Anyone have experience with off-shore accounts? I'm considering it.

[MDesigner]

I want to open up some kind of off-shore account. Swiss maybe? Does anyone have experience with this? What's the best type of account to go for? I saw a Swiss account that is very cool, has a low minimum deposit, and even gives you a debit card tied directly to your bank account!

But how legal are these? Are we "supposed" to tell the IRS that we own an account out of the country? What if we "forget" to tell the IRS this? Will they ever find out? I assume if I use my Swiss debit card at Best Buy for instance, it will go in the records somewhere and they'll wonder what's up and why that card is tied to an off-shore account?

I just want a bit of info from someone who has experience with this. If you work for the IRS, don't respond, and stop taking my hard-earned money. Thanks

 

[GasX]

I know nothing about the laws regarding putting money into that account, but the government has no business monitoring or caring what you spend it on at Best Buy. Assuming you find a (legal or illegal) way of funding that account, you can do what you want with it.

 

[Mister T]

I have been wondering the same things.

BTW, I would use the Cayman Islands. Cool place to go when you need
to go to a trip to the bank. Also, alot of hedge funds are based there as well.

 

[MDesigner]

Yeah, Beliz, Panama, Cayman Islands, etc., are other popular places for off-shore accounts.

But I would rather go to Switzerland to pick up money, seriously. I guess it depends on where you would rather travel.

 

[MDesigner]

Also, if anyone has knowledge of the laws surrounding all this, I'd appreciate it

 

[MDesigner]

bump. i guess this isn't a very popular topic.. damn.