100
-
-
Page 3
Comment
-
This is getting too funny!!
XXX TLD's - Another mosquito to swat.Comment
-
the purpose of nominee directors is to obscure the ownership. otherwise you yourself would also be a director. but your not. presumably NOT because you are trying to hide something even though you suggested that you were with your "not even a judge could find out who..."In answer to your question - offshore companies in this instance come complete with nominees. That is what an offshore company normally has.
hint again - whois.The above remark is definately an "onshore" comment with utter nada qualification.
You have vaguely referred to "very long lists", the typical "how it is illegal" and crap like that.
Now you are being typically ... well... you. As its been said many times already, It does not matter what countries do not have income taxes. You are still requried to pay taxes as a US Citizen. You can live in Brunai or anywhere else and that does not mean you are not required to file in the US.It may take some time... but there are a good number of countries where taxes are not applicable - it is not ususal and it is legal. (I am beginning to think you are in the US somehow *g*)Comment
-
webby,
when most people talk about offshore corps they are looking to avoid/minimize taxes.... so to jump in a debate about Canadian taxes when you know nothing about them is not smart....
you may know some of the nuts and bolts about incorporating in a foreign country but you don't know about the issues which are REALLY important.. which is how the country's tax organization (Revenue Canada / IRS) would look at the setup.Comment
-
Pleasurepays:
Oh sheesh!! :-) No.. I have no reason to hide anything. Also, in the stucture I am thinking of, nominees are part of the deal. I don't care much whether they are there or not - however, they are there, so they are used. Tis simple! :-)the purpose of nominee directors is to obscure the ownership. otherwise you yourself would also be a director. but your not. presumably NOT because you are trying to hide something even though you suggested that you were with your "not even a judge could find out who..."
I picked up the hint the first time!!hint again - whois.
I hear ya and understand situations are different in each case :-)
Yes.. I totally agree about US folks... (I never ever said otherwise) - they are up shit creek before they made that first tax payment. However the rest of the world (least the vast majority) - does not have this tax baggage and reporting requirements.Now you are being typically ... well... you. As its been said many times already, It does not matter what countries do not have income taxes. You are still requried to pay taxes as a US Citizen. You can live in Brunai or anywhere else and that does not mean you are not required to file in the US.
For us.. and most of the rest of the world, it does matter what countries do not have taxes, since this is a clear advantage.
Tho... despite the "discussion" - I reckon ya know this crap well!
XXX TLD's - Another mosquito to swat.Comment
-
Pleasurepays:
Just a comment! :-) I went your route many years ago - that route has a load of unnecessary baggage and, least from our experience - loaded with Blue Chip advisors (with matching fees) that never did actually give "real" good advice. They were too closely allied to the "onshore syndrome" :-)XXX TLD's - Another mosquito to swat.Comment
-
you can't possibly know what "my route" is because you have no idea what the business of the company is, its assets are, its investmetns are, its principals, subsidiaries etc. the whois is a subsidiary of a larger company with very diverse interests world wide.Originally posted by Webby
Pleasurepays:
Just a comment! :-) I went your route many years ago - that route has a load of unnecessary baggage and, least from our experience - loaded with Blue Chip advisors (with matching fees) that never did actually give "real" good advice. They were too closely allied to the "onshore syndrome" :-)
each situation is unique and the requirements of each are unique.
;)Comment
-
Pleasurepays:
The "intro" to it said enough - hence my comment. Hell.. I am well aware a "structure" is not necessarily one company!you can't possibly know what "my route" is because you have no idea what the business of the company is, its assets are, its investmetns are, its principals, subsidiaries etc. the whois is a subsidiary of a larger company with very diverse interests world wide.
Tis what is suitable for whatever purpose and end result!XXX TLD's - Another mosquito to swat.Comment
-
BTW... Last thing I want to know or you want to say is the business.. it's assets, principals, investments and subsidiaries!!
Why would anyone want to know that? OK - some may, but tell em to fuck off!
XXX TLD's - Another mosquito to swat.Comment
-
I wonder how much money it would take for someone to renounce their Canadian citizenship completely?
I probably wouldn't do it unless it meant an extra $100K US in my pocket yearly.
Bad Girl Bucks - 50% Revshare through CCBill.
Promote BrandyDDD, Pixie's Pillows, Action Allie and more!
Phoenix Forum Pics | Webmaster Access Montreal pics
email: psyko514(a)gmail.com | icq: 214-702-014Comment
-
btw... you don't have to renounce your citizenship.....you can cease to be a resident for "tax purposes" without doing that.
In order to no longer be considered a resident, you have to move away for 2+ years and cut off all your ties with Canada..... such as selling your home, etc..... not sure if you have to wind up your RRSP's or not... but possibly. There are other factors to consider when they determine if you cut your ties with Canada.... you can look at Revenue Canada's website to get a list.Comment
-
psyko514:
Why you asking that psyko? You thinking that will dump your taxes?I wonder how much money it would take for someone to renounce their Canadian citizenship completely?
If so.. na... you don't renouce citizenship for that reason. I've still got my "home" citizenship. The main thing is that you don't actually live in, for example, Canada.
There are plenty Canadian folks where I am and they are not "residents" of Canada, but hold citizenship - they don't pay taxes here or in Canada.XXX TLD's - Another mosquito to swat.Comment
-
Steve Martin has the answer (from an old album of his)...
"two simple words in the english language...I forgot...I forgot to pay my taxes"
Comment
-
I'm far from making enough to have to worry about it. I guess I just misunderstood what you guys were saying
Bad Girl Bucks - 50% Revshare through CCBill.
Promote BrandyDDD, Pixie's Pillows, Action Allie and more!
Phoenix Forum Pics | Webmaster Access Montreal pics
email: psyko514(a)gmail.com | icq: 214-702-014Comment
-
psyko514:
Something... just as a guide! :-) It's not all about "not paying taxes" - I got no problem with paying taxes wherever I live.
It's more, least for me, to do with "quality of life". There is a vast difference in climates where I live now in comparison to my "home country". There are also lot's more benefits to being "offshore" than living (least I was) in a "civilized" country.
Since we moved offshore... there is not one reason any of us has any desire to move back, apart from to see friends and family.
Over time, folks back in the home country find out where you are end it ends up a permanent guest house here :-) In the last year or so many of these guests - about 25 families - have now decided to "get out" and move here with us. The reasons are the same for them - they have seen the place and want some quality life.
So... tis not just about money :-)
PS.. Tis also an "excellent" lifestyle for webmasters!XXX TLD's - Another mosquito to swat.Comment
-
I'm very emotionally attached to Canada. I'm very patriotic. It would be hard for me to leave, despite the cold and the politics.
Bad Girl Bucks - 50% Revshare through CCBill.
Promote BrandyDDD, Pixie's Pillows, Action Allie and more!
Phoenix Forum Pics | Webmaster Access Montreal pics
email: psyko514(a)gmail.com | icq: 214-702-014Comment
-
The rate is quite high, if you hit that sweet spot of profit, you're looking at a very low tax rate. In fact, 6 years ago I incorporated in the states and this new rule comes out...In the end, the governemnts are just playing with you. A few years of a break, then a few years of high taxes. Then you have to take the money out as personal income or else pay the AMT tax...the best long term solution is to get out of the system..offshore...but do it legally and correct and keep it ARMS LENGTHOriginally posted by Monk
good point!! That is on the first $300,000.... after that the rate goes up to 45-50%, depending on your province.Comment
-
what everyone fails to understand in this thread is that ownership and control are 2 separate concepts. Those who understand this very high-level idea, these people will know what to do...everyone else can argue about nominee directors and all that crap and I can tell you they are all right - NONE of it works and you will get into trouble eventually. Remember control vs. ownership. I'm not going to say anymore because this stuff doesn't belong on GFY!Comment
-
-
psyko514:
OK.. A story! The abbreviated version :-)I'm very emotionally attached to Canada. I'm very patriotic. It would be hard for me to leave, despite the cold and the politics.
I was pretty much the same as you!
Originally we toured the world getting good tax advice and bad - in an effort to be "legal" and still retain as much as possible of the funds we were earning. Money was the initial motivator.
The only "real" way of doing that was to move offshore. At first a couple of us were gonna do this and the rest just work back home and pay taxes on earnings.
But within a day... everyone wanted to leave *g* So we cut all ties and left and worked our way around a few exotic locations and had a good time till we settled here.
Tho there is no reason anyone "should not" go back and live in the home country, we have never found a valid reason why we should.
Apart from these taxes *s*... the cost of living here is silly, the climate always good, the people are far more friendly than back home and nobody is chasing you to fill in "official forms" and that crap. Tis just a more sensible existance :-)XXX TLD's - Another mosquito to swat.Comment
-
scorpion3600:
I'm not going to say anymore because this stuff doesn't belong on GFY!
*GRIN* True!!XXX TLD's - Another mosquito to swat.Comment
-
does anyone actually know how many years they could get for tax evasion of even a few thousand dollars? if you don't, i'd advise you look into it and see whether it's worth the risk.
rabbitComment
-
carbondream:
Forget em years - one day is too much!!does anyone actually know how many years they could get for tax evasion of even a few thousand dollars? if you don't, i'd advise you look into it and see whether it's worth the risk.
Nobody can live in a country and just think they can flout the laws "depending" - first rule is "abide by the laws of the country in which you live".
Otherwise, for the less amateurish - there are "options".....XXX TLD's - Another mosquito to swat.Comment
-
Well the thing is; if you do or don't i want to pay as less tax and possible! They fuck us good up here!Originally posted by psyko514
I'm far from making enough to have to worry about it. I guess I just misunderstood what you guys were saying
Comment
-
Nydahl is right.Originally posted by Nydahl
ok guys I am sorry to say but its clear that you have 0 experiences.
fact # 1 - good working offshore structure won't cost you more then 2000 USd including bank acc set up.
fact # 2 - your name/passport won't appear anywhere.If your registrant agent is clever and handfull enough then you are just shareholder (means fully annonymous owner) of the offshore comp.
fact # 3 - I know what I am talking about and thats the difference between you and me"There he goes. One of God's own prototypes. A high-powered mutant of some kind never even considered for mass production. Too weird to live, and too rare to die." -Hunter S. ThompsonComment
-
Originally posted by Rich
Use E-Gold.
Comment
-
Webby
What country do you live in?Comment
-
Grenada has closed down their Econimic Citizen Program... only Dominica and St Nevis are solid right now.Originally posted by Nydahl
what to say - maybe offer Grenada passport for 10k?"There he goes. One of God's own prototypes. A high-powered mutant of some kind never even considered for mass production. Too weird to live, and too rare to die." -Hunter S. ThompsonComment
-
That's bullshit if you pick the right jurisdiction. Don't go with BS juridictions that work hand in hand with the OECD or USA like Bahamas or Caiman Islands.Originally posted by yys
A single offshore corp is not good enough if you really want to hide your coin. To do it properly you need multiple corps in multiple jurisdictions and this will cost you a lot more then a few grand."There he goes. One of God's own prototypes. A high-powered mutant of some kind never even considered for mass production. Too weird to live, and too rare to die." -Hunter S. ThompsonComment
-
This thread is about canadians.Originally posted by Pleasurepays
this is my point... its not legal. you are the owner. you control it. you control the money... you tell the IRS or whoever "i dont know anything about that" and you fail to let them know what foreign bank accounts you control. when you make a statement to the IRS and sign your name to it... they then have 11 years to decide if they want to put you in prison. A lot of things can change in 11 years. A countries attitude about being an "offshore haven" can change. Their agreements with the IRS can change. anything can change. It happens all the time. The Swiss do not hesitate to turn over records today. Why? Because the US eventually puts enough pressure on them. Of course, Switzerland was the ultimate in private banking 40 years ago. All those bank records are sitting there waiting for change.
in the end, you lied and you can't un-lie
but at least you saved a few $
US citizen have no freedom. They are fucked up as soon as they see the sun.
The PM of Canada, Paul Martin pay only 2.5% corporative taxes from a Canada-Grenada setup. If the PM can do it, I'm not afraid of doing the same exact thing."There he goes. One of God's own prototypes. A high-powered mutant of some kind never even considered for mass production. Too weird to live, and too rare to die." -Hunter S. ThompsonComment
-
yahOriginally posted by raulph
Webby
What country do you live in?Comment
-
What about cashing out your cheques at one of those "Cash Advance Business" sure they take like 2% of the cheques but it's still a good deal, they really don't ask for much informations besides your name and a driver's license.Icq: 31706665Comment
-
Some people just pay a friend a % or two to cash their checks for them but I am sure their are severe penalties for both people if caughtComment
-
-
Originally posted by Nydahl
you are retarded - you have no fucking idea how offshore is working.Its funny
LOL! I'm retarded? Ok answer me this smart guy....
If you are living in Canada and taking all of your money offshore how do you get credit. Oh and I know about the paying yourself 30k a year just so it looks believable and all.
I have a friend who makes in excess of 30k a month and sends it all offshore. Over the years he has been saving and has a great nest egg saved.
So lately he wanted to buy a nice car and a house. The only way he got his car loan and mortgage was through his parents. The bank looked at his reported income and turned him down. Plus the thing is if he tries to bring the money into the country in a large sum as a downpayment he will get nailed.
So in other words this guy has all this money sitting offshore and there is no way he can really FULLY enjoy it without taking the chance of getting nailed. Did they tell you that when you signed up for your offshore bank account?
Doing offshore banking IN MY OPINION is risky and not for everyone. I like sleeping soundly at night knowing I don't have Canada Revenue after me. I don't look down at people who do it, but sometimes I don't think alot of people know about the down parts of offshore banking. I personally like paying the least amount of tax possible also!
DHComment
Comment