Investors Moving Money to Swiss Banks Fearing U.S. Sub-Mortgage Crisis and IndyMac Bank Closure
Los Angeles, CA (PRWEB) August 5, 2008 -- "Many investors are placing part of their hard-earned money out of harms way into foreign banks that do not have exposure to the U.S. sub-prime mortgage crises," says Kevin Wessell, CEO of Offshore Company (http://www.offshorecompany.com/). Mr. Wessell is also the author of "Build Your Financial Castle" and a nationally renowned asset protection and investment seminar speaker.
IndyMac Bank was the second largest bank failure in U.S. history. The head of the FDIC recently said in a meeting in San Francisco that many more bank failures will likely occur in 2008. Could your bank be one of them? Many of the IndyMac deposits were not insured, thus, depositors will lose millions, if not billions of dollars. Many advisors say it may be time for investors to diversify internationally and put their money out of harm's way.
Europe has multitudes of large, safe, banks without exposure to the damaging U.S. mortgage disaster. In contrast, many U.S. banks are sitting on shaky ground. It is said that two banking giants, Washington Mutual and Bank of America - with the acquisition of Countrywide Financial - have substantial sub-prime exposure. This is not to say one should necessarily lose faith in these giant organizations. It is just to say that they are feeling the financial pain of the recent disaster. First National Bank of Nevada, based in Reno, Nevada, and First Heritage Bank of Newport Beach, Calif., were both shut down by federal regulators recently.
Which countries have the safest banks in the world? Switzerland and Sweden. So, how safe is your Swiss bank account (http://www.offshorecompany.com/banking/swiss) or your deposit in a Swedish bank? Switzerland depositor protection, for example, is governed by the Swiss Bankers Association's (SBA) Depositor Protection Agreement. Since July 1, 2004 it was also written into law in the Swiss Banking Act. The Act adds several additional requirements that have substantially strengthened depositor security in Switzerland. The revised Depositors' Protection Agreement covers all deposits and also applies to non-bank securities dealers. Protecting depositors is essential in maintaining public confidence in the Swiss banking system. In order to solidify this confidence, the SBA had drawn up a self-regulatory Depositor Protection Agreement with its member banks in 1984. This agreement guarantees that, in the event of a bank failure, depositors will rapidly receive their legally privileged claims. As an additional safety measure, Swiss law demands high capital adequacy. Swiss banks can therefore certainly be counted amongst the safest in the world.
In fact, the Swiss franc is considered one of the world's premier currencies with virtually zero inflation and has been historically backed by at least 40 percent gold reserves. Swiss banks are also known to have very sophisticated investment services and Internet banking.
"The first step in establishing a foreign account is to establish an offshore company, since many foreign banks will not open accounts directly with U.S. people or companies. The next step is to open the bank account in the offshore company name," states Mr. Wessell.
"It is very important to note that U.S. people are taxed on worldwide income. So, this is not a tax avoidance strategy, it is a fully-reported financial diversification and asset protection move. The U.S. and many other governments are cracking down on those whom use offshore trusts in an attempt to avoid paying taxes or hide money from their governments. Offshore Company ensures that its clients offshore trusts are set up and filed properly and meet government legal requirements," emphasizes Mr. Wessell.
Mr. Wessell's advice to those thinking about offshore banking. "Don't try setting up an offshore trust (http://www.offshorecompany.com/) by yourself, unless you are experienced with offshore banking. Use a professional service that understands the offshore banking laws as well as the laws of your government. Remember, the government will go after people that not only try to hide their accounts from the government, but those that make mistakes setting up the trusts or improperly file the paper work as well. Ignorance is not an excuse that will save you from governmental action and when you are dealing with a large amount of money and very stiff penalties for mistakes, why take chances."
For more information about offshore banking (http://www.offshorecompany.com/banking/index.asp) and offshore trusts,
call 1-800-COMPANY (1-800-266-7269) for a free consultation.
About Offshore Company
Established in 1977, Offshore Company serves businesses and individuals with creating offshore companies, offshore banking services, incorporating services, establishing LLCs (Limited Liability Companies), tax reduction strategies, asset protection and privacy programs.
Offshore Company is based in the Los Angeles area at 28015 Smyth Drive, Santa Clarita, CA 91355. Telephone number: 1-800-959-8819. The website for Offshore Company is: http://www.OffshoreCompany.com
About Kevin Wessell
Mr. Wessell is a nationally renowned business planning expert, seminar speaker and CEO of Offshore Company. He has over 17 years experience helping people incorporate businesses and quickly build corporate credit.
###
Related Articles:
Is a Home Money Making Business Opportunity Too Good to Be True
Let?s face it; the internet has made life a lot easier for many people, for many reasons The internet and home-based businesses go hand-in-hand, and as the internet grows and evolves, so too do the business opportunities for those wishing to make money online
Learn How To Earn Continuous Money With A Residual Income Business Opportunity
The majority of people earn what is called a linear income. However, many people have realized there is a better way to earn money. They have started earning a residual income. Everyone is looking for a way to make more money and a residual income business opportunity is a great way to do so.
How You Can Make Money Many Ways Online Business Opportunities
Every community has local businesses. The Internet is no different in that there's a place for businesses there as well. The advantage of online businesses over local businesses is speed... low cost start-up... reaching customers world-wide... work from your own home...You can start earning money with an online business for $100, or even less and sometimes at no cost. The Internet has no national boundaries. You can do business all around the world as easily as you can in your own neighborhood.
Affiliate Program Business Opportunity: An Opportunity That Will Make You Earn A Lot Of Money
It didn?t take long for the internet to become one of the largest income generating businesses today. Even regular people, such as yourself, will have a chance to make a lot of money by just using the internet.
You Can Make Money With An Online Business Opportunity
There are many times in life where you are going to want to make more money. Think about what you are doing now, and think about ways that you could make that just a little bit better for yourself. For instance, if you are able to, you might be just the right kind of person to find a great deal for a job that allows you to make lots of money, and that allows you to be the boss, as well. Many times they?ll be a make money business opportunity that comes out of nowhere, and if you are to take it and if you can do well, you might just find that you are able to make more money than you have ever dreamed of making.
An Internet Opportunity Does Not Normally Require A Lot Of Business Start Up Money
Starting a home based business is something many people dream of doing. They may have a great idea for a unique product or a revolutionary new service but there is one thing they lack. Without business start up money, your dreams of being your own boss may stay a pipe dream forever. There are different ways to find the funds needed to launch your new business and it?s simply a matter of knowing all your options.
Making Money With A Home Business Computer Opportunity
There are many ways to make money. Money is very important, and most of the time people are content with finding jobs that they can go to in which they can make money to sustain themselves and to take care of their family. However, many people are not happy with what they do for a living, and sometimes they would like the chance to find something else to do with their time in order to make money. Enter the world of working from home, and making money without having to go anywhere. There are many times that a home business computer opportunity could come your way, and you could be able to make more money than you ever thought you?d be able to make, just by picking one of these opportunities and making it into your own.
Small Business Financial Advice: New Online Tool Demonstrates Opportunities for Saving Money
Owner of GetMyTime, a web-based time tracking and expense tracking application, offers advice for small business owners.
Business And Earning Money Online Opportunity
We all have to ear money, right? Okay so most of us have to earn a buck. There will always be the Paris Hiltons of the world, who are fortunately blessed from birth. As for the rest of us mere mortals, an income of some sort is imperative. Our society is designed this way. Of course it would be sweet if we could all just have what ever we want, when ever we want. Then we'd have oodles of free time to travel and enjoy life. Now, back to reality. It's important to find something in this world that you enjoy doing. Chances are you will be doing it for 30 or 40 years. Fortunately the opportunity spectrum is not quite so limited these days. Take the current business earn money online opportunity. This is becoming all the rage.
SEO Ways To Make Money Online For Your New Internet Online Business Opportunity
Search engines are not the only way through which visitors get to your website. But I have read that most people say Google analytics for their sites show about 50 percent of visitors came from searches. The rest of their visitors came from referring sites with about 10 percent already knew their link. Optimizing your site for search engines, therefore is very important if you want to maintain a steady flow of visitors to your site. In this article we will discuss how seo can influence ways to make money online for your new online business opportunity.
Business Internet Make Money Online Opportunity System - 4 Superlative Business Models for You
Are you looking for business that makes money on internet which is called business internet make money online opportunity system?
How to choose the best new online business opportunity and make money while you sleep
The best new online business opportunity in my opinion is to create your own products and services. The first key is to identify a niche that you can work in. I would start by listing all my hobbies and interests - you have a great deal of work to do if you want to create the best online business opportunity and starting with your hobbies and interests will keep you fired up, passionate and keen.
Money Success in your Business Opportunity...
A solid business structure with a simple and proven system that will allow you to produce a six figure plus income and unlimited room for growth in the future. Sounds great, right? Unfortunately, many people don't have this in their business opportunity. Believe me I know, I was looking for a solution to my once undesirable life. Yes, I did find what I was looking for but it wasn't easy. I was looking for a lifestyle that would allow me to raise my children and have quality family time, create a six figure income and not put a ceiling on my professional growth. Is that to much to ask for? No, It's not. You deserve to live the American dream of being a successful entrepreneur. So know this, there are plenty of good business ventures out ther...
Internet Business Opportunity Make Money Online - Evergreen Lie Ever
Are you looking to start home based internet business makes money online?
A New Way To Earn Money: How To Find Business Opportunities
The most successful businesspersons in the world are not those who were born with money, or who came by it because they won the lottery. The most successful businesspersons are those who knew what to do with the money they had. They knew where to invest the money, how to make it grow, and how to use it to help other people and themselves. In other words, the most successful businesspersons, and perhaps the richest people in the world, know how to handle money because they know how to recognize business opportunities when these business opportunities came knocking.