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- enacted in late December 2009, heavily includes the best provisions found in other foundation jurisdictions such as Liechtenstein and Panama, but includes its own unique features like more clarity on legal issues, stronger asset protection and more flexibility.
The Seychelles Private Interest Foundation (PIF) can be considered the latest way to protect your assets and plan your taxes. It is a highly attractive foundation for people whose major focus is on tax minimization and asset protection.
A Seychelles Foundation is a separate legal entity (like a company), but with beneficiaries instead of shareholders (similar to a trust). The foundation essentially functions like a company but acts like a trust. When the founder endows assets to the foundation, they are no longer the property of the founder. Instead, they become the property of the foundation with full beneficial and legal title. The beneficiaries of the foundation also have...
Regardless of your reasoning, having an offshore bank account can provide a myriad of benefits. However, a major challenge that you may have is in finding offshore bank accounts that can be trusted sources to hold your wealth until you need it. Finding the right place can make the difference between getting your funds back when requested and having things like severe fines, penalties, and even a loss of the funds. Let us take a moment to list a few locations where to open an offshore bank account. Listed for their safety and security as well as tract record for providing superior service, these suggestions are all good places to investigate.
Looking For the Right Set Of Things
If you are looking for a place to invest American capital, then you have several different options. However, those options will be limited by a series of factors that you have to consider. First, be aware that there are many...
By the time people reach their forties, they have usually amassed a few valuable assets like a house. With your growing financial portfolio and assets, it is important that you take steps to protect them. In this depressed economy, every asset you have and every dollar you earn is at risk. Creditors and litigators have become like vultures circling any successful person with unprotected assets. The only way to protect your hard-earned valuables is by setting up an appropriate asset protection plan.
The most important thing you need to keep in mind is that you have to start planning in advance. Only a few things you do after a liability or claim arises can diffuse the situation. In fact, most things you do afterwards could be considered a ‘fraudulent conveyance’, and a court can make you unwind the transaction and give your assets to the creditors. As a general rule, there is nothing you can do once a creditor situation arises....
What do you do when the banking system in your native country is flawed? Or when the financial institutions in your home land cannot give you certain guarantees about the future of your money? Or if the government agencies in place are corrupt unstable organizations ready to go on a witch hunt at a whim?
In all of such cases the answer to the problem lies with an offshore banking business.
What is an offshore bank?
An offshore bank is simply a bank that is focused towards accepting deposits only from foreign individuals and businesses. A good example of this is the countless banks in Bahamas, Belize, Panama, Cayman Islands, Mauritius and Switzerland that offer a great many financial advantages to the people and entities that choose to bank with them.
Very often the banks involved in the offshore banking business deal in multiple currencies that are not the currency of the location from which they...
Honk Kong bank of Canada, which is now known as the HSBC Bank Canada, is one of the biggest banking institutions in the world, with presence in 85 different countries and 7200 offices in Asia, Europe, Middle East, Africa and the Americas. The bank, which was founded by a Scot for operations in the coastal areas of Hong Kong and China, is now a global leader in all matters of finance and banking, providing an impressive range of financial services to institutions, individuals as well as businesses.
At current estimates, HSBC is serving more than 85 million individual customers and about 3.6 million commercial customers. As of 2012 the total assets of the bank were valued at over $2,500 billion.
Honk Kong Bank of Canada
The Hong Kong Bank of Canada was HSBC first foray into Canada in 1981, when they established a wholly owned subsidiary to operate in the Pacific Rim, running their head office out of...
Breaking down how offshore bank accounts actually work
More and more people are getting interested in the idea of leveraging offshore banks and offshore bank accounts these days, and it’s easy to see why.
After all, following the economic collapse of the mid-2000s that the global community is still trying to dig out of almost 10 years later things aren’t exactly sunshine and roses when it comes to the financial stability of traditional banking options.
Combine that with horror stories on the news about governments (including the United States) seizing assets from her citizens and then charging the assets with crimes so that they can take money without any recourse – and that’s just the tip of the iceberg – and you’ll begin to see exactly why so many people are eager to set up their own offshore bank account if at all possible.
The only problem is that most people aren’t familiar with how offshore bank...
It is a proven fact that US citizens on the whole have a lot less money in offshore bank accounts as compared to citizens of many other countries in the world. For American corporation that are multinational, it is still rather easy to a bunch of offshore banking options, but for an individual it is still an uphill task, owing mostly to the tight grip of big brother IRS and the strict regulation that they have put in place and the implementation of the new Foreign Account Tax Compliance Act is just going to make things worse.
Even foreign banks are forced to sing to IRS’ tunes with virtually every bank on the planet being forced to sign some fort of an information sharing agreement with the government agency. Failing to do so often results in severe taxation in funds that are sourced and generated through the US.
The problem is so severe that many foreign offshore banking institutions have simply stopped taking applications from US...
As more and more people feel the need to have an offshore bank account, the more our governments feel the need to tighten the noose and prevent their citizens from financial security. Many governments like the US government actively look to crucify or tie up with foreign banking institutions to impose regulations and terms that are largely unfair and prevent American citizens from diversifying their risk of investment and safeguard their money.
Hong Kong banks however have not fallen prey to such tactics and as a result remain some of the best banks in the world to open a bank account. For long now, Hong Kong banks have been the center of attraction for people who desire a greate3r amount of control on their money and financial freedom.
Why Hong Kong?
Hong Kong has made itself a lucrative destination for the money of the rich and the famous coz of its iron clad banking system that tolerates no nonsense....
Bahamas still remains one of the most popular places for business owners and individuals to open an offshore bank account and when it comes to the tropical paradise, Bank of The Bahamas rules the roost. The bank that has been in existence since 1988, has longed formed a reputation for being at the forefront of the Bahamian banking scene, providing customers with impeccable, quality service while maintaining stern privacy standards.
The beginning of Bank of The Bahamas
Bank of The Bahamas had its humble beginning when the government of Bahamas tied up with the euro Canadian Bank Limited to start a new bank whose intention was to operate solely out of Bahamas, run for the Bahamian by the Bahamian. This is why; even today Bank of the Bahamas is managed completely by a 100% Bahamian executive team. Even the board of directors is made up of Bahamian business personalities who have excelled in their respective...
is not very known by the public, but can have a huge impact if you are doing business with China, India Russia and the most of the Baltic countries, regardless if you are selling or buying to those countries the profit impact a Seychelles CSL Company can have is enormous.
Actually it is very easy and fast to incorporate a Seychelles CSL Company, what one will need is not only the CSL but also to have a intermediate holding company situated within the EU, Cyprus is used to be the place of incorporation for such an intermediate holding company because of the double taxation agreement Cyprus has with the Seychelles and the normally low corporate tax of only 10%, in this case mentioned where the Cyprus company will act as intermediate for the Seychelles company the Cyprus company will be exempted from any tax (0% tax) which increase the net profits of the beneficial owners / shareholders.
Key features / Can do business as / undertake the business of:
- Access to double...
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