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Old 12-18-2005, 10:38 AM
AaronBrown AaronBrown is offline
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Join Date: May 2005
Location: New York
Posts: 505
Default Re: Offshore bank account...

In this circumstance, I don't recommend trying to get an offshore account. The problem is that the income verification regulations are designed to stop money laundering. While your income comes from poker winnings rather than drug trafficking, extortion or supplying explosives to terrorists; from the government's point of view, any undocumentable income is suspect. My guess is any documentation you supply will look suspicious, and will get you investigated. Although the investigation will not turn up anything illegal, the penalties for the bank (and for government employees as well) for being wrong are so large, that you'll probably be turned down anyway.

The offshore banking havens were designed for people like you (only richer ones). The idea is you just set up the account and don't tell the UK regulators. That's usually illegal, or at least dubious, but some people don't care. The idea of an offshore account through a UK-regulated institution seems contradictory.
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