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cash in outside US

vidra86

By vidra86,
in RV & Dinar Questions

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Posted
Posted

Ali of Dinartrade.com will be over there somewhere cashing Dinars.... Can't remember where but call his office.....Toll Free: 1-877-770-7660

GO RV !!!!!!

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umbertino Grand Master

umbertino

Posted
Posted (edited)

Ali of Dinartrade.com will be over there somewhere cashing Dinars.... Can't remember where but call his office.....Toll Free: 1-877-770-7660

GO RV !!!!!!

Yes...His only European Office in Europe so far is located in Bradford, England which is not too far away from Leeds..But I personally think that once the IQD is considered tradable/convertible/exchangeable then any major Bank will accept to exchange it for their Customers.

Edited by umbertino
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DinarDiva007 Newbie

DinarDiva007

Posted
Posted

Going straight to the Isle of Man or Zurich there is no way in hell the IRS is getting 35% of my money and I'm converting it to Euros, Silver, and Gold since the dollar is falling

From what I have heard is Switzerland has caved to the mighty US IRS and gave up info to them. You might want to do some research on that. Can not comment on the other place

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Lilalbertus Newbie

Lilalbertus

Posted
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Just curious but how are you transferring the currency to Zurich or Isle of Man?

I plan on cash in only 1,000 dinars and flying there

From what I have heard is Switzerland has caved to the mighty US IRS and gave up info to them. You might want to do some research on that. Can not comment on the other place

Im just going there to exchange currency and open an account. NOT cashing in America they can't tax what they don't know about.

Technically the US government can only tax the money made in the Country, Dinars where not made in the country there offshore. and cashing in only 1,000 dinar at a rate of 3 is under 10,000 so the IRS won't be flagged.

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PAPATOM Newbie

PAPATOM

Posted
Posted

Going straight to the Isle of Man or Zurich there is no way in hell the IRS is getting 35% of my money and I'm converting it to Euros, Silver, and Gold since the dollar is falling

I hope you have researched what you are doing. Once the Dinar R.I.s , you'll have to report it when you travel from the U.S. to anywhere outside our borders...or risk getting caught if you DON'T report

it. Then, there is the problem of Banking rules...KYC in particular. If you are an American Citizen, it could be very difficult to find a foreign bank that will open an account for you, even in Euros or some other currency other than dollars. They don't like the pressure that the IRS imposes on them regarding U.S. citiens....so many of them just won't deal with an American.

so again, I hope you have researched your plan and know exactly whom you will deal with when the time comes. OH, and then there is the Fbar report. If you plan on living in America, you have to answer questions as to ownership of any foreign asset.....if you say you don't have one, and you do and get caught, it's like a 10 year federal offense...and 100k fine. If you do admit to having a foreign account, there is a Foreign Asset Tax that I think is about 30% per year on the size of the asset...not the use of it.

so i hope you have researched what you are planning on doing.....it's not as easy as it seems to be. "just fly somewhere and open an account".....nope....not easy at all.

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14Mil Newbie

14Mil

Posted
Posted

The Wall Street Journal had an article on US Taxes for Americans living outside the States. It basically said that the US is one of the few major countries that taxes their citizens no matter where they make the money and no matter where they live. The only possible solution is that you would have to forfeit your US citizenship. But that may only help for any money you made after you forfeited. So if you already made your millions, you will be looking over your shoulder for a long time. On the other hand, there are lots of countries that will let you become a resident if you can show stable income and/or have substantial assets (substantial may be rather low by American standards). We've looked into Thailand, Singapore, Costa Rica and Manila with very positive results.

Like others on this site, I'd recommend you hire a tax attorney and CPA to get insights on legal ways to avoid over paying taxes.

Best of luck.

Go RV!

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PAPATOM Newbie

PAPATOM

Posted
Posted

The Wall Street Journal had an article on US Taxes for Americans living outside the States. It basically said that the US is one of the few major countries that taxes their citizens no matter where they make the money and no matter where they live. The only possible solution is that you would have to forfeit your US citizenship. But that may only help for any money you made after you forfeited. So if you already made your millions, you will be looking over your shoulder for a long time. On the other hand, there are lots of countries that will let you become a resident if you can show stable income and/or have substantial assets (substantial may be rather low by American standards). We've looked into Thailand, Singapore, Costa Rica and Manila with very positive results.

Like others on this site, I'd recommend you hire a tax attorney and CPA to get insights on legal ways to avoid over paying taxes.

Best of luck.

Go RV!

OOPS...don't forget the EXPAT tax. if you choose to give up your citizenship, it starts with your last 5 years of returns to be redone...then pay that amount, then you'll owe taxes for some more years....it's not easy to get away...

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DinarDiva007 Newbie

DinarDiva007

Posted
Posted

OOPS...don't forget the EXPAT tax. if you choose to give up your citizenship, it starts with your last 5 years of returns to be redone...then pay that amount, then you'll owe taxes for some more years....it's not easy to get away...

Hmmmm, and we are suppose to be the " Land of the Free"??? :angry:

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Don Paul Newbie

Don Paul

Posted
Posted

OOPS...don't forget the EXPAT tax. if you choose to give up your citizenship, it starts with your last 5 years of returns to be redone...then pay that amount, then you'll owe taxes for some more years....it's not easy to get away...

there is however about an 82k per year exemption. i think UK taxes its expats also, but not to the same extent.

I just heard most countries are increasing their residency requirement times. Uruguay is thinking of also having any expats living there pay taxes on out of the country income as well.

in mexico city there is a 3 month wait to go turn in your US citizenship at the US embassy. there are 500k americans living in mexico alone...

I dont think uncle sam likes it

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Orv Newbie

Orv

Posted
Posted (edited)

Makes me wonder what to do as I am Canadian.Our tax guys are so up to date that they still have 3 boxes of pink erasers 15 pencils that read Dominion Bank of Canada the water cooler still has a peace sign on it and is ifiltrated with Maple Syrup-- Now that being said-I have thot of moving also. I want a place where there is no problem in living and im tired of the fighting this crazy world is doing. Yupp i want to stick my feet into sand and oranges-( ALL THAT VITAMIN c- AT LEAST YOU WONT HAVE SCURRVY) anyway back to reality--- where was i-- oh- I read that so many countries are safe-- I think what is safe is put your money somewhere and make darn sure it is ALL in metals. You dont pay tax on that- Then go find a place that is waayyy out of the way and stay quiet and grow a garden wear clothing that identifies one with the taste and cuisien and people and be friendly and dont let on about NOTHING. Buy a gun get a Big dog and a little one for companship for the big one . and they make great door alarms. Will defend to the death then the BIG one takes over. That is called - you get the left overs. But just get out of the way- You guys talk about getting boats and planes and stuff. Me i just want quietness i know that is my opinion. But you have to STOP and really think that if this gets out of hand everyone that you dont want to know will know. Back out of the picture quietly that way you dont have to say anything. We had a neighbour that left town 5 weeks before anyone knew he was gone. Lite monitors turned them on and off no mail no paper cars still in driveway. then everything was gone. He had sold the place and had things moved when he was gone --Best disappering act i ever saw --Made me laff for years when i think about it-- Maybe you all should to- Now any advice for hiding money in Canada or out.. Thanks- i learn alot here so im stayin---

Edited by Orv
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hrdbawl Newbie

hrdbawl

Posted
Posted

I plan on cash in only 1,000 dinars and flying there

Im just going there to exchange currency and open an account. NOT cashing in America they can't tax what they don't know about.

Technically the US government can only tax the money made in the Country, Dinars where not made in the country there offshore. and cashing in only 1,000 dinar at a rate of 3 is under 10,000 so the IRS won't be flagged.

Let me get this straight as I was following your logic until you said you were going to fly over there for a measly 1,000 Dinar? If it went $3 to 1 Dinar and you did pull off $3,000, the flight will damn near be that much. Just curious as I was trying to look outside the box and thought you misprinted what I would have guessed to be 1 million Dinar and then that might make more sense. :P

Hmmmm, and we are suppose to be the " Land of the Free"??? :angry:

We should all know by now that Freedom is expensive. Whether it be with lives or money...it is expensive no matter how you slice it!

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