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Keeping personal accounts anonymous

How to keep personal accounts anonymous

2021-01-06
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The issue of keeping personal accounts anonymous is relevant in 2021. The major innovations regarding the exchange of tax information between countries has led many states to revise their own legislation in order to get out of the "black list". The introduction of automatic exchange of tax information significantly undermines the anonymity of opening a personal account.

Protecting the rights to anonymity

Opening an anonymous personal account in 2021 is problematic because many banks disclose information about their customers, the automatic exchange of tax information between countries operates.

However, the right to privacy is one of the main ones. At the international level, a number of provisions have been introduced regarding anonymity rights. It is possible to send messages confidentially, to use cryptocurrencies and make payments anonymously, to do posting, to create works of authorship without publishing personal information.

Contact our specialists at IT-OFFSHORE if you need to open an anonymous account. Classic offshore accounts are known for their high level of privacy, penalties for data disclosure. This is the main reason why many businessmen place their capital in offshore countries.

However, information can be disclosed in cases where the event takes priority over bank secrecy. Data is disclosed if there are criminal activities concerning illegal proceeds or financing of banned organizations, etc. Confidential information may be disclosed when serious violations are prevented, when evidence of a violation of the law is found.

Where to open an account?

Offshore zones are considered the most relevant for opening an account in terms of anonymity. Several of the most popular jurisdictions can be identified:

  • BVI - there are fines or imprisonment for disclosure or leakage. Corporate document data of registered businesses is protected.
  • Cayman Islands - there are special rules which ensure banking secrecy and anonymity of trusts. The data may be disclosed only as part of an investigation into offenses.
  • Nevis - imprisonment is presumed in case of leakage of confidential data. As such, the territory is of interest to persons planning to establish trusts or protect assets.
  • Belize - the territory has a quality judicial system and strict provisions regarding confidentiality.

When choosing a bank to open an account and the country where to open a deposit, it is important to consider the provisions of confidentiality and bank secrecy. These provisions can be used only when conducting legitimate business.

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