Opening A Private Offshore Bank Account for GamblingPrev TopicNext Topic

• WSN1

  

  Anywhere & Everywhere
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  January 23, 2005
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  Sep 26, 2007, 11:05 pm

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  Is there someone that can assist me with opening a private offshore bank account that will accept my online gambling financial transfers. I live in the US?
• time*treat

  

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  March 30, 2005
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  Sep 27, 2007, 3:37 am

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  In response to WSN1

  Quote: Originally posted by WSN1 on Sep 26, 2007

  Is there someone that can assist me with opening a private offshore bank account that will accept my online gambling financial transfers. I live in the US?

  ... Mostly foreigners interested in ripping off an American with more money than judgement. They will happily set up an account for you ... then empty it.

  Even with that obstacle surmounted, the matter of "privacy" is relative. That is, you have to answer the question; who are you keeping the account "private" from?

  Nosey neighbor? Doable.

  Nosey lawsuit? No. Not if you want to be able to use it. There are better options.
  

  Nosey Gov't agency? See "Nosey lawsuit".
• LANTERN

  

  Tx
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  Sep 27, 2007, 3:53 am

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  In response to time*treat

  Quote: Originally posted by time*treat on Sep 27, 2007

  ... Mostly foreigners interested in ripping off an American with more money than judgement. They will happily set up an account for you ... then empty it.

  Even with that obstacle surmounted, the matter of "privacy" is relative. That is, you have to answer the question; who are you keeping the account "private" from?

  Nosey neighbor? Doable.

  Nosey lawsuit? No. Not if you want to be able to use it. There are better options.
  

  Nosey Gov't agency? See "Nosey lawsuit".

  Which better options?

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• time*treat

  

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  Sep 27, 2007, 4:39 am

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  In response to LANTERN

  Quote: Originally posted by LANTERN on Sep 27, 2007

  Which better options?

  For protecting assets against frivolous lawsuits (a growing problem) and privacy, more people are setting up trusts. It's not so much as "hiding", but about making inaccessible.

  I want to be clear, and say this is not a receive-summons-on-Monday-set-up-trust-on-Tuesday type of thing. These things have to be "old-and-cold" i.e., in existence (long) before the "trouble" begins, because a judge can disallow a trust, under some circumstances.

  If you own an estate - and die, your heirs may have a sudden (and huge) tax bill due. If your estate is held in trust, your death doesn't trigger tax on the estate, because it was not held by "you" but by the trust. The only thing that might change is the trustee (the person who manages the assets in the trust). That's how the wealthy pass down those huge mansions and plantations generation after generation. And if the property is held by a 'land trust', it will have the bank's name as trustee, not the family's.

  Back to the offshore accounts. That, in and of itself, is perfectly legal for US citizens (there is even a convenient little checkbox on your 10-40 asking if you have such a thing). If you go on vacation outside the US, you can open one on your own. 
  

  And, yes, a trust can have bank (or brokerage) accounts among its holdings. 
• LANTERN

  

  Tx
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  Sep 27, 2007, 4:17 pm

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  Gracias!

  I don't know how safe or unsafe bank accounts might be for americans to have on Mexico and or Canada, but that might also be possible to do, but it would not be "OffShore", just across the border.

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   http://www.gocayman.ky/component/option,com_directory/page,viewcat/catid,39/Itemid,160/

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  Go to the border open it, don't keep no more than $999 there at any one time, get a debit and or credit card from them, make sure that it is a good bank, maybe a national bank, make sure that you can do transactions either by phone, Internet transactions might also help if they provide tham, but at least by phone.

  Again, don't keep no more than $999 there at any one time, tranfer money to and from your US bank account.

  Maybe that would work, but I don't know.

  http://www.banamex.com.mx/eng/personal/servicios/bancanet/index.html

  Open an account with Banamex.

  In person. 

  BanaMex and City Bank have merged, kind of. 

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• time*treat

  

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  Sep 27, 2007, 6:28 pm

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  Canada has much less of a history of "nationalizing" things than Mexico (Canada just VATs the heck out anything that moves). At the moment, for easy conversion 1$US = 1$C, common language, and non-sticky-finger officials, there's no contest. That is, if your issue is just the CC/DC transaction restriction.

  You could just use an International Postal Money Order to fund the account, and be done with it. No CC involved at all, that way. No extra bank account to report on. People should know that any bank operating here and overseas, will share info about overseas accounts of American citizens with a US court order asking the branch back home, if it comes up. That's not likly to be an issue among you little p3 players , but I don't want anyone to think we are discussing the magic formula to do all manner of dirt, just how to fund your account without bumping heads with your card company.  (Yeah, I know, another disclaimer, but people will do all sorts of stupid/criminal things and then try to pass the blame) "Yer Honor, time*treat mislead my client, by implying dat he could safely & lawfully, yer Honor, operate his own mail-order-bride/human trafficking business if he just ... " Well I'd better just leave it at that.