Showing results for tag "offshore banking"
Best-selling author Doug Casey discusses why expatriating from the West will become much more difficult in the coming years – and why it's more necessary than ever to do it.
Internationalization assures that you are not “owned” by any one particular government.
Cyprus is not an isolated situation. The damage wreaked by monumentous debt is systemic and it has taken place throughout the First World and beyond.
If you are a US person who has a financial interest or signature authority over foreign bank accounts, securities accounts and/or other financial accounts you probably have to report them to the US government on multiple forms. The penalties for failure to file are onerous.
The events in Cyprus have given us an opportunity to re-learn some valuable lessons.
Geoff is a Canadian expat who is retired and lives in Cyprus. He shares with us what is happening on the ground there and how he decided to make the Mediterranean island his home.
The people of Cyprus had a very crude awakening to the issue of political risk on Saturday morning when they discovered their government and a bunch of EU bureaucrats conspired in secret to rob their savings accounts. It should serve as a wake up call for us all.
An international consultant discusses how to open an offshore bank account and whether it's worthwhile to pay someone to do it for you.
An overview of the best offshore banks used for business or personal purposes by an international consultant.
A couple of items in the news last week provided illustrations of political risk – i.e. the ability of governments to seize assets within their jurisdiction at the flip of a switch. It is the risk that you take by locating anything of value within any single jurisdiction, whether it’s your business, your savings, or yourself.
As we all observe the Great Unraveling, the slow slide into the second half of the storm that some of us regard as the Greater Depression, an increasing number of people, particularly in Europe and the US, are asking how this will all play out. How will I know when it is time to get out?
The Argentine boom/bust cycle is happening again, as it does nearly every decade. This time is no different, despite what Keynesian economists might say.
Fitzroy Drkavic comes from an Austro-Hungarian family that has lived through some of the worst the world has to offer. Now, he sees some of the same factors that caused so much hardship for his relatives emerging in his new homeland of Canada - and has decided to do something about it.
IM readers know the need for diversification, including maintaining an overseas bank account. But where to begin? Today, Colleen Murphy offers step-by-step instructions on how to select the right bank for you.
A recent Asset Diversification thread at the IM Forum addresses the choices and difficulties involved in sending funds overseas from the US. In today's piece, Linda Card explores some of the possible legal ramifications of such transactions. As she reveals, we may not be fully aware of the costs of our innocent actions.
Today we feature a good news, bad news kind of story. On April 23, Uruguay agreed to formally end bank secrecy with respect to Argentine tax investigations. For those Argentinians used to storing (often undeclared) capital in Uruguayan banks, that's not welcome news. Not much better for Uruguay either - all the foreign capital that will flee to other, more private jurisdictions is virtually guaranteed to negatively affect the local economy. However, it could be great news for expats looking to spend time in Uruguay.
About a month ago, I was in Switzerland and had an opportunity to share a meal with the team at BFI - a Zurich-area asset management and consulting company specializing in helping foreigners access the Swiss banking and insurance system. Over lunch, I got to know Scott Schamber, the Head of their Client Advisory Team. It turns out Scott is an American expat who first moved to Switzerland 10 years ago after falling in love and getting married to a Swiss national.
Most people are truly unaware of the opportunities that lie outside their borders. The opportunities to grow both personally and professionally, but also from a strictly dollars and cents point of view. But before you can profit, you need access. That's where a good international broker comes into play.
The criminal finance system that is in place around the world has just lost another participant and, if enough bricks are removed, the wall may come down completely and we will all be able to see the true nature of the beast within. Ann Barnhardt of Barnhardt Capital Management, wrote the following points as part of an open letter to friends, clients and industry colleagues when she closed operations at her firm on November 17, primarily due to realizations made as a result of the MF Global collapse.
Over the past two weeks, we've been speaking with Frank Suess, CEO of the Swiss-based wealth planning and management firm, BFI Capital, as well as the leader of the increasingly popular gold storage program Global Gold. Let's continue...
Today, we're going to continue the interview we started last week with Frank Suess, CEO of BFI Capital, Swiss-based wealth planning and management service, as well as the leader of the increasingly popular gold storage program Global Gold. In this interview, exclusive to International Man, Frank will share details of the company's services including Global Gold, as well as a wealth of knowledge over decades of experience in the industry. Let's continue...
Exclusive interview with Dan Gallapoo aka "Doberman Dan", a serial entrepreneur and professional copywriter who specializes in building online businesses that can operate anywhere in the world without his direct daily involvement.
“Is it advisable to open an account in a small bank in Switzerland, rather than one with branches in other countries of the EU due to the 30% with-holding tax?"
We receive quite a few messages from our readers – questions, comments and feedback about our service. A few days ago, I received the following message: “I’m brand new at this [internationalization] and not quite sure where to start. There is so much to do and it is all overwhelming. Any suggestions?”
“We have a Canadian bank account at Royal Bank. What we are interested in opening is a brokerage account in Europe or Canada and the institutions we have contacted tell us that they cannot do so for ‘US persons.’”
"With all things being equal; does simply having a Swiss bank account create a greater chance of IRS audit...”
At its core, International Man is designed to be a community of like-minded people who come together and converse on all topics related to the internationalization process. One member is Steve Abramowicz, a Seattle-based wealth advisor to high net worth individuals across the United States. He has also internationalized himself and his family to a great degree.
If everything you own is held in your own name in your own country, then you are not merely exposed, you are vulnerable absolutely, to whatever decisions the government might make about how you should behave and who gets the wealth you've earned.
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