Quote:
Originally Posted by TheJimmy
Well unless I was going to 100% physically move offshore I'd not consider it. Reason is simple...friend of the family is in the US Treasury dept and, well, let me be blunt, unless you are hand carrying cash piles to different countries under the radar you are sending up huge fucking flags that can be seen....don't kid yourself in a post 9/11 world...money is heavily watched. If you do it right, great, if you do it shady --- grab those ankles.
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Not sure where you are from man, but for US citizens - this is not an option to move OS and not pay any taxation. There are annual filings required and these include interests/income from OS corps. This demolishes the whole concept of OS in that the privacy element is removed when there is a requirement to state details on IRS forms etc.
Legitimate money movements are not a problem and all offshore banks will want declarations for any movement of around $10,000 or more. Can't see a need to carry cash and agree that would attract attention almost everywhere if it was high values.