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OECD Tax Treaties--Ecuador Not Signing

by Gisela Martinez

Recent Tax Information Exchange Agreements

* Andorra - Austria, France, Liechtenstein, Monaco, San Marino
* Anguilla - Denmark, Ireland, Netherlands,United Kingdom
* Antigua and Barbuda - Australia, Denmark, Netherlands, United States
* Aruba - British Virgin Islands, Denmark, Faroe Islands, Finland, Greenland, Iceland, Netherlands Antilles, Norway, Spain, St. Kitt and Nevis, St. Vincent and the Grenadines, Sweden, United States
* Australia - Antigua and Barbuda, Bermuda, British Virgin Islands, Gibraltar, Isle of Man, Jersey, Netherlands Antilles
* Austria - Andorra, Gibraltar, Monaco, St. Vincent and the Grenadines
* Bahamas - Monaco, San Marino,United States
* Bermuda - Australia, Denmark, Faroe Islands, Finland, Germany, Greenland, Iceland, Ireland, Netherlands, Nethrlands Antilles, New Zealand, Norway, Sweden, United Kingdom
* British Virgin Islands - Aruba, Australia, Denmark, Faroe Islands, Finland, France, Greenland, Netherlands Antilles, New Zealand, Norway, Iceland, Netherland Sweden, United Kingdom, United States
* Canada - Netherlands Antilles
* Cayman Islands - Denmark , Faroe Islands , Finland , Greenland, Iceland, Ireland, Netherlands, New Zealand, Norway , Sweden, United States
* Cook Islands - New Zealand
* Denmark - Anguilla, Antigua and Barbuda, Aruba, Bermuda, British Virgin Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Netherlands Antilles, St. Kitts and Nevis, St. Vincent and the Grenadines, Turks and Caicos , Cayman Islands
* Faroe Islands - Aruba, Bermuda, British Virgin Islands, Isle of Man, Netherlands Antilles, San Marino, Cayman Islands
* Finland - Aruba, Bermuda, BritisVirgin Islands, Guernsey, Isle of Man, Jersey, Netherlands Antilles, Cayman Islands
* France - Andorra, British Virgin Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Liechtenstein, San Marino, Turks and Caicos
* Germany - Bermuda, Gibraltar, Guernsey, Isle of Man, Jersey, Liechtenstein
* Gibraltar - Australia, Austria, Denmark, France, Germany, Ireland, New Zealand, United Kingdom, United States
* Greenland - Aruba, Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Isle of Man, Jersey, Netherlands Antilles, San Marino
* Guernsey - Denmark, Finland, France , Germany, Greenland, Iceland, Ireland, New Zealand, Norway, Sweden, The Faroe Islands, The Netherlands, United Kingdom, United States
* Iceland - Aruba, Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Isle of Man, Jersey, Netherlands Antilles
* Ireland - Anguilla, Bermuda, Cayman Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Turks and Caicos
* Isle of Man - Australia, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Iceland, Ireland, New Zealand, Norway, Sweden, The Netherlands, United Kingdom, United States
* Jersey - Australia, Denmark, Finland, France, Germany, Greenland, Iceland, Ireland , New Zealand, Norway, Sweden, The Faroe Islands, TheNetherlands, United Kingdom, United States
* Liechtenstein - Andorra, France, Germany, Monaco, St. Vincent and the Grenadines, United Kingdom, United States
* Mexico- Netherlands Antilles
* Monaco - Andorra, Austria, Bahamas, Belgium, Liechtenstein, Samoa, San Marino, United States
* Netherlands -Anguilla, Antigua and Barbuda, Bermuda, British Virgin Islands, Cayman Islands Guernsey, Isle of Man, Jersey, Samoa, St Kitts and Nevis, St. Vincent and the Grenadines, Turks and Caicos
* Netherlands - Antilles Aruba, Australia, British Virgin Islands, Bermuda, Canada, Denmark, Faroe Islands, Finland, Greenland, Iceland, Mexico, New Zealand, Norway, Spain, St. Kitts and Nevis, Sweden, United States
* New Zealand - Bermuda, British Virgin Islands, Cayman Islands, Cook Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Netherlands Antilles
* Norway - Aruba, Bermuda, British Virgin Islands, Guernsey, Isle of Man, Jersey, Netherlands Antilles, Cayman Islands
* Netherlands - Antilles, Cayman Islands
* Samoa - Monaco, Netherlands, San Marino
* San Marino - Andorra, Bahamas,Faroe Islands, France, Greenland, Monaco, Samoa
* Spain - Aruba, Netherlands Antilles
* St. Kitts and Nevis - Aruba, Denmark, Netherlands, Netherlands Antilles
* St. Vincent and the Grenadines - Aruba, Austria, Denmark, Liechtenstein,Netherlands
* Sweden - Aruba, Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Isle of Man, Jersey, Netherlands Antilles
* The Faroe Islands - Guernsey, Jersey
* Turks and Caicos - France, Ireland , Netherlands, United Kingdom, Denmark
* United Kingdom - Anguilla, Bermuda, British Virgin Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Liechtenstein, Turks and Caicos
* United States - Antigua and Barbuda, Aruba, Bahamas, British Virgin Islands, Cayman Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Liechtenstein, Monaco, Netherlands Antilles

You can see Ecuador is conveniently left off of the list. The OECD does not want you to know this. This means Ecuador has no intentions of signing any tax treaties with the high tax police states. Other countries who are not signing are as follows: Russian Federation, Venezuela, Bolivia, Brazil, Cuba, Saudi Arabia, Oman, Abu Dabi, Qatar, Ukraine, Lithuania, Nigeria, North Korea, Iraq, Iran, Suriname. Ghana, Egypt, Jordan, Jamaica, Lebanon, Syria, Libya, North Korea, Yemen, Oman, Afghanistan, Pakistan, Romania, Bulgaria, Uzbekistan, Kazahkstan, Georgia, Azerbaljan, Turkmenistan, Peru, Paraguay, Thailand, Indonesia, Vietnam, and many African under developed nations. One can see that there is some resistance (putting it mildly) to the OECD. Blacklisting all of these countries by the OECD will be hard and probably impossible. The OECD is pushing around and bullying those countries it can force into signing the tax treaties and those that can resist just resist. None of these other countries present any viable banking alternatives but we will go through some of them one by one.

Ecuador - Here we have a winner. Ecuador is a dollarized economy using the USD. They are soon to go to a basket of currencies and move off the USD. They have anonymous bearer share corporations and bank secrecy. The bank we use has online banking. The bank can issue credit cards. The bank can receive wires in Euros and USD. For more information about banking in Ecuador go here:

Ecuador Banking

Russian Federation - They have a lot of bank failures. The country is free to some extent except the government does whatever it wants and you have no recourse. Not a wise choice for banking.

Venezuela - The banks here are not in such great shape. No bank secrecy in that Chavez eliminated it making asset confiscation easier. The country has a very strong President with almost unlimited power. No legal recourse against government actions. Not a wise banking choice.

Bolivia - No more bank secrecy. The country is facing the threat of civil war. Power hungry government leader. Ill advised for banking.

Saudi Arabia- This is a dictatorship. Getting a bank account here would be hard if not impossible unless you are a citizen. Not a serious jurisdiction for other than the Saudi royal family.

Brazil - High taxes on worldwide income. Their currency inflates like crazy. Bank secrecy questionable. Ill advised.

The other countries not signing with the OECD are not serious contenders for banking so we will not address them.

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