Hiding your money away from your enemies.

The first thing to realise about a "secret account" sometimes referred to by the euphemism "offshore account" is that in order to be kept secret from your potential enemies (creditors and tax collectors) it must be kept secret from everyone. Generally speaking, a stranger you meet at a bar isn't the person who turns you in to a tax collector or otherwise blows the whistle on you. Besides Big Brother, your potential enemies include your spouse, lover(s), your business associates or partners, your own kids. These days, you must add to the list of potential informants against you, your accountant or lawyer. Your accountant, lawyer, stockbroker or local banker in many jurisdictions, particularly the USA, is personally liable for criminal prosecution if he has knowledge of any concealment of assets, tax frauds etc; if your own hired hands don't turn you in they may be breaking the law.

New regulations make these professionals in your home country little more than government agents. They are like deputy sheriffs. If you don't want sheriff Big Brother to know exactly what you are doing then for heaven's sake don't tell the deputy sheriffs. These professionals are not on your side. Because of laws that will take away their licenses, livlihood and possibly their freedom, they have been coopted. They are now in the enemy camp. As such, accountants and lawyers are the last persons you should trust with sensitive information or from whom to seek advise on "offshore matters". Bottom line? You must now establish your secret offshore accounts or secret asset stashes without telling anyone in your home country, and especially without telling anyone in the above catagories.

The second thing to realize is that in most countries of the first world, where the vast majority of readers live, every citizen is forced to have and use a fiscal identification number. Not using this number or giving a false number is usually an offense in itself. Countries not having such a system are contemplating it. Only recently have Spain and Australia adopted the policy of requiring a fiscal ID number for everyone. In Spain, even tourists who want a telephone, electric service or a local bank account must obtain a fiscal number. In the USA, it's now a major felony crime to use the wrong number by mistake (accidently on purpose), transpose figures or otherwise attempt to defeat the system. In case you had any doubt, there is no such thing as financial privacy in most of our own countries any more. The unique number assigned to you alone enables the goverment or a creditor to identify and seize any asset in the jurisdiction belonging to you, even if it is deposited in a varient of your name. In the UK, we do not have a system like this, but what is in the pipe line?

If you want any protection at all against arbitary seizure, any "secret" account must be in a foreign country where you neither live, do business, have a home, nor have any other connection, property or business interests, aside from the account itself. This assures that the government in the country where your bank account or other assets are deposited has no tax or other claims against you.

Your address, as known to the foreign bank should not be your home address, but rather a mail drop in a third country. This third country is preferably a banking and tax haven unlikely ever to have any information-exchanging treaty or mutual assistance on collections treaty with the country where you bank or where you live. There is always the possibility that a foreign country with no prior tradition of cooperating with the enemy will adopt a new policy. If you have the insulation of three countries you are safer: A) Passport country. B) Maildrop country of presumed residence C) Banking country. All these plus a new name give plenty of insulation.

Your new account must not be established with funds transferred directly from any bank or source in your home country that is traceable to you. In other words, if you want something to be a secret, don't leave a paper trail. Above all, your new account, if it is to be a secret, should be known only to yourself and your new banker. You must not ever keep paperwork, statements, nor even the name and address or telephone number of your secret offshore bank written down or on your person. How do you remember it? The information must be in a code that is not obvious and easily broken. Mirror writing, or writing backwards is so obvious even a child could decode it. Information should definately not be kept in a safety deposit box in your home country. Such boxes can be easily opened by a creditor or tax collector without your authorization. A box in a foreign country, especially if it is kept in a different name is secure, if you don't identify it for your potential enemies

Your new account itself, for extra safety, should not be in your own name. Your new bankers should not know your real country of origin (birth), citizenship, residence, nor anything about you to enable them to link you with your true identity and citizenship. One possibility for buffering or insulation, is to use a "banking passport" or other alternate identity documents in order to be able to establish and access funds in a totally unrelated name. Another possibility (less good if the entity is linked to you), is to use a corporation, trust, holding company or foundation to screen your identity. Perhapes the most secure is a combination of both. If a bank account is held in the name of the XYZ Foundation, and the signer is Joe Doaks (not you), you have created a three tier impenetrable situation for creditors or tax collectors. Needless to say, all is lost if you open your big mouth and tell a potential informant (like your business partner, wife, or best friend) about your clever method of concealing your assets.