Swiss Banks

[netwrkranger]

Are common law liens available?

If property is liened, is it a statutory lien?

Does govy provide the common law lien form or does one draft their own?

- netwrkranger

[International American]

Originally Posted by netwrkranger

Are common law liens available?

If property is liened, is it a statutory lien?

Does govy provide the common law lien form or does one draft their own?

- netwrkranger

I am pretty sure that u can but I am not 100% sure, a good friend of mine has set up something in Dubai and says that u can pretty much do whatever u can do in other offshore jurisdictions... I might set up something there as soon as I have done all the research...

IA

[ThomPaine]

CORRECTIONS: Dubai is not an economy based on oil, so dont lump them in with the rest of the ME. That is the main reason they are focusing on tourism, banking, real estate, etc. THEY HAVE NO OIL.

Americans arent required to pay income taxes on foreign or domestic source income, due to the limited scope of the income tax, so please dont make the statement that they are required to pay taxes on their worldwide income, as nothing could be further from the truth...

Panama is a strong location for certain things, just not everything. One would be well served by disbursing accounts and entities over several geographic locations in order to maintain security and privacy..

Thom

[International American]

Originally Posted by ThomPaine

CORRECTIONS: Dubai is not an economy based on oil, so dont lump them in with the rest of the ME. That is the main reason they are focusing on tourism, banking, real estate, etc.

Hi ThomPaine, interesting post, but I am not sure what "corrections" u r trying to make as there don't seem to be any major mistakes in the first place. I don't think anyone claimed that the Dubai economy was based on oil. However, I think that high oil prices have definitely affected Dubai. Here's an article from Bloomberg on a gulf related website about "Dubai's Oil-Fueled Real Estate Boom" http://www.gulftalent.com/home/press-16.html There is a lot more info on this, just google "Dubai oil".

THEY HAVE NO OIL.

Not true, according to the UAE gov, Dubai produces around 240,000 barrels a day. http://www.uae.gov.ae/Government/oil_gas.htm

Americans arent required to pay income taxes on foreign or domestic source income, due to the limited scope of the income tax, so please dont make the statement that they are required to pay taxes on their worldwide income, as nothing could be further from the truth...

The vast majority of Americans are U.S. citizens, the IRS claims that "U.S. citizens and residents are taxed on their worldwide income"... You can say whatever u like and are probably correct in an ideal world, but in the "real world", the IRS wants the tax from ANY income u have, even worldwide. Look here: http://www.irs.gov/newsroom/article/...108276,00.html U r free to argue with the IRS and risk going to jail but I'd rather not, I don't want to mess with the IRS because they can hurt me by possibly throwing me in jail, I don't want to risk going to jail nor do most people but u do whatever u wish.

Panama is a strong location for certain things, just not everything.

I am not sure anyone claimed it was a strong location for everything but as a banking center it sure is...

One would be well served by disbursing accounts and entities over several geographic locations in order to maintain security and privacy..

This is great advice and I have already done some of the things u have suggested here. Diversification is a great strategy, never put all ur eggs in one basket as they say.

Regards,

IA

[netwrkranger]

I made my own little run on the bank today. I asked the teller about if the bank provided the service of non-interest bearing accounts and if an SSN was required for the account. The answers were yes and no respectively.

I say that account coupled with Mr. Merrill's remedy for endorsing a check for lawful money should make for interesting banking indeed.

Regards,
netwrkranger

[International American]

Originally Posted by netwrkranger

I made my own little run on the bank today. I asked the teller about if the bank provided the service of non-interest bearing accounts and if an SSN was required for the account. The answers were yes and no respectively.

I say that account coupled with Mr. Merrill's remedy for endorsing a check for lawful money should make for interesting banking indeed.

Regards,
netwrkranger

Cool, keep us updated dude...

[farmer_giles_of_ham]

Originally Posted by netwrkranger

I made my own little run on the bank today. I asked the teller about if the bank provided the service of non-interest bearing accounts and if an SSN was required for the account. The answers were yes and no respectively.

I say that account coupled with Mr. Merrill's remedy for endorsing a check for lawful money should make for interesting banking indeed.

they also open interest bearing accounts w/o tax number: just that there is withholding, maybe 20% or 30%.

either a w8 form (foreign person) or a w9 with "refused" or "declined" in the ss# section

this type of account-situation will not generate a 1099 information statement, which seems to be what triggers IRS scrutiny.

[palani]

Originally Posted by netwrkranger

I made my own little run on the bank today. I asked the teller about if the bank provided the service of non-interest bearing accounts and if an SSN was required for the account. The answers were yes and no respectively.

Was this a bank in which you have previously done business or have had an account with? In other words were you known by the teller?

[netwrkranger]

palani wrote:
Was this a bank in which you have previously done business or have had an account with? In other words were you known by the teller?

Yes, I was known by the teller.

Which is why when I begin experimentation, I will do my thing at a totally different bank.

Regards,
netwrkranger