Get in Shape to Go Offshore

Welcome to a special edition of A-Letter! Today's comment is by Chuck Dolce, our on-the-scene reporter at the Offshore Advantage Academy on Paradise Island, The Bahamas.

Dear A-Letter Reader,

What a day! Today we moved on to the nuts and bolts of what you need to consider when selecting offshore havens and setting up the entities that will benefit you the most.

Erika Nolan kicked off the festivities again today detailing the ins and outs of setting up an offshore banking presence.

The Key Factors in Choosing an Offshore Jurisdiction

First you need to determine the country (or countries  -  it's allowed) that meet your offshore needs.  Once that's done, you'll need to select a bank. What are the key considerations that? Well the first  -  and possibly most important  -  is one that most investors never consider, probably because it's so obvious. Do they speak English?

When dealing with a financial institution that's half way around the world, clear communication is vital. After all, you'll be discussing your money. Some banks can have a staff of 100 or more but maybe only one or two people who speak fluent English. Think about it, a simple oversight but one that could be incredibly expensive to you in the long run.

Erika gave her personal checklist of how to evaluate a potential offshore bank  -  including looking at a bank's accounts, minimums and whether a bank has a U.S. branch. And why wouldn't you want that? Let me explain.

One of the main benefits of using a private offshore bank is the protection they offer. Banks with U.S. branches are subject to local banking laws and can offer considerably LESS in the form of that protection. Legal judgments in the U.S. may have to be honored by the institution even if your capital resides in a foreign country. That's a trap to avoid for sure.

The real depth of the information is all covered in the Offshore Advantage Academy recordings. Your inside track to the entire Offshore Advantage Academy. Reserve your conference audio recording now and all the information that we heard here is yours for as little as US$127. But to get all this information at this low price you have to reserve your copy NOW  -  before the conference ends here in the A-Letter on Monday.

And Now a Word from the Top Tier Havens

After Erika came experts from three of the top tier havens  -  Switzerland, Austria and Denmark - who each explained why Western Europe offers so much more than the average American investor ever dreams.

Thomas Fischer Manager of International Client Relations with Jyske Bank in Copenhagen reminded us that offshore assets should always be held in foreign currencies. If not, you're not protected from risks to the greenback. Plus, there is also the potential for the banks dollar deposits to be held "on shore" in a U.S. branch.

Rob Vrijhof of Weber, Hartmann Vrijhof and Partners (WHVP) in Zurich, set out to clarify a few things about Swiss havens  -  including why it's a bad idea to trade U.S securities from an offshore account.

And finally, Andrew Griebl, Director of Private Banking with European American Investment Bank in Vienna informed us that there are no kangaroos in Austria. (Apparently that question has come up!)

But aside from a lack of marsupials, there is one huge advantage of banking there  -  the Austrian banking law. The law stipulates the strictest confidentiality in bank/client communications. Any talking out of school by your financial institution means certain jail time. They take your privacy very seriously.

How do they get away with this when the U.S. has been launching attacks on banking laws around the world? You can hear the whole story, plus all the other critical offshore investing information in the audio conference recordings. Like I've said, they're only US$127 and cover the whole four days of sessions. Every speaker. Every presentation. If you couldn't be here, don't miss out on these recordings. You'll hear all the details including:

• Which country hasn't had a bank failure since 1939,
  
  
• Which countries have banking privacy laws written into their constitutions.
  
  
• Some of the more incredible alternative investments that can make you wealthy AND give you true diversification  -  far outside even international stocks or bonds.
  
  
• How the U.S. rates on the Bank for International Settlements minimum liquidity ratio requirement versus other havens around the world. I promise this one will shock you!

International Law Made Easy

The afternoon was dedicated to the investment structures that are available to you and me.

Bob Bauman, the Legal Counsel for The Sovereign Society, led the way and a self-proclaimed victim of three strikes. He's a conservative, a lawyer and a former U.S. Congressman. But to hear Bob speak, you wonder what he was ever doing in the law or politics. Bob shoots straight from the hip.

So why do you need a legal entity? According to Bob, in recent years the IRS, the government and the SEC have decided that you and I are too stupid to safely invest offshore. They have imposed so many requirements on foreign banks that many are now reluctant to deal with individuals. Thank you Washington. They will however deal with legal entities.

What is an offshore entity? The two most important entities for individuals are Trusts and Private Family Foundations. For business entities you'll want to hear all the details of International Business Companies (IBCs) and Limited Liability Corporations (LLCs) and the advantages of each.

The Ancient Entity

Trusts date back to the Roman Empire and can be used for almost any purpose you can imagine, as long as it's legal. They offer tremendous protection and privacy. And that's important because thanks to the PATRIOT Act, true privacy has become a thing of the past in the United States.

What's the magic of a trust? Basically when you set up a trust you surrender an asset to someone who manages it (the trustee) for the benefit of someone else (the beneficiary.) If your assets ever come under legal fire, every penny in your trusts is completely protected. Why? Because these trust assets are no longer yours. The assets are legally property of the trust. Many of our attendees have onshore trusts, but their offshore cousins Asset Protection Trusts (APTs) are only valid in certain jurisdictions. And APTs offer an even greater measure of protection and privacy.

All the details can be yours for US$127 when you order the Offshore Advantage Academy recordings. I'd write it all down here but I'd be at my laptop until next week. Just reserve your copy of the complete audio set for the one-time special price of US$127 and you can have all this information for yourself.

You'll get everything I've mentioned here plus you'll learn about:

• Tax implications of trusts: It's pretty straight forward. The trust creator report each year increased value and beneficiaries have to report income. Not a lot of tax benefits involved with trusts. But anything they lack in tax advantages, they more than make up for in privacy and protection in other areas...
  
  
• Revocable versus irrevocable trusts  -  and which one is much more secure?
  
  
• When is the only time you should consider establishing a trust  -  and when establishing one can get you in serious trouble?
  
  
• What durations a trust can take, and which might be best for you?
  
  
• Which countries are best to set up a trust in and which civil law country still recognizes trusts.
  
  
• The key differences between trusts and Private Family Foundations and the best (and only) countries where family foundations are available. (I'll give you a hint  -  I'm sitting in one of them...)
  
  
• Why creditors can't attack your private family foundations or hold your private family foundation liable for the debts of the creators OR beneficiaries?

The flood of information went on and on. Way too much for me to detail here. But you can get it all. The recordings of every speaker, the charts, the graphs - all the presentation slides. I've only been here for two sessions and I think they're nuts for offering these recordings at these low prices.

Four Patented Principles of Wealth

After Bob we heard from Management Consultant David Melnik who outlined his four principles of wealth:

• The second hardest thing to do is make money
  
  
• The hardest thing to do is keep your money
  
  
• Never allow greed to replace fear and
  
  
• Retain your privacy AT ALL COSTS
  
  

David is an absolute fount of knowledge and it was evident during his presentation to a packed house. So do you know why it's critical that anyone with any amount of wealth should set up an offshore trust? David will tell you.

Michael Chatzky, President of Chatzky & Associates, took the podium to continue the buzz about offshore trusts. For example, that funding from a foreign country to a U.S. beneficiary has no reporting requirement for the creator? They are not subject to lawsuits, probate or a host of other potential legal entanglements.

And finally Ramses Owens, International Attorney-at-law, wrapped it all up with his presentation (and a brief dance lesson) on the huge investment opportunities AND tax benefits that can be had in Panama. Panama is one of the few countries that don't have a tax information exchange treaty with the U.S.? Your business is your business in Panama!

These recordings are not to be missed. In fact, I'd if you only heard today's sessions they would easily be worth the full audio price. Like I said, I think they could be selling this conference recording for double the price or even more. And after the conference that's what you'll be paying for them.

Click here now to reserve your copy of The Sovereign Society's Offshore Advantage Academy recordings. You can only get them at these rock bottom prices until after this conference wraps. And of course your satisfaction is guaranteed. They're a US$127 investment in making you a better more secure investor.

Until Monday...

Cheers,
Chuck Dolce
Your Offshore Conference Insider