The only real way to grant a total privacy.

[Hugevaluable]

First, i would like to thanks everybody from that forum because i'm reading through since almost 7 months and i learned a lot from it and from my personal research.


I've looked at the game in every sens, checked at hundred different set up, less or more complicated, with less or more juridictions, etc.. but i always came up to the conclusion:


If you're considering to do tax evasion from your home country, there is absolutely no way for you to be granted of a real 100% privacy. It's simply just you - and your chance. Your chance is depending on how much your tax system will have a taste to look after you, but make sure that if they are smelling you and want to go after you: you will get burned. So it's simply nothing else than a hide and seek game, but don't expect about privacy on incorporating company on other company etc... Your tax system will not play with that, they will simply ask straighly to the bank who's the UBO (Ultimate Beneficial Owner) and as far i understood well - there is no way to bank without giving that information to a bank.


So the real only solution, is that to use a bank nominee to open the final bank account in his name ? Including the risk that he will be escaping with your money. Even if you can make sure that he doesn't know where the bank account is open, etc ..


If you are not planning do tax evasion, but tax optimisation: you should go to see an expert and to set up a legitimate and regular set up which will be legal and provide you substancial sparing of money. But those set up are expensive, and it's valuable only if your business are making good earning. It's out of interest for small business as the fee of a qualified lawyer ruins all your benefit.


That's my opinion, i'm not an expert and only a contributor.


If anyone have a different opinion, i will more than happy to hear from it and to learn from the exchange.


Regards.

 

[Zqq]

If you're considering to do tax evasion from your home country, there is absolutely no way for you to be granted of a real 100% privacy. It's simply just you - and your chance. Your chance is depending on how much your tax system will have a taste to look after you, but make sure that if they are smelling you and want to go after you: you will get burned. So it's simply nothing else than a hide and seek game, but don't expect about privacy on incorporating company on other company etc... Your tax system will not play with that, they will simply ask straighly to the bank who's the UBO (Ultimate Beneficial Owner) and as far i understood well - there is no way to bank without giving that information to a bank.
So the real only solution, is that to use a bank nominee to open the final bank account in his name ? Including the risk that he will be escaping with your money. Even if you can make sure that he doesn't know where the bank account is open, etc ..

There is another option: bank in a jurisdiction which has banking secrecy and does not disclose information to the authorities of your country of residence.

 

[Hugevaluable]

Do you have an idea of which can be those juridiction for a E.U resident ? as under the pressure of OCED, they almost all signed treaty.

 

[Zqq]

Look at former Soviet Union countries, the Middle East, Africa, and even Asia. Many jurisdictions there lack agreements with western nations or have only very old agreements that do not provide disclose of information.


Lebanon, for example, was discussed in a different thread here recently. It has, to my knowledge, not signed a single TIEA and none of its DTAs contain provisions for disclosure of information, nor does it appear interest in signing anything.


You can use OECD's own website, Exchange of Information Portal (not 100% up-to-date), to get a quick overview.

 

[Hugevaluable]

I was at the origine of the thread about Lebanon


Thanks for those informations, i clarified the things and noticed that Seychelles has not signed TIEA with my home country.


Do you know if their Banking Secret is strong enough ? And globally if it's good idea to bank there, with incorporating there.

 

[Zqq]

You can find the legislation on the Central Bank of Seychelles' website: Central Bank of Seychelles | CBS Legislations


Edit: Correction. You can find it on the Seychelles International Business Authority's websites: http://www.siba.net/index.php?s=offshore-banking


It outlines a fairly strict banking secrecy.


Banking in the Seychelles is not exactly my favourite but I know many who are happy with it. I'd say it's quite similar to the Caribbean in terms of fees, waiting times for wires, and customer service, but the Seychelles is a bit behind when it comes to card services.