Offshore Banking – Fiction Vs Fact

FICTION: Offshore banking can’t be that good because they can’t really pay the high interest rates they offer. If they could really pay those rates then U.S. banks would try to be competitive and have the same interest rates.

FACT: Examine closely the financial statements of any U.S. Bank. You will see that their “gross” profits against customer deposits can range from 25% to 40% — but — they have laws written in stone to limit the interest amount they can pay customers on their deposits. The U.S. banks place their earnings into unnecessary frills and non-productive expenditures like fancy buildings etc., while offshore banking facilities don’t do this and share their profits with their customers.

FICTION: Offshore banking isn’t regulated, so you are at risk of losing all money deposited with them.

FACT: The truth is that every country in the free world has regulations, rules and laws governing financial institutions and banks. Those regulations, rules, and laws, however, are much less restrictive than the “protectionist” U.S. banking regulations, rules, and laws and allow the offshore banking industry better opportunity to earn much greater profits for their investors and depositors.

FICTION: Offshore banking facilities are not insured by the F.D.I.C.

FACT: Some of the banks are but not that many. If they are, they must comply with the same protectionist banking regulations and rules as all the other F.D.I.C. insured banks. But, the majority of offshore banking facilities are insured; one way or another.

Depositor insurance programs similar to the F.D.I.C. program have been established in some countries, so that the banks in those countries have their deposits insured. Independent insurance companies insure the deposits of offshore banking facilities in other countries AND unlike the F.D.I.C., insure 100% of the banks deposits; not just those under $100,000. (By the way, some of the banks in the U.S. insure their deposits with independent insurance companies and many banks in the U.S. are not F.D.I.C. insured)

Offshore banking is “self-insured” for the most part which means those banks have a liquidity factor equal to 100% (or more) of the deposits on the books. Those banks have $1 (or more) in liquid assets for every $1 held on deposit. Therefore, there is no bank run because they can cover any depositor demand.

Self-insured offshore banking is actually more secure than F.D.I.C. insured U.S. banking. Why? Because the F.D.I.C. insured U.S. banks are permitted to maintain a liquidity factor equivalent to approximately 10 percent of their public deposits. (Is it any wonder why more U.S. banks fail each year than in any other country?)

Which kind of bank would you feel more safe having your money in? An offshore banking institution which as one dollar in cash for every dollar on deposit, or a U.S. bank which as ten cents in cash for every dollar that shows up on the deposit statement they give their clients?

FICTION: Offshore banking isn’t as big or strong as U.S. banking.

FACT: Of the strongest and largest big banks in the world (in assets), one bank ONLY is located in the United States:

Here are the safest offshore banks in the world, according to a ranking done in 2007 after examining their total assets in US dollars. This ranking is compiled from balance sheet information included on AllBanks.org

1 UBS AG Switzerland 2 Barclays UK 3 The Royal Bank of Scotland Group UK 4 Deutsche Bank AG Germany 5 BNP Paribas SA France 6 The Bank of Tokyo-Mitsubishi UFJ Ltd Japan 7 ABN AMRO Holding NV Netherlands 8 Societe Generale France 9 Credit Agricole SA France 10 Bank of America NA USA

2008/2009 UPDATE AFTER THE FINANCIAL COLLAPSE OF 2008

Germany’s largest bank, Deutsche Bank AG, reported a fourth quarter loss of about $6.3 billion. A year earlier, the bank posted a profit of about $1.3 billion (1 billion euros), Bloomberg reported.

Royal Bank of Scotland is expected to post losses of as high as £1.7 billion.

Bucking the trend is a bank not even on the list above and that bank is Standard Chartered bank which is expecting to post profits of 1.3 billion pounds. I have a contact who can help you open an account at this bank for your company if you desire to do so. The account would be in Hong Kong.

Another bank I know about is rated AAA by an independent rating service and if you are not from the U.S. or if you are from the U.S. and have a foreign LLC or IBC to open the account with then you can deposit $15,000 and get involved in their borrow low and deposit high program which has earned depositors as much as 100% per year on their deposit. It is easy to open an account there.

FICTION: Offshore banking must not be very good, or more facilities would advertise their services in newspapers and magazines in the U.S.

FACT: Offshore banking in general is restricted by law from advertising in magazines, newspapers, radio and on T.V. unless they come under the same protectionist rules and regulations that are placed upon U.S. banks. Knowing that, you should be cautious about doing business with any offshore banking facility that publicly advertises in the U.S. media. Because you can be very sure that they have sold-out to the U.S. banking establishment and that establishment will end up selling you out to those who make the rules.

FICTION: Offshore banking is only for the wealthy.

FACT: About 25 years ago, that may have been true. But I know of about three offshore banking facilities that will allow you to open an account for as little as $500. One of these is in the Asia, another in Europe, and another in Latin America.

FICTION: Opening an account at an offshore banking facility is too difficult, and it is very difficult to get a withdrawal when you need it.

FACT: Opening an account at an offshore banking facility is easy because you just follow the instructions they give to you. Getting your money out only requires a request that you fax or email with an attachment included.

This article is governed by international copyright laws and is governed by the laws of Ezine Articles. Violators of their rules will be punished to the fullest extent possible.

Read More

A Beginners Guide To

Essential Aspects of Franchise Tax Status

Paying tax is an obligation that individuals and corporations of a certain state must honor. It is through tax payment that a nation is able to raise funds to undertake government projects. Taxes are a major source of government spending. There are various types of taxes that must be paid by individuals. In Texas, there is a certain type of tax called the franchise tax. The following are some of the things you need to know concerning franchise tax.

Franchise tax is a type of tax in Texas which is charged on entities that are either doing business in Texas or they were formed in Texas. This kind of tax is imposed on such entities as a way of paying for the privilege of doing business in Texas. The payment of franchise tax gives you the right to conduct your business activities in the state of Texas. You also need to know that all businesses are supposed to file franchise tax reports. This is necessary when the business is paying franchise tax or not.

When operating in Texas, you are supposed to confirm your franchise account status so that you know if you have the right to do business in Texas. The status of your account could be active, forfeited, eligible for withdrawal or termination, not established, franchise tax ended, or franchise involuntary ended. Your status becomes eligible for withdrawal or termination if your business entity has satisfied all the Texas franchise tax obligations to be able to file for withdrawal or termination with the Texas Secretary of State. Your right to do business in Texas can also be forfeited by the Secretary of State. Your entity’s status can read not established if you have not done the franchise tax questionnaire. The status can read franchise tax ended if your business has stopped doing business in Texas or your business has stopped existing in Texas. You are supposed to request for a certificate of account status from the Secretary of State. You should also get a tax clearance letter.

It is also vital for you to know that not all entities are eligible for franchise tax payment because some are not subject to the payment. Some of the entities that have to pay franchise tax in Texas are limited liability companies, corporations, joint ventures, business associations, professional associations, partnerships, trusts, savings and loan associations, professional corporations, banks, among other legal entities. Entities that are not supposed to pay the franchise tax include unincorporated political committees, real estate mortgage investment conduits, particular grantor trust, certain unincorporated passive entities, sole proprietorships, general partnerships whose direct owner is made up of natural persons, entities exempt in Tax Code Chapter 171(subchapter B). You can go to the Secretary of State website to find out if your company or entity is subject to franchise tax.

It is also vital for you to make sure that you understand how the franchise tax amount is calculated. This will assist you know the exact amount you are supposed to pay to the state of Texas. You should be aware of the fact that franchise tax is calculated using your business margin.

News For This Month:

If You Read One Article About , Read This One

Read More

Looking On The Bright Side of

Benefits Of Hiring A Tucson Kitchen Remodeling Service

When you own a home, you must find ways to improve it at all times. You will not be short of options when out determining the best way to enhance the home. Having so many options can make the task of determining the best home improvement project a bit overwhelming. However, one can quickly determine the best project depending on the aspect of their home that they need to improve. When you need to enhance the gardens, lawns, paths, and other elements in your outer space, you can engage a landscaping or hardscaping company. In the case where one wants to improve the appearance of their house, they can spend on renovations, or even hire a painting contractor to give the house a fresh look. However, if you wish to improve the interiors, you will need to invest in remodeling services.

There are different reasons why a homeowner will want to spend on remodeling services. When there are elements in your home that need to be repaired, you can rely on a remodeling company. A remodeling project will also be the best choice when you need to introduce new appliances to your interiors. In most cases, one will be targeting the bathroom and kitchen when they spend on a remodeling project, considering that these are the most active parts of any house. Keep reading and learn the benefits of hiring experts to handle your kitchen remodeling project.

When you outsource a remodeling project to the experts, you will always get the best results. One of the leading reasons why homeowners opt to handle a remodeling project on their own is the fact that they want to save some cash. Other homeowners will handle a remodeling project on their own because they are DIY-enthusiasts. The main downside of handling a remodeling project on your own is the fact that you do not have the skills, equipment, and even expertise to handle the project and get the best results. On the other hand, the experts are trained, qualified, and certified to handle the remodeling project. This means that they can redesign your kitchen and make improvements to ensure that you get your dream kitchen design.

Hiring a kitchen remodeling service will work to save your time and money. When a homeowner wants to handle a kitchen remodeling project on their own, they will need to create some time from their busy schedule and take charge of the project. Most persons are only free during weekends, and this means that it might take longer for them to complete the project. On the other hand, if you make the right choice and hire a kitchen remodeling service, you will have the project completed within the set timeframe. The experts also know where you to get different appliances and features to install in your kitchen. When you need to replace kitchen cabinets, plumbing fixtures, or even electrical appliances, the experts know where to get them at a discounted price, and thus hiring them can save you some money.

What I Can Teach You About

– My Most Valuable Advice

Read More

Short Course on – Covering The Basics

Importance of Selecting a Holistic Veterinarian

Pets are normally considered to be part of the family by their owners and hence making sure that they are comfortable and that they are well taken care of is what pet owners tries to do. The best veterinarian has to be chosen by a pet owner as there are times that their pet will need a regular check-up or when they are not feeling well they will need to be treated. There are many holistic veterinarians that are there and hence for a person that wants to choose a holistic veterinarian, they have to ensure that they do select the best one. Experiencing the benefits below can be when the best holistic veterinarian is chosen.

Holistic veterinarian are beneficial for a person since they normally practice holistic medicine that involves treating patients using natural methods. The diet, genetics, stress, environment and past history of the pet is also checked by the holistic veterinarian as they not only check at the symptoms like the way the regular veterinarian do. A person can thus be assured that their pet will be well treated when they take them to a holistic veterinarian because with all the information that they get to gather they will be able to treat the whole problem and not just fix the complaint that a person has of their pet.

Natural substances such as herbs, vitamins and even food are the ones that are normally used by the holistic veterinarian which is beneficial since they are more natural and safe. Pets usually respond well to the treatments that the holistic veterinarians gets to use as they have little or no side effects and they are safe. A person can be assured that when they do take their pet to a holistic veterinarian that they are going to live longer and will feel better. Preventive medicine and keeping the body healthy and in balance is what the holistic veterinarian focuses on in as much as the holistic medicine gets to treat many different conditions.

Holistic veterinarian have not only undergone the traditional medical training that other regular veterinarian have undergone but they have also gone through additional medical training and hence it is beneficial to choose them as they are very knowledgeable. Holistic veterinarians therefore are much more aware of what the pet needs in order to get well soon and hence they are in the best position to treat well the pet. It is beneficial for a person to also get to choose holistic veterinarian as they also practice complementary medicine most of them and hence they can also use traditional diagnostic tests such as lab work.

Lessons Learned About

Learning The “Secrets” of

Read More