15 replies
This thread was a mistake from me, please remove dear moderator! ^^,

Take Care & Have An Awesome Day, Fellow Warrior! / Max "MaxTheMarketer" K.
#account #bank #open #swiss
  • Profile picture of the author nathan1
    Real life =/= movies
    Signature
    Quality Ties at Affordable Prices
    Men's Tie Deals
    Promo code WARRIOR = 10% off!
    {{ DiscussionBoard.errors[7708223].message }}
  • Profile picture of the author Tsnyder
    Here's a thought... your location says you live in Sweden...

    Go ask a banker there.... or, hey! Give them a call!
    Signature
    If you knew what I know you'd be doing what I do...
    {{ DiscussionBoard.errors[7708234].message }}
    • Profile picture of the author nickswift
      Originally Posted by Tsnyder View Post

      Here's a thought... your location says you live in Sweden...

      Go ask a banker there.... or, hey! Give them a call!
      Switzerland = Swiss
      Sweeden = Sweedish
      {{ DiscussionBoard.errors[7708331].message }}
      • Profile picture of the author Tsnyder
        Originally Posted by nickswift View Post

        Switzerland = Swiss
        Sweeden = Sweedish
        LOL... I misread that... my mistake! Apolgies to the OP!
        Signature
        If you knew what I know you'd be doing what I do...
        {{ DiscussionBoard.errors[7710713].message }}
  • Profile picture of the author rendell
    While a Swiss banking account aims to protect anonymity, in recent years, if the court order the disclosure, the bank will still need to disclose.
    Anyway, just go to any swiss bank like how you want to open a normal banking account: List of banks in Switzerland - Wikipedia, the free encyclopedia
    Signature

    .
    Ever notice that people who spend money on WSO, memberships and courses, are always complaining about being broke and not making any money ?

    They should have bought ASSETS instead.

    {{ DiscussionBoard.errors[7708270].message }}
  • Profile picture of the author rosetrees
    Why can't you open an account in Sweden? Don't they accept Paypal or are you not who you say you are? Don't you already have a Swedish bank account?
    {{ DiscussionBoard.errors[7708316].message }}
  • Profile picture of the author RyanGillam
    You are just going to be making it difficult for yourself to go that route. There would be charges to withdraw in SEK for a start. You will also still need to account for your income for tax purposes. I mean, I live in Sweden, get paid in England but Sweden still wants to know about my income from other countries (i don't have to pay tax in Sweden though as I pay it in England)! Just get a bank account in Sweden, going to be the easiest thing for you.

    What are your reasons for a Swiss bank account?
    {{ DiscussionBoard.errors[7708325].message }}
  • Profile picture of the author CyberAlien
    If you were at the point you needed a Swiss bank account, you'd already know how to open one.

    To start with, PayPal isn't going to let you do that - they will catch on very quickly that you're illegally laundering money and will still report your earnings to the IRS. Furthermore, most Swiss bank accounts have a minimum deposit of $50k to open them and you must maintain that balance in order to keep it open.
    {{ DiscussionBoard.errors[7708455].message }}
  • Profile picture of the author MaxTheMarketer
    [DELETED]
    {{ DiscussionBoard.errors[7709002].message }}
    • Profile picture of the author Thomas Smale
      Originally Posted by MaxTheMarketer View Post

      Hello there again! Thank you very much for your replies.

      I see... there is just no way of trying to get tax-free money I guess!

      I am curious though about the legality regarding accounting online products, I mean, if you have unlimited of products (since it is electronical) how do you account that in your accounting?

      I have never been good with the law. The so called "IRS" in Sweden is called "Skatteverket" and their laws and rules are mostly based on offline business so it is interesting how they would apply it to online business (not e-commerce where u sell offline products).

      Thanks for all your replies! / MaxTheMarketer.
      Why are you talking about tax evasion on a public forum where you have a real picture of yourself and link to your personal website?

      Pretty stupid.

      My advice: go speak to an accountant. If you're asking basic questions like this, I doubt you are making enough money to justify an offshore setup in the first place.
      Signature
      I specialize in selling websites over $10,000 in value. No obligation, confidential valuation here.
      {{ DiscussionBoard.errors[7709042].message }}
    • Profile picture of the author maxcl
      Originally Posted by MaxTheMarketer View Post

      I see... there is just no way of trying to get tax-free money I guess!
      I am English, but I live and work in Switzerland.

      Believe me, I have looked into trying to get tax free money, and yes there are ways of doing it...

      ... but what it came down to with me was could I sleep at night?

      Tax evasion in Switzerland is not a criminal offence - eg you will not go to prison... however, if caught you have to pay them back ALL the money you earned - not just the un-paid tax.

      Essentially what I am trying to say is that it's not really worth it.

      Just plan in advance and pay your taxes - that way you can never get done for anything and can sleep at night.
      {{ DiscussionBoard.errors[7709131].message }}
      • Profile picture of the author maxcl
        Just to add - even if you do manage to hide money then you are going to want to use it at some point... and when you do red flags will appear.

        For example, you hide 100,000 Dollars then decide to put the money down on a house - the tax man in whatever country you live in is going to wonder where the cash came from.
        {{ DiscussionBoard.errors[7709136].message }}
  • Profile picture of the author Istvan Horvath
    I am curious though about the legality regarding accounting online products, I mean, if you have unlimited of products (since it is electronical) how do you account that in your accounting?
    Not only you are "not good with the law" - you are not good with accounting either

    You do NOT need to keep inventory of the (digital) products to be able to keep track of your income: have a precise record of your revenue and expenses - a good accountant/tax-specialist will calculate your net income and tax base.

    And as noted above: you are not good with the "common sense" either: talking about tax evasion in a public forum is not a very wise thing...
    Signature

    {{ DiscussionBoard.errors[7709293].message }}
  • Profile picture of the author JensSteyaert
    All you need is LOTS of CASH to begin with! You can't open a bank account in Swiss if you have a couple grant, just remember that..
    {{ DiscussionBoard.errors[7709304].message }}
  • Profile picture of the author Richard Tunnah
    I'll tell you a bad news story from my well known accountant in the 90's. It was that HRMC (UK tax authorities) raided a number of top accountants on one pretense but actually removed the swiss bank account details of a number of high net worth individuals. There after many got huge back tax bills for tax evasion and some lost their liberty. I don't know the tax laws in sweden but I'm guessing the government takes a dim view of tax evasion.
    Go the proper route and employ a accountant that can properly to set up your business to legally minimize your taxes. Money well spent.
    {{ DiscussionBoard.errors[7709357].message }}
  • Profile picture of the author theaccountant
    lol do you need some offshore tax advice . I am lic to practice in your country
    Signature
    www.sandalscashforgold.com- learn about making money out of gold and gold investment

    www.seducehotwomen.com- this is the real deal!!
    {{ DiscussionBoard.errors[7710744].message }}

Trending Topics