Cyborg | Designer-Babies | Futurism | Futurist | Immortality | Longevity | Nanotechnology | Post-Human | Singularity | Transhuman


Page 11234..10..»

Offshore Banking Worldwide, Establish and Setup Accounts

 Offshore Banking  Comments Off on Offshore Banking Worldwide, Establish and Setup Accounts
Aug 102015
 

Offshore Banking Consultations Click or call today for a free offshore consultation. Call: 1-800-959-8819

When it comes to safety of your financial picture and planning your protection, we recommend only the safest and most secure financial institutions in the world. Depending on the jurisdiction you choose, we have relationships with secure offshore banks that offer our customers the highest amount of stability and safety.

Offshore banking or Offshore banks refers to the many banking and investment institutions available in countries and jurisdictions other than the depositors home country. While technically any bank can be considered an Offshore bank when it meets the above criteria, the term is generally reserved for the banking institutions located in what are considered jurisdictions that have a high regard for the privacy of their depositors.

Since their origin, Offshore Banks, tended to be unfairly portrayed by both media and the home jurisdictions alike the accusations have ranged from tax evasion to money laundering, but careful examination of the true purpose of Offshore Banking Accounts, and an unbiased examination of where illicit funds are truly held or laundered, sheds light on the situation. Other false accusations have centered around criticism of unsafe environments, poor regulation, etc. Again, these could not be farther from the truth. Most Offshore Bank Account jurisdictions of any repute have very sophisticated, stable banking regulations, and because it is in their best interest to attract and keep depositors, these regulations are geared towards meeting the needs of the depositor. Many of these jurisdictions rely on foreign capital held in their banks as their primary economic factor, and as their only source of foreign investment.

The broad definition of an Offshore bank is that of a bank that is located in a jurisdiction or country that is different from the jurisdiction or country that the depositor or investor resides. One of the many benefits of holding an Offshore banking account is that they are usually located in tax havens that provide substantial asset protection and confidentiality benefits to the bank account holder. These jurisdictions also often allow for a relaxation of restrictions with respect to the types of offshore banking accounts available to depositors or investors, and how then can be manipulated. This amounts to decreased regulation. The more popular offshore jurisdictions often provide a substantial decrease in tax liability, whereas those in some countries, such as the US are generally taxed on worldwide income. For our purposes here we will focus only on those proven to provide quantifiable benefits as outlined above. These Offshore banks can be located in actual island-states such as the Caymans or Channel Islands, or in landlocked countries such as Switzerlandbecause Switzerland has been a tax haven for over a hundred years and longer than the island nations. There has been much chatter regarding the privacy of Swiss banks. Youll notice, however, the only Swiss banks that have had issues are those banks with branches located outside of Switzerland. Those with purely Swiss locations continue to maintain strong privacy.

As mentioned in our opening paragraph, there are a number of misconceptions and myths associated with offshore bank accounts in these offshore financial centers Are Offshore Banks the Haven of Money Launderers and Criminals? We have additional information on Offshore Bank Account Myths that should be taken into consideration.

It is important that the proper jurisdiction be selected when deciding which jurisdiction to use as an offshore banking jurisdiction. The majority of the offshore jurisdictions have prudent, sound regulations in place geared towards safeguarding the deposits and maintaining their confidentiality. However, some weigh their benefits in taxation, while others in confidentiality, and so forth. Though they all offer a comparatively confidential and secure environment, it bears consideration to outline what the banking goals are and then choose the jurisdiction accordingly. A small minority of the offshore jurisdictions do a poor job of managing and regulating their banking institutions, but the informed investor or advisor will deem these as unsuitable for themselves or their clients. Further, these poorly organized and run jurisdictions are often manipulated by illicit depositors and hence prove easy targets of the FATF (Financial Action Task Force) looking for money laundering or other criminal activity.

It is an unfortunate fact that Europeans have always been subjected to relatively heavy tax burdens. This was as true on the British Isles as it was on the continent. Faced with the prospect of watching their hard earned assets and wealth diminish with every out-reach of the tax collectors hand, they were ripe for a solution. And a solution camethe small, island nation state known as the Channel Islands convinced these frustrated depositors that deposits placed in its banks could be free from scrutiny and hence the heavy-handed taxation burden. The Euros were convincedand soon this service thrived, with other small jurisdictions becoming savvy to this foreign capital-attracting status and they began to revamp their banking institutions, adopting sound, pragmatic banking rules and regulations that eased the potential concerns of investors and depositors. The Offshore bank was off to a running start!

And soon the term Offshore banking became synonymous with any smaller, haven jurisdiction that offered safe, secure, confidential banking with practical regulations. Soon the rest of the world was in the know, and began to look at these havens as viable solutions to their needs. Americans, Africans, Asians, etc., found these Offshore bank accounts quite useful for a myriad of reasons. Unlike their banks at home, these Offshore banks were not regularly subjected to political turmoil or economic strife, and were most welcome for their stability and asset protection benefits.

In the years since they have come into greater use and thus more visible, offshore banking accounts have been unfairly portrayed by the media and by the larger jurisdictions as the stomping grounds of the criminal undergrounda veritable haven for their illicitly-obtained assets and funds, or the choice locales for their money-laundering schemes. Money-wise investors and depositors have long known that these prejudices could not be further from the truth. They know that offshore banks can be remarkably effective havens for assets and funds in need of safe, secure, confidential keeping. They know that these banks can safeguard their funds from the perils of civil, economic, or political strife in their home countries. Today, offshore banks continue to keep their end of the bargain and continue to provide a safe, confidential haven for those seeking to safeguard their assets and funds from the perils of undue regulation and taxation.

See the original post here:
Offshore Banking Worldwide, Establish and Setup Accounts

Banks win round 1 vs BIR policy on income, expenses allocations

 Offshore Banking  Comments Off on Banks win round 1 vs BIR policy on income, expenses allocations
Apr 112015
 

THE Makati City Regional Trial Court stopped the Bureau of Internal Revenue (BIR) from implementing Revenue Regulations No. 4-2011 which prescribes the rules on the proper allocation of cost and expenses among the income earnings of banks and other financial institutions for income tax reporting purposes.

Makati RTC Judge Honorio Gualao Jr. issued the ruling after the Bankers Association of the Philippines (BAP) composed of several local and branches of foreign banks filed a petition for declaratory relief with application for a temporary restraining order and/or writ of preliminary injunction.

The restraining order is for 20 days and the court has set a hearing on April 20 for the application for a writ of preliminary injunction.

The objective of RR 4-2011 is to set the rules on income and expenses allocations of banks among their various operations, which are governed by different income tax rules

RR 4-2011 provides that a bank may deduct only those costs and expenses attributable to the operation of the Regular Banking Unit (RBU) to arrive at its taxable income. Any cost or expense related to or incurred in the operation of the foreign currency deposit unit (FCDU)/expanded FCDU (EFCDU) or offshore banking unit (OBU) is not allowed as deduction from the RBUs taxable income.

Failure to comply with the RR will subject officers of the banks and other financial institutions to criminal liability.

The banks filed a petition before the court to nullify RR 4-2011 after the BIR started issuing preliminary assessment notices (PANs) on several banks.

A PAN shows the deficiency tax assessment as well as the detailed facts and the law, rules and regulations or jurisprudence on which the proposed assessment is based.

Petitioner banks feared that issuance of PAN could lead to a distraint and levy of their properties.

Should there be distraint and levy, the banks will be deprived possession of their properties, effectively crippling their business operations, the petition stated.

Here is the original post:
Banks win round 1 vs BIR policy on income, expenses allocations

Court stops restriction on bank tax deductions

 Offshore Banking  Comments Off on Court stops restriction on bank tax deductions
Apr 112015
 

Top Story

Posted on April 09, 2015 10:24:00 PM

By Mikhail Franz E. Flores, Reporter

Twenty-one banks sought temporary relief before the Makati court against the tax rule.

BIR Lawyer Felix Paul R. Velasco III confirmed that the bureau received a copy of the order. TRO was served after office hours, Mr. Velasco said via text.

He also said that Bank of the Philippine Islands, which filed a separate but related petition, has been assessed P3 billion in tax dues under RR 4-2011. The other banks did not indicate the amount in their petition. But they said the preliminary assessment is significant, Mr. Velasco added.

RR 4-2011 prescribed the proper allocation of costs and expenses among income earnings of banks and other financial institutions for income tax reporting purposes.

RR 4-2011 noted a banks income comes from its regular banking unit (RBU), foreign currency deposit unit (FCDU), expanded FCDU (EFCDU) and offshore banking unit (OBU). BIR defined RBU as a unit or department of a local bank or of a local branch of a foreign bank that is authorized by the central bank to engage in regular banking activities; FCDU as such a unit or department authorized to engage in foreign currency-denominated transactions; EFCDU as such a unit or department of a commercial or universal bank that is authorized to deposit, invest or grant loans in long-term foreign currency-denominated transactions; and OBU as a branch, subsidiary or affiliate of a foreign bank authorized to operate as a separate off-shore banking business in the Philippines.

RR 4-2011 provides that only costs and expenses related to RBU operations can be deducted in order to arrive at taxable income subject to regular income tax. Any cost or expense related with or incurred for the operations of FCDU/EFCDU or OBU is not allowed as deduction from the RBUs taxable income, the issuance read.

Common expenses or those that cannot be tagged for a particular unit should be allocated based on percentage share of gross income of the specific unit to total gross income that is subject to a 30% regular income tax and 10% final income tax.

Go here to read the rest:
Court stops restriction on bank tax deductions

2014 IRS OVDP/OVDI Webinar Introduction – Video

 Offshore Banking  Comments Off on 2014 IRS OVDP/OVDI Webinar Introduction – Video
Apr 062015
 



2014 IRS OVDP/OVDI Webinar Introduction
This OVDP webinar event presented by Jeffrey S. Freeman, J.D., LL.M of Freeman Tax Law help answer IRS, tax law, offshore banking, and international tax comp. Are you confused about making…

By: Nepa Late

Read this article:
2014 IRS OVDP/OVDI Webinar Introduction – Video

$32 Trillion Stashed in Offshore Bank Accounts – Asset Protection Planners Examine the Facts

 Offshore Banking  Comments Off on $32 Trillion Stashed in Offshore Bank Accounts – Asset Protection Planners Examine the Facts
Apr 032015
 

VALENCIA, Calif., April 3, 2015 /PRNewswire/ — Offshore banking is growing in leaps and bounds as both the rich and the not so rich look for safe places to stash their cash. They are doing it in record numbers and record amounts according to a recent Bloomberg News report, which said that as much as $32 trillion has been stuffed in offshore bank accounts. Of the world’s 50 safest banks, according to Global Finance, not even one of the top 25 safest are in the United States. In fact, there were 45 banks outside of the US that were on the top 50 safest bank list and only five (5) headquartered inside the US, California based Asset Protection Planners reports.

“For most people, it is not only the objective of not paying taxes,” says Philip Marcovici, a tax lawyer and board member a Lichtenstein wealth adviser. “It’s the objective of obtaining the right to privacy and seeking financial confidentiality.”

Asset protection from lawsuits is another major objective. E. Valdes, a firefighter located in Miami, Florida says, “I just don’t trust the courts here. I want to set up an offshore account to protect myself from the unknown. Plus, if I can put my money in a safer bank than any of the local banks, I don’t see why I shouldn’t.”

Mr. Valdes is not alone. The debt of nations can wreak havoc on its banking system and US isby far the most in-debt country in the world. The United States has over $18 trillion in debt. That is a little over $58,000 per citizen and an unsustainable 106% of its gross domestic product. China, on the other hand, the world’s fifth (5th) most in-debt country, has $3 trillion in debt, which is just a little over $2,000 per citizen, or 37.5% of its GDP.

Where are the Safest Banks Located?

Regarding the safest banks, Canada has six (6) banks on the world’s 50 safest banks list. The United States, which has nine (9) times as many people as Canada, has onlyfive (5) banks on the list. Germany, which is about one-fourth (1/4) the size of the United states has six (6) banks on the world’s safest banks list. The United States is almost fourteen (14) times bigger than Australia in population, yet the Aussies have four (4) banks showing, all of which are on the top half of the 50 safest banks list.

The top 10 safest banks are located in Germany, Switzerland, Germany, Germany, Netherlands, Netherlands, Germany, France, Luxembourg and France, in that order. Of the top 50 safest banks,zero (0) were in Africa, 15 were located in Asia, four (4) in Australia, 19 in Europe, 11 in North America and one (1) in South America.

Banks in jurisdictions such as Switzerland can also act as money management firms. They have expert financial advisors who work with their clients to invest funds in a combination of interest bearing and stock market investments that suit their clients’ desires.

Who Has Offshore Accounts?

There are an estimated 26.2 million US citizens who have offshore bank accounts. Many of these individuals do not hold their bank accounts in their own names but in companies and/or trusts for enhanced protection from US litigation. Plus many foreign banks will not open personal accounts for US people, so a foreign corporation or LLC must be filed to hold title to the account.

Original post:
$32 Trillion Stashed in Offshore Bank Accounts – Asset Protection Planners Examine the Facts

Download PDF Treasure Islands Uncovering the Damage of Offshore Banking and Tax Havens – Video

 Offshore Banking  Comments Off on Download PDF Treasure Islands Uncovering the Damage of Offshore Banking and Tax Havens – Video
Mar 312015
 



Download PDF Treasure Islands Uncovering the Damage of Offshore Banking and Tax Havens
DOWNLOAD PDF Ebook HERE : http://bit.ly/1AGgBaZ.

By: americanwatches

View post:
Download PDF Treasure Islands Uncovering the Damage of Offshore Banking and Tax Havens – Video

Federal Agents Accused of Stealing $1M in Online Currency

 Offshore Banking  Comments Off on Federal Agents Accused of Stealing $1M in Online Currency
Mar 312015
 

Two former federal agents are accused of using their positions and savvy computer skills to siphon more than $1 million in digital currency from the illegal black market Silk Road website while they and their agencies were operating an undercover investigation of the online drug bazaar.

The pair appears to have acted independently of one another while using sophisticated encryption software, inside knowledge of the investigation and complex offshore banking transfers of digital money called bitcoins and U.S. currency.

Former Drug Enforcement Administration agent Carl M. Force, 46, was arrested Friday in Baltimore and remained in custody Monday after being charged with wire fraud, theft of government property, money laundering and conflict of interest.

Former U.S. Secret Service special agent Shaun W. Bridges, 32, of Laurel, Maryland, appeared in federal court in San Francisco and remains free on $500,000 bond after being charged with wire fraud and money laundering.

The two former agents appeared to have operated independently of one another in allegedly stealing electronic money known as bitcoins from the same investigation.

Force was the lead investigator of one aspect of the multiagency and multistate investigation of Silk Road and its now-convicted operator Ross Ulbricht, who used the online name “Dread Pirate Roberts.”

Force worked undercover and convinced Silk Road’s operator that he was a drug smuggler with global underworld connections. Force, using the online pseudonym “Nob” communicated with the Dread Pirate Roberts using “pretty good privacy” encryption software and obtained hundreds of thousands of dollars in bitcoin payments as part of a sting operation sanctioned by his supervisors. But Force is charged with failing to report many of the communications and payments and funneling money received from Silk Road to private accounts.

Force is also accused of creating a new online persona known as “French Maid” without his supervisors’ knowledge. Force is charged with using the French Maid moniker to sell inside information to Silk Road about the investigation into the website. Court records accuse Force of stealing more than $200,000 from Silk Road during the federal investigation of the site.

Force is also charged with accepting a position as chief compliance officer for a bitcoin company while serving with the DEA. Force is accused of using his DEA position to seize a customer’s $297,000 account and transferring it to his private account. Force resigned from the DEA last year after a 15 year career, according to court records.

His attorney Ivan Bates didn’t return a phone call.

Read more:
Federal Agents Accused of Stealing $1M in Online Currency

Federal agents accused of stealing $1M in online currency during Internet black market probe

 Offshore Banking  Comments Off on Federal agents accused of stealing $1M in online currency during Internet black market probe
Mar 312015
 

SAN FRANCISCO Two former federal agents are accused of using their positions and savvy computer skills to siphon more than $1 million in digital currency from the illegal black market Silk Road website while they and their agencies were operating an undercover investigation of the online drug bazaar.

The pair appears to have acted independently of one another while using sophisticated encryption software, inside knowledge of the investigation and complex offshore banking transfers of digital money called bitcoins and U.S. currency.

Former Drug Enforcement Administration agent Carl M. Force, 46, was arrested Friday in Baltimore and remained in custody Monday after being charged with wire fraud, theft of government property, money laundering and conflict of interest.

Former U.S. Secret Service special agent Shaun W. Bridges, 32, of Laurel, Maryland, appeared in federal court in San Francisco and remains free on $500,000 bond after being charged with wire fraud and money laundering.

The two former agents appeared to have operated independently of one another in allegedly stealing electronic money known as bitcoins from the same investigation.

Force was the lead investigator of one aspect of the multiagency and multistate investigation of Silk Road and its now-convicted operator Ross Ulbricht, who used the online name “Dread Pirate Roberts.”

Force worked undercover and convinced Silk Road’s operator that he was a drug smuggler with global underworld connections. Force, using the online pseudonym “Nob” communicated with the Dread Pirate Roberts using “pretty good privacy” encryption software and obtained hundreds of thousands of dollars in bitcoin payments as part of a sting operation sanctioned by his supervisors. But Force is charged with failing to report many of the communications and payments and funneling money received from Silk Road to private accounts.

Force is also accused of creating a new online persona known as “French Maid” without his supervisors’ knowledge. Force is charged with using the French Maid moniker to sell inside information to Silk Road about the investigation into the website. Court records accuse Force of stealing more than $200,000 from Silk Road during the federal investigation of the site.

Force is also charged with accepting a position as chief compliance officer for a bitcoin company while serving with the DEA. Force is accused of using his DEA position to seize a customer’s $297,000 account and transferring it to his private account. Force resigned from the DEA last year after a 15 year career, according to court records.

His attorney Ivan Bates didn’t return a phone call.

Original post:
Federal agents accused of stealing $1M in online currency during Internet black market probe

China’s Secret Offshore Banking – Video

 Offshore Banking  Comments Off on China’s Secret Offshore Banking – Video
Mar 192015
 



China's Secret Offshore Banking
Controversy over China's political families with secret offshore bank accounts. The elite in China have stole 4 trillion dollars from their people! To prove how vulnerable your personal…

By: Nepa Late

Excerpt from:
China’s Secret Offshore Banking – Video

SFTV: Bermuda Offshore Banking Part 1 – Video

 Offshore Banking  Comments Off on SFTV: Bermuda Offshore Banking Part 1 – Video
Mar 182015
 



SFTV: Bermuda Offshore Banking Part 1
George Roberts finds hard luck on the end of the line, while battling a big blue marlin in Bermuda's productive waters. Wahoo! Always a tasty treat, and Dean…

By: Nepa Late

Read the rest here:
SFTV: Bermuda Offshore Banking Part 1 – Video

The JetSetter Show EP 35 Josh VanDyk: Offshore Banking in the Cayman Islands – Video

 Offshore Banking  Comments Off on The JetSetter Show EP 35 Josh VanDyk: Offshore Banking in the Cayman Islands – Video
Mar 182015
 



The JetSetter Show EP 35 Josh VanDyk: Offshore Banking in the Cayman Islands
The Cayman Islands are a United Kingdom dependent territory, located between Cuba and Central America in the Caribbean. There are two international airports,…

By: Nepa Late

Read more:
The JetSetter Show EP 35 Josh VanDyk: Offshore Banking in the Cayman Islands – Video

Choosing an Offshore Bank | Offshore Banking – Video

 Offshore Banking  Comments Off on Choosing an Offshore Bank | Offshore Banking – Video
Mar 182015
 



Choosing an Offshore Bank | Offshore Banking
Global Reserve and Finance, Ltd is your solution provider for the many Offshore services you will need to simultaneously grow your net-worth and protect your…

By: Nepa Late

See the original post:
Choosing an Offshore Bank | Offshore Banking – Video

Offshore Banking after FATCA – Video

 Offshore Banking  Comments Off on Offshore Banking after FATCA – Video
Mar 162015
 



Offshore Banking after FATCA
Treasury Department regulations – WHO MUST FILE: (1) Each person who physically transports, mails, or ships, or causes to be physically transported, mailed, …

By: Nepa Late

Here is the original post:
Offshore Banking after FATCA – Video

Ras Al Khaimah Dubai | Advice On Ras Al Khaimah Dubai Offshore Banking – Video

 Offshore Banking  Comments Off on Ras Al Khaimah Dubai | Advice On Ras Al Khaimah Dubai Offshore Banking – Video
Mar 162015
 



Ras Al Khaimah Dubai | Advice On Ras Al Khaimah Dubai Offshore Banking
Ras Al Khaimah Dubai Ras Al Khaimah Dubai offshore bank accounts are special in that . Ras Al Khaimah | Ras Al Khaimah: The truth about offshore company and …

By: Nepa Late

Go here to see the original:
Ras Al Khaimah Dubai | Advice On Ras Al Khaimah Dubai Offshore Banking – Video

Offshore Banking Your Guide To Offshore Banking The Right Way 2 – Video

 Offshore Banking  Comments Off on Offshore Banking Your Guide To Offshore Banking The Right Way 2 – Video
Mar 162015
 



Offshore Banking Your Guide To Offshore Banking The Right Way 2
Offshore Asset Protection Secrets: Information, Services, and Resources Regarding Offshore Trusts, LLCs, an. To get your own copy of Guide to Banking in Sing…

By: Nepa Late

Originally posted here:
Offshore Banking Your Guide To Offshore Banking The Right Way 2 – Video

Offshore Banking: Bank Accounts & Assets Held In Foreign Countries Help Secure Private Wea – Video

 Offshore Banking  Comments Off on Offshore Banking: Bank Accounts & Assets Held In Foreign Countries Help Secure Private Wea – Video
Mar 162015
 



Offshore Banking: Bank Accounts Assets Held In Foreign Countries Help Secure Private Wea
Asset protection report here: Offshore banking is not illegal, it's not tax evasion, it's not about the overly-wealthy . In simple terms, a UCITS is a mutual…

By: Nepa Late

Read more here:
Offshore Banking: Bank Accounts & Assets Held In Foreign Countries Help Secure Private Wea – Video

Panama Financial Services License, Panama Offshore Banking, – Video

 Offshore Banking  Comments Off on Panama Financial Services License, Panama Offshore Banking, – Video
Mar 162015
 



Panama Financial Services License, Panama Offshore Banking,
Although a Bank License is very expensive, a Panama Financial Services License can be a cost effective solution. A Panama Corp. . Panama was once recognized …

By: Nepa Late

Read more here:
Panama Financial Services License, Panama Offshore Banking, – Video




Pierre Teilhard De Chardin | Designer Children | Prometheism | Euvolution | Transhumanism