Belize offshore secrecy ill at ease with UK politics and US authorities

[umbertino]

How US tax inspectors fear firms and individuals are using Lord Ashcroft’s bank to hide assets and evade tax

Simon Bowers

Tuesday 2 August 2016 17.07 BST

Lord Ashcroft’s BBI and BCS in Belize have been blacklisted by US tax authorities.

Photograph: Alamy Stock Photo

 

https://www.theguardian.com/business/2016/aug/02/belize-offshore-secrecy-ill-at-ease-with-uk-politics-and-us-authorities

[tjokie]

While I was there last year visiting one of the owners of The Placencia Lord Ashcroft's yacht was docked there having a party.  The owner, Wayne Robbins, was telling me that he is known as a modern day pirate in some circles.  He pulls a lot of weight in the Caribbean.  I have no doubt that there is truth in the article.  

Also, while there in January, I spoke to a couple of folks in banking and did some reading in the local newspapers.  It seems that many Belizean banks are difficulty with FATCA and Major Credit Card companies.  If they want to continue to do business in USD for cc transactions they have to have a US affiliate relationship.  In order to do this, they have to be FATCA compliant and it is incredibly expensive and taxing on their already burdened economy.  There are a few banks who only do transactions in Belizean $ and it's not an issue, but losing the ability to conduct USD cc transactions could have a major impact on the tourist trade.  Just added info I thought about.  Not related to the article in question.

[Adam Montana]

In response to something that was posted in the VIP section:

There are quite a few banks that no longer do business with US citizens thanks to FATCA. 

There are also a couple that still do, and I'm confident that my contacts in the banking industry will keep us operating our legal offshore strategies long into the future, despite what Uncle Sam likes or does not like. 

 

[Muleslayer]

thank you for weighing in sir.

as buddy on night court used to say,

I am feeling much better now!

[RodandStaff]

Sandfly Adam!!!  

[millionaire in training]

Thanks for chiming in........

[Caye98]

Hong Kong anyone? 

[millionaire in training]

11 minutes ago, Caye98 said:

Hong Kong anyone? 

YEP......

[Wiljor]

2 hours ago, Caye98 said:

Hong Kong anyone? 

Anywhere relatively safe and quiet, if their is such a place

[Adam Montana]

4 hours ago, Caye98 said:

Hong Kong anyone? 

Hong Kong is amazing for asset protection and you better believe it's part of our OSI future!

My last visit to Hong kong and Macau are still fresh on my mind... China is a big deal.  

[ChuckFinley]

Thanks for these post.  I am looking forward to doing business on an international level.