Now many (questionable organizations are offering corporations and bank accounts in many different adminstrations with a shopping list of countries available, almost every one of them no longer credible, many being situated on Caribbean islands and are beguiling the customers into believing they are credible offshore authorities with privacy advantages. It’s incorrect!!!
Let’s examine
Bank Privacy - Without this we are not interested. We wish the bank to not be able to divulge any information regarding the bank account among other things whether or not such a bank account even exists, unless the legal courts of the country where the bank is situated issue an order.. More secrecy than this does not exist any place nowadays. Numbered accounts, as well as Sparbuch accounts in Austria are no longer existent. Yes, I know people offer them for sale on internet sites but they are all history and closed down. The bank concealment policies must be scripted into the law of the land in question. Belize has no such bank secrecy laws written in their laws, people just appear to rely them although there would be no legal penalization for them to divulge bank data if they see fit to do so. We need bank secrecy laws to call for imprisonment and civil punishments for any violations in addition to let for one to file a suit against the bank for violations. Panama is competent of doing so.
MLAT - Mutual Legal Assistance treaty. Numerous nations have entered into these arrangements. To checkfor the list of countries that have inscribed into these agreements with the USA courtesy of the US Government click here: http://travel.state.gov/law/info/judicial/judicial_690.html
It is interesting to recognize that many states have participated into these arrangements. Even Panama is in such an understanding but it is somewhat moderate in range.
