Part One: The Open How you identify yourself, your company and problem. And how you place that problem before debtor. Don’t ask him when he’s going to get around to paying you or why he’s putting you off. Otherwise you’ve made your move too soon and you’ll be at a disadvantage right off bat. Instead, put debtor in position of having to explain himself. Say something like “What are your intentions toward this bill?”

There are definite and strong advantages to placing some of your hard-earned money in offshore bank accounts:

First of all you get protection against your government. Nobody knows what a government will do next, anything is possible. But, unlike funds held in your home country, wealth stashed offshore is greatly protected against any negative actions your government might take, or legislation it might introduce, tomorrow.

Secondly, you get protection from predators and parasites. Offshore wealth is shielded from attentions of asset hunters. Avaricious litigants, thieves, fraudsters, conmen, blackmailers (disgruntled ex-business partners and ex- spouses) who all seek to pinpoint, target and eventually attack individuals with visible wealth. These sharks have weapons at their disposal, and they use them. They routinely run asset searches to identify just who has what worth targeting. But offshore assets are safe. Asset searches won't uncover offshore assets, these remain totally invisible and safe from attack.

Thirdly, with an offshore bank account you are insured against unknown events tomorrow might hold. You never know when you might be mighty glad of offshore cash reserves. If circumstances at home make it impossible or unwise for you to stay, or impossible to access your domestic funds, your offshore funds provide you with a financial lifeboat.

"Not all banking havens are suitable, safe, or secure."

Finally, you can rest secure in knowledge that you have a secret nest-egg. You can build and grow a private stash of cash beyond gaze of anybody in your home country.

The first thing you need do, to enjoy benefits of an offshore bank account, is to select a good offshore banking haven where you can open your accounts. This is easier said than achieved. You aren't short of choice, from Bahamas to Vanuatu, Cyprus to British Virgin Islands, Switzerland to Cayman Islands. Countries world over are in market for, and only too happy to accept, as much foreign capital as they can get their hands on.

However, you must bear in mind that not all banking havens are suitable, safe, or secure. Some are excellent. Others are ticking time bombs. If you open an account in wrong country, it can prove very costly in more ways than one.

What you need to do is to find out how particular banking havens measure up before you lodge any of your cash or assets there. This will require you to perform some research and investigation. This is well worth doing, and thoroughly. Mistakes avoided at this early stage save time, trouble and money further down road.

I suggest you measure quality of any haven which interests you by subjecting it to my Ten-Point Suitability Test. Satisfy yourself on all points crucial to your particular requirements.

1. Location, Location, Location? Where is haven located? Do you want to visit your cash regularly? If so, is it convenient or practical to have it stashed in a banking haven thousands of miles away from where you live?

Can you access your haven by air - directly or indirectly? Is it a problem getting entry to your haven? Will you need to queue for an entry visa every time you want to visit?

Also, be aware that making regular, visible (visa records are a paper trail) trips to a known banking haven is like waving a red flag at any government snoop who might be taking an interest in your affairs and movements.

Give some consideration to time differences. Can you manage your financial affairs efficiently if it's midnight in your haven during business hours at home? Are you happy to wait up until early hours to speak to financial managers?

2. Do You Speak The Language? Effective, smooth-running financial management depends on fluent communication. Do bankers and professionals in your haven speak English or some other language with which you're familiar? You may need to discuss complex financial matters in technical detail. It could cost you dear if things are confused or compromised by language barriers.

3. How Easy Is It To Stay In Touch? Are there sufficient and reliable telephone and fax lines? Are email facilities available? Is airmail delivered quickly? How efficient is surface mail delivery?

If your banking haven is deficient in these areas, it may become difficult to maintain regular and instant contact with your advisors and account managers. Is this acceptable?

4. Is The Tax Situation Right For You? Ensure your haven provides exact tax treatment you need. Mistakes can prove expensive. Some havens impose withholding tax" on foreign-held bank accounts. Are you satisfied that this is fair exchange for benefits your account will deliver.

5. How About The Legal System? Are laws in your prospective haven based on English common law? Is judiciary of a high standard? Is it independent? Is Court system effective? Are there rules to resolve conflicts of law? Are banking regulations stiff? Or is there ample opportunity for a fly-by-night merchant to slip through nets?

Are banking services registered with regulatory organisations that uphold professional standards and procedures?

Satisfy yourself that haven has local laws and legal practices which provide adequate protection of your funds and investor rights.