If you want to have more confidentiality, pay less taxes, and enjoy more reliable asset protection, you may consider becoming a tax resident of an offshore country in addition to opening an account there.
Let’s consider St. Kitts and Nevis for you to see the advantages:
- If you become a tax resident, you will not be liable for income, inheritance, or wealth tax. As a result, people who want to decrease the tax burden acquire citizenship by investment in St. Kitts and Nevis (which is quite affordable, by the way), become tax residents, and get exemption from taxes in their country of residence.
- St. Kitts and Nevis comply with their obligations to exchange information about beneficiaries, but the process has some peculiarities that neutralize its impact. The main thing is that the country does not recognize the decisions made by a foreign court – that is, if your creditor won a lawsuit against you somewhere in Europe and came to Nevis with a court decision to seize your assets, he will have to start the proceedings all over again in a local court (which means paying a bond of 100,000 US dollars to set the ball rolling, hiring a local lawyer, and so on). The laws in Nevis are usually on the bank holder’s side, so it will be very hard to win the case. The result? Your funds are intact! And the fact of information exchange did not really change much in this case.
As you see, legal loopholes do exist. You can take advantage of them by contacting our experts – we will help you have a smooth experience!
Where Can I Open a Bank Account for Maximum Privacy?
The choice of a safe offshore jurisdiction is not as easy as it may seem as each situation is unique and there are different factors that we take into account to come up with an ideal solution. What is more, we provide this service for free – so do not hesitate to book a session!
And still, some general advice can be given, of course. Here is our list of recommendable destinations:
- St. Kitts and Nevis that we considered in detail earlier. This is a good example of how a country can strictly comply with all the requirements imposed by international regulators – and still ensure the highest possible privacy in the present-day conditions.
- Switzerland is a brand recognized all over the world. This is a highly-developed financial hub that offers top-notch banking infrastructure and excellent services to its customers. Banking secrecy is ingrained in the national policy, and all the bankers who violate it will face heavy fines as it damages the national brand’s reputation. There are some drawbacks, though: Swiss banks may be too picky about the customers they onboard, and you may be required to deposit quite a large amount to be eligible.
- Belize has a legal framework similar to the one adopted in St. Kitts and Nevis, so you may count on the same level of confidentiality and asset protection. Your creditors will have a hard time getting to you!
Schedule a consultation with our experts to delve into the specifics of jurisdictions like Puerto Rico, Germany, Singapore, the Cayman Islands, and other highly recommended options. Click the provided link and explore our convenient online chat for a swift beginning!
