offshore banking
04-11-2006, 09:55 PM
#11
Administrator
Thread Starter
Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
Originally Posted by Rob x-7' post='813364' date='Apr 11 2006, 10:31 PM
you cant just go there with $60000 in cashiers checks or something like that?
or mail a check a month to the other bank?
Not exactly, and i can transfer the money to the other bank, but every month i will get a check for 1,000 fro my cr bank, then i will have to deposit it in the cr bank and transfer it to the us bank.... if i want it in the us bank.
04-11-2006, 09:59 PM
#13
Administrator
Thread Starter
Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
now you know why i am frustrated.
Yea transferring money between the us and any other country is a major ordeal if it's over 10,000.
I have to get a letter from my bank here stating that the money didnt come from selling drugs to buy the house down there, not a requirement of the costa rican gov't, but a requirement of the us, they will hold up ANY wire transfer over 10k.
Yea transferring money between the us and any other country is a major ordeal if it's over 10,000.
I have to get a letter from my bank here stating that the money didnt come from selling drugs to buy the house down there, not a requirement of the costa rican gov't, but a requirement of the us, they will hold up ANY wire transfer over 10k.
04-11-2006, 10:28 PM
#16
Administrator
Thread Starter
Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
and for the record, you can't get any amount over 10,000 out of a us bank and deposit it elsewhere. even the cayman islands won't accept a cash deposit over 10,000. Basically yer money only leaves the us at the gov't discression, also if you make multiple transfers of say $9500 they will freeze your accounts entirely.
04-11-2006, 10:50 PM
#18
Senior Member
Join Date: Jul 2001
Location: Tulsa, OK
Posts: 3,346
Originally Posted by Rob x-7' post='813384' date='Apr 11 2006, 07:44 PM
I keep thinking of the movie BLOW, when he goes to the bank to get his money and its gone
Haha, I was thinking the same thing. All this sounds confusing to me. 1,000 over the next 5 years out of 60,000 from a cr bank to a US bank then back, and then pass go collect 200.
04-11-2006, 10:50 PM
#19
Administrator
Thread Starter
Join Date: Jul 2001
Location: Stuart, FL
Posts: 24,416
Originally Posted by Rob x-7' post='813384' date='Apr 11 2006, 11:44 PM
I keep thinking of the movie BLOW, when he goes to the bank to get his money and its gone
yea that can easily happen in countries with unstable gov't,, it STILL happens today.
State/Fed Costa Rican Banks are insured and very well backed, non gov't banks there are not and if they dry up yer fucked, even the citibank there is in no way insured.
04-11-2006, 10:53 PM
#20
Senior Member
Join Date: May 2002
Location: California
Posts: 22,465
Originally Posted by phinsup' post='813371' date='Apr 11 2006, 07:59 PM
now you know why i am frustrated.
Yea transferring money between the us and any other country is a major ordeal if it's over 10,000.
I have to get a letter from my bank here stating that the money didnt come from selling drugs to buy the house down there, not a requirement of the costa rican gov't, but a requirement of the us, they will hold up ANY wire transfer over 10k.
can you wire it in chunks? like soup?
so lemme see if i got this right, in order to be a resident of costa rica, you have to have 60k in a bank, and get $1000 a month there.
and of course the us bank wont do this cause it looks like you'd be using the money to buy bannanas or monkeys or somesuch illegal things.
i also assume that you dont really care about us taxes, except that the irs has the us bank scared because of the nanners
and the costa rican bank doesnt want you cause you're not a resident (filthy gringo)
from what i recall of the offshore banking thing, is you have to get a representative to setup an account, or help setup an account, and then the irs knows what to look for and will find it. basically you have to go there and hire someone so help you setup the account, it looked like a pain in the ***, and you have to trust a bunch or potentially shady charachters in white suits with big moustaches