Planning on Hiding Behind Banking Secrecy?

Golden Dragon - China Investment and banking secrecyThings have changed that make citizens of the People’s Republic of China (PRC), and all “high net worth individuals” (HNWI) a target now.

Hiding assets PRC style (off the grid) and pretending someone else called ”Aunty”, a business, trust or nominee account owns them puts you at criminal risk needlessly.

ORSO402(b) legal non-disclosure programming has regulatory recognition in Hong Kong, in the Peoples Republic of China and anywhere else you can think of is AEOI tax rules compliant and excluded foreign financial account. Only this one type of financial account is compliant and functional with monetary control and exempt from exchange of financial information reporting.

This is like having your own vault which holds your assets and investments where it is Hong Kong Government regulated, registered and recognized free from tax and reporting in the Peoples Republic of China. This means that this is a place where you are not going to have trouble with the local government in the PRC because it is legally recognized tax compliance.

[box type=”tick”]An outbound investment through-train from Shanghai to Hong Kong – 100% “On the Grid”.[/box]

This Foreign Retirement Plan ORSO 402(b) has a legal through train from Shanghai to Hong Kong for money to be invested similar to a foreign investment company. This legal through train, established quite recently, facilitates outbound investments as a legal matter. There is no magic in this; it is a very straight forward and a recognized PRC and Hong Kong legal process.

Where money is invested or how it is invested is not a tax or exchange control issue it is a matter for your own good judgement and control Old financial strategies for hiding offshore no longer work:

  • International regulatory exchange of information agreements directly target ”hiding behind” foreign financial account entities
  • Trusts, Foundations, IBC, LLC and Life Insurance Policies are now a red flag pointing at you
  • The PRC. USA, O.E.C.D and 13 other countries seek out and share financial account reporting
  • The International Monetary Fund and the World Bank seek out illicit transfer of money abroad
  • The intermediaries dealing in entities abroad are themselves committing criminal offense

[box]The ONE safe method is transparency that retains non-disclosure, secret and private benefits.[/box]

Get the free white paper – PRC Expert’s Guide to Overseas Asset Protection


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