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Offshore Banking for my 2555 Tax Home in Dominican Republic

I live outside the USA more than 330 days per year, therefore the USA government allows me to earn up to 91,500 Dollars and not pay taxes. I have to file form 2555, which is all done by my accountant, and make life less stressful.

I am not sure why, but they will allow me until June 15 to file and pay my taxes, which really means Social Security money or something.

Sosua, Dominican Republic - Caribbean
by Andy Graham (Gadget) of | Gadget Profile


Offshore Banking
Now, for the last five or six years my tax home has been in the Philippines. However, I leave all my money in a USA bank, which right now is about a big zero. However, a few days ago, I was talking to Ana and she said I could open a bank account here in the Dominican Republic without a problem.

I tried to open a bank account in the Philippines and they were nuts, they wanted me to kiss them too many times. This is scary; maybe they will seize my bank account for a non-reporting problem.

Hmm, does work? is a cheap way to make a bank to bank transfer cheaply, it is how I pay my offshore worker Boy Genius in India. Jane in the Philippines and I must Western Union to Nepal for CSS work.

Yes, would allow me to transfer money directly from my USA account to the Dominican Republic offshore bank.

I am debating on my 2555 tax home, I may move it to the Dominican Republic, not that this place is good. I would rather go to the Philippines, but this place is 10 times more convenient to the USA than Manila.

I want to take advantage of this offshore banking opportunity. I have thought about putting my two dedicated hosting servers offshore for years, I have no desire to cheat on taxes. I just do not like the never-ending paperwork. My accountant said the paperwork would be too much, but I would still like to have a bank account in a few countries to keep the government out of my pants pockets.

Well, this 2555 form is a windfall for me; I paid about 20,000 dollars in taxes two years before Chris pointed it out to me, and thank you Chris, I owe you.

I could earn money from my website, it would go into my USA account, and then the money would be transferred to DR by I think this offshore banking strategy would work, but I will have to go the bank soon and try to open an account.

If it no fun having a bank account in any country where there are thousands of rules, this sounds like I would just walk into the bank here in the DR, and open an account; all I would need is a passport.

I like to talk to my NEW accountant about this, I do not like to talk to other Expats, they all just want to cheat and take all sorts of stupid risk.

I am quite sure they are some men here in Sosua offshore banking their money, or maybe offshore investing their money by giving it directly the DR girls.

Offshore Banking for my 2555 Tax Home in Dominican Republic