Not long ago offshore investors were not able to obtain a credit card from an offshore institution. However, things have changed in recent years. Previously individuals with offshore accounts had to physically withdraw money from their offshore banks, or have money wired to them. Nowadays most offshore banks offer a variety of bank cards with the features and benefits of being co-branded with Visa, MasterCard and now even American Express.
Deutsche Bank has earned the accolade of the best private bank in Cayman in the prestigious Euromoney private banking survey 2007. The survey reflects the opinions of both advisers to private clients and other wealth management companies. The survey also takes into account a wide range of factors including assets under management, profitability, ratio of clients to relationship managers and the services offered, states a press release.
NEW YORK, NY -- (MARKET WIRE) -- 12/21/06 -- Barclays PLC announced that investments in iPath(SM) Exchange Traded Notes (iPath ETNs) surpassed $1 billion. The first two iPath ETNs were launched in early June, and the third in August.
Exchange Traded Notes have a 30-year maturity and are senior, unsecured, unsubordinated debt securities issued by Barclays Bank PLC linked to the performance of a market index. Exchange Traded Notes are designed to provide investors with convenient access to the returns of market benchmarks, less investor fees(1), with easy transferability.
In the world of international finance you will hear a number of confusing terms to describe various kinds of banks. These include A banks, B banks, C Banks, offshore banks and shell banks.
A shell bank is one which has no substantial presence, staff, or independent existence. These banks are often nothing more than a banking license lodged at an attorney's office with the nameplate on the door from which they have also come to be called, brass plate banks. Under the Patriot Act, these banks are de facto presumed to be criminal operations. The most famous purveyor of these banks was Jerome Schneider, who has since been convicted of various felonies.
Continue reading "ABC banks, offshore banks and shell banks..." »
What are the benefits?
If you live and work overseas, offshore banking could have tax benefits, i.e. interest on offshore accounts and investments is paid without the deduction of tax. Added benefits include high levels of confidentiality, security and convenience, as well as global access.
By Paul Lashmar
The US Senate has accused the Isle of Man, the Cayman Islands and other offshore havens of facilitating tax evasion that costs other countries billions of pounds every year.
Continue reading "Offshore Havens ‘Declare War’ on Honest Taxpayers" »
Buyout specialist Advent International has completed its $167 million acquisition of Nuevo Banco Comercial SA, the largest commercial bank in Uruguay. The deal was first announced in September and recently won approval from Uruguay's central bank, the key financial services regulator in that country. Advent had originally predicted that the deal would close in December.
Continue reading "Advent International Acquires Largest Bank in Uruguay"
Barclays has developed a brand-new seminar to help small business owners boost their profit.
(PRWEB via PR Web Direct) May 19, 2005 -- Barclays has developed a brand-new seminar to help small business owners boost their profit. The bank will be running a programme of free seminars: Let’s Talk Bright Marketing and Let’s Talk More Profit from May 23rd.
By Yvette Essen
Gibraltar, the sunny British territory famed for its imposing Rock and Barbary Apes, is in talks to create its own stock exchange.The exchange, which would be called GibEx, was dreamt up by local law firm Hassans and Austrian-based bank Medici.
They are outlining plans to the authorities and the business community to create a trading platform, which may have the technical assistance of the Vienna Stock Exchange.
Continue reading "Gibraltar flies the flag for its own stock market" »
/24-7PressRelease/ - ST. VINCENT & THE GRENADINES, April 16, 2006 - Much has been written lately about the subject of Certificates of Deposit. A certificate of deposit is a very powerful investment tool but, some are kept away because it all seems a bit to good to be true.
What are Certificates of Deposit? In simplified terms a CD is a savings certificate entitling the bearer to receive interest.
Continue reading "Certificates of Deposit, What are Certificates of Deposit or CD's?" »
The liberalisation of foreign exchange and de-pegging of the ringgit have widened investment options for local investors with an appetite for overseas investments, said Alan Inn, head of investment and product development of CIMB Private Banking.
“Having offshore investment is an effective way to diversify and enhance your portfolio’s return because investors no longer have to suffer from the lack of investment opportunities.
Continue reading "Maximising returns with offshore investments" »
China's biggest lender, Industrial and Commercial Bank of China (ICBC), is selling a 10% stake to Goldman Sachs, Allianz and American Express.
The deal, said to be worth more than $3bn (£1.7bn), is just the latest example of Western financial houses investing in Chinese banks.
Bank of America and Royal Bank of Scotland are two other firms who have recently bought into Chinese lenders.
COLORADO SPRINGS, COLO. - While serving on the executive board of the Asian Development Bank under the first President George Bush, I consistently called for China to “bite the bullet” and privatize its state-owned companies as soon as possible. Representatives from European and other Asian countries would just shake their heads and mutter about impatient Americans while counseling that China adopt a slow, incremental approach to privatization.
By Stephen Bartholomeusz -
The remarkable aspect of the Macquarie model for investment banking is not the amount of wealth it generates for its executives, although that is remarkable, but how its development has turned the bank into probably the world's best-performed and fastest-growing investment bank.
The catalyst for transforming Macquarie from an Australian investment bank with limited offshore activities into a globally significant institution was probably the Kennett government's decision to award Transurban the CityLink tollway concession in 1995. Macquarie's involvement in advising Transurban, and structuring and arranging the financing for the stapled trust, created the template for its specialist funds strategy.
Continue reading "Is Macquarie the world's best-performed investment bank?" »
MEXICO CITY -(Dow Jones)- Mexican bank leader Grupo Financiero BBVA-Bancomer SA said it has launched a private bank Wednesday to provide comprehensive services for wealthy customers.
Private Bank Bancomer said its clients account for 40% of Mexico's market for high net-worth individuals.
"People don't have to think about offshore institutions to get answers to their financial needs," said Jaime Alvarez, who heads the private bank, in a release.
Continue reading "Mexico's Bancomer Launches Bank For Wealthy Clients" »
By Doug Casey -
I've spent a lot of time in Switzerland over the years, including two semesters of college. But not much in recent times, when most of my travel and living has been in less developed countries. I did, however, log a few days in Zurich before Christmas to renew some old acquaintances.
Some readers may remember when, during the monetary crises of the '70s and early '80s especially, Switzerland was viewed as a logical, even the premier, refuge for Americans. Numerous privacy and investment seminars were sponsored here for Americans.
Continue reading "Offshore accounts: No longer an easy option" »
By Joe Leahy -
UBS has sufficient demand from clients to warrant further increases in the amount it is investing in China's domestic stock and bond markets, Leon Brittan, vice-chairman of UBS Investment Bank, said yesterday. Such additional investment by the Swiss-based bank was mainly being held back by regulatory issues. "There is no shortage of demand [from clients]," Lord Brittan said.
Q&A between Lindsay Williams and Peter Rigby;
December 2004 the rand trades at 5.60 to the US dollar - the first weeks of January 2005 the rand weakens to 6.14, strengthens temporarily, and slides once more - should investors be looking offshore? Alexander Forbes Financial Planning Consultants senior advisor Peter Rigby
LINDSAY WILLIAMS: I remember - back three or four years ago, whenever it was the rand started sliding - everybody chucked their money overseas. They burnt their fingers - is it going to happen again?
Continue reading "To place, or not to place money offshore?" »
ING Industrial Fund is the latest vehicle to head offshore but it has its sights more on Europe than the United States.
The plan to head overseas was revealed when the fund announced an 8.5 per cent rise in net profit to $52.7 million for the six months ending December 31, 2004.
Distribution for the period rose 2.8 per cent to 7.3c a unit, while total return, being income and unit price increase, was 24.3 per cent over the six months.
By Kevin Burrows -
The first offshore operations in the Western Hemisphere were established in the Bahamas in 1936 by British and Canadian interests to provide management services for the investments of wealthy clients. These operations eventually became a wholly owned subsidiary of the National Westminster Bank, which was consolidated into the private banking operations of its parent company. Offshore financial centers provide a number of legitimate and important services that can be broadly grouped into 3 categories:
Continue reading "Taxation, Globalization and Free Trade in the Bahamas" »
HSBC International deals with hundreds of enquiries a week, here are some of the most frequently asked questions with some answers.
1. What exactly is offshore investing?
In the financial sense, 'offshore' means a jurisdiction other than the one in which you live. Established offshore centres such as Jersey, Guernsey and the Isle of Man have laws which may offer financial benefits when you bank and invest with them.
By Jonathan Curshen -
As we move closer to a global economy, there is a trend among smaller, less economically developed countries to follow Switzerland’s lead to legislate measures to attract foreign investment money to their economy. As a result new financial opportunities are opening to those who are willing to take advantage of them.
The global economy is experiencing exponential growth because of the Internet. The ease and fluidness of account access through the Internet has made it possible to seamlessly bank both and invest domestically and offshore: move funds, check balances, write e-checks, make payments, transfer money between accounts, and purchase investment options. Offshore banking is now competing successfully with domestic financial institutions.