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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Friday, November 21, 2003 - Vol. 5 No. 138
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In This Issue:
* COMMENT: Offshore Bank Accounts.
* OFFSHORE: Bermuda Independence + Colonial Discontent. Barbados Growth. Russian Tax Haven Dies. UK Tax Targets. Hong Kong Boost.
* WEALTH: Rich Secrets. Corporate Tax Scandal. Bashing Tax Shelters. 47 Arrested in Alleged Forex Fraud. Dollar Falls to Euro.
* PRIVACY & RIGHTS: New FBI Powers. Bad Biometrics. Anti-Patriot Act.
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COMMENT: Benefits of an Offshore Bank Account
Dear A-Letter Reader:
An offshore bank account is not just a place for safekeeping cash. It also gives you the ability to trade freely and invest in foreign stocks, bonds, mutual funds and national currencies not available in your home country, especially for those living in the restricted U.S.
An offshore account is excellent for diversifying investments, plus taking advantage of global tax savings. You get instant access to the world's best investment opportunities, free of your home nation's legal restrictions.
You can use the account to purchase attractive insurance and annuity products not available in the US and some other nations. Tax savings may result from deferred investment earnings, capital gains or appreciation, rather than receiving ordinary income taxed at a much higher rate.
An offshore bank account offers opportunities to profit from currency fluctuations, easy ability to purchase foreign real estate, and earnings from higher interest rates. You also can trade precious metals and other tangible personal assets through foreign accounts.
Equally important is the stronger asset protection a foreign bank account provides. Cash offshore is better shielded from domestic law suits and claims of all kinds. Many tax haven nations don't honor foreign civil judgments and require re-litigation, an impediment sure to promote quick compromise. Haven nations' 1 or 2 year statutes of limitations also serve to cut down on claims.
If you link your offshore bank account with an asset protection trust or international business corporation, rather than in your own name, even greater asset protection can result.
Membership in The Sovereign Society includes an introduction to two of Europe's premier private banks, both with outstanding reputations, rock solid financial standing, and professional, English-speaking staffs. Society membership automatically opens your offshore bank account. Think about that -- then act!
That's the way that it looks from here.
BOB BAUMAN, Editor
PS: To learn how you can benefit from an immediate special offshore bank account by joining The Sovereign Society, click here: LINK: http://www.agora-inc.com/reports/SVS/WSVSCB14/
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COMMENT LINKS:
* Tax havens provide refuge for the tax oppressed.
LINK: http://www.free-market.net/spotlight/taxhavens/
* An Historian Looks at Tax Havens
LINK: http://www.lewrockwell.com/orig2/adams2.html
* EU Savings Tax Directive A Tax Cartel.
LINK: http://www.cato.org/new/05-02/05-30-02r.html
* Tax Rates, Tax Revenues and Economic Growth.
LINK: http://www.ncpa.org/studies/s159/s159.html
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* OFFSHORE *
BERMUDA SENATE UPSET BY ROYAL GOVERNOR'S REMARKS
HAMILTON: Relationship with UK as a colony is at issue. LINK:
http://www.theroyalgazette.com/apps/pbcs.dll/article?AID=/20031120/NEWS/111200074
* BERMUDA PREMIER SAYS INDEPENDENCE NOT DISCUSSED
At a meeting with UK Overseas Territories Minister. LINK:
http://www.theroyalgazette.com/apps/pbcs.dll/article?AID=/20031001/NEWS/110010071
* Bank of Bermuda head seeks to justify sale to HSBC. LINK:
http://www.theroyalgazette.com/apps/pbcs.dll/article?AID=/20031114/BUSINESS/111140073
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BARBADOS CONTINUES OFFSHORE GROWTH
BRIDGETOWN: IBCs, banks, exempt insurance companies. LINK:
http://www.barbadosadvocate.com/NewViewNewsleft.cfm?Record=15677
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RUSSIAN TAX HAVENS ABOUT TO DIE
Russia's domestic tax havens may have fueled legal backlash. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A63387-2003Nov19.html
* Moscow is the most expensive city in Europe. LINK:
http://english.pravda.ru/main/18/89/358/11315_Moscow.html
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UK TARGETS OFFSHORE BANK ACCOUNTS
LONDON: UK Inland Revenue pursuing offshore tax evasion. LINK:
http://www.telegraph.co.uk/global/main.jhtml?xml=/global/2003/11/17/fiinland17.xml&sSheet=/global/2003/11/19/fin_home.html
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CHINA REINFORCES HONG KONG FINANCIAL STATUS
Beijing throws a yuan lifeline to Hong Kong. LINK:
http://www.thisislondon.co.uk/news/business/articles/timid70787?source=
* HK, China sign pact for HK banks to do yuan business. LINK:
http://www.forbes.com/home_asia/newswire/2003/11/19/rtr1153054.html
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* WEALTH *
OFFSHORE SECRETS OF THE RICH NOW AVAILABLE
Hedge funds, investments, trusts, bank accounts can be yours. LINK:
http://www.money.telegraph.co.uk/money/main.jhtml?xml=/money/2003/11/19/cmrich19.xml&menuId=244&sSheet=/money/2003/11/19/ixfrontperson.html
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THE SCANDAL OF U.S. CORPORATE TAXES
There's a good reason US corporations go offshore; the US tax code.
LINK: http://www.cato.org/dailys/11-19-03.html
* The FRENCH government wants worldwide taxes. LINK:
http://www.freedomandprosperity.org/Articles/bna11-10-03/bna11-10-03.shtml
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U.S. SENATE HEARINGS BASH TAX SHELTERS
Probe: KPMG's Tax Plans Netted $180 Million
LINKS: http://accounting.smartpros.com/x41444.xml
http://www.washingtonpost.com/wp-dyn/articles/A59411-2003Nov18.html
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47 ARRESTED FOR FOREIGN EXCHANGE FRAUD
Traders, brokers actions go back decades. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A63588-2003Nov19.html
* Dollar falls to all-time low against euro
LINK: http://news.bbc.co.uk/2/hi/business/3282917.stm
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* PRIVACY & RIGHTS *
U.S. CONGRESS OKs BROAD, NEW F.B.I. POWERS
FBI administrative subpoenas for financial files approved.
LINK: http://www.nytimes.com/2003/11/20/national/20TERR.html
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BIOMETRIC I.D. CARD PLANS FLOUNDER
Technology not available to carry out ambitious plans. LINK:
http://www.signonsandiego.com/news/computing/20031119-0813-security-britain-cards.html
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LIBERTARIANS FIGHTING PATRIOT ACT
Enough of Bush, Ashcroft and their destruction of freedom. LINK:
http://www.newsday.com/news/nationworld/nation/ny-uslibs183548186nov18,0,6227230.story
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. *
Bob Bauman, Editor * Daniel Aponte, Jr. Research Asst.
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