I have been contacted by a representative from international broker and are considering swapping some money from a flat-lining managed fund into an account.
One of the pro's he is using is that once the account is set up the money is held in a Honk Kong bank that I can access my 'tax free' profits at will. Obviously this sounds great but does it work like this in reality? Surely the ATO has mechanisms in place to regulate this?
Does anyone have some experience in this at all?