I am new to this world of making money online

[alasdeaguila]

Hello I am new to this world of making money online, I'm in some programs Money Cyclers & Matrix Programs, I live in uk I am italian nationality. My question is if I have an offshore account eg panama, Costa Rica, Seychelles, uruguay ect. I have to pay tax or no? I live in the UK , I do not have company. if anyone can guide me gonna be grateful.

[TheOffshoreAdvisor]

An offshore company and bank accounts does not necessarily release you of your responsibility to pay taxes in the countries where you are a tax resident as it depends on the laws and rules of those countries.

In most cases to be completely safe you need to speak to a local tax lawyer however be prepaid to pay 5,000 to 35,000 for advise on how to legally avoid taxes.

Most, if not all, incorporation agents do not offer tax advise as it is a highly specialized area and unique to each country. We form corporations and assist with bank account openings which has become difficult to open remotely.

We can tell you how to keep your offshore account secret but not if it is legal to do so.

[TheOffshoreAdvisor]

I can tell you one thing though, offshore corporations do not pay taxes, just a small annual fee. The question you need to ask someone in your country is if you as the owner have to pay taxes for the profits of a corporation you own.

There are some sophisticated ways to have a corporation and not be the owner or account signatory however it is 3-4 times more costly to setup than a normal offshore IBC and bank account and still may not be legal in your country.

[alasdeaguila]

Thanks for your answer, then what is the reason to have an offshore account?

[TheOffshoreAdvisor]

Originally Posted by alasdeaguila

Thanks for your answer, then what is the reason to have an offshore account?

Many do use it to avoid taxes (may not be legal though) or to hold funds and invest outside your own country according to the old saying "don't put all your eggs in one basket".

[alasdeaguila]

what is your skype?

[TheOffshoreAdvisor]

Originally Posted by alasdeaguila

what is your skype?

theoffshoreadvisor