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One line of inquirery I pursue occasionally is establishing an offshore
bank. While the legal ins and outs of this are most likely a minefield, it
is possible. I am thinking of starting a development bank that makes
microloans to budding businesses. And naturally has a forex and hedging
desk. So far it seems like it gives me the most control of my money, but I
do not have enough information to conclude anything. Has anyone delved into
this?
Michael
----- Original Message -----
From: "Dr. John Cappello" <jvc689@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, April 08, 2000 12:18
Subject: [RT] TAX Reduction
|
| There was a thread recently about tax havens and the like.Having
researched
| this for 3 years and owning a Panamanian Corp on the shelf for when I
decide
| to move, beware this land mine.
|
| It is very difficult to legally operate offshore via trust/corporation or
| otherwise mostly because you will ultimately find a government form that
in
| order to qualify you will have to lie.You may go many years paying no
taxes
| but when you get caught you will have no recourse.Being physically
offshore
| is the only impeccable non-ruse way.
|
| I would challenge anyone to prove otherwise.
|
| Lastly one of the best ways I have found is to invest with oil drillers
with
| a track record in re-invigorated fields.You get the expense write-off the
| year you invest plus sheltered income from the oil production.There are
many
| drillers with a 50% to 75% success rate in known fields.
|
| Sincerely,
|
| John
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