I felt it was time to refresh the minds of the Internet population, read and learn!
by, 02-16-2010 at 07:07 AM (2066 Views)
Just today I got an answer on a forum where I have been commenting some of the questions asked there, I wanted to supply with some information which could be useful and correct some minor statements for users which posted false information, now the entire discussion went out to be ďwrangledĒ to a discussion which wasnít related to the topic starters headline.
What I just again saw here and I have seen this a thousand times is that the Internet is filled with experts and knowledgeable people and they are all telling the truth and nothing as the truth. Fact is, they are Gurus and they are experts, but simply only in digging up knowledge from the internet and tweak it to fit into what everyone want to hear and know.
What the hell do you expect people to answer here; it is the broadest question you can ask people to answer to, just that you will have 1000 of answers to this question. For instant if you analyze this questions then you have to look at what the poster is asking and which additional question it should have raised:The main topic was offshore companies, and if it would be a safe solution for a Non-EU Offshore Corporation with a bank account with a certain bank in Cyprus for a non EU citizens
Where is this non EU Citizens living? Tax laws and regular laws are different in each country!
The answer to the questions was many, some claims that Cyprus donít have a banking secrecy, then everything got mixed up with tax treaties, automatic tax exchange between EU countries and USA and Australia, and before the discussion even close was to end, people started to mix the entire topic with regulations for the USA and Australia and that the IRS will catch you if you try to hide your money from them. Finally, a new post cam in what my opinion was about a widely know scam company ďpanamalaw.orgĒ firm tons of information about this on our forum. My answer to all this can be found below.
- What do you mean by safe? Safe as I want to do some money laundering, safe as I want to hide from the tax authorities or safe as I want to know if my money is secured there!
- Where is the NON EU Offshore Company located? There are tons of possibilities here, each offshore jurisdiction has their own laws and ups and downs, please clarify should the question have been.
- The user posted about a bank specific, FBME Bank in Cyprus now what is the reason for posting the name of a bank when asking for such a question, is it to get an answer of this bank is a trusted bank, has secured bank accounts or was it just the only bank the user know of??
Now the interesting point comes, what was all this about, didnít this all again end up with tons of information not relevant to the main question? Didnít it again went out that some of the users who participated in the thread tried to manipulate the hole question to went it for the personal winnings.
As I also end the below answer with, our best recommendation is to stay clean, donít suck every thread, blog post, forum post etc. into yourself and believe it, and courtesy is appreciated when it comes to how to structure a offshore company, which bank to put your money and who you should trust your entire business to, you will like to ask the professionals to not ruin your own business and worst case yourself personally.
I will not go and comment a obvious rogue companies posting, the Internet is a great media to publish whatever you want, everyone can be a respected authority within their business / industry if they to their forum, blog and article marketing well, thatís what I have seen in many different industries so far, people are sucking things up from the net and believe just because a handful or even 50 other people say they are gurus then they are!
I would rather stay to the fact, Cyprus, Belize, BVI, Panama, Seychelles and such a like are the most common places to incorporate for taking a business offshore, if you canít figure out to do so, then you should consult someone that know about this stuff and which has worked with this for many years, thatís the HUGE difference from the low cost fly / by night fast money making talents popping up on the net everyday and the real well established companies where things sometimes cost a little more BECAUSE you get some direct or indirect knowledge included.
Why do you believe that we the last 6 or 8 months have seen so many companies popping up to sell offshore companies? Why do you think that so many companies for the last 6 or 7 years popped up (and disappeared with huge impact towards their clients) in the Payment service provider industry?
It comes all down to that the Internet is a great platform to find and explore relevant information, modify it so that if fits in to what everyone wants to hear and make a business out of it, to spice this a little up, you simple just need to spin all the information and wola you are the next king of whatever industry you are looking for, the side impact this has are the dramas you find on the Internet each and every day, not only in our industry but also in many other industries.
Also, I donít mind to comment on a forum, however, we have a forum our self, what is important for a non authority forum which is in a hard competition for several reason, is to attract people to discuss various topics, get them engaged in the community that makes a good forum on the today net, if you canít do this you can supply the forum with some posters which are triggering discussion like the one we are into now just to get the post count up.
Final conclusion, if you want to make something illegal, donít even think about to post on a forum, if you think you can find the secret of the world on the Internet forget about it, you can find small gold eggs and pieces which you have to put together yourself to get the final result, even sometimes the outcome can be wrong, finally, it is a fact that corporations like Coca Cola, McDonalds, Sony, Panasonic and you name it, are all placed strategically in the major offshore jurisdictions, without them know one would have know about it. If you now cook this down to the small and medium businesses around the world then there are opportunities in those countries as well, you just need to find professionals to engage with.