of the EU at least then no information is shared, this most often is accomplished by opening a corporate bank account in Cyprus with a Seychelles company, so it would require a local court order (very difficult to obtain) to get access to account holder information. This don't apply for a personal bank account opened with a Cyprus bank!

 

[stuntbiker]

Well, I personally had no problems yet! I incorporated my company for almost 3 years ago and bank in Cyprus as well, never had any issues.

 

[stuntbiker]

So account holder need to be non EU, does TIEA's or DTA has any impact?

 

[stuntbiker]

I don't believe there is any offshore country left that is offering you a 100% anonymity and privacy. Most offshore countries want to comply with the OECD one way or another

 

[JohnLocke]

Not true, still it is possible to apply 100% privacy to a Seychelles corporation.

 

[forcet]

So privacy is granted in the Seychelles, that's good I read your blog posy about "Why Seychelles" interesting reading.


Also it seems the Seychelles never extended the number of TIEA's at all.

 

[JohnLocke]

So far the Seychelles didn't signed new TIEA's but that's not a guarantee for what will happen in the future, actually there are no plans to sign more...

 

[Spinat]

You are wrong Cyprus still maintain the Banking Secrecy and if the offshore company is structured correctly i.e. see this link: Offshore Company Forum - Open bank account in Cyprus, personal or corporate? you may be 95% safe depending on the business activity and the nature of the money transactions.

I whish this never changed. This world is controlling every human after all. You are forced to methods which can bring more trouble then benefit

 

[clemens]

There are always work arounds like the BIG corps. use for all of us, the question is how to find and use them.

 

[Spinat]

We need to find more solutions to stay under the radar. The Baltic guy we discuss in the mentor group is the second best after darks, because it is possible to get new stuff signed and copied all the time.