Entries by Christian Reeves

Offshore Shelf Companies are of Little Value

I’m frequently asked about the use of offshore shelf companies in international business. If you are debating between forming a new offshore corporation or buying an offshore shelf company, read this article before spending the extra cash. Some online incorporators market offshore shelf companies as the greatest invention since the numbered bank account. I think […]

Offshore Banks Begin Reporting Under FATCA

The Foreign Account Tax Compliance Act is now live and pulling in data about Americans around the globe. The FATCA international data exchange gateway opened on March 2nd and data began flowing on March 14, 2015. The FATCA gateway connects nearly all international banks in to the IRS network. Banks will report all accounts owned […]

Russian Second Passport and Citizenship

Russia will begin offering second passports and economic citizenship in early 2015. The law authorizing citizenship by investment was passed on June 23, 2014 and we await its implementation. Expect second passports to be issued by Russia in the next few months. This is the first world power to offer a second passport or economic […]

International Money Lending License

The international money lending license came into its own in 2010 when the US began pushing out payday and other lenders of last resort. A number of offshore jurisdictions welcomed them with open arms and the battle with American regulators was on. By 2012, many of these lenders moved from offshore licenses to those issued […]

How to Finance Real Estate Overseas

To finance real estate overseas you must jump through all kinds of hoops and apply to multiple lenders in hopes of getting a decent rate. Compared to applying for a mortgage in the U.S., the battle to finance real estate overseas can seem confusing at best and silly at worst. First, lets talk about why […]

Aged Population to Stress the Economy

Aged populations will be the norm by 2020, placing a great deal of stress on world wide economic systems, especially those founded on government backed treasuries and bonds. Other areas of weakness will be Social Security and Medicare. As our population ages, we can expect higher taxes on our IRA and passive investments. Here’s why […]

The IRS Data Collection Machine

Much like the NSA, the IRS data collection machine is building a file on all Americans. It’s online now and will be ready to use in all audits within one year. The IRS collects more useful data on you than does the NSA and will begin making it available to auditors shortly. Some IRS data […]

Prepare for an Offshore IRS Audit

There’s no worse feeling in the world than coming home to a letter from the IRS telling you that you are being audited … until you get notice of an offshore IRS audit. No matter how organized you are, you should fear the great IRS. If you have unreported accounts or become the subject of […]

How to Close an Offshore Company

Did you form an offshore company but the business didn’t go as planned? Do you need to close an offshore company? There are two ways to go about this. To close an offshore company that’s never done any business and has not yet opened a bank account, “allow it to die a natural death.” This […]

Panama Tax Review

If you’re an American living, working, or investing in Panama, the Panama tax system is your friend. The Panama tax code may allow you to live tax free in Panama and, possibly, in the United States. This Panama Tax Review will explain how to reduce your worldwide tax bill. Before getting in to specifics, it’s […]

Panama 2015 and Beyond

Panama 2015 looks to be a great investment  with continued growth of 7%.  While the tiny economy will face a number of challenges, chief among them is competition to its canal, expect solid returns to continue. First, a brief mention of Panama’s 2015 banking sector.  Significant amounts of wealth will continue to flow in to […]

Foreign Assets and FBAR Reporting

Ever increasing U.S. reporting obligations on Americans living, working, and/or investing abroad, make it difficult to keep up.  This is a review of your foreign assets and FBAR reporting requirements.  Foreign assets are reported on IRS Form 8938 and the FBAR is sent to the Treasury on FinCEN Form 114 (Report of Foreign Bank and […]

UK to follow IRS Levy Rules

The U.K. tax authority to allow IRS Levy type actions. If you owe the HMRC, they now have the authority to seize your bank account and raid your assets, just like an IRS levy. Now, it’s no surprise that the U.K. is following in the footsteps of the mighty IRS levy. It’s just interesting that […]