Offshore Corp Asset Protection? - GoFuckYourself.com

pornopenguin · 02-05-2008, 06:43 PM

My reasons for wanting to go offshore are to avoid the celebrity attorneys that just want to make some quick money by scaring you with C&D. My feeling is that if they see you are offshore they will be much less likely to pursue anything since it would require actually filing papers in that actual country. I may be mistaken about this but I have always been told if they can't find you they can't sue you. In regards to tax reduction why can't I have offshore merchant accounts, bank accounts and simply make trips over to the country with a few friends each bringing back $!0k in cash (which last I checked was the amount you didn't have to declare with customs) In addition I could purchase precious metals and other things of value. Since there should be no record of this wouldn't this amount of money be "taxfree'"? After which I would then file US corp taxes for a much lesser amount as to not wonder how I am supporting my "lifestyle" It's obvious they will follow bank transactions and such but since I physically got the money there would be no record of me bringing it over. Am I way off here or is somewhat of a "solution"

DaddyHalbucks · 02-05-2008, 06:46 PM

Way off. The feds have cracked down hard on offshore loopholes.

Better to go legit.

pornopenguin · 02-05-2008, 07:04 PM

What about in regards to avoiding the celebrity attorneys and the C&D bullshit?

polish_aristocrat · 02-07-2008, 09:56 AM

bump 4 you

TheDoc · 02-07-2008, 10:15 AM

You aren't getting out of taxes unless you leave the country and give up your citizenship. You can do things to reduce the tax though.

If you setup a company offshore and don't want to pay taxes, it has to have more employees than your US company, have an office, ect. Either way, if you make money, it's still taxable income.

You can use these services for gold exchange, which does drop off the market for tracking. But you need some foundations to bring that money back in and that's where shit starts to get complicated.

If it's for more asset protection, check out Las Vegas corps. They can be owned by a lawyer, they mail you the checks, stamps, ect.. but they retain ownership. This is more to protect you from your neighbors, or your main company losing a fight, but not for anything illegal or border line.

02-05-2008, 06:43 PM	#1
pornopenguin Registered User Join Date: Jan 2005 Posts: 69	Offshore Corp Asset Protection? My reasons for wanting to go offshore are to avoid the celebrity attorneys that just want to make some quick money by scaring you with C&D. My feeling is that if they see you are offshore they will be much less likely to pursue anything since it would require actually filing papers in that actual country. I may be mistaken about this but I have always been told if they can't find you they can't sue you. In regards to tax reduction why can't I have offshore merchant accounts, bank accounts and simply make trips over to the country with a few friends each bringing back $!0k in cash (which last I checked was the amount you didn't have to declare with customs) In addition I could purchase precious metals and other things of value. Since there should be no record of this wouldn't this amount of money be "taxfree'"? After which I would then file US corp taxes for a much lesser amount as to not wonder how I am supporting my "lifestyle" It's obvious they will follow bank transactions and such but since I physically got the money there would be no record of me bringing it over. Am I way off here or is somewhat of a "solution"

02-05-2008, 06:46 PM	#2
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Way off. The feds have cracked down hard on offshore loopholes. Better to go legit. __________________ Boner Money

02-07-2008, 09:56 AM	#4
polish_aristocrat Too lazy to set a custom title Join Date: Jul 2002 Posts: 40,377	bump 4 you __________________ I don't use ICQ anymore.

02-07-2008, 10:15 AM	#5
TheDoc Too lazy to set a custom title Industry Role: Join Date: Jul 2001 Location: Currently Incognito Posts: 13,827	You aren't getting out of taxes unless you leave the country and give up your citizenship. You can do things to reduce the tax though. If you setup a company offshore and don't want to pay taxes, it has to have more employees than your US company, have an office, ect. Either way, if you make money, it's still taxable income. You can use these services for gold exchange, which does drop off the market for tracking. But you need some foundations to bring that money back in and that's where shit starts to get complicated. If it's for more asset protection, check out Las Vegas corps. They can be owned by a lawyer, they mail you the checks, stamps, ect.. but they retain ownership. This is more to protect you from your neighbors, or your main company losing a fight, but not for anything illegal or border line. __________________ ~TheDoc - ICQ7765825 It's all disambiguation

02-05-2008, 07:04 PM	#3
pornopenguin Registered User Join Date: Jan 2005 Posts: 69	What about in regards to avoiding the celebrity attorneys and the C&D bullshit?