Offshore banking involves opening a bank account outside the country where you live. People open these accounts for various reasons. This includes protecting their assets against lawsuits, creditors and judgments, as well as tax savings and business expansion. We consistently update this article. Our intention is to give you the best guide to discuss how, where and why open an offshore bank account. We also discuss laws, definitions and meanings. We will review basic to advanced information in the free online book you’ll see below. From the offshore accounts you can have the best deal.
The banking services in the western world are in a bad state. It is a fact. Here’s what Global Finance says, from this writing, from the safest banks of 30 in the world. None were located in the United States. Only from the top 50 five financial institutions were based in the US. In addition, four out of five US banks on the list are simply small regional agricultural banks. There were six AAA rating offshore banks. Of the six, none were based in the US.
The best asset protection plan breaks your assets from your own country; and its courtrooms. To do this, it is important to keep your account in an offshore LLC or trust. The privacy rules in Switzerland plus the property protection law of the Cook Islands or Nevis make that possible.
Another reason behind Switzerland’s popularity as a wealth protection bank is its security as a low-risk investment. The political and economic climate in Switzerland is stable. The Swiss Bankers Association (SBA) regulates the banks. Switzerland does not levy taxes on interest, dividends or inheritance, as a Swiss company that does not earn a profit. Swiss legislation also requires high capital adequacy. Since 2004, the SBA has revised the depositor’s protection agreement. This agreement guarantees that in the event of a bank failure the depositors will still receive their legally privileged claims.
USA: Deep in debt
Think about it. The US is the country with the most debt in the world. No other country comes close. Of the four countries with the largest national debt, the US has twice the debt of number two UK and about three and a half times more than number three and four France and Germany.
Thus, the above opening statement is not an eye-catcher. It is purely a fact-based on solid evidence. In addition, the US rating was lowered not long ago by Standard & Poor’s, the most respected rating agency for companies and governments in the world. American people have no laws in their home country that prohibit offshore banking. So to get started or for more information, you can use the consultation form or call the professionals.
Some of the former bankruptcy in the US does not meet bank security standards. For example, the Bank of America Corporation recently received a message that it failed the stress test. The test concluded that the bank was $ 33.9 billion dollars short of the number of reserves it needed to endure another two years of economic difficulties. Even the agency that should ensure American banks, the FDIC itself, is far too short. They do not have the amount of money required by law to ensure the American banking system.