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Tax Engineering

How to open Sunny account? Is it legal?


Question

What is a Gürtel scandal? How to open Sunny account and take advantage of it? Is it legal?

Answer

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We have all witnessed the investigation of a Gürtel scandal that involved several Spanish public individuals who kept their money in one of the swiss banks without declaring the income. One of the beneficiaries of this detected “Sunny account” (received its name after the warm and sunny climate typical for Spain, a country of residence of all the participants) was a former king, Juan Carlos. 

In general, Sunny accounts are required by individuals with big fortunes and managed by a third party, with extensive experience in finance and banking, outside the tax residence of the final beneficiary. Since the bank account is opened on the name of a third party, it is extremely difficult to figure out the identity of a final beneficiary of the funds. 

Many of you can ask: how can a beneficial owner protect himself after he opened an account on a name of another person? Theoretically the account holder has a full access to the funds collected on the account. However, such countries as Switzerland and Liechtenstein have very strict laws designed to protect the interests of the depositors. A Sunny account manager, in case he decides to steal money from his client´s account, faces jail sentences between 20-25 years and the seizure of all his assets to recover the stolen value. 

What operations can the administrator of a Sunny account perform?

The manager of the Sunny account strictly follows the instructions of the beneficiary owner of the account. Generally, the operations that can be performed are the following: 

  • Worldwide wire transfers.
  • Accept incoming transfers from any country in the world.
  • Request credit and debit cards in the name of the account holder.
  • Apply for credits and mortgages.
  • Invest in gold and international exchanges.

Is it legal?

Opening a Sunny account is 100% legal as long as the beneficial owner declares the deposited amounts in his country of residence and proves that the generated funds don´t come from illegal activities or activities related to money laundering. The account administrators conduct a thorough investigation and analyze the risks of the deposit. Only after that he decides whether or not to open the account on his behalf. The administrator of the Sunny account has to know very well his client and his background since in case of irregulated activity he will be considered as a cooperation party and obliged to comply with his legal responsibility. 

Advantages of the Sunny account

The main advantages of opening and holding a Sunny account are the following: 

  • Bank account with tax exemption.
  • The bank account number is only known to the final beneficiary and will not appear in any operation performed by the administrator.
  • Sunny account managers are very well informed about financial markets and possibilities for investments with minimal risks.
  • 100% legal
  • With the agreement of the Administrator who manages your account, you can request credits or mortgages without reveling your identity.  

Disadvantages of the Sunny account

The disadvantages of having a Sunny bank account are the following: 

  • High maintenance and operation fees: The administrator will charge a commission for each operation performed on his client.
  • Minimum risk of investments without return.

If you are a holder of a big fortune and want a professional to carry out your banking operations outside of your country of residence, stop searching and request a Sunny account as soon as possible. 



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