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Singapore - Underlying its continued commitment to providing innovative solutions to clients, Citi's Global Transaction Services (GTS) business has opened the Citi Innovation Lab in Singapore that comprises a Client Experience Center and a Client Collaboration Center. The opening marks the first such Innovation Lab for the bank's institutional clients in Asia Pacific.

The Innovation Lab uses new web, mobile, supply chain and analytics technologies to engage Citi's institutional clients more innovatively and to create the most effective solutions and products for them. In the Innovation Lab, Citi demonstrates its latest transaction banking solutions and clients can "test drive" them through live demonstrations with situation analysis and discussions with GTS' product experts.

"Innovation has always been a driving force for our growth, and the challenge is to continually innovate and invest in new technologies and new capabilities to maintain our market leadership. This Innovation Lab will be an important contributor to our future growth in Global Transaction Services," said Anthony Nappi, Region Head, Asia Pacific, Global Transaction Services.

The Innovation Lab is fully interactive and globally-linked, allowing Citi to connect with clients, global colleagues and experts for discussions on future needs and collaboration with the bank's clients. Solutions that may have taken weeks previously are now being completed in a matter of days or hours.

A recent example of a solution developed was a new mobile collections solution for Coca-Cola that was a 'market first' in India, Korea and China to capture its C2B digital payment flows. The mobile browser-based application allows clients to receive notifications and authorize payments using their mobile phones.

There are currently greater than 10 clients who are collaborating on ideas and testing solutions for various business challenges in the lab, ranging from working capital solutions to intelligent cash forecasting, optimizing investment choices to instant reconciliations.

"In a volatile and ever-changing world, it is important for clients to be able to test various scenarios and the impact they may have on their business. The lab will play an important role in helping our clients navigate uncertain markets. The lab overcomes the challenge of getting clients to visualize new solutions developed for them, a process that used to take weeks and months can now be done in hours," said Anthony Nappi.

The lab is staffed by 12 people, comprising GTS product experts and people from outside the banking industry.

This is the first Innovation Lab that Citi has created in Asia Pacific, with another two in San Francisco and Dublin.

Partners for the new lab include the National University of Singapore (NUS) and the Infocomm Development Authority of Singapore. Citi has a long standing partnership with the NUS such as sponsoring projects for their Design Thinking course and providing innovation training to their staff. In return, academics from NUS have contributed to developing and refining the ideas that the Innovation Lab is working on. Citi has also extended the relationship by providing internship opportunities as well as teaching the fundamentals of transaction banking to some of their students and will soon co-publish some thought-leadership articles in the world of transaction services innovation.

Professor Bernard Yeung, Dean of the National University of Singapore (NUS) Business School says, '"NUS is proud to partner Citi in this business innovation, providing our academic expertise to developing cutting-edge research in transaction services. Our alliance to date has also resulted in various meaningful engagements, such as Citi's sponsorship of projects in our MBA curriculum and provision of internship opportunities to our students. This alliance is the first of its kind between an academic and financial institution and is an affirmation of the School's synergy with the industry. We look forward to a fruitful relationship as we break new ground together."

There are many myths about international banking, and a stigma attached to the phrase 'offshore banking'. Both can conjure stories of illicit financial activities on small islands and neutral, private banking institutions with renegade accounting tactics not condoned by reputable jurisdictions. These misconceptions sometimes arise out of context from extreme legal cases.

Definition: A tax haven is basically a low tax, or no tax, jurisdiction. Traditionally, tax havens have offered confidentiality to account holders and provide little or no information to foreign tax regulators.

Offshore banking is not unlawful. In fact, banking overseas is one of the most commonly used financial services by individual, entrepreneurs, large businesses, and investors. Below are some common myths that abound.

• Offshore banking is legal because it's not tax-free. Many traditional banking jurisdictions do not charge account holders tax on their deposits, but some countries do charge withholding taxes on the income earned from accounts held by foreign individuals and companies. It is also crucial to remember that some countries, such as the US, tax worldwide income. Different jurisdictions will have different requirements in terms of required due diligence but an experienced corporate service provider can guide you through this process. Provided you follow the correct procedures of the jurisdiction in which you are setting up a bank account and meet the legal obligations of your residential jurisdiction, offshore banking can be used for legal tax planning and protection of financial assets.


• Offshore banking is most common in Western economies. The legitimate purpose of offshore banking is not to evade tax. Offshore accounts can enjoy all the benefits of a local bank account such as debit cards, online banking, ease of multi-currency transfers and more. While small jurisdictions can offer attractive rates for foreign investors, some of the most technologically advanced jurisdictions in the world are just as competitive, such as Singapore, Hong Kong, even the U.K. In fact, the US is discussed by some as being amongst the largest tax haven economies in the world, by technical definition.


• You do not need to live in a foreign country or travel abroad to open a foreign bank account. It is not always necessary to travel to the jurisdiction to open an offshore account. This does depend on the offshore banking jurisdiction but working with an experienced corporate service provider can aid in completing the bank account opening process with minimal inconvenience.


• You don't need millions of dollars to open an international bank account. The multi-currency accounts give flexibility for doing business. They are for corporate purposes, but use is not restricted to mega corporations only. Your account can be opened with just a few thousand dollars. When you decide to start your offshore bank account, you will need to provide due diligence. These requirements can vary according to the jurisdiction but, in general can include company incorporation documents, copy of passport, bank reference letter and address details.

Healy Consultants is a leading corporate services firm that assists entrepreneurs and investors with the processes required to complete offshore company formation, along with a range of other corporate services, such as corporate bank accounts. More information on company incorporation can be found by visiting www.healyconsultants.com.

What is a CD?

A CD (Certificate of Deposit) is a savings account which is characterized by fixed term borrowing, fixed interest rates and a relatively high interest rate. Insured by the FDIC (or NCUA for credit unions), CDs are often the investment choice for savers who are risk averse and like to plan carefully for their futures.

Are CDs really risk-free?

Although it would be misleading to use the term 'risk-free', CDs are comparatively low risk investment options. Institutions under the FDIC insure CDs to the tune of $250,000 per owner/co-owner and sometimes take out private cover as well. Offshore banks normally have even stronger insurance coverage.

How is interest accrued?

It is important to research the features of different options carefully. With plenty of variation between institutions you want to make sure you choose the CD that fits in with your offshore investment plans. Investment terms are usually in increments of three months, six months or one to five years, with longer terms often providing higher interest rates.

Some offshore banks offer higher interest rates to savers who deposit large principals; so-called 'jumbo CDs' might require an initial principal of $100,000 or more.

As with standard savings accounts, interest might be accrued daily, monthly or quarterly. Some CDs allow interest to be withdrawn while many accrue interest as they mature.

Can I withdraw before maturity?

It's not in the bank's interest to encourage early withdrawal and doing so will incur stiff penalty fees. For example, you could expect to pay a penalty of six month's interest for withdrawing early from a five year fixed term CD.
Be aware that even when matured, some institutions automatically roll over funds into a new CD. You may face penalties if you try to withdraw after the window between maturity and re-investment has closed.

What is a 'ladder strategy'?

In order to avoid the opportunity cost of long-term investment, some savers employ a 'ladder strategy'. This involves dividing deposits between CDs within or across institutions, and choosing different terms for each amount. For example, you might share your deposit between a one, two and three year CD. After the one year CD matures, you withdraw the principle and accrued interest of the best CD rates and invest in another three year CD.

T's &C's: what to look out for.

If you are considering investing in a CD, you should look carefully at the T's and C's, in particular:
• Can the bank call in the CD before maturity?
• Is interest paid out or accrued?
• Is interest calculated daily, monthly or per quarter?
• What are the penalties for early withdrawal?
• Is there a delay period for withdrawal?
• When matured, will funds automatically be rolled over into a new CD?

No Such List of Offshore Banks Exists - There is no recognized list of the top offshore banks. What is the criteria one would use for such a list is a good question? Examples of rating criteria would be age, total assets, strength of loan portfolio, management, track record, currency, country of location and licensure, etc.

Country Specific Issues - In different offshore countries requirements for opening a bank vary. In some countries anyone can own a bank like in Anjouan. Owning a bank like this does not mean you are going to be able to conduct international banking activities because the other banks around the world would probably refuse to deal with you. Getting correspondent banks in other countries would be about impossible. You would not be able to operate in the country that issued the license since it would be an offshore only banking license restricting you to banking activities outside of the country. In a word a waste of time and money.

Different countries have different reserve requirements as well. If a country had awful reserve banking requirements the banks could loan out much more than they have on deposit thus creating a large portfolio, which would be misleading. Panama has very tight reserve requirements and the banks tend to adhere to them vigorously in Panama with most banks exceeding the reserve requirements year after year. Thus we have a lack of bank failures in Panama.

If the country has a central bank that creates a watered down money supply this also lends to an over inflated loan portfolio. The method of bank accounting also comes into play. There is no such list or even competing lists so learn to question the source of where mention of such a list came from.

Origin of the List Rumor - This came from the Nigerian scammers. They tell the people who are to receive their multi-million dollar inheritance to get an account in a top ten bank. Nonsense since such a list is lacking.

How to Select a secure Offshore Bank - One good way is to pick a country that has tight controls on the banks and a lack of bank failures, of course bank secrecy must be present along with a lack of tax treaties since tax treaties defeat bank secrecy on a wholesale basis.

A second approach is to only use a bank with a full banking license, not just an offshore banking license. Offshore licenses do not allow the bank to conduct business relationship with any entity corporate or personal in that jurisdiction. It can only do banking with foreign entities. This means the country really isn't watching such a bank very carefully since their own citizens cannot be hurt by such a bank failing.

You can use a bank with the same name used in many banks around the world. The banks in Panama are a separate Panama Banking corporation that just obtains permission to use the same name since it has some affiliation with the chain of banks using the name. The Panama Bank Secrecy still applies and if the executives of the Panama Bank allowed the other banks with the same name around the world to get into the computers and see the Panama accounts they could be fined, go to jail, you could sue them personally and you could sue the bank and the bank has deep pockets and the bank could have problems with their license. The security is that if one of these banks using the same name got into trouble financially in one country the other banks using the same name would jump in and shore it up to protect the name and image around the world. This is the real security since banks outside of the USA and Canada do not offer insurance.

We have such banks in Panama and we open accounts for people there daily. The banks offer English speakers, online banking including the ability to send international wire transfers online, secured Visa cards good online, in-person and in ATM machines around the world, checking or saving accounts, tax free interest, accounts in Euros or US Dollars.

Inquire for further assistance. www.panamalaw.org
Source: Top 10 Offshore Banks

BCN International Bank (Cayman) Ltd leads the Offshore Banking industry with strategic move to iPhone

Setting new standards in enterprise mobility, BCN International Bank today confirmed that it has adopted the iPhone as its Smartphone of choice, one of the first and biggest corporate entities in the offshore banking industry to do so on such a large scale.

The Bank expects to complete the device rollout by August 2011. It currently provides mobile devices to over 3400 employees and this number is expected to grow to around 7,000 by the end of the year. Dispersed across borders and typically on the move, these employees will reap significant benefits from the blended work-life capabilities of the iPhone.

"We're all about moving forward," said Ben Benglo, Group Head of Technology and Operations for BCN International Bank "and we believe that giving people complete mobile access to the systems they need to do their job will dramatically increase productivity and employee satisfaction. Time is a commodity in our business. To remain responsive to our customers, we have to be able to connect to the office wherever we are, at any given time."

The Bank will address the dearth in robust enterprise apps available today with a strategy for developing its own internal apps. In the near future, BCN International Bank staff can look forward to apps that allow them to collaborate online and organise their work on-the-go. The Bank is also testing customer relationship management (CRM) apps that enable staff to better serve customers in real-time. The Bank has already put in place additional authentication measures for its iPhones, so that each device complies with stringent security policies.

Investing for growth

BCN International Bank plans to continually expand its apps portfolio will accelerate the pace of innovation at the Bank.

At the 14th Annual Grand Cayman Peak Awards last month, BCN International Bank won the People's Voice Award for Integrated Mobile Experience, the first offshore bank to win in this category. The winning entry was Huddle, an application that uses real-time messaging to make conferences more interactive and engaging.

The Bank also recently launched an iPhone app that takes a fresh and unique approach to mobile banking. Designed entirely from the mobile customer's perspective, the app marries an uncluttered, user-friendly interface with a robust set of features - a strategy that seems to have worked, with the app registering over 7,000 downloads within a few weeks.

With these investments, BCN International Bank is well positioned to create even more exciting opportunities for its community. "Ultimately, it's about creating a more rewarding and satisfying experience for our staff and customers," said Greg an IT Consultant with. BCN International Bank

BCN International Bank has different Priorities. Introducing a new way of banking that puts priority on what's important to you. Through the perfect blend of exceptional services, unique benefits and expert solutions tailored to help you achieve them.

In the first taxation amnesty, the customers of a handful of British banks who held accounts offshore were targeted, and now HMRC is attempting to clear up the sticky issue of taxation forgotten, avoided or evaded by all others who have the likes of bank or savings accounts offshore.

The bottom line is that it is not illegal to go offshore with your money even if you reside and pay tax onshore in the UK. What is illegal is failing to disclose this money to the taxman. However, the good news is that there will be no offshore bank account fines for the innocent. I.e., those who have genuinely been ill advised or made a mistake will not necessarily be fined by HMRC. Read on to learn more

In an interview with BBC Radio 4, HMRC permanent secretary for tax Dave Hartnett advised that there will be cases where innocent and genuine mistakes have been made by a taxpayer, and where exceptional circumstances will come in to play and in such situations, where people are innocent of deliberately avoiding tax, there will be no fines demanded.

So, if you have an offshore bank account and have failed to make known to the taxman that you have earnings from that account for example, is it because of a genuine error on your part? If so, ensure that you come 100% clean to the Treasury and explain the mitigating circumstances surrounding your tax calculation error.

An example of what an innocent mistake amounts to is where incorrect or misleading advice has been given by a financial professional and can be proven. And an example of a mitigating circumstance is where bereavement or serious illness has resulted in the individual in question failing to make clear on a tax return any offshore income generating assets. What does not constitute a mistake however is ignorance. I.e., you cannot claim that you did not know that you had an obligation to pay British tax on any money you had offshore as everyone who is a British domiciled resident tax payer should know that all income and assets are taxable under the British system no matter where in the world they are held.

So, if youre innocent of making a non-disclosure through a genuine mistake or an exceptional circumstance, or the tax you owe is less than 1,000 you will not face a fine by the taxman. Anyone else should take professional advice immediately about getting their affairs in order and correctly disclosed to the taxman by the March 2010 deadline.

About the Author:
Lee Byers provides high quality investment products and services that are tailor-made to meet our client's particular requirements. Our reputation has been built over the last nine years on solid values and investment expertise. Our experience and success has established us as one of the fastest growing investment brokerages in the world today. Further information about the Group is available on Lee Byers

The world economy is not doing so well as before. The bad economy has caused many entrepreneurs to enter into bankruptcy. No one will ever want to suffer from financial problem during the bad economy. If you dont want to suffer from this consequence, you need to take several steps as precautions. One way to protect your finances from the bad economy is to invest your money offshore by Company Incorporation or offshore bank.

Offshore financial institutions are located in countries with low tax jurisdictions. With low tax jurisdiction your money will be safe from high income tax. In addition the low tax jurisdiction will protect your money from various kinds of financial instability circumstances. The low overhead cost in offshore countries enables you to take advantage of high interest rates. You will have access to all the standard banking features just like the savings accounts that are offered by local financial institutions. Some of the standard banking features you can access include wire transfer, foreign exchange, fund management, and etc.

If you live in a country with poor financial stability, it is recommended that you dont save your money in a local bank. Instead, you should save the money in an offshore bank that is located in a country with stable financial situation. In this way, you wont have risk of losing your money during a political catastrophe. You should make the decision to save the money in an overseas account now as financial troubles can take place in your native country at anytime.

Offshore banking can minimize your tax liability. They will protect your financial information from all the third parties including government bodies, judge and etc. The secrecy law practiced by offshore banks prevents people from knowing that you have an offshore bank account. Since the nineties, many businessmen have invested their money in financial institutions offshore. This has become very popular because offshore banks offer packages with attractive benefits for everyone. You dont need to be extremely wealthy to open a bank account offshore.

Offshore banking has become more and more widespread because of the advertisement in the publications. Many offshore advisers are spreading information about benefits of offshore banking to the public. Hence, more and more people are investing in offshore banks. The Dominica is one of the offshore countries where large companies invest and transfer their assets to.

The bank secrecy legislation practiced in banks ensures that government officials cannot spy on your financial affairs unless they are requesting it due to a criminal offense. They will not be able to gain information about your assets. They cannot know where you hold a credit card from the offshore bank because your name wont appear in the transaction receipt. The interest is paid to your savings account in full without deducting from it any government tax. If you plan to move to another country, you should transfer the funds to an offshore bank before leaving. This step is recommended for people which live in countries with high risk of political and financial turmoils. It will prevent your assets from getting seized by the government officials.

In industrialized countries, the residents are often forced to pay high tax. The high income tax causes your revenue to be reduced significantly. If you dont want your money to be taxed, you can transfer them to an bank account offshore. Offshore banking is a legal practice. Many high tax administrations attempt to prevent people from banking offshore by introducing publicity criminal tax evasion campaign. If you are not familiar with offshore banking you will probably think that it is associated with money laundering criminality. Many journalists also help to spread negative information about this. Although there are many offshore money laundering cases, most of the businesses that operate offshore are legal.

Company Incorporation

Contact Info
Offshore Banking and Financial Stability, Bill Horner
Phone : +1 767 440 67 09
Email : bill@seo-watch.com

Offshore banking can be immensely lucrative to many investors. This is primarily because an investment's rate of interest is much higher in the case of numerous, offshore jurisdictions. Many offshore companies are established in a location that offers a low tax jurisdiction, which assists in earning a high rate of interest and thereby, generating much profit. Although there are a few disadvantages of having an account at an offshore bank, there are many reasons, why offshore companies continue to prove to be highly beneficial and advantageous for investors. In this article, we shall discuss the reasons that make offshore banking a consideration for any prosperous business plan.

• Financial privacy is one of the biggest benefits of investing in offshore companies. The secrecy policies provided by so many offshore jurisdictions make them attractive to many investors. There are a large number of offshore banks that also provide an excellent return on investment through the potential for higher interest gains.

• Sometimes, these offshore companies are located in a tax haven, or in a place, where the tax regulations and charges are very lenient. In addition, some locations may also add to the prospective profits through high interest rate gains on offshore banking. In most cases, these jurisdictions are the nations that have a comparatively stable financial and political jurisdiction. When involved in international business investments, it will always pay off to remain aware of a jurisdiction's local economy. Smart investors pay attention to factors such as this and make educated decisions upon where to establish the best offshore banking location.

• There are many services that are provided by leading offshore banking organizations that are not a part of services provided by domestic banks in a particular region. International tax planning services are one example of an attractive and valuable professional service for intelligent offshore companies. These experts can provide the guidance necessary for a successful offshore company location. Many of these consultants will also have the ability to assist in a business' international tax planning strategy for the most effective and profitable formation.

Large numbers of offshore companies are located in remote and faraway lands that provide a more lenient or simpler tax regulation system with lower fees for investors. In addition, these countries may also offer offshore companies a comparatively, stable political and financial environment. Remember to spend time thoroughly evaluating the many options for an offshore company formation. It may be helpful to consult with fiduciary experts for the most successful investment possible. Visit CarloScevola.com for more information on offshore companies, offshore banking, and so much more.

Finding out how to begin investing offshore and if offshore banking is right for you depends on your individual needs and circumstances. Offshore bank accounts can be defined as an account that is located outside of a person's domestic country's bank that may offer desirable options that are not available to them in their homeland. Because of government turmoil and unstable economic situations, many individuals and companies are looking for safe havens where they can place their money and other assets of interest into accounts offshore that will be free from risk. Another great option for those looking to banking offshore is the tax haven that many financial institutions offer for their account holders. Lastly, this kind of banking is great for those who travel frequently and want to have international access to their finances at any time day or night no matter what country they are located in at that time.

Getting offshore banking advice that is accurate and beneficial can sometimes become an overwhelming task. You will find that most offshore banking guides have some kind of incentive to promote one bank or account over another. Finding unbiased advice for banking offshore is important when planning for your financial future. Those who are interested in learning about how to bank offshore are more than likely already familiar with the many benefits that such an account structure can offer them.

Because there are so many jurisdictions to choose from, it is very important that investors looking to open an account understand the laws of the financial institutions in each location. You will soon find out that some offshore jurisdictions have very strict rules and regulations that govern these financial intuitions. This gives the account holder a high level of secrecy. That is often one of the biggest reasons individuals and businesses seek to go outside of their country for their banking needs. Those looking for safe havens for their financial investments will find that it is very important to get as much information as possible on how to become a wise banker.

Finding the right account outside of your country that some of the more prominent offshore financial institutions offer, is based on your own personal needs. You will find that offshore banks offer the same great benefits that someone will find from their domestic financial institutions. You will want to get a lot of your banking information from offshore banking guides so you will make an informed and educated decision so you get all the tax benefits and other incentives that the bank account structures have to offer.

Learn more about offshore banking and find the right information to answer all of your questions.

Article Source: http://EzineArticles.com/?expert=Molly_A_Clark

The Cook Islands Are A Beautiful Place For Tax Free Investing And Offshore Banking.

Probably one of least important features required of a tax haven, is beauty. But if an investor is planning on spending any time in the region where they do their banking, the Cook Islands offer a beautiful setting for tax free investments. While that is hardly an important criteria, it is something to consider.

The Cook Islands consist of 15 islands located west of Tahiti and Samoa, and east of Tonga. The islands themselves cover an area approximately 1.3 times the size of Washington D.C. There are 2 main groups of islands, with 9 islands being in the Southern group and Northern group consisting of 6 atolls, and the main island of Rarotonga being located 3,000 km northeast of Auckland, New Zealand.

While English is the official language, the native islanders are closely related to New Zealand's Maoris both in culture and traditions and speak Maori as well. Agricultural exports of black pearls, copra and citrus fruits are the major economic base and employs nearly 1/3 of the population. Foreign aid to offset trade deficits are by money provided by the New Zealand government.

The islands have their own sovereign parliament, with undisputed political power. With the legal system is based on English common law, the parliament passes all laws implemented. The islands Democratic governing body consisting of a 25 member legislative assembly, a prime minister and the prime ministers cabinet. The capital is the town Avarua, located on the Island of Raratonga. The Queen of Zealand is still holds the position as head of state there, due too the close ties the Islands have in both location and economics.

Setting aside the tropical beauty of the Cook Islands, their business atmosphere seems to favor nonresidents who are looking for a tax free haven where they can invest their money. The Cook Islands have become synonymous with high profile offshore banking transactions and offshore incorporation. With no taxes being levied on capital gains and incomes, and the lack of an inheritance tax, these islands would seem like the perfect place for moving money offshore.

The Cook Islands have laws limiting the time actions can be taken against trust assets, and the laws of the Islands overrule the laws of other countries in matters relating to the transfer of property to a trust

These things, along a governing body favorable to outsiders who's investments can only improve the Island's economies and the English speaking banking community, makes the Cook Islands seem like an ideal place for offshore banking investments mixed with a luxurious tropical vacation.

Englishman Peter Macfarlane is an author and lecturer on offshore finance, investment, due diligence and wealth creation matters. After fifteen years advising high net worth clients on offshore asset protection structures such as companies, trusts and private interest foundations, he decided on a career change and now mentors individuals who are interested in creating, preserving and growing wealth in a secure offshore environment. Peter defines wealth in the broadest sense, believing that money is worthless if you don't have health and happiness. He is now joint editor of The Q Wealth Report, a publication dedicated to publishing freedom, wealth and privacy information for a select audience. He offers a free sample copy to readers of EzineArticles. Visit the Q Wealth Report and learn more about offshore private banking.

Source: Peter Macfarlane

For those of us who have reached above a certain threshold of wealth, private banking is the best option for solidifying our future and receiving great returns on investments. After a certain point your money is being wasted just sitting in a savings account. Private banks allow you to effectively turn profit, fast, with money you already have.

So, what exactly is private banking? Private banking is a form of specialized capital management that allows the investor guidance for his or her unique circumstance.

What makes it different from the average commercial bank? Private financing allows a more personal connection with your banker than with a normal commercial bank and allows decisions to be made that are specific to your needs and desires.They manage your wealth and allow you to make specialized investments rather than just compound a minuscule amount of interest on your money. These firms provide, along with your wealth management, savings options, inheritance management, and tax planning to their clients. These services allow you to greatly benefit from your investments in more ways than just monetary gain.

These firms use in depth asset management tools that allow you to maximize your earnings safely and effectively. These banks receive a higher return than independent investing and allow the investor peace of mind when it comes to their portfolio. These financial firms have assets in many countries around the world, allowing you to spread the reach of your investment and once again further your return on those investments.

Furthermore, these banks offer specialized loan services to allow you to effectively kick start any endeavor you wish to embark on, allowing you unprecedented access to resources that can fit your budget.

These banks provide an extensive network of experienced private banking experts that deal with clients, like yourself, on a day to day basis. These mavericks in the financial world will offer you an exclusive look at investment opportunities and offer you great advice into the inner workings of the financial world. These bankers are dedicated to sustaining and ultimately increasing your wealth to ensure the prosperity of you and your family.

To start a portfolio, you generally need about two hundred and fifty thousand dollars or more to invest to make substantial earnings. The more money you have to offer the higher priority client you become. The more you have to offer to the firm, the more they have to offer to you. They are, after all, a financial company and much of their success is on the coattails of your hard work. So, why not capitalize on something you already have.

Entrepreneurs, professionals, executives, families, friends and many more are flocking to join these banks to get some of the best some of the best financial service in the world. They turn massive profits with almost no effort, securing their lives and the lives of those around them. If you wish to do the same, join a private bank now and invest in your future.

About the Author

Alfredo Piacentini the co founder of Banque SYZ &CO is a well known private funds manager. Learn more about private banking and alfredo piacentini banchiere today at our website.

Source: Article Click

New quality business is ripe for the picking in Russia as growing numbers accumulate wealth, according to Jersey Finance, the government's financial services industry promotional body.

Christine Whitfield, Head of Special Projects, Jersey Finance Limited, has returned from a major conference in Moscow in which wealth preservation outside of Russia together with succession planning were acknowledged as key considerations for Russian High Net-Worth Individuals (HNWIs) who have established successful businesses.

Whitfield said:

"Jersey is ideally placed as a leading international finance centre to provide high quality financial services. Jersey's trust law is extremely well regarded and offers asset protection for international assets together with estate planning, which Russians now seek. In this post-financial-crisis environment, it is not only about the products but also about the reputation of the jurisdiction so Jersey's high standing in respect of regulation and corporate governance is an attractive aspect to advisers and intermediaries representing Russian clients."

"We know for instance that there is increasing interest from Russian family offices in using private trust company ownership as part of a wealth management strategy and Jersey offers this."

The event, the 2nd Adam Smith International Conference 'Wealth Management and Private Banking, Russia and CIS,' was held in Moscow earlier this month. It attracted finance professionals in private banking and wealth management, family office representatives and advisers to wealthy Russian individuals. Carey Olsen, Equity Trust (Jersey) Limited, Horizon Trustees (Jersey) Limited and Investec Trust also sent delegates to the event from Jersey.

The programme of engagement with Russia continues later in the year when a further visit is planned by Jersey Finance and consideration is being given to extending the visit to include St. Petersburg.

We are going to discuss the movement of funds from your own country or another country to an offshore bank presumably in an offshore tax haven. We are not going to discuss any illegal scenarios.

Why do People Move Money and Assets Offshore - Many of you will first think taxes? Well you are wrong. How many dictatorships are there in the world right now? Quite a few. There are ruled by kings who are in office for life. They can confiscate funds at will from anyone in the kingdom. How many military coup governments are running countries? Quite a few and they too can grab money from anyone in their jurisdiction at will. How many countries practice religious persecution? Many with even death penalty for infractions. Confiscation of wealth is a popular penalty involving religious persecution. How many countries practice political persecution? Many. How many countries have criminal gangs and organizations that are almost as powerful or as powerful as the government in power? Quite a few and they often get into the bank records in their country to see who to rob, kidnap, extort or otherwise victimize.

Then we can get into countries with out of control civil litigation systems where lawyers can strip you of all your assets in an unfair system that is out of control. Then we get into countries where kidnapping is prevalent and we could keep going on and on. There are numerous reasons for moving funds offshore where they can be safe other than tax implications. High tax governments want you to think that offshore banking and asset protection is only about tax avoidance but as you can plainly see it protects people from a lot of evils the high tax governments can care less about protecting people from.

Taking Cash Out of the Bank - Well this is the first thing that comes to mind with most people. Let me take the cash out and then transport it and deposit it into the offshore bank account. This perfectly guarantees that there is no trail to follow. Will this work? Sure and moving cash by itself is not intrinsically illegal as long as you report it correctly but there are some pitfalls to watch out for.

First of all many but not all governments want you to declare when departing their country with any amount of cash or negotiable instruments over $10,000. They word these forms as to be unclear if it is $10,000 per person or family. Usually per person, but do inquire. You can always have family members take separate flights to avoid get snagged by vague interpretative errors regarding the way the law was written. Do minors count - usually not. Today with all the inspection machines and other screening devices it is best to fill out the declaration form if required to do so, when departing lest you have the funds confiscated and face arrest. You may have to supply a source of funds statement, which is to say where the funds were derived from. In some police states it is really best not to move cash out since you may face a lot of questioning. This also depends on the amount. If you say you are going to a country to gamble at a resort and have $35,000 cash that is one thing. If you say that you are going to buy a hotel for cash and have $5,000,000 that's is going to be another story altogether. Other factors are where you are going, who you are, where your passport is from, what profiles the country ahs on you etc.

In some countries removing large amounts of funds will trigger responses. The bank will tell you they have to order in the cash and that will take one or two days by armored car. Then they file suspicious transaction reports with the government to see if they want to confiscate your funds or arrest you or something. If it is $40,000 and you said you were buying a boat or car from a private party for cash that might not attract too much attention. If you tried the same thing with $900,000 it would not be plausible and thus more suspicious. If the figure was $3,500,000 even more suspicious. See how it works. In some countries large cash movements are common and the banks do not pay much attention to it.

With the advent of the information age businessmen are finding hundreds of ways of improving their businesses and increasing productivity by incorporating the internet into their daily business lives. This has had tremendous positive implications in the global trade market. With increased connectivity, large numbers of men and materials are easily handled by the new age managers. The banking sector is no different with people these days being aware of the best suited deals for their businesses. Offshore banking has had a huge fillip with even the common man being made aware of the numerous advantages one enjoys if he or she maintains a private offshore account.

Benefits of Having an Offshore Account:

Offshore savings firstly give the account holder a sense of security because of the private nature of these holdings. Only the bank and its trusted officials would be aware of the bank's clientele. This too would be strictly monitored by a responsible offshore bank due to the obvious sensitive nature of customers identity and their intimate account details.

Investment Risk is Lesser for Offshore Banks:

Savings being an integral part of a hard working citizen's long term plans, every person begins to think about saving assets for a future emergency the minute they begin their career. But with today's economy, investment in risky ventures is at an all time low and the common man is quite wary of making any risky investments whose outcome is anybody's guess. Hence banks are more popular these days due to the stable nature of its returns and a fixed deposit maintained at a reputed private or public bank is given importance.

Interest Rates Followed in Major Offshore Banks for Term and Short-Term Savings Deposits:

Offshore banks give a reasonable interest rate to those seeking to increase their holdings in a steady and trusted manner. You can be rest assured that there would be no untoward losses once you deposit your money. You can enjoy the double benefit of not being overly taxed like you would in your home country and also have the satisfaction of seeing your deposits grow over time. A healthy interest rate of 4.25% is offered for those who deposit a minimum of $10000 for a period of one year in a good offshore bank. The interest rate varies as per the currency in which the deposit is made. Normally the interest rate increases slightly if either the duration of deposit or the amount deposited increases. For example a five percent interest rate if offered for a minimum deposit of $100000 over a period of at least two years. So, the more money you deposit for longer periods, the larger the benefits you enjoy! 

If you are apprehensive about tying up your money for long periods of time then you should consider investing in an offshore savings bank account. A savings account would enable the depositor to withdraw their money on short notice without disrupting the long term deposits. Although the interest rate is lower at 3.25% for the U.S. Dollar, one enjoys greater flexibility in terms of money usage while still having interest flowing in due to one's assets. The majority of respectable offshore banks follow similar interest plans as mentioned above. Before choosing the offshore bank to invest in, do be sure to check out their reputation with former customers and the genuine feedback they offer about the bank. Offshore banks are usually present in countries where the taxation laws are not as hard-hitting as countries like the United States and other major nations.

Source: http://www.bancotrasatlantico.dm

If you think you want an Offshore Bank Account, consider the advantages of an Offshore Investment Account:

• Offers Multi-currency diversification all under one account
• Debit card linked to your investment account
• Secure online statement access 24/7
• Global access to all major securities markets
• Access to the best offshore funds
• Highly rated custody network for client assets
• Referral network to high-quality accounting, tax, & estate planning professionals

Differences between Offshore Bank Accounts and Offshore Investment Accounts

Offshore bank accounts are administered by banks and offer traditional banking services which make it more convenient to utilize the assets held in the accounts for everyday spending, receipt and distribution of funds.

Offshore Investment Accounts are administered by investment dealers. The main advantage of offshore investment account as compared to bank accounts is that besides being able to hold cash in multiple currencies, they can also buy, sell, and hold stocks, bonds, mutual funds, precious metals and other types of investments. They offer much greater flexibility in terms of providing access to a larger variety of investments.

Like a bank account, they allow investors to access their money via wire transfers and debit cards. Also, they can get you access to money market funds in several currencies, which usually offer better yields than holding cash. However, investment accounts are not intended to be used for day-to-day banking transactions. Funds received in such accounts are expected to be used for investment purposes within the account.

So, if you have your money just sitting in an offshore bank account and you are ready for more investment choices you should consider an offshore investment account.

For more information visit www.batemanfinancial.com or contact Josh VanDyk l 1-345-943-4766 l josh.vandyk@batemanfinancial.com