Offshore
Banking: Reasons To
Go Offshore For Your Banking And Financial Needs
There is
a myth perpetuated by the press and the IRS that people only go offshore
for illegal purposes or to hide something through complex offshore
formations. This is completely false as there are many large legitimate companies
and business people who use offshore jurisdictions on a daily basis.
To
identify and list all of the reasons why one would go offshore would be
impossible. However, one can identify some of the major factors:
1. A
need for increased privacy and confidentiality. With faster, more powerful
computers integrating more databases together, and the dramatic increase
in government power since 911, there could ultimately be no financial or
personal privacy left in the US.
2.
Rampant litigation in the US. You now have a 1 in 4 chance of being sued
in the US if you earn over US 100,000 a year and the US has more law suits
than any country in the word.
3.
Protection from divorce or an aggrieved significant other, or as an
alternative to a prenuptial agreement.
4.
Provisions for your retirement and concern for the financial security of
your family and loved ones.
5.
Protection of a lump-sum payment with an IBC company, such as a personal
injury, workers compensation, or a no fault settlement.
6. A
solution for high-risk business owners, such as online casinos, poker,
pharmacy (RX companies) and tobacco merchants who wish to accept payments
in privacy offshore, and who can not secure merchant accounts at domestic
onshore US banks.
7.
Private and confidential trading for online brokerage and Forex traders
through an offshore account.
8.
Shipping companies that require free port zones for tax-free operations
(Panama being one of the best areas for formation).
The list
really is endless. With the advent of the Internet the world has indeed
gotten smaller and offshore banking has never been more relevant.
Richard Price may be contacted at
http://www.confidentialbanking.com
For more information about offshore brokerage accounts and the services
provided by Liberty Enterprises Inc., please visit
http://www.confidentialbanking.com
