Continued from page 1
There is a great deal of information and MIS-information around about offshore accounts, so following list is just an outline of a few of issues you'll need to consider as you research whether or not offshore banking is for you.
· Are professional staff fluent in English? (You may need to communicate, and this IS about your money, after all!)
· Are there tax treaties with US in place? (Read fine print.)
· What are privacy or secrecy policies of institution you are considering? (Many of them are NOT ALLOWED, by law, to share your information with, for example, government of your country).
· Does institute provide credit cards or merchant accounts? (Many foreign financial institutes do, and include a debit card, as well).
· Does it require you to have an internationally incorporated company in order to open an account?
· If so, does institution provide 'shelf companies' to choose from? (Quite often, you can simply sign some forms to become proud owner of a new, legal company, which enables you to bank in that country).
· Are Internet-based transactions available? (You'll want to be able to monitor your account online - to check current status of investments, transfer funds, or just track your accumulating wealth)!
Yes, it is possible to do business in a SECURE global environment - and enjoy tax breaks, and perhaps even a healthy return on your investment - all from comfort of your home in good ol' U.S. of A.!
Merrill Noreen has investigated offshore banking options for Western entrepreneurs. Visit his website at http://www.life-spring.com/caruba/caruba.html or email carubagold@mail.com for more information.