Most offshore service provider, offering bank accounts, legal entities, nominee services, etc.
for clients in the USA know very well that what they are offering is putting their clients into a tax trap.
This tax trap allows the client to keep the crucial information secret, to some degree, and thus also tempts most weak souls into using those services for the purpose of illegal tax evasion.
Example: Although a Trust or a Private Interest Foundation has no owners, the US tax agency will nevertheless regard a US citizen an owner of such an entity (and thus demand personal income taxes on its proceeds), if, by any means, he acts as if he owned it.
This includes paying for establishing it! And it certainly also includes using it to pay his personal debt.
When searching on-line, it is very hard to find any solution to this dilemma.
You will find two kinds of information: 1.
Information posted by government or government puppets, like professionals whose livelihood is subject to a government license.
2.
Information posted by service providers, who just want to sell something, and don't care about leaving their customers with their own problems with what they bought.
They typically make disclaimers like, "the clients is responsible for complying with the tax rules in his own country".
The first kind of sources will all state that "going offshore" is "tax neutral", i.
e.
subject to 100% taxation by the IRS.
The second set of sources will promote the fact that you can indeed obtain complete freedom from taxation by using their services! None of them are right.
And none of them are wrong.
It is not a matter of what you do, what entities you use, what structure you establish, whom you contract to do it for you, what services you buy, or anything else along those traditional lines of due diligence in a traditional market place.
It is a matter of HOW things are done.
And, in order for anyone to obtain the benefits, without committing a criminal offense by signing false on the "tax return", you need more education than what it takes to go shopping.
That education does not have to cost you $10,000 - but you fool yourself if you think you can get it for free...
Those who know this stuff well have no benefit from your getting this information at no charge.
Take into account that the government benefits massively from people being scared of "going offshore".
Take also into account that seller of services are not an independent un-biased source of information, if it pertains to their own services.
Whenever information is free, the poster of that information benefits from you using it - or at least expects or hopes to do so.
You can only get honest information from someone who ONLY makes money on selling information, regardless of how you are going to use that information!
for clients in the USA know very well that what they are offering is putting their clients into a tax trap.
This tax trap allows the client to keep the crucial information secret, to some degree, and thus also tempts most weak souls into using those services for the purpose of illegal tax evasion.
Example: Although a Trust or a Private Interest Foundation has no owners, the US tax agency will nevertheless regard a US citizen an owner of such an entity (and thus demand personal income taxes on its proceeds), if, by any means, he acts as if he owned it.
This includes paying for establishing it! And it certainly also includes using it to pay his personal debt.
When searching on-line, it is very hard to find any solution to this dilemma.
You will find two kinds of information: 1.
Information posted by government or government puppets, like professionals whose livelihood is subject to a government license.
2.
Information posted by service providers, who just want to sell something, and don't care about leaving their customers with their own problems with what they bought.
They typically make disclaimers like, "the clients is responsible for complying with the tax rules in his own country".
The first kind of sources will all state that "going offshore" is "tax neutral", i.
e.
subject to 100% taxation by the IRS.
The second set of sources will promote the fact that you can indeed obtain complete freedom from taxation by using their services! None of them are right.
And none of them are wrong.
It is not a matter of what you do, what entities you use, what structure you establish, whom you contract to do it for you, what services you buy, or anything else along those traditional lines of due diligence in a traditional market place.
It is a matter of HOW things are done.
And, in order for anyone to obtain the benefits, without committing a criminal offense by signing false on the "tax return", you need more education than what it takes to go shopping.
That education does not have to cost you $10,000 - but you fool yourself if you think you can get it for free...
Those who know this stuff well have no benefit from your getting this information at no charge.
Take into account that the government benefits massively from people being scared of "going offshore".
Take also into account that seller of services are not an independent un-biased source of information, if it pertains to their own services.
Whenever information is free, the poster of that information benefits from you using it - or at least expects or hopes to do so.
You can only get honest information from someone who ONLY makes money on selling information, regardless of how you are going to use that information!
Source...