Offshore banking questions

[Fallen Sputnik]

hey guys, this discussion is meant to be for 18+ year olds, or who have personal experience with this only.

I was looking into opening an offshore checking/savings accounts...
I am currently located in NY, but will moving to FL this summer.


Without going too much into income details, I have managed to earn a fair amount of money through my numerous businesses (musician, film producer, clothing co owner)....
A lot of my business is done through internet, except for my music career (although revenue comes through that as well).
Currently I have a key bank checking account, and a paypal business account, which all my cash based assets are currently located in.

I have some questions:

1.Is it worth opening it?...and use it as a tax/income net in a way?
2.Could i face legal persecution for having one, being a duel citizen of USA and Russia.
3.How easy can I use my assets that are located in them (if opened)...such as withdraws, deposits, transfers, etc...
4.And what would be best location to open it? (I've considered the caymans and swiss banks)


Thanks a lot for the help guys .
Happy tax season to all haha.

[AndyMc]

1. U.S. Government is broke... the IRS is more active than ever in finding 'Overseas' money that is due to the government.
Remember UBS had to give up a bunch of their clients a few years ago.

2. For opening an account. Probably not. For using that account to hide money. Most likely.

3. Pretty easy to use. Just like another bank. Though if you wanted to do more than just withdraw from an ATM, you would have to go to that location.. which isn't as easy as going to your local ATM machine.

4. Swiss, BVA (British Virgin Islands) all are the same. But user beware...
After 9/11 its not so easy and smart to 'hide money' anymore.