Ayography

Archive for February, 2010

High confidence level is important before you go offshore. There are many ways of determining the trustworthiness of offshore companies and professionals. You may not get the right information from the wrong sources. For example, your local banker may not know enough about going offshore or he may discourage you from doing it. The reason is that he is making money by providing banking and other financial services to you. As money flows offshore, the earnings of domestic
banks will decrease.
Lending institutions and banks generally earn money on the arbitrage between what they pay their customers for the use of their money and what they charge others to rent money. Most onshore professionals may be tempted to make disparaging remarks about their offshore counterparts as an act of self-preservation. They want to keep your business. Asset protection experts also warn of asking government officials who have a hidden agenda of abusing the enforcement of property forfeiture laws to raise revenues for their departments. Moving your assets offshore will make them unreachable to officials who wish to seize your assets for forfeiture purposes. Traditional safeguards you
have practiced over the years in selecting local professionals should give you enough information about the trustworthiness of offshore companies, Your confidence or “comfort” level will be bolstered if you get referrals from reputable professionals and consultants. Verifying these referrals is needed. Due diligence efforts must be exerted before funds are transferred to offshore accounts. People who promise high yields on offshore returns on your investment should be shunned. Offshore promoters who offer an enticingly low price or flat fee for taking you to the wide blue yonder should be declined without batting an eyelash.