With Keir Starmer leading the UK, you can bet your last pound that trouble is on the horizon for UK entrepreneurs.
Apart from social unrest and harsh censorship, he'll raise the tax burden even further.
We all remember Starmer kneeling for the BLM movement and bowing to immigrant communities after riots.
We know the saying: "Weak men create hard times, and hard times create strong men. And strong men create good times, and good times create weak men."
Ask yourself if your tax money should support such a government.
Ursula Von der Leyen re-elected
With the re-election of Ursula Van der Leyen, the EU is signing its final death warrant. During the coronavirus pandemic, she ordered 4.2 billion vaccines for 440 million people through secret contracts with Pfizer.
The current insane policies that will lead to the EU's destruction are about migration, The Green Deal, energy supply, electric cars, war, and rebuilding Ukraine. Bottomless pits into which money is being dumped.
All this will lead to an unprecedented economic catastrophe. A catastrophe that has already begun but will unfold in full force if the EU continues down this path.
And with UVL's re-election, this path is guaranteed.
Contact us if you do not want to contribute or sponsor this madness.
100% control of funds
More clients are looking for alternatives and backups for Banks and Fintechs. One option is crypto, but our more traditional clients fear the volatility. USD stablecoins are the solution: 1USDT=1US$. The current market cap makes USDT the third crypto after Bitcoin and Ethereum.
A hot wallet is a wallet that holds your cryptocurrencies. It is not linked to any financial institution, fintech, trading platform, or exchange. You have 100% control. That means hot wallets can transact directly over the blockchain without an intermediary. Nobody can stop, or block transactions or funds, unlike banks.
This system is magnificent. We use Exodus Wallet, which is simple to use, beautiful in layout, and easy to install (but there are other similar wallets).
The Exodus wallet is suitable for long-term holding or accumulating larger amounts of USDT or any other crypto.
Most clients have a parallel crypto card, 'Crypto.com' or 'Wirex,' to which they can send USDT from their Exodus. Those cards are Visa or Mastercard, allowing you to pay day-to-day expenses. You send USDT to the card and pay for fuel at the gas station. Look into it. Debank.
This year, we will continue to focus on entrepreneurs and freelancers who want to drastically reduce their tax burden without moving abroad and prefer to avoid incorporating foreign companies. Both relocating and incorporating abroad are drastic decisions.
Financial privacy is one of our leading priorities, so we will persist in researching and developing ways to reduce the footprint of banks in our financial lives. Crypto, fintech, cash, investment funds, third-party payment systems, and precious metals are valuable tools in providing a counterweight for classical banking. Get in touch, we look forward to hearing from you!
There is a clear tendency towards doing business without the burden of maintaining a physical foreign company while paying no tax.
Running an (offshore) company nowadays requires substance, transfer pricing regulations in case of international branches, and the quest for opening bank accounts becomes more and more of a challenge.
Bank Compliance, FATCA, CRS, AEOI, KYC, and AML procedures lead to more bank account closures than openings.
Add to that, traveling is difficult with the COVID-19 pandemic. Therefore, running under the umbrella of a so-called existing 'kangaroo' company becomes more attractive; there is no company, no foreign accountants, no need to travel, no substance, no KYC, no CRS, no AEOI, no tax returns to file...
Check out our free case study in case you are interested.
People ask us why Financial Privacy is essential if you have nothing to hide.
Well, here is a recent example.
As a compliant citizen, all your income is declared, you do not engage in terrorism, money laundering, or any other criminal (financial) offence. But you do like your freedoms and financially supported the trucker convoy in Ottawa. Banks are now blocking your accounts and assets.
Yulia Keating warned of this for decades, and that is why we support her work on our website. Get your assets out of the grip of the government. ASAP!
The UAE's Ministry of Finance recently announced a 9% corporate tax on business profits from June 1, 2023.
The tax will be applicable on income above Dh375,000 (90'000€) in a financial year.
It is another end of a legendary zero-tax jurisdiction.
The tax world is gradually moving away from offshore zero-tax jurisdictions to mid-shore with rates around 10-15%.
Get in touch if you want to find out more.
After being on the backburner, in 2021, clients (re-) started to inquire about cash and whether there are still possibilities.
Yes, there are solutions for non-criminal money, but the process is slower, more complex, and requires different approaches. Walking in with a suitcase of banknotes and having it in a bank account the next day is impossible. But we have the impression that cash is on the rise again in the current climate of financial insecurity, looming hyperinflation, and possible bail-ins. At least, that is the feedback we get from handlers, hawaladars, and executives of parallel money circuits.
Hawaladars in 2022 use cash, crypto, and traditional bank accounts to transfer money, not at all affected by FATCA or CRS, in case you wondered.
More and more clients worry about the current state of the economy, the global money printing, the supply chain problems, inflation, and the monetary system in general.
One train of thought is that raising taxes will not suffice to pay for the Corona crisis. Governments and banks might decide to turn to bail-ins: saving governments by repossessing your money. They did it years ago in Cyprus, and it worked. No mass protests, no fire in the streets, no revolution, no killings. Just take away the client's money, and all is fine. Why not repeat it now?
So what is the antidote?
Well, we know of some. What about converting company profit into gold for example? Imagine, instead of paying taxes, you receive gold. Out of reach for taxes, government repossession, and easy to inherit.
We can't tell all here because the taxman is a subscriber too.
Get in touch.
CRYPTO is one of the tools to escape the growing grip of banks on our financial transactions.
Opening foreign bank accounts is a pain. International payments are under scrutiny, with more and more supporting documents required to wire money.
Apart from that, more and more of our clients are traders or professionally involved in the fascinating world of cryptocurrencies. They need practical solutions, where most of the traditional financial advisors don't know how to classify crypto gains and how and where it is best to cash out.
Traditional banks often are hesitant to deal with crypto, virtual assets, and cashouts.
Read all about the problems and ways around it in Yulia Keating's most recent ebook: "Stealth Finance".
To prove we are serious about Crypto, we need skin in the game. Therefore, we accept payments in XMR for our consulting services.
We ALWAYS start with the numbers.
1/ How much tax (A) are you paying now?
2/ What is your situation, and how can we optimize it?
3/ We re-calculate the new and lower tax numbers (B) with our solution.
4/ (A)-(B) = your tax savings.
5/ Implementation of the strategy -> Your low-tax life starts.
The recent pandemic shifted a lot of people from offices towards their homes, working alone. Therefore, many employees live almost a freelancer lifestyle, which is why some are considering it.
With shifting from employee to freelancer to digital nomad lifestyle, one takes taxation into their own hands, which brings you here.
People without employees, freelancers, have fantastic tax optimization possibilities. The more clients they have, the more international their projects and their clientele, the easier to lower the tax bill. From that perspective, digital nomads have the best zero tax options.
Get in touch to discuss your situation.
With the end of the year approaching, we start working on our new year's resolutions.
The main event of 2020 was, without a doubt, the Covid-19 pandemic. One of the side effects was that international travel became a challenge, and flying to set up an entity and opening a bank account was impossible for several months.
We expect international travel to remain an issue for at least the first half of 2021.
For that reason, we will develop more remote tax planning solutions for our clients. Those solutions do not require the client to travel; incorporating entities with our representatives and lawyers using a POA and remote bank account opening where possible or alternative banking solutions.
In essence, enlarge the foundations we built during the second half of 2020 when helping clients stuck in lockdowns.
2021 tax planning resolution 2 - Avoiding classic banks.
Banks are a pain.
I wrote many articles on the challenges of working with banks nowadays, and I will not repeat them all here.
Where a bank used to be glad to get your business, nowadays, the client is expected to be delighted to be accepted as a client and get a bank account.
2021 will become the year of de-banking where possible.
In 2021, our motto will be: less bank is more. We host creative solutions to avoid using traditional banks altogether, use existing umbrella bank accounts, or turn to alternative methods to keep financial assets.
Clearly, we are not giving away all our secrets here since the taxman is also subscribed to our newsletter.
Contact The Shark.
The days of tax evasion using off-the-shelf offshore letterbox companies are behind us.
Due to automatic exchange mechanisms, governments see through it.
Although there are still a few 'classics', all solutions need a tailor-made touch to ensure your tax optimization works and withstands the taxman's critical eye.
That is why our masterclass, which offers 8 low/no-tax solutions, is complemented with a 1-on-1 consulting session where we'll zoom in on your specific situation. And we guarantee that at least one of the eight tax optimization schemes will work for you.
Get in touch; we'll be glad to be of assistance!
Belgian communist party PVDA and socialist party SPA propose to have the wealthy pay for the Corona Crash.
In a country where top earners pay 50% of income tax, the left-wing says the time has come the wealthy pay their fair share.
The communists suggest a 5% repossession of assets above 3M. Download our free ebook to get more insight in what economic fallout is to be expected from the Coronavirus.
It is becoming evident that many countries are starting to prepare for additional wealth taxation to pay for the economic fallout due to Coronavirus.
France, Spain, Belgium, and Germany have suggested it already, and we expect to get more of the same in the coming months.
A political message to have the rich pay for the virus is more comfortable to swallow by the general population.
If you are wealthy, now is the time to protect your assets.
Consult our books on the matter before new wealth taxes are in place.
Roughly a decade ago, it was easy to avoid paying taxes by opening an offshore company in a jurisdiction with a bank secret.
However, bank secrecy does not exist anymore, and, even worse, your bank account information is exchanged automatically between more than 110 jurisdictions.
This renders a classic offshore structure useless for tax purposes. The good news is that you don't need an offshore company for low-tax solutions.
Get in touch.
German SPD Party leader Saskia Esken (58), in conversation with the “Stuttgarter Zeitung” and the “Stuttgarter Nachrichten,” brought a one-off property tax into play to deal with the financial burdens of the Corona crisis. E
sken: “We will need a fair burden-sharing, and for the SPD, a one-time tax is one of the ways to get public finances in order after the crisis. ”
The message is clear; start protecting your assets now. Other countries will follow, and soon it will rain new taxes on you!
Contact us for help.
Many countries are approaching the peak of this Pandemic.
It is still developing full force in the EU and the USA. What can we expect once this Corona Pandemic blows over?
Without any doubt, this virus rocked the world. And apart from human suffering, the economic fallout will be catastrophic. In the middle of this storm, Governments are now announcing financial help and relief to industrial sectors and companies that suffered the most.
However, this solidarity and financial aid will come at a cost, representing a heavy burden to governmental budgets.
And sooner or later these bills need to be paid.
Be prepared.
The French Supreme Court recognizes the decision of the Paris Court of Appeal of January 2019 that an Uber driver is an employee and considers that the status of any self-employed worker is "fictitious."
That opens the door for drivers to claim benefits and for the government to impose heavy taxation.
This judgment will affect all platforms that are inspired by the Uber business model.
For some reason, the most absurd taxation ideas seem to originate in France.
Where former president François Hollande introduced (but had to withdraw) a 75% tax on millionaires, this time left-wing economist Piketty proposes a radical redistribution of wealth in his book 'Capital and Ideology'.
Apart from handing over large quantities of company shares to workers, taxation up to 90% is on the menu - a tendency we see more and more in the EU with the elite economists. Belgian professor at the London School of Economics Paul De Grauwe flirted with the idea of entirely repossessing an individual's wealth upon demise. This making it impossible to inherit from your (wealthy) parents.
Start hiding your assets before it is too late! Read 'Asset Protection and Hiding Health' from Yulia Keating as an antidote to this madness.
Available here under eBooks.
HMRC is targeting crypto tax evaders starting February 2020, offering a contract worth £100,000 for software that identifies when cryptocurrency is used to avoid paying taxes.
The tax office recognizes in a statement that the payments made available by crypto might be used for tax evasion and money laundering.
Crypto-currency, such as Bitcoin and Ethereum, provides a means to transfer value between interacting parties.
These services are increasingly used for a range of purposes, from international money transfers, the sales services, paying staff, tax evasion and money laundering.
On 6 February 2020, the Portuguese Parliament approved the 2020 State Budget Law, which amends the NHR tax regime of pension income.
Pension income from non-Portuguese sources will now be subject to personal income tax in Portugal at a special rate of 10% (including income earned in the form of lump-sum payments).
In the 2020 Finance Bill, the Italian Government announced its intention to step up combat against tax evasion.
The new package includes a rule that enables the seizure of the assets of the person suspected of a tax crime right from the start of a criminal investigation.
Furthermore, the seizure would no longer be limited to the amount of the evaded tax, but would automatically extend to all assets that cannot be justified.
It is the same draconian measure reserved for members of criminal associations, mafia, and Camorra.
The shark hopes that you do not make a typing error in your tax return!
In total, 80GB worth of data has been stolen from Formation House.
Formation House is a London based, company formation agent renowned for incorporating offshore and shell companies.
It is run by a Pakistani origin family, that allegedly outsourced a significant part of its work to Karachi with Pakistanis using western sounding names to communicate with clients.
Another major case of data theft is in the books.
December 2019
If you are as outraged as Yulia Keating about politicians imposing massive taxes on their citizens while, at the same, time displaying sheer incapability to manage their countries' budgets, her new book might be for you.
She presents several ways for companies to reduce their tax burden below 10% and reveals tips and strategies to shift profit between entities.
Keating formally debunks the myth that (international) tax evasion exclusively benefits large global corporations, by demonstrating that even the local bakery can slash its taxes.
A mandatory book for every business owner.
Available on this website under e-books for the price of lunch.
We are confronted with unique clients and entities, no two are the same.
Not only the clients' backgrounds and their current tax levels are different, their requirements and future tax expectations also vary.
In general, clients who sign up with us end up with a total tax burden between 0% and 10%.
The amount of tax a person or a corporation pays is a choice. The 'left' is outraged by these kinds of statements but it is the truth. When a client says that he'd rather be dead in a ditch than paying taxes, we'll make it happen.
Avoiding tax used to be as easy as pie. Today it is complex and it requires a holistic approach to the investor's situation and oftentimes requires important concessions from the client's side.
Check out our e-books on the matter.
Bank Secrecy is dead.
Financial Privacy is dead.
Find out how to stay below the radar.
Yulia Keating's book explains in detail how global mechanisms terminate bank secrecy and financial privacy in general.
The book offers explosive content and methods on gaining back your precious privacy and reveals radical and unheard ways to stay below the CRS radar.
Available in our webshop as an e-book.
The EU is a money devouring machine producing more legislation than a horse produces manure.
Hence, the UK voted to leave.
It is also home to the OECD, the main engine driving CRS and AEOI. A part of our clients and investors have European roots but the sheer volume of legislation, rules and procedures make it very difficult to operate.
On December 31st, 2019, the OECD 'Mandatory Disclosure Rules' come into play, giving authorities the power to nail every accountant or tax lawyer that uses the word 'tax optimization'.
Within the EU we also notice growing resentment against successful and wealthy people in general. Being 'rich' seems to be a bad thing.
And although we still work with European clients and investors, we organize our own business from outside the EU.
Delaware has the reputation of a very open and business-friendly corporate environment.
Indeed, it is relatively easy to incorporate a 100% foreign-owned LLC.
The problem, the bottleneck is the opening of a corporate bank account for that LLC.
Without an American footprint, without US residency or a Social Security Number, no bank in Delaware will open a bank account for your company.
And believe me, we visited every bank in the State, let no one tell you otherwise! It goes without saying that without a bank account, your company is as attractive as a bar without drinks.
One of the reasons we are strongly opposed to AEOI is the risk of hacking of the platforms.
Since tax authorities gather information from all banks in a given jurisdiction, such a platform is a 'sitting duck' for hackers.
By hacking one platform they get their hands on the data of all banks in that jurisdiction.
Add to that, that CRS platforms are relatively newly developed and one sees the immediate danger.
That is what happened in Bulgaria recently; the government platform got hacked and bank account information of millions of people and companies is now in the hands of a bunch of criminals.
And let me tell you this; it will happen again.
Yulia Keating wrote an interesting book about these matters: 'Financial Privacy 2020, find out how to stay below the radar". Available in our e-book store.
US citizens have 2 major problems in their quest to avoid tax.
Number one is the fact that they are taxed based on their citizenship instead of their place of residency.
An American living and working in Dagestan since 1986 without setting foot on US soil, has tax obligations towards the USA.
Problem two is FATCA.
Every financial institution on the planet has to report US citizen's bank accounts to the IRS. So the USA will find out automatically and without inquiring, about the Dagestan bank account.
The days that a company could successfully open a subsidiary with only a PO box address are over.
Nowadays, the keyword is 'substance'. If you were to operate a trucking company, the taxman wants to see substance in the low tax jurisdiction; a brick and mortar office, staff, trucks, a workshop, truck drivers and technicians.
But what if substance were for sale...?
The Financial Privacy Network is a non-commercial think tank dedicated to Financial Privacy.
They believe that a person's financial situation is a private matter and that privacy is a basic right.
Therefore a person's financial data and information should not be disclosed nor exchanged.
Their mission is to inform and offer counterweight to transparency crusaders who want all your financial data to be publicly available, registered, and exchanged.
They offer a lot of free info and videos on YouTube:
We get asked whether the AEOI, 'Automatic Exchange Of bank account Information' really works and is operational.
Rumors circulated that some of the 110 CRS- countries, in reality, would not effectively exchange information automatically.
Some of the jurisdictions named were the UAE and Panama. Allegedly, they just signed up to be compliant and divert attention.
However, we can officially debunk this myth.
Both jurisdictions comply with CRS reporting obligations.
As a matter of fact, we have clients turning to us after their bank account information got exchanged by both the UAE and Panama.
CRS is to be taken dead serious!
The OECD, the author and watchdog of CRS and AEOI, developed the EU "Mandatory Discloser rules for CRS avoidance...".
In short, EU intermediaries (tax lawyers, accountants, service providers,...) have to report and disclose clients that are interested in aggressive tax planning and structures hiding the UBO.
Those intermediaries will also be held responsible for structures they set up for their clients.
The bottom line, if you are looking for a tax advisor in the EU to help you drastically cut taxes, this will almost impossible as per December 31st, 2019.
By end of 2019, all classic offshore tax havens have signed up with CRS.
That means that foreign bank account information is automatically exchanged between jurisdictions yearly (AEOI).
We are talking countries like Switzerland, Panama, Liechtenstein, The Cayman Islands, the United Arab Emirates, and more than 100 others.
These automatic exchanges of information are a lethal weapon against tax avoidance.
Financial Privacy is dead!
Several high tax countries in Europe collect roughly 60% of their citizens' income in taxes and social security contributions.
An employee costing 100€ to his employer, takes home 40€ net.
Or, they work from January to the end of July for the government.
Add to that another month (August) worth of VAT (~20%) from spending, groceries and paying bills.
Add September for real estate taxes and the verdict is that Citizen X works 9 months out of 12 for his government.
On October 1st, citizen X pockets his first net Euro.
If you consider this to be fair taxation, good for you! If you think such numbers equal repossession, this website is for you!