Dude, I need to get whatever supplements you're taking. Some good info and motivation all up in here. Truth is, I am kind of small time with my current AM earnings so some of the advice doesn't make a lot of sense for my current level of earnings. The problem I have is I did save up a pretty nice nest egg before leaving the U.S. and most of it is there in mutual funds both non-retirement and retirement. Now I want to get most of it out of the U.S. and out of the USD. I think some of this advice still applies for managing those assets and getting them to where I have access to them without interference from the money grubbing bastards in the U.S. gov.
Possible issue for AM's in Thailand
- Thread starter geomark
- Start date
Dude, I need to get whatever supplements you're taking. Some good info and motivation all up in here. Truth is, I am kind of small time with my current AM earnings so some of the advice doesn't make a lot of sense for my current level of earnings. The problem I have is I did save up a pretty nice nest egg before leaving the U.S. and most of it is there in mutual funds both non-retirement and retirement. Now I want to get most of it out of the U.S. and out of the USD. I think some of this advice still applies for managing those assets and getting them to where I have access to them without interference from the money grubbing bastards in the U.S. gov.
I just had the thought that those "bomb scanners" we go through now can probably see if you have money strapped to your body. That was previously the only way I thought would be easy to get past the $10k limit if you wanted to carry cash.
Smalltime or not, you don't need to be making a lot of money to benefit from offshore banking. A British Virgin Islands LLC shelf company costs only a few hundred dollars in processeing plus lawyer fees if you need them. Then the different banks may have a minimum balance needed for your account like $20,000 average over a year, but realistically if you make $10K to $20K a month then I think it's worth it. If you don't count on making that much within a few years, then why even do IM?
I would honestly take what wayn3 says with a grain of salt if you are a US citizen. Even if you use an overseas LLC in Nevis or other privacy minded jurisdiction, the Swiss bank will still require to know who the beneficiary is. If the beneficiary is a US citizen, then sadly you will have difficulty obtaining a Swiss bank account due to the HIRE Act that will be enforced starting on January 1st 2013.
If you are lucky, you can still open a Swiss bank account, but you will probably be required to waive any banking secrecy. Forget about using such a bank account to evade taxes.
If you want to really beat the system, your only option is to renounce your US citizenship. This is not recommended if you're just a ham and egg AMer making maybe 100 to 300 a day in profits and living a comfortable life in Thailand. This is something only serious Internet professionals (offer owners, large media buyers, large CPA network owners, etc) who make at least 6 figures a month or more should seriously consider.
If you are lucky, you can still open a Swiss bank account, but you will probably be required to waive any banking secrecy. Forget about using such a bank account to evade taxes.
If you want to really beat the system, your only option is to renounce your US citizenship. This is not recommended if you're just a ham and egg AMer making maybe 100 to 300 a day in profits and living a comfortable life in Thailand. This is something only serious Internet professionals (offer owners, large media buyers, large CPA network owners, etc) who make at least 6 figures a month or more should seriously consider.
HSBC has a branch in america. Did you ever hear about subpoena? Bank with a bank that has a reputation to lose. Good luck.
that's what I thought all "AM travelers" are doing... but according to wayn3 it's not a good idea.
So what if the company doing business is owned by another company owned by a trust, how far down the rabbit hole does the bank want to go?
Get a shelf company, forget about 200 different little details your lawyer can easily eliminate, get one of those move directly to jail cards monopoly games issue.
Every reputable bank in the world requires an individual signer, even for corporate bank accounts. Your scheme won't work, sorry.
And no, you should not try to do anything I wrote about on your own. I just want to show you the surface of whats possible. Contact the qwealthreport guys if you are serious about it. They can and will tailor a solution to your needs. Do not bank with a bank that maintains a presence in the united states. Those can and will be extorted for information.
The HIRE act can claim whatever the fuck it wants. A bank in singapore is not going to surrender some information due to some act passed by congress in a country that does not have jurisdiction over it. I can understand why you fear such stuff, but the United states do not rule the entire world. The laws they pass do the best to intimidate their citizens. Those who know how to bypass them have to fear no evil.
The HIRE act can claim whatever the fuck it wants. A bank in singapore is not going to surrender some information due to some act passed by congress in a country that does not have jurisdiction over it. I can understand why you fear such stuff, but the United states do not rule the entire world. The laws they pass do the best to intimidate their citizens. Those who know how to bypass them have to fear no evil.
Yeah, carrying stacks of cash or a pouch full of gold coins is going to be detected and siezed. And they don't print big bills in the U.S. for that very reason I'm sure. Nothing like a $10,000 Singapore dollar bill.
All Singaporean banks offer brokerage accounts that let their customers trade in US securities. If they flout the Hire Act, the bank might be subject to 30% withholding for all US securities that they or their customers hold. The bank may even be barred from trading US securities completely.
Also Singapore has a limited tax treaty with the United States.
It's not as simple as you think.
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this cost you about $1000 and you have to go there once, the bonus is... All money earned outside HK are tax-free
Although, Singapore has extremely strict banking system (non disclosures). Its very unlikely that they wont co-operate with US. Not sure how this might pan out in this situation, but might be worth trying.
this cost you about $1000 and you have to go there once, the bonus is... All money earned outside HK are tax-free
And this is a great deal for everyone EXCEPT US citizens.
this cost you about $1000 and you have to go there once, the bonus is... All money earned outside HK are tax-free
am thinking about moving to HK. That's a advantage over singapore. Although, I dont like the lifestyle in HK. Giving up my SG lifestyle is going to be difficult.
If you really have a problem with getting your money out of the country, theres this tool called credit card. Not your stupid trackable credit card but a credit card without a name on it. There are a couple banks who still issue those. If you cant wire funds outside of the States, there are middlemen who take your funds and route them to those banks for a fee.
You can get a credit card with no name on them with a $10k daily limit. If thats not enough, you can get 10 of them. Cost about $500 a piece but have lower percentage fees so theyll come at no cost if you pull any kind of volume. If you dont do that, you dont need such cards anyway.
That is something you wont find on your own. Even if you contacted the bank that does this, by pure chance, inquiring about it, the guy whod deal with you wouldnt even know about it.
There is private banking in switzerland, where only your very senior contact in the bank has access to the vault your information is stored in.
There are banks in singapore that dont even have a plate on the building theyre located in. To anyone not in the know, they wouldnt even exist. You can only open an account in person. You will get a paper that doesnt have your name on it with which you can access your account. Nobody else can. Nobody else knows it exists. To anyone working at the bank, its only a number. But what if they just take my money
((((. As if your 6 figures a month would matter to them. They own vaults under the city that are protected by a security force better equipped than the shitty german military, full of gold, on which they sell shares.
Again, just the surface. The world is full of wonderful privacy protecting services that you make up in your wildest dreams. Its kept away from you for a reason.
But by all means, go bank with HSBC who charge $75 a month, should you want to online bank from thailand. They will really value the business you bring to them.
If you want to not just learn more about any of this but take action, do yourself a favor and sign up for the qwealthreport. Its $89 a year. Included in that is an introduction service to one of the banks on their list of banks you can work with. Im not affiliated with that, nor would I want to be. Its the third site they own because they all get deindexed by google sooner or later for some strange reason.
You can get a credit card with no name on them with a $10k daily limit. If thats not enough, you can get 10 of them. Cost about $500 a piece but have lower percentage fees so theyll come at no cost if you pull any kind of volume. If you dont do that, you dont need such cards anyway.
That is something you wont find on your own. Even if you contacted the bank that does this, by pure chance, inquiring about it, the guy whod deal with you wouldnt even know about it.
There is private banking in switzerland, where only your very senior contact in the bank has access to the vault your information is stored in.
There are banks in singapore that dont even have a plate on the building theyre located in. To anyone not in the know, they wouldnt even exist. You can only open an account in person. You will get a paper that doesnt have your name on it with which you can access your account. Nobody else can. Nobody else knows it exists. To anyone working at the bank, its only a number. But what if they just take my money
((((. As if your 6 figures a month would matter to them. They own vaults under the city that are protected by a security force better equipped than the shitty german military, full of gold, on which they sell shares.Again, just the surface. The world is full of wonderful privacy protecting services that you make up in your wildest dreams. Its kept away from you for a reason.
But by all means, go bank with HSBC who charge $75 a month, should you want to online bank from thailand. They will really value the business you bring to them.
If you want to not just learn more about any of this but take action, do yourself a favor and sign up for the qwealthreport. Its $89 a year. Included in that is an introduction service to one of the banks on their list of banks you can work with. Im not affiliated with that, nor would I want to be. Its the third site they own because they all get deindexed by google sooner or later for some strange reason.