Investment questions

HeyJoe · #1 09-09-2005, 09:59 AM

I have some money that I do not want to transfer to my bank account because the tax situation is still unclear (I live in a country where taxes are way, way higher than in the US, so please spare the flames). So far I have used my Neteller Debit card to make withdrawals but the roll has grown considerably so now I am thinking about how to invest wisely. Any advice?

Transfer to an offshore account, trade stocks from there? Do I risk that my country’s IRS can informed about my bank account/stocks holdings?

Simply invest in non-registered values such as paintings etc.? What’s a good idea to invest in? Gold/Diamonds and put it in a safe deposit?

Warren Whitmore · #2 09-09-2005, 10:15 AM

Flying below the radar gennerally means taking a lower percentage rate. About the only thing you will be able to break 10% anual return without attracting attention is investing in rental property in a vacation area where the rents are collected weekly.

Sniper · #3 09-09-2005, 02:42 PM

It would help to know what country we are talking about?

If the worst case scenario is a bullet to the head when your actions are discovered, well you have to evaluate your risks [img]/images/graemlins/wink.gif[/img]

squiffy · #4 09-09-2005, 09:45 PM

Historically gold is a relatively poor long term investment because it is expensive to store, transport, and insure. If you put it in a safe deposit box it doesn't earn interest.

If you get your timing just right and expect a weak dollar or high inflation worldwide, then gold mining companies might be a good buy.

I don't understand much about Diamonds. But the supply/demand situation seems to be a bit harder to predict than other commodities or minerals. Perhaps because so few suppliers. And I would presume elastic highly variable demand.

StickyWicket · #5 09-10-2005, 03:06 PM

You're basically asking for advice on how to evade taxes.

IMHO, not the best post for such a public forum.

Perhaps you can consult a trustworthy tax advisor- the equivalent of a CPA here in the States- and get some advice on legal investment vehicles in your country that have favorable tax status. Only someone who knows your financial situation can make the best recommendation, and I think you should look to your motherland for legal, tax-favorable alternatives.

Sticky [img]/images/graemlins/heart.gif[/img]