This video shows the tax loopholes to circumvent the Automatic Exchange of Information and Common Reporting Standard. You learn how to keep tax neutral money tax neutral. You see how to avoid the reporting of bank account information to the country of residence legally.
The Common Reporting Standard is based on bilateral agreements and not on multilateral agreements. That means that it will take time until all this bilateral agreements are signed and ratified. Switzerland has the best bank IT systems in the world and multilingual staff with excellent education. Is this the case with all the other signatory states? I think not. It will take much longer than 2017 or 2018 until this reporting system will work with appropriate IT systems.

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One country can contest the data protection laws of his bilateral partner and decide to not deliver bank account information. According to the agreements, the start of the AEI is subject to strict respect of data protection laws. Retroactive reporting is not possible. Financial privacy will remain intact until such data protections laws work properly. That can take years and years. Many underdeveloped countries are offering residence certificates to investors. It’s very easy to obtain such certificates and present them to the bank abusing the benefits of a fake residence. The banks have not the instruments to check if such certificates are real or fake. There are several types of trusts which are not reportable according to the Common Reporting Standard.

A trust holding real estate is excluded, for example. If you have a trust and a physical person acting as trustee, no reporting. If you set up the trust carefully, there is no reporting obligation. I have found more than 40 loopholes with the Manual on the Common Reporting Standard. There are many offshore jurisdictions without public company register or company houses. Nobody can verify the people behind. Usually, the tax evaders are caught by the tax authorities due to a specific investigation and not due to spontaneous exchange of information. Other loophole: credit card companies offering payments not exceeding USD 50’000 are not reportable.

Bank accounts of operative companies are not subject to the AEI if the account balance remains under USD 250’000. If somebody wants to circumvent the AEI he opens plural accounts with less than USD 250’000. Investments with real estate are not reportable. A corporate account is subject to reporting obligations if the shareholders controls 25% and more. That means e contrario that a corporate bank account with 4 equal shareholders of 25% each, is not reported. Escrow accounts are also not reported. If you open bank accounts in the USA there is not reporting. In fact, there are many Swiss asset managers moving funds to USA. The OECD countries ran out of money.

They are increasing pressure and fear on successful businessman and rich people to collect as much money as possible. The reality looks much different. Believe me. The AEI will work if every country is participating. We have 209 different countries with different culture on this planet. It will be a mission impossible to adequate all countries to the same standard. We are far away from combating tax evasion effectively. If you have a question or a problem with your swiss bank account, pick up the phone, dial the number on the caption below and speak with me. Let’s discuss your case and find a tailor-made solution for you. Be rich and remain rich. Have a beautiful day.