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| Offshore Banking Is Not Evil! |
| It Is Privacy & Security! |
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| Most people haven't the foggiest idea of what Offshore Banking is, they simply accept the distortions they read in the media and assume that Offshore Banking is some form of criminal activity. Or that it is too risky, illegal, immoral, or unethical. Very few people, including both those who condemn it and those who promote it, really KNOW what offshore banking is. So...before we go any further...lets define Offshore Banking. Then YOU will know what the term means. WHAT IS OFFSHORE BANKING? To the depositor an Offshore Bank is ANY BANK OUTSIDE THE COUNTRY IN WHICH THE DEPOSITOR LIVES. In other words, any bank outside the US is an offshore bank, if you are a resident of the United States. If a U.S. resident maintains an account of any kind in a bank of Canada, that bank is an offshore bank for that account holder/depositor. And, the same is true for a Canadian having an account in a U.S. bank. Any time you have money deposited in, or invested with, a bank in a country outside of the country in which you live and work, you are "Banking Offshore", even if that bank is just across the imaginary borderline. Any bank situated in the country where you live and work will be referred to as a "Domestic Bank". WHY THE CONFUSION? ALL BANKS use the same channels (exchanges, clearing houses, etc.) to facilitate the movement of funds internationally and/or domestically. Therefore, since all of the banks in the world are indirectly connected through their correspondent and inter-bank relationships, there is no real confusion arising from the transacting of banking business. IT IS NOT ILLEGAL TO BANK OFFSHORE... The U.S. DOES NOT and WILL NEVER have a law forbidding the taking of money out of its country. WHY? No country that depends upon international commerce for its existence can write such a law without destroying its own economy. And, if you will notice, the U.S. has consistently and continuously had an international trade deficit; which simply means they "buy" more internationally then they "sell". If any country had a law forbidding or restricting the movement of money outside its country, they would have NO international trade. Companies overseas would not be able to buy U.S., etc., goods because they wouldn't have any U.S. dollars, and companies in the U.S. would not be able to buy goods overseas, because the companies in those countries wouldn't be able to accept U.S. dollars. Therefore, you, as a resident of your country, may legally move your money anywhere in the world you want. There is NO RESTRICTION on the amount you move, where you move it, or how you move it. The ONLY REQUIREMENT imposed on you by the U.S. government is that you must REPORT any movement of cash or certain monetary instruments out of that country of $5,000 or more. If you've ever been on an international flight out of the U.S., you were given a form to complete that asked if you were carrying cash or bearer form negotiable instruments over $10,000 in value. If you read the complete form, it told you that it was NOT ILLEGAL to have the money with you, or to take it out of the country, but it was illegal not to report it. REPORTING REQUIREMENTS... How many times have you been told that, if you send a deposit of more than $10,000 to an offshore bank, you MUST report it to the government? THAT'S WRONG... The law (P.L. 91-508, 31USC5316) requires ONLY the reporting of the transportation of "currency or certain monetary instruments" in an amount exceeding $10,000. You may move as much money as you want offshore, at any time, WITHOUT REPORTING IT TO ANYONE, as long as you don't send "currency or certain monetary instruments". USING AN OFFSHORE ACCOUNT LEGALLY... Anyone who holds a Checking or Savings Account in a U.S. bank may, legally, move that account to any other bank, anywhere in the world (offshore). MYTHS & FACTS.... MYTH: Offshore Banks aren't regulated, so you run the risk of losing all your money. FACT: Nothing could be further from the truth. Every country in the free world has laws, rules and regulations governing banks and financial institutions. MYTH: Offshore Banks are not insured by the F.D.I.C. FACT: Some of them are but, thank God, not that many. But, the vast majority of offshore banks are insured. For the most part, offshore banks are "self-insured". That means those banks maintain a liquidity factor equal to 100% (or more) of their public deposits. For every $1 held in public deposits, those banks have $1 (or more) in liquid assets with which they can cover any depositor demand. Self-insured offshore banks are actually more secure than F.D.I.C. insured U.S. banks. The reason being, F.D.I.C. insured U.S. banks are allowed to maintain a liquidity factor equal to 10% of their public deposits. (Ever wonder why the U.S. has more bank failures each year than any other country?) Which would you feel more secure dealing with? A U.S. bank that has 10 cents in cash for every dollar on deposit? Or, an offshore bank that has $1 in cash for every dollar on deposit? MYTH: Offshore Banks aren't as big or strong as U.S. banks. FACT: Of the largest and strongest leading banks in the world only one is located in the U.S. MYTH: Offshore banking is only for people with a lot of money. FACT: Today, an offshore savings or checking account can be opened with a minimum deposit as low as $500. MYTH: Opening an offshore account is complex, and you can't get your money back when you need it. FACT: Opening an offshore account is no more complex than opening an account with a money market fund (or ordering through the internet online), by mail. Getting your money back is just as simple. Not only would you benefit from an offshore account as a consultant for Overseas Business Consultants but you could gain big tax advantages for any business you presently are engaged in as well. AS A CONSULTANT FOR OUR COMPANY WE MAKE ALL THE ARRANGEMENTS FOR YOU TO MAKE BIG MONEY TAX-FREE OFFSHORE. You simply have a one time out of pocket investment, in yourself, of $60 and we set you up with a turn-key business that will easily earn you more than any other business you can get into for the same amount of investment. Send your name and a message, "I want to be a consultant" and we will get you started ASAP! To get going click on contact on the side of this page. |
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