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it's legal for US citizens... but you have to move a lot of money thru the account for it to be worth the expenses incurred (like the 15k$ but they nickel and dime you from there with 20$ fees for bank statements and on and on)....
the only time it becomes illegal in the US is if you bring the money back into the country with out paying taxes on it.
typically a person in the US that uses a carribbean account...has a credit card from the bank that they take cash advances from US ATM's....because the US Gov't can't connect a cash transaction taken on a foreign bank's bank card with a person....with out getting that information from the foreign bank.
islands like - grenada and turks and caicos - don't interact with the US - and so they don't answer US subpeonas to turn over client information.
But why would you want to do this? the taxes we pay - make it possible to fight terrorism, build schools (which we've all attended), and drive on the road ways....the list goes on...
esentially the taxes we pay make it possible to live in a great society. the trade off of moving to a tax haven...as SexHound found out...is that you have to live in a developing nation ... with poor infrastructure (ie hard to find dsl, dirty streets, nasty women, and no doors on your apt)
~Brett
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