Reply #13: Moving the cash [View All]

[Jose Diablo]

I am not sure if it's illegal to just buy gold and carry it there in a briefcase. I doubt you'd have to declare it in Europe, but if it's more than $10,000 you have to claim it when you exit here. I don't think it costs anything to just haul it out. Never had to do this. I wouldn't try smuggling by air today. And by ship, I don't know, maybe. I've never had a problem going into Europe, but I never had to claim anything. I doubt, Switzerland requires claiming any money or gold, thats what they do. Hold the cash for everyone.

You might want to check out Bermuda as for a way to move money.

Here is a way I thought was interesting. Sometimes international corporations, chartered in Bermuda for example, will set-up whats called a cash/lock box with certain international banks. If a check is mailed to the cash box, that check is cashed and deposited into the international account. The money is moved wherever you want it deposited, say Switzerland. I don't know the fees and again there would be conversion fees to go from whatever currency to whatever.

Check out a cash or lock box they call them with an international bank. They can probably give you the details.

It's not illegal to move your money, after all, it is your property.

Edit:You know you can get a credit card based on an account in the Bahama's. Use it right here too. They are taken by merchants just like Visa/Mastercard. In fact that's what they are. Work at ATM's also and can be used overseas. It's never been easier to move from country to country with money. I've used Visa internationally in Sweden, Germany and India. Of course there are fees, but it was better than carrying cash.