Offshore Money Book, The : How to Move Assets Offshore for Privacy, Protection, and Tax Advantage

Offshore Money Book, The : How to Move Assets Offshore for Privacy, Protection, and Tax Advantage
Arnold Cornez | 2000-04-01 00:00:00 | McGraw-Hill | 288 | Economics
Here is a timely, comprehensive, and invaluable guide to using offshore investing as a method of asset protection. From evaluating places in which to invest to avoiding offshore scams, this easy-to-understand book provides you with all there is to know about keeping the money you earn.
Reviews
This book covers most of your questions and describes the basics for banking and corporations established outside the US. It tries to give you the pros and cons of each type of company and a list of places to look into. While it may not be the only book you'll ever need, it does a nice job of detailing what you'll need and how to go about the process of offshore management of finances and protecting your assets. It would have gotten 5 stars if it had been more recent. Still, its' quite worthwhile compared to what else is out there.
Reviews
This book lets you understand the fundamentals of offshore investing to protect yourself from lawsuits and avoid unnecessary tax liability. It focuses on the legal way to avoid exposure. This book is worth the money, but nothing outstanding.
Reviews
Famous authors of several other books like this one, for example Jerome Schneider, have already been * convicted * of tax fraud and have handed over their entire client lists to the US Government.



There is no legal way of avoiding US Taxes through offshore banks, offshore trusts, or numbered accounts. These things are only good for:



1.) Asset protection

2.) Diversifying investments/access to greater variety of investments



and that's it. Be wary of advice in books like this one if you are using them to avoid taxes.



If you don't like paying high taxes, give up your residency, hand in your passport and get citizenship in a country with lower taxes.
Reviews
If you are looking for a "feel good" book that only gives you the sugar frosting about offshore without warning you about the many pitfalls, then this book isn't for you.



On the one hand, if your interest is learning about the realities of offshore banking and tax reporting for U.S. citizens, etc., the you will find this a good starter guide. It's also chock full of interesting stories based on Mr. Cornez's personal experiences in the offshore havens.
Reviews
This is a good book for teaching newbies the basics of how to go offshore, open bank accounts, and (perhaps most importantly) avoid offshore scams.



The book needs to be read in light of recent revisions to the Patriot Act and new currency transfer reporting requirements. Don't even think of going offshore if your goal is to try to hide money from Uncle Sam, since if your particular plan fails it will probably end up being felony tax evasion.

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