Isn moving assets offshore illegal?
There is nothing illegal about moving assets offshore. It is when you move the assets into accounts offshore and do not declare their existence to the tax authorities that you break the law. Any assets over which you have control, domestic or offshore, are probably liable to taxes in your home jurisdiction.
There is nothing illegal about moving assets offshore. It is when you do not declare their existence to the tax authorities that you break the law. Any assets over which you have control, domestic or offshore, are probably liable to taxes in your home jurisdiction.. It is your responsibility and decision to report or not to report to the tax authorities in your country that you do business offshore. However, you should obtain a professional tax attorney or a domestic accountant for your tax reporting requirements in your country of residence WHY SHOULD I MOVE OFFSHORE? Moving some of your assets offshore provides you access to modern methods of protecting your assets and reducing your taxes using international corporations and foundations.
