If you want to get an offshore bank account, *consider visiting bank in person*. If you can, travel to country in question, and open a bank account there. You probably live near one tax haven at least. This especially applies if you are planning to deposit large sums; find out who you're dealing with!

NOTES:

1. Don't pay a middleman to open a bank account for you. See above.

2. Do not use services which offer bank accounts in Eastern European countries.

You are likely to be cheated, possibly by bank itself. Avoid Latvia!

3. Do not give anyone Power Of Attorney.

You can kiss your money goodbye. You may have legitimate reasons for not wishing to broadcast what you're doing. The problem is: *How can you obscure that you are owner of company, or bank account, without losing control of it?*

Don't get too clever, or too greedy.

4. Avoid web sites where:

The business address is a P.O. Box, or a 'Suite';

The site is on a free web host;

The site is badly translated into English;

You have sense you are dealing with Africans or Eastern Europeans;

The site has not been updated recently e.g. Copyright reads 2001;

They've only been running for a few years;

They offer a range of dubious products - second passports, citizenships, anonymous debit cards;

You cannot pay via credit card - it's much harder to get refunds on banker's drafts, Western Union and e-Gold etc;

They require you sign a confidentiality agreement, or you have sense you are entering quasi-legal or illegal territory.

Bogus offshore banking sites can threaten to report you to your tax authority if you question their methods. It's an old con trick; get mark involved in something illegal, then he can't go to authorities.

Offshore bank accounts and company formations are just like their onshore equivalents; there's no big mystery about them. If you want a company formation, contact a local registration agent, who speaks English, in country of registration. Then use another local agent to check what first one's done.

Open your bank account yourself.

One last thing: *don't think that because your bank account and company are offshore you can do business in your home country, and/or with fellow residents, and avoid taxes there*.

You'll find plenty of websites that'll purport to help you, right up until time you get a small brown envelope from your country's tax inspectors, inviting you in for a little chat.

About the author: T. O' Donnell (http://www.tigertom.net) is an ecommerce consultant and offshore banking adviser in London, UK.

Don't look for a home without being pre-approved. You will have much more negotiating power with vendor, and may be able to save thousands of pounds.

Get a full, professional survey. Human beings can be perverse; happy to spend £150,000 on a house after a half-hour viewing, but be-grudge spending £500 finding out whether it's worth buying in first place!

Find out true value of your home. Get more than one independent appraisal. Compare it with prices of similar-sized houses for sale in same area.

Start gathering documents. Provide your mortgage company with documents in good time; don't let your rate lock expire!

Verbal (oral) agreements are worthless. When buying or selling property, always get it in writing.

When you do get your mortgage, check your payments are correct - do mathematics. There's a one in ten chance you could be paying more than you should.

Review your mortgage regularly - this, and possibly remortgaging, will ensure you pay as little as possible in interest.

Finally, consider following advice from U.S. Department of Housing and Urban Development:

Be sure to read and understand everything before you sign;

Refuse to sign any blank documents;

Do not buy property for someone else;

Do not overstate your income;

Do not overstate how long you have been employed;

Do not overstate your assets;

Accurately report your debts;

Do not change your income tax returns for any reason;

Tell whole truth about gifts;

Do not list fake co-borrowers on your loan application;

Be truthful about your credit problems, past and present;

Be honest about your intention to occupy house;

Do not provide false supporting documents.

A mortgage is biggest financial committment most of us will ever make; worth spending a little time on, to get it right!

About the author: T. O' Donnell (http://www.tigertom.com/mortgages-uk.shtml) offers mortgage quotes, advice, an ebook and a mortgage calculator, in London, UK.