Does anyone have any current experience of this company, which in the past has offered off-shore trust arrangements to consultants working in Germany. The main man seems to be Michael Marks. The scheme involved payments fully declared to the German taxman and other payments held in the trust, accessible either as loans or held until a later date when the balance could be extracted. The idea is to move from Germany to another more favourable tax location before extracting the balance of the trust fund. Should I consider this arrangement?
PSB was suggested to me a few years back by 2 different agencies in Germany, but I never made the move.
I am now considering a contract in Germany, without an agent, but have not managed to find much information on PSB, with the exception that Michael Marks suggest them.
Does anyone have any experience of working through PSB or any other management firms in Germany?
How legal is the whole configuration?
What gaurantees are there that the trust money becomes yours?
IME all of the overseas management companies that offer reasonable returns operate in the way that you have suggested.
Sadly, ITS seems to be the least dodgy (that's not a negative comment about ITS BTW).
And wrt Germany, I have been told that the Finanzamp have recently had a round up of people operating through dodgy schemes and assessed them for tax on the gross billings, though I have no idea of the details.
IME all of the overseas management companies that offer reasonable returns operate in the way that you have suggested.
Sadly, ITS seems to be the least dodgy (that's not a negative comment about ITS BTW).
And wrt Germany, I have been told that the Finanzamp have recently had a round up of people operating through dodgy schemes and assessed them for tax on the gross billings, though I have no idea of the details.
tim
I've also heard something about this Finanzamp disclosure.
I'm really interested in this matter, so if you guys know anything pls share your knowledge here.
Do you exactly know what consequences are for us, for overseas consultants in such an event? Might we end up in jail for instance?
Project Service Beta/International Tax Solutions
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Swift was a poet known for subtlety, I believe a rapier is a type of sword. The actual quote comes from Red Dwarf 
Perhaps it should be a "sticky".
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