Offshore Articles from Panama Legal
Offshore Asset Protection and Offshore Banking articles
- Central American Nations Agree on New Currency
Executive Summary – Friday (12/05/08) the leaders of the Central American nations met for the 33rd Summit of the Central American Integration System. They issued statements in response to the world financial crisis. One of the measures they intend to implement is the start of a new currency. We assume this is to be called the Central American Dollar and will be tied to a basket of other currencies to avoid fluctuations that a single currency is subject to. The Central American nations are also going to standardize their passport. It is expected that the new passport will have the... - Lichtenstein Agrees to USA Tax Information Exchange
Executive Summary – The country of Lichtenstein agreed to exchange information with the USA for tax purposes. There are some simple qualifying terms that must be met before the information gets released to the USA. It appears that the USA citizen must have undeclared assets in Lichtenstein and be under investigation by the USA authorities. It is not an automatic exchange of information. Previously the USA had to prove tax fraud, which is near impossible without the bank records in Lichtenstein. The new agreement goes into effect on Jan 1, 2010 and has a look back period covering the 2009... - US Job Losses Mounting
Executive Summary - In the month of November the USA lost another 533,000 jobs, bringing the total to 1.9 million jobs lost this year. The unemployment rate was 6.7%, the highest it ahs been since October 1993. September, October and November job losses were a total of 1.3 million, which is the highest three-month job loss figure since world war two. In one-day alone (Thursday 12/04/08) job losses were announced by: Avis, Credit Suisse, Viacom, AT&T, and Dupont totaling 23,000 lost positions. Citi announced job cuts of 50,000 earlier in the week. If the automakers do not get their bailout... - UK HM Revenue and Customs Cut 3,400 Jobs
Executive Summary – Here we go. Now the government enforcers of the tax and customs laws are getting laid off to the tune of 3,400 jobs along with the closure of 90 offices. It is expected that up to a total of 25,000 jobs will be disappearing in the near future along with the closure of up to 200 offices. Discussion – The very people that were collecting high taxes along with their attitude towards the people that pay their salaries who they are supposed to serve are now losing their jobs. Imagine going to look for a job... - Some Things to Look For in 2009
Shopping Malls Closing – Shortly after Christmas we will start to see shopping malls of varying sizes declare bankruptcy and close. Shopping malls are driven by the larger “anchor” clients. These are the stores that would bring in the foot traffic. And these stores are closing in massive numbers. The little guys cannot keep a mall going. They do little or no advertising. This will hit the banks hard since shopping malls are very costly. It is doubtful anyone will come along to buy them soon. The banks will have to do maintenance on the malls, carry insurance and maintain... - Lichtenstein Ending Bank Secrecy: 12/04/08
Executive Summary – Lichtenstein made a deal with the USA to drop bank secrecy in any case where the USA “suspects” bank secrecy. The USA would be entitled to bank information when they are investigating a suspect in a tax avoidance case. Of course every USA citizen and Green Card holder is going to be a suspect. Previous to this agreement the USA had to prove tax fraud before getting into the records. Normally they go on a fishing expedition to get the records lacking any evidence or proof at all and then after getting the records they are sometimes... - Safes for Storage of Money, Gold, Diamonds and Documents
Introduction – This is a brief discussion on safes with the intent being to store cash, bonds, bearer shares, bearer CD’s, bearer bonds, gold, precious stones and the like. This is not intended for commercial use. Types of Protection – Safes offer basically three types of protection against fire, burglary and explosives. Explosives are a tool used to affect a burglary but they are very different from torches, drills, saws, crowbars, hammers, axes and other conventional safe burglary tools. Fire Protection – You want your safe to have at least one hour of UL rated fire... - Retail Businesses Closing in the USA: 11/22/08
Introduction – This is a summary of the major retail businesses closing their doors in whole or in part in the USA. The USA will have a very black Christmas. Nothing we heard Obama say would lead us to believe that things will return to prosperity anytime soon, or if at all. Foreclosures are high, 50 million people have no health care insurance, one out of six houses is in foreclosure, credit card debts overdue 90 days or more are at an all time high, and bankruptcies are way up to all time record highs, government spending is soaring and... - Obama, Offshore Tax Havens and the Impact on Non-Americans
Introduction – USA President Elect Obama has been touting efforts to close 34 offshore tax havens. His latest list did not include the countries we work in, but did cover many havens in EU and the Caribbean. The subject here would be can he do this, what can he do and how will it affect the non-Americans that use offshore tax havens around the world for corporations, trusts, foundations, banking, IBC’s and stock brokerage service. What Does Obama Want To Do? – He wants to shut all the offshore tax haven jurisdictions down. This... - Obama Is In, Now What for the Offshore World?
Introduction – Obama is the President Elect of the USA. He is not yet the President. He has made threats regarding shutting down offshore banking, privacy etc. He can threaten all he wants; he has no power, authority or jurisdiction over any offshore jurisdiction. He does have power of American resident and Citizens. Offshore Anonymous Corporations, Foundations, Trusts, and IBC’s – Obama wants to do away with all sorts of privacy regarding corporations, trusts, foundations, IBC’s etc. Once again he has no control over foreign countries and their laws. This is a fairly... - Buy Gold Anonymously
Introduction – We are in financially trying times. The question is how to preserve wealth. Of course the answer involves diversification. Diversification means putting your assets into a diversified mix of investments. This can include real estate, antiques, collectables, stocks, bonds, futures, holding currency from different countries in bank accounts, precious stones, and of course last but not least Gold. The question would be how to buy the gold anonymously and store the gold securely and anonymously. Advantages of Gold – Governments cannot just make Gold like they can print money. There is currently no currency in the world that... - How To Move Money Offshore
Introduction – We are going to discuss the movement of funds from your own country or another country to an offshore bank presumably in an offshore tax haven. We are not going to discuss any illegal scenarios. Why do People Move Money and Assets Offshore – Many of you will first think taxes. Well you are wrong. How many dictatorships are there in the world right now? Quite a few. There are ruled by kings who are in office for life. They can confiscate funds at will from anyone in the kingdom. How many... - Obama and the Tax Havens
Introduction – Well Obama is the President Elect of the USA. He has threatened to shut down the offshore tax havens repeatedly. He is interested in playing a role of a socialist Robin Hood. Obama also wants to end any and all financial and banking privacy and create an increase in the sharing of tax information amongst different countries. Obama also wants an end to all corporate, trust and foundation privacy. What a guy! Does Obama Have the Power to do this? – Absolutely not. He will be President of the USA is... - Offshore Tax Advice
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