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  1. #1
    gwi
    gwi is offline New Member
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    Default Offshore banks for gambling business

    What is your experience? What is the best bank for this business offshore?

  2. #2
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    I live offshore.. in Costa Rica.. and you have to remember that you have to declare your offshore assets to the IRS every year.. "TD F 90-22.1" form every year. Most international banks reports interest and deposits anyway.. The international banking "umbrellas" have gone completely. I don't recommend hidding your assets. BUT I heard Singapore and Luxenburg were some of the last heavens for shelters.
    I know nothing else about that.. but good luck.

  3. #3
    OffshorePrivacy is offline New Member
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    There are offshore structures designed for North Americans that protect the clients identity and eliminate the need to declare an offshore bank account or foreign controlled corporation.

    The most popular is the use of a Panama Foundation with a offshore IBC from Panama or Belize. The legal distinction is the foundation does not have owners or beneficial owners, only beneficiaries. The IRS/Revenue Canada require declaration of offshore accounts where you are the beneficial owner.

    As a further step to absolutely protection your identity you can use nominee banking service with our lawyers in Panama, so that there is no link back to the clients and even includes an anonymous debit card for withdrawing.

    Yes it is true it is extremely difficult for North Americans, but nothing is impossible.

  4. #4
    PatriciaRome is offline Public Member
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    Very difficult for North Americans but far from impossible. It is just taking more and more time.

    Top American lawyers tell most of our affiliates to use offshore accounts and declare the money. They say to declare it to clear them from all wrong doing but to actually leave the some funds in an offshore account incase there is a major problem - it is tough to seize that account.

  5. #5
    OffshorePrivacy is offline New Member
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    Quote Originally Posted by PatriciaRome View Post
    Very difficult for North Americans but far from impossible. It is just taking more and more time.

    Top American lawyers tell most of our affiliates to use offshore accounts and declare the money. They say to declare it to clear them from all wrong doing but to actually leave the some funds in an offshore account incase there is a major problem - it is tough to seize that account.
    It is extremely difficult to seize corporate bank accounts in certain jurisdictions without presenting the local court a bona fide criminal charge with supporting evidence. Note that tax related issues is not sufficient cause to seize a bank account in most jurisdictions.

    In our years of service to the offshore incorporation and banking industry it has never happened to a single client out of hundreds and hundreds.

    The risk really applies to people who obtain personal accounts and then transfer funds from an onshore account to an offshore account. Additionally, Mastercard and Visa provide a list of offshore clients that have US mailing addresses to the IRS. There are obviously solutions to this, like an anonymous Mastercard with 100,000 a month withdrawal ability.

  6. #6
    PatriciaRome is offline Public Member
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    Offshoreprivacy-

    Here is another question I get from affiliates all the time:

    "How safe are the offshore debit cards"

    Now I am assuming that some people delare the cash they pull out - some don't. In what scenario would the use of these crds end up bitting them in the behind some day?


    Patricia

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