Why waiting is dangerous... Dear Friend, The rumors are certainly out there! And the warnings as well! But little or no information whatsoever about the truth of the matters... It is amazing how much misinformation can be spread - and the Internet is unfortunately a major source. Let me address a couple of issues pertaining to this: Using false information in order to obtain tax benefits. Here is a recent story from the newspapers in Vancouver, BC in Canada:
I shake my head when I read this kind of thing. Why are those idiots doing their business is such a stupid way? What they obviously are trying to accomplish could have been done without breaking any laws... There is no need for using sham loans and fake figures. If these people would have established an IBC and run it diligently as the owner of their local operations, there would have been nothing fake and nothing illegal about them deducting interest on real loans from an offshore bank, lease payments to their IBC, loss on sales of equipment to their IBC, invoices of all kinds from their IBC - you name it! This way, they could have cut their taxes legally down to zero - and saved themselves the fine, the hassle, the court costs, and the embarrassment. Unfortunately, I talk to many people who draw the wrong conclusions from this. Some try to be "smarter yet" and vehemently hide information from their government, hoping that "things will hold tight". Well, if your are three people to share a "secret", it is no longer a secret. I think we all learned that in Kindergarten. Some adults appear to need to do those lessons over, though… One thing is that you have a legitimate need for (and some rights to) protecting your privacy, but certain things are, by law, not private issues. Tax deductions being one of them. (More about this later in this issue.) Others blame "offshore" for the misfortune of these crooks and don't even want to touch anything that has to do with doing business Internationally. In the present case, you could just as well draw the conclusion of staying out of the building construction business - or staying away from West Vancouver, since it obviously is populated with criminals. I mean: please stay calm and cool! Keep things legal. You are not a criminal because you want to do business Internationally, from an offshore base. But you do commit a criminal offense if you fake documents, offshore or not. And further: it is stupid to use crime to achieve what is obtainable through completely legal means! (My personal opinion - but I will repeat it in front of a judge if need be!) Trying to hide yourself behind anonymity. I recently got an invitation to join an "offshore club" that would charge $30 per month for giving me access to some "privileged" information (most of which is for free at our site...). In addition, they would sell an anonymous debit card for $150 to their members! They would guarantee your anonymity, so you would never have to reveal any of the transactions on your debit card. Sure, very tempting - but still leading you into illegal transactions! Even though you get someone to guarantee your anonymity, you are still the legal owner of that debit card and the account that supports it. This obliges you to report to your government what is going on on that account. There is nothing illegal in setting up such an account and getting such a card, so the vendor is not committing or inviting crime. The problem is that, in order for you to benefit from it, you will have to choose to not disclose it on your tax returns - but in doing so, you are committing fraud. (As you know, fraud is generally not dealt with through a fine, but through jail terms, so it is a very serious matter...). Well, crime is crime - whether or not there are any witnesses. Again, it is crazy to succumb to this crap. I understand why people are tempted to do it, though - but it is all rooted in lack of information and lack of understanding of what is really going on here... The difference between it being legal and it being criminal is vested in the ownership. I know, I have preached this so many times, but I will repeat: If you own it, you are liable for it. Period. The only way of avoiding your liability is by not owning it! Unfortunately, most people make logic by putting control=ownership which is plain simply incorrect! Once you comprehend that you can, in fact, retain control over something you do not legally own, then you are on your way to financial freedom. Before you do that, however, you are stuck with either taxes or crime as your only options. I hope you choose the taxes, then... The only legal way out of this dilemma is by doing your business, private as well as corporate, through an Offshore Trust you do not own. This addresses the problem right at its origin and frees you from having to break any laws whatsoever in order to enjoy your financial privacy. With a PILL Trust, you can get as many debit cards as you want - within reason. Because those cards are related to your Trust and not to you, you can enjoy your anonymity in completely legal freedom! The transactions on those debit cards are none of your government's business, and you have no obligation whatsoever to report what is going on, because those transactions do not relate to a citizen or resident in your country. You don't need to fear that your offshore bank should give in to pressure from the US government's side and let it have access to its records - those records have no mentioning of your name anywhere, so it is technically impossible to accommodate the IRS in such a request! Not to mention that such an act would be a totally unacceptable infringement of another nation's sovereignty... Well, I think I made my point - enjoy ! The thing is that you need funds for your Uncle Offshore to pay you! And, remember, you cannot just donate that money to him.... The only way is to get Uncle Offshore involved in some business and investment activities that will generate some cash. You need time for that. You know very well that cash does not come flying in through the window by night. There is some serious work to do before you will see some buying power on Uncle Offshore's bank account. (There are many ways of doing this, and they are all thoroughly described in my course "Setting Up Your Business For Financial Freedom". In principle, you simply strike a deal with a third party - and make it part of the deal that all proceeds from the work you put into the deal must go to Uncle Offshore. One simple one is to sign Uncle Offshore up for on-line affiliate programs and then promote those programs yourself, letting him cash all the checks. There are also faster ways, if you are squeezed for time...). However, no matter how smart you are, you will need some time to make this happen. And, in the meanwhile, the clock ticketh in the bomb you are sitting on.... that bomb is your HYIP - the one you signed up for in your own name.... The longer you wait, the riskier and the more expensive it becomes - and it might simply explode under you before you are ready to handle it! As you can see, this whole hassle is 100% avoidable if you are smart enough to establish your Uncle Offshore before you invest a single dime in any offshore programs - and then do the investments you want to do in his name, not your own. It is so devilish simple that I can scream when people tell me they did not think of this before.... Heck, do you think your government is too stupid to hire smart people that can trace down tax cheaters that try to cover their own actions in dishonesty? It is called tax evasion - and it is illegal in all countries. Tax avoidance, however, is a totally different story, fully supported by the courts in all countries. Tax avoidance involves arranging your affairs up front in such a way that the result of them will be lower taxes or no taxes. The illegal aspect comes into the picture when you change your explanation about what your intentions were after you did something you later find out wasn't really smart.... In other words: there is no way you can legally enjoy a tax-free investment offshore unless you do it through an offshore legal entity, like a Trust or Foundation you have no liability and responsibility for. As long as you hang on to your ownership, you also give the government the key to control you. You can establish your Uncle Offshore at http://freedomfromtaxes.com/OffshoreTrusts under terms that will maintain your privacy completely - as there will be no International money transfers on your part. I will then take care of getting a Grenada Foreign Grantor Trust established under your control - with no mentioning your name to any government agents whatsoever.
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