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buddyjuf

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#1

Cypress bank accounts?

08-23-2003, 10:57 PM

Cyprus bank accounts
I hear its a 1-time opening fee,
you get a bank account and do any transfers you want
pay no taxes for the rest of your days (until the govt. outlaws it or something)

an accountant I met in Cali told me this

anybody have info they can add? I am very interested since I dont want to give 50+% to the Canadian government and I dont want to move to the USA either...

your input is appreciated!
thanx in advance!

Last edited by Guest; 08-23-2003, 11:05 PM.
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#2

08-23-2003, 10:58 PM

they share all info with the US I dont know who told you this bullshit, the IRS has an office in cyprus

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#3

08-23-2003, 11:01 PM

nah too dodge
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buddyjuf
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#4

08-23-2003, 11:02 PM

dont swiss bank accounts offer the same thing?
but with a monthly fee?

Im not too good with banks, Im just telling you what people have told me in the past
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#5

08-23-2003, 11:07 PM

Originally posted by bdjuf
dont swiss bank accounts offer the same thing?
but with a monthly fee?

Im not too good with banks, Im just telling you what people have told me in the past

and globill does not have the 750 dollar fee

there are certain things in business you dont nickle and dime, if you do buy KY in bulk thats also a one time fee.

Be very careful with ofshore stuff and spend money to set it up its not as simple as some put it

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#6

08-23-2003, 11:08 PM

"The fact that there is a minimal tax of 4.25% on annual net profit, rather than none at all, is on the whole, an additional advantage, as it prevents Cyprus from being considered a tax haven."

got that info from http://www.taxhavenco.com/osm/europe-cyprus.html
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lexr

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#7

08-23-2003, 11:25 PM

I don't know how Canada works, but in the US you have to pay taxes regardless of whether or not the income is reported to the IRS. It is your obligation to report it and pay the appropriate taxes.

Why risk your business or cash flow by risking tax evasion?

Remember, they got Al Capone on tax evasion charges!

I'd use offshore bank accounts and investments purely for safety reasons. Nothing else.

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#8

08-23-2003, 11:26 PM

Originally posted by lexr
I don't know how Canada works, but in the US you have to pay taxes regardless of whether or not the income is reported to the IRS. It is your obligation to report it and pay the appropriate taxes.

Why risk your business or cash flow by risking tax evasion?

Remember, they got Al Capone on tax evasion charges!

I'd use offshore bank accounts and investments purely for safety reasons. Nothing else.

but I dont wanna
canada will take more than 50%
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#9

08-23-2003, 11:33 PM

Originally posted by bdjuf

but I dont wanna
canada will take more than 50%

Do you think the government runs on air?

Only two things are certain in life, taxes and death. Pay up, or you'll get caught.
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#10

08-23-2003, 11:42 PM

Thank GOD I am in Canada!

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#11

08-24-2003, 12:48 AM

Originally posted by bdjuf
"The fact that there is a minimal tax of 4.25% on annual net profit, rather than none at all, is on the whole, an additional advantage, as it prevents Cyprus from being considered a tax haven."

got that info from http://www.taxhavenco.com/osm/europe-cyprus.html

If I'm correct it was 4,25% few years ago. Now it's 10%.
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#12

08-24-2003, 03:25 AM

forget cyprus theyre gonna be a part of the european union officially soon and yes things will change then, same ppl same way of working but other countries will be able to look into accounts etc, itll be difficult but will be possible. forget cyprus. btw swiss accounts are $300k and up only check the limits and terms before you want to get one in any country

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#13

08-24-2003, 05:22 AM

Hello

I am from Cyprus and as I know some things are going to change since Cyprus Will join the EU.

Here is the link of a very good bank http://www.laiki.com/
I know they have a limit of $6k for every 6 months. You can not wire out from the bank more than $6k.
If you are an offshore company in Cyprus then things are different. I think you pay only 10% for taxes.

Good Luck

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KingK7

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#14

08-24-2003, 05:34 AM

Get a swiss acct.
UBS
best fucking bank in the world.
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#15

08-24-2003, 05:38 AM

Originally posted by KingK7
Get a swiss acct.
UBS
best fucking bank in the world.

It isnt so easy .
You must have many money to get one account in there

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#16

08-24-2003, 05:38 AM

Originally posted by IMP^or^SNiTL.e
nah too dodge

STFU n00b

You feel like you have to post an idiot reply to EVERYTHING?
Idiots with SWOIT sigs having an opinion on offshore accounts...nigga please...
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#17

08-24-2003, 05:39 AM

get one in Monaco

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#18

08-24-2003, 05:42 AM

Originally posted by cotsios

It isnt so easy .
You must have many money to get one account in there

Yeah, but if you do, there is no better bank in the world.
Service is EXCELLENT, and the e-banking is SUPERB.
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#19

08-24-2003, 07:56 AM

Originally posted by KingK7

Yeah, but if you do, there is no better bank in the world.
Service is EXCELLENT, and the e-banking is SUPERB.

Do you have an account there?

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#20

08-24-2003, 08:09 AM

Regarding a Swiss bank account, I do not know if it is as easy for people from the USA or Canada as it was for me (I am from the Netherlands), but I could easily set up a bank account with Swiss Post (Postfinance). No hassle, no minimums, internetbanking..

It is just a standard account, which I will use there because I bought a holiday house. If you start moving around high amounts of money it might be more difficult though. (I haven't tried ;-)
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#21

08-24-2003, 08:31 AM

ICQ me if you wanna know about offshore, I'm an expert on it

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KingK7

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#22

08-24-2003, 11:16 AM

Originally posted by cotsios

Do you have an account there?

Yeah, been with them 5 years.

Their e-banking is incredible, can pretty much do anything with it.
Multiple currency accounts, easy to move funds between them, great credit cards in various currencies, and their service is personal and excellent.
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#23

08-24-2003, 11:51 AM

It's not hard for a US citizen or a Canadian citizen to open a UBS account or even to wire millions and millions of dollars in. The thing is, that they'll require you to be there physically when you open the account so that they can get all your ID info and such. Also, if you're sending more than 500,000 CHF (that's Swiss Francs) then they require a disclosure from you detailing the source of your income (at least, most banks do).

But if you're legit, then they welcome your business.

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lexr

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#24

08-24-2003, 11:54 AM

And yeah, like KingK7 said.. UBS owns.

But I still suggest you pay your taxes bro. Put money offshore only for investment safety reasons (for just in case) but not for tax evasion reasons.

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#25

08-24-2003, 01:38 PM

This is a Cyprus "Insurance" company.
You get a life insurance but other than that it's actually a bank.
So, if Cyprus joins EU, the banking laws doesn't apply.
They also have all their funds in Swizz and they do not report anything to anyone.

You can save in either a "interest" account 3,5% just now
or in stocks and they have creditcards for you and wiretransfers.

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