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Listened to a podcast about this subject recently (in German though: [0]). What eg. a German (very!) rich person would do is get a second passport in Cyprus an
by rethab 6y ago
Listened to a podcast about this subject recently (in German though: [0]).
What eg. a German (very!) rich person would do is get a second passport in Cyprus and then open a Swiss bank account. To the Swiss bank, they'd say that they only have that one passport from Cyprus. Therefore, the Swiss bank does not report to the German state that the German individual has a bank account. This is how that person avoids German tax.
0. https://www.kuechenstud.io/medienradio/podcast/di090-geldwaesche-steueroasen-und-was-staaten-dagegen-tun-christoph-trautvetter-netzwerk-steuergerechtigkeit/ https://www.kuechenstud.io/medienradio/podcast/di090-geldwae...
- enriquto 6y agoThus it would seem that Cyprus citizens would be able to demand high prices for selling their passports, which cannot be a bad thing. Then, Cyprus could enter into an agreement with Germany or Switzerland to share bank data if that becomes a problem.
- cblconfederate 6y agoIsn't the whole point of EU to have a common market? also how does having a large bank account in swiss affects her taxes in germany?
- mike_d 6y agoBut this doesn't apply to the US. After 9/11 international banks have to share account details with the US Government if they want to transact with US banks.
- FDSGSG 6y agoThis is tax fraud, if you're willing to commit crimes it is very easy to avoid taxes.