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Three Profitable Offshore Opportunities - Banking, Forex, And a Foundation

By Geir Holstad  

The world is changing and it is changing fast. Who would have thought that small Asian economies would be leading the way out of the worst recession in seventy-five years? Who would have thought that a country like Peru would be buying dollars to alter the exchange rate and help prop up the dollar? It is a brand new world where perhaps the best place to set up a banking operation is in New Zealand although an NZOFC cannot be called a bank! Still, a tried and true solution to offshore asset management such as a Panama Private Interest Foundation remains as a profitable and secure offshore solution along with offshore banking, and opening a Forex company.

More and more people are moving their assets, their talents, and themselves out of their nations of origin and into a busy, industrious, and profitable offshore world. The very wealthy have banked in tax advantaged jurisdictions for years. They have taken still take advantage of offshore asset protection and privacy vehicles such as trusts, international corporations, and foundations to shield their wealth from prying eyes and reduce the tax consequence of inheritance. However, it is the surge of expatriates from all over the globe moving and doing business all over the globe that opens the doors to profitable offshore investment opportunities.

Three profitable offshore opportunities are starting a bank, forming an offshore Forex company, and using a Panama Private Interest Foundation as a holder of tangible assets, businesses, and bank accounts. There are many opportunities in today's fast moving world. We choose these three for their combination of opportunity and security.

Offshore Banking in the 21st Century: an NZOFC

There are many offshore banking jurisdictions. There are also a number of jurisdictions where an individual or corporation can obtain licensing and set up business offering banking services. In choosing a jurisdiction for offering offshore banking services the individual or corporation will want to search out a democratic, politically and economically stable, business friendly country. A nation where English, still the universal language, is spoken is a plus. The nation will need to have at least adequate infrastructure to support the business and ideally will have first rate telecommunications, transportation, and support services.

A nation that offers a first rate offshore banking opportunity and also fits the necessary criteria for a successful offshore operation is New Zealand. This former British Crown Colony is located in the Southwest Pacific to the East of Australia. Its population is mostly descended from British immigrants and is mostly English speaking. The country is well governed with little or no corruption and its educational standards are as good as or better than the USA, Canada, and Great Britain. This is a business friendly country known for its innovative spirit.

Of our three profitable offshore opportunities we put the New Zealand Offshore Financial Company (NZOFC) at the top of the list. This type of company is not governed by New Zealand banking law nor regulated by the Federal Reserve Bank of New Zealand. There are no capital reserve requirements in setting up an NZOFC. The law in New Zealand is quite specific in that an NZOFC cannot be called a bank or intimated to be a bank. However, such a company can take deposits from anywhere in the world outside of New Zealand. It can pay interests, make loans, market investments, manage trusts, and provide virtually all services that a bank might offer. Anyone from any country is free to apply for a license to operate an NZOFC.

A Profitable Foreign Exchange Opportunity

So, the Chinese are trading the Yuan versus the Malaysian Ringgit. The Euro is periodically in free fall as Greece and the other PIIGS reveal more sovereign debt. A flight to quality sends folks out buying Yen, US dollars, and Swiss francs. So, how do you trade foreign exchange in this hectic and uncertain world of international finance? There is certainly money to be made in Forex trading. There is, however, steady money to be made in running a Forex brokerage offshore.

There are a number of jurisdictions still where it is possible to obtain a Forex license. Because of the variable degrees of infrastructure development, business friendliness, and political stability in some offshore jurisdictions it is wise to consult someone with experience to help choose a jurisdiction, obtain licensure, and initiate operations. There are a number good places from which to do business, depending up individual preference. There are also a few disadvantageous jurisdictions to be avoided. Starting out with good advice in this arena is wise.

The point of setting of a Forex company is that the fees and commissions are steady income. While trading can be profitable it can also be a drain on capital. This is the old argument about selling picks and shovels when everyone else is prospecting for gold.

Handling Offshore Opportunity in the Most Advantageous Manner

The third offshore opportunity we mention is the Panama Private Interest Foundation. This is not directly a business opportunity but it can be a "holder" of businesses, bank accounts, and assets such as art work, yachts, airplanes, jewelry, and more. A Panama Private Interest Foundation has no owner. It does have beneficiaries. Such an entity is often used in place of a trust to pass on inheritance with minimal tax consequences. The foundation is set up in such a way and with instructions so that beneficiaries change when the first beneficiary dies. Especially for those with concerns about asset privacy and security this type of foundation will allow for individuals to benefit from assets, businesses, and bank accounts without having their personal names or other details in any public registry.

A common use of a Panama Private Interest Foundation is in an integrated offshore asset protection solution containing offshore businesses, bank accounts, and other assets. Typically the foundation is the lynch pin in this solution as the holder of assets for the use and benefit of designated persons, the beneficiaries.

These three profitable offshore opportunities are available to anyone interested in pursuing them. It only takes an email or phone call to an experienced individual or company to get the ball rolling.

[http://www.userbancorp.com]

An offshore formations and banking specialist working for several companies regarding offshore structures, formation of companies, foundations, banks and financial institutions in several jurisdictions, including provision of government issued financial licenses.

Working for User Bancorp Ltd, which is providing private and corporate accounts, merchant accounts, offshore companies such as Belize IBC's (International Business Company), Panama corporations and foundations, wire transfer services, managed funds/forex, credit- debit- and prepaid card issuing.

We also offer co-ownership and shares in different investment programs such as real estate investment in profitable jurizdictions like Panama, Belize and Spain. Certificate of Deposit/Term Deposit accounts available up to 9 % p.a.

Contact me on e-mail: geir.holstad@userbancorp.com

Article Source: https://EzineArticles.com/expert/Geir_Holstad/544779

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Mortgage Guidelines - Acceptable Down Payment Sources

By Michael Zuren PhD.  

If you apply for a mortgage when you purchase your next home, there will likely be a required down payment. Depending on the mortgage program that you apply for, the minimum down payment can range anywhere from three to five percent of the purchase price of the house. Although, some mortgage programs allow for gift funds or down payment assistance. These programs typically have minimum credit score standards and income limitations. If you do not qualify for down payment assistance or have a family member to gift you the down payment, you will have to use your own funds. Your lender will review your asset statements for at least the two previous months prior to applying for the mortgage. If there are any large deposits in your asset accounts, they will have to be thoroughly documented to show the source of the funds. If the funds cannot be documented, the lender will not allow them to be used as part of the down payment. In addition, if you have paid off any significant debt within the past sixty days, you will have to show the source of the funds used to pay off the debt. Once again, if any recent deposits cannot be documented as your own funds, the lender may deny the loan.

The following list is a brief review of acceptable sources for the down payment on a mortgage.

• Cash and Unsecured Debt - Any deposits that cannot be documented, originated from cash, or borrowed on unsecured debt, such as: credit cards or personal loans cannot be used towards the purchase of a house.

• Checking and Savings Accounts - Your lender will require and review your last two months checking and savings account statements. If there are any large deposits made on these statements, you will be required to document the source of these funds. Acceptable large deposits include, but are not limited to: paychecks, reimbursements, tax refunds, sale or liquidation of asset accounts, and transfer of funds from one account to another. These large deposits will require a thorough paper trail to document the source of the funds. Unacceptable sources of large deposits include: cash, unsecured loans, and credit card withdrawals.

• Retirement Accounts - If you are using funds from a 401(k) or retirement account as part of your down payment, you will be required to document the withdrawal from the account(s) as well as the deposit into your checking or savings account(s).

• Gifts - Gift funds are allowed on some loan types depending on your credit score. Typically, gifts are only acceptable if they are from a family member. They require a fully completed gift letter that shows the relationship of the donor. The gift letter should also include their contact information and the amount of the gift. The person gifting the monies will have to show their most recent bank statement documenting the withdrawal of the gift funds. In addition, the lender will require a copy of the gift check and a printout of your bank statement showing the deposit and new balance.

• Down Payment Assistance - There are many sources for down payment assistance. Prior to entering into a purchase agreement, it is important to discuss your options with your lender to make sure that you qualify for down payment assistance based on your income and your credit scores.

• Sale of Personal Items - The sale of personal items is usually not an acceptable source for a down payment, unless you can thoroughly document the following. Ownership of the item that you intend to sell for the down payment with an original bill of sale, a copy of the check when you sell the item, and a signed bill of sale which includes the purchaser's contact information.

When applying for a mortgage, there are strict guidelines for documenting the source of the down payment. It is in your best interest to thoroughly discuss all your options and your down payment sources with your lender prior to entering into a purchase agreement.

Article Source: http://EzineArticles.com/expert/Michael_Zuren_PhD./1966583