 |
 |
 |
|
|
|
|
panamalaw.org
is our skype name
Yahoo Messenger
with Zfone
panamalaworg
is our yahoo name, click here for instructions
or use our
encrypted email system
Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
Guatemala CorporationGuatemala Bank AccountAnonymous Master Card and VisaHigh Limit Anonymous Offshore Visa & MasterCardAndorra Private Banking Swiss Forex and CFD Trading AccountFOREX and FUTURES Bank Account for BrokersForex Professional Broker Trading Accounts Offshore High Risk Merchant Accounts
Second Passports and Citizenships – Read this First PleaseWhy You Should Use USPensionado/Poor Man's Second PassportPoor Man's Second PassportSecond Passport and Second Citizenship ProgramsGuide to Economic Citizenship Passport ProgramsGetting Out of Dodge – May 18, 2012Getting Out of Dodge – May 14, 2012Getting Out of Dodge – May 11, 2012Getting Out of Dodge – May 9, 2012Getting Out of Dodge – May 7, 2012Getting Out of Dodge – May 2, 2012Getting Out of Dodge – Apr 26, 2012Getting Out of Dodge – Apr 25, 2012Getting Out of Dodge – Apr 23, 2012Getting Out of Dodge – Apr 12, 2012Fall of the American Empire – Update October 22, 2011Fall of the American Empire – Update October 15, 2011Fall of the American Empire – Update October 13, 2011Fall of the American Empire – Update October 12, 2011Fall of the American Empire – Update October 4, 2011Fall of the American Empire – Update September 26, 2011Update on the Panama USA Tax Treaty – Dec. 1, 2010Panama and USA to Sign Tax Treaty for Exchange of Tax InformationRead This Before Considering Panama as a Offshore JurisdictionPanama Ending Anonymous Bearer SharesPrivate Offshore Panama Bank AccountHow to Get a Non– Freezable Bank AccountPanama Virtual Office for Panama Bank DepositsPanama Real Estate Purchaser Legal RepresentationMolotov Cocktail Riots in GreeceIraq Dinar Revaluation – Exercise CautionReduce Legal Bills – Outsource Legal Work to IndiaDon't Travel With Your Gold CoinsSingapore Caves in to OECD Tax TreatiesGoing Off the US DollarOECD Tax Treaty Compliance FailingImportant Banking News Alert – Bank Reference LettersWhat Do You Want To Protect?Private Offshore Panama Bank AccountPanama Virtual Office for Panama Bank DepositsImportant Banking News Alert – Bank Reference LettersReal Estate Asset ProtectionPanama Real Estate Purchaser Legal RepresentationAnonymous No-Name Debit ATM CardThe OECD and the Tax HavensAnonymous Visa Cards (New May 2009)Asset Protection – Gold, Silver, USD, Euro, Yen, Swiss FrancNevis OverviewNevis Economy, Currency Exchange Controls, and Economic LegislationNevis Government and Legal SystemObama Muslims and Women's RightsAmazing Obama Birther Case Hits Supreme Court – 10/5/10Retired Three Star General Pushes Against Birth Certificate Free ObamaObama Wants Your Pension/Retirement MoneyObama and His AgendaElena KaganRetired US General Calls for Resignation of Obama - NowObama Kenya Birth Certificate Pops UpEU Times Online Publishes an Expose on Obama IneligibilityArizona Stands Against ObamaKenyan Government Official Cites Obama as Being KenyanLatest Obama Rumors – Columbia UniversityIs Obama a Muslim?The Farce of the G–20Obama Muslim StampObama and CommunismObama Scary TruthsObama Kenya Birth Certificate ObtainedObama Hidden Tax IncreaseThe Obama Not Qualified CaseObama Birth Certificate FraudObama Playing Golf with UBS America President Robert WolfAsset Protection in the USAWhat Will You Do if the FDIC Fails?Municipal Bonds – The House Built on Sand CollapsingDead Birds and Fish – Is this Bible Prophecy?Student Loan BubbleObama and this Once Great NationAlex Jones Calls the FBI Walmart Hotline to Report Terrorists (Government Officials)Mexico Trying to Cut Back on US Dollar UsageLet's Talk Broke States and Welfare FraudStory of A Police Department Falling ApartPolice Layoffs Ripping Through the USASen Michael Bennet Forget to Close Mic, calls Senate Vote RiggedTake Money Out of Banks to Collapse their SystemReal IRA Threatens to Blow Up London Bankers and BanksFrench Taking Money out of the Banks on December 7, 2010Anti-Austerity Protest Demonstration Spread Throughout EuropeEU Gives Americans Rights to Access All EU Bank AccountsBritish Expats Returning To UKUK Cracks Down on Six Million Tax ExilesFrance Obtains Stolen Bank Data From SwitzerlandEvery 30 Seconds Thugs Attack Someone in UKBritish Police Raid 6,717 Safe Deposit BoxesItalian Police Raid 76 Branches of Swiss BanksNetherlands Closing Prisons due to a Lack of PrisonersUK Parliament Member Verbally Attacks UK Prime Minister Brown (Brutal)EU Civil Unrest Starting!UBS Swiss Bank Closing Accounts of AmericansTranslate this page into...
Spanish
French
Italian
German
Portuguese
Dutch
Russian
Japanese
Korean
Chinese
Executive Summary – The Swiss bank UBS settled with the USA government agreeing to turn over the records on 4450 Swiss Bank Account in UBS bank. The USA tried to get 52,000 but settled for 4450 files.
Implications of the Case – The USA will probably hammer a few of these accountholders as hard as they can. The USA has eight times more people in prison than China. They lose long sentences, especially for crimes where there is no victim other than the government. Many account holders will get scared and settle with the IRS for back taxes, penalties, interest etc. They will be threatened, intimidated and never have any assurances in writing that they will never get criminally prosecuted even though they so to speak “came clean”.
The Swiss are just about finished as a secure banking jurisdiction. Capital flight out of the Swiss banks will be significant. The Swiss may be very slow to declare some of their banks in need of liquidity due to the capital flight and put them in receivership. They will try to hang on and hope for the best. We’ll see how this goes.
What This Means to You the Reader – First lesson is if the bank knows who you are this could happen. To be secure the bank has to not know who you are. Of course there are pluses and minuses with this sort of relationship. To read the finer points about Trust Agreement Banking go here:
As these tax treaties get signed be careful. You want to close any bank accounts out before the country signs any tax treaties. If you do so before the treaty the account should not be covered by the treaty since these treaties are not retroactive.
Jurisdiction Hunting – If you wish to continue signing on your own bank account then consider using jurisdictions not considered tax havens. These countries often have bank secrecy and no tax on offshore-derived income. We prefer to use Guatemala for this since their relationship with the USA is not good. The recognized tax haven offer the greatest yield for a country attacking such tax havens since many of their citizens will be banking there. Non tax havens offer no much to the high ax countries so they tend to not want to waste their time on them.
As this witch hunt progresses expect to see a lot of capital flight from these offshore tax haven banks and this will result in bank failures. Bank failures are awful and losses often are 75% or more. Be careful. The rules of the game are changing and there are going to be some casualties in the offshore tax havens and this is of course a goal of the high tax countries leading the charge.
Future for Americans in the Offshore World – It seems that it is getting harder and harder for Americans to open offshore tax haven bank accounts. We have no issues with Americans. We read one bank is now asking for utility bills to be notarized. The offshore tax haven banks are asking for bank reference letters, sometimes two of them. This is a red flag warning and many banks will treat this as a suspicious transaction. For this reason many banks do not offer bank reference letters, not only in the USA. We do not require bank reference letters to open bank accounts of any sort.
What You Should Do? – Well whatever you do, do not behave like those poor unfortunate folks who did nothing except wait and watch and relied on UBS bank to protect their privacy and got a jolting surprise. There are more attacks on privacy expected in Switzerland and in other tax havens. Your safest position is to make sure the bank does not know who you are. It is still also possible to hold real estate and gold anonymously. Inquire.
Don’t Shoot the Messenger – Many people get upset when we explain how the rules are changing. We do not make the rules. We react to them, only. The giving up control of the bank account and going to Trust Agreement Banking is not always popular as a concept in offshore banking. It is expensive and one needs to be trusting the law firm who is the signatory on the account. The problem is the alternatives are not good. We can still have you sign on your own bank account in Guatemala and expect bank secrecy and no tax sharing but your most secure position is the International Trust Agreement.
 |
||||||
|
*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
