OPENING A PANAMA OFFSHORE BANK ACCOUNT
HAS MANY BENEFITS
In the original publication of this information in 2014, we had forecasted that during the year 2015 the international economic landscape will change dramatically. Back then, we didn’t know the exact date but we knew that, historically, such events happen overnight and take 72 hours (usually over the weekend) to catch the majority unprepared. The information in this page will give you the facts that you need to understand and verify before taking immediate action. First, ask yourself these questions:
1. Can we afford to have our bank account frozen or our assets seized because we violated a law that we didn’t know it even existed?
2. Should we trust our money with someone whose debt is 47 times higher than his assets?
3. Is it likely for the US dollar to continue being the only currency used for international trade transactions?
4. How much of our money are we losing every year if we live with an 8% inflation while our bank is only paying interest of 1%?
5. Is it probable to be the one out of the 10 Americans who, every year, are hit with a lawsuit and risk losing their assets because they cannot afford to engage in costly litigation?
6. Is it immoral to pay less taxes legally (1)?
7. Should we have a plan B if the government restricts us from sending money abroad?
8. Is it better to be a few months early or one day too late?
9. Could there be a Better Economic Future ahead?
1. How to Avoid Government Seizures
In 2008, the US government passed yet another law authorizing the IRS to seize assets from the children of parents with debts to the government. This law was concealed within a bill for farmers and went unnoticed by the politicians who voted for it. According to NBC News, in the USA there are 40,000 new Laws (2) voted into effect each year by the Federal government alone. This extraordinary number of Federal laws makes it obvious that our elected officials don’t really know what they are voting. If we add the new Laws passed by the 51 states plus the territories and the thousands of the US cities, we see that we are exposed to a myriad of opportunities for government looting.
This problem is not unique to the USA
Canadian authorities have been known to freeze bank accounts for simple code violations. A lot of these code regulations have been arbitrarily set by bureaucrats. Furthermore, the Canadian Revenue Agency (CRA) has been authorized to enforce one of the stickiest laws pertaining to the worldwide taxable income of Canadian residents. They don’t enforce it for now so the rich emigrants from China, Russia, the MENA countries and Iran will continue bringing their assets to Canada without realizing that they are being watched and will soon be audited.
A lot of these emigrants may not be aware that because their dependents are living in Canada, their worldwide income is also taxable in Canada although they are working abroad to earn such income. It should be noted that in 2012, CRA (the Canadian IRS) has recruited 4,000 new agents (Canada has only a population of just over 30 million) who are trained to use the latest technologies to monitor the paper trail of financial transactions and be on call to schedule audits as soon they get orders to enforce existing laws.
This is only the beginning. The indebted governments are scrambling for funds from any source that they can access. Individuals with more than $100,000 on deposit are primary targets by governments in desperate pursuit of funds to cover their runaway deficits. Confiscating bank deposits of the people in Cyprus was a test imposed by the big EU countries. There was no other logical explanation since this small European island had a booming financial and banking sector holding trillions of dollars on deposit and having hardly any exposure to mortgages or commercial loans. The Cyprus test went without a hitch for the looting Banks and governments but the residents lost their money. Could we be next?
2. How to Avoid Bank Failures
Many clients are asking for a safe, big bank like Citi, HSBC or Deutsche Bank. They hold a false belief that the developed nations with the big banks are too big to fail. In reality, things are exactly the opposite. According to ABC News, World’s Big Banks have an exposure to Derivatives of $710 Trillion (3). The article comments that “… for example JP Morgan’s total assets are US$1.5 trillion while its exposure to derivatives is US$70 trillion, or 47 times the assets …”. According to the Investment Watch, the top five US banks (JP Morgan: $70.4 trillion, Citigroup: $63.5 trillion, Bank of America: $55.7 trillion, Goldman Sachs: $53.5 trillion and Morgan Stanley: $46.7 trillion) have a total exposure of nearly $300 Trillion (4). Derivatives are bets with our money that are not based on any real value and, therefore, represent one more bubble of unimaginable proportions.
Another indication of the bank solidarity are property values and the percentage of mortgaged homes. Banks in countries like Canada, are considered historically safe, yet their future may not be as bright. Considering that the 50% decrease in oil prices (in 2015) combined with a housing bubble could cause massive mortgage failures given an excessive (70%) consumer credit card debt. More than two thirds of Canadians live from paycheck to paycheck and the banks cannot withstand, without a bailout, a decrease in property values and a construction slowdown.
In the offshore sector, the banks are loaded with cash deposits because their primary purpose is to guard their clients’ money. Offshore banks don’t generally have much exposure to mortgages or commercial loans because they are located in tiny countries with small populations whose survival and reputation depends on being responsible custodians of the money and privacy of their foreign clients.
3. Why you Need a Multi-currency Account
We are observing an ailing Euro, the overprinting of US dollars and a 20% devaluation of the Canadian dollar during the last part of 2014. There is a real need to keep our money in a multi-currency account that will allow us to quickly switch our deposits online to the currency of our preference.
4. How to Get Higher Interest Rates at a Secure Bank
Most high tax nations are desperately trying to stimulate their economies by keeping the cost of lending low. This is causing their banks to offer interest rates on deposits at 1%, which is lower than the reported rate of inflation. In the offshore world, there are tax free countries with greater political stability, cleaner economies and stronger banks offering 7% or even higher interest on deposits.
5. How to Protect yourself from Lawsuits
In most countries, but especially in the USA, the risk of civil litigation is very real, even in between family members and spouses. An offshore bank account makes it very difficult to execute judgments and in most cases impossible, unless there are serious criminal charges. Foreign governments and courts don’t have the right to order immediate freezing of bank deposits or seizure of other assets that are held offshore.
6. Use an Offshore Bank Account to Legally Reduce Taxes (1)
With our money in an offshore bank account, we can keep our privacy because offshore jurisdictions have no reporting requirements. Lack of such requirements allows for record keeping flexibility that ends up in less taxes without breaking any laws. During audits, the tax collection agencies of high tax nations, do not have the same arbitrary authority to dispute legitimate expenses as they do in their home territory. This even holds true for the USA that has specific tax and disclosure exemptions that are applicable only to offshore income and bank accounts.
7. How to Keep your Freedom to Travel, Invest Abroad and Conduct International Business
According to Washington Times, recently there is a mass exodus from Europe and North America (5) of productive citizens, who don’t depend on government hand-outs but generate their own fortunes online. They are joining millions of affluent pensioners who have already left and are raving about the opportunities to invest freely, protect their income and assets from confiscation while enjoying carefree life styles that are unaffordable in their tax burdened home countries. These trends have the high tax nations preparing for capital and foreign exchange regulations. Like Venezuela and many other countries, soon we will not be able to freely conduct our international business without the government bureaucracy making our decisions on trade terms and currency exchange conditions.
8. Can we Still Open Offshore Bank Accounts Legally?
Last year it was much easier to open offshore bank accounts for everyone. Now, most banks don’t accept US residents or citizens unless they come with special recommendations and very high initial deposit amounts. Many other banks no longer accept new clients of any nationality unless they can make a personal visit to the bank or they have very high initial deposit amounts that can be verified as legal. But we still have a few solid banks that accept even our US clients and almost all other nationalities.
9. Three Approaches to a Brilliant Economic Future
The true challenge is to multiply our income and assets not to merely protect them. During these exciting times worldwide investment, business and life altering opportunities abound. A highly controlled investment or business that we take for granted in our familiar home environment can make us millionaires in other parts of the world. But if we can’t even trust the experts in our own home base, how can we make an investment or start a business in a place where we’ve never been and may not even speak the language?
With the uncertainty in the European Union, the upcoming Canadian elections of 2015 and the US presidential election of 2016, it will be increasingly difficult, if possible at all, to open offshore bank accounts. The time to go offshore is now.
The first step to going offshore for asset protection is almost overdue. The good news is that it only requires inexpensive services for its immediate implementation. Once we take this important first step, doors will open to a Bold New World that most people have never known it exists.
THREE DIFFERENT APPROACHES TO A BRILLIANT ECONOMIC FUTURE
We asked three individuals of widely diversified backgrounds the question we all need to know:
How can we create a better Future for ourselves, our Families and our offspring when our bankrupt governments are turning against us while serving the interests of corporations that have to maximize profits regardless of the social costs?
1. The Internationally acclaimed Investment Guru quoted Baron Rothchild:
The time to Buy is when there is Blood in the Streets
2. The Innovative, Transnational Entrepreneur gave a 3-step recommendation:
Cover our Back and don’t Waste your time Fidgeting or Focusing on Fear. Team Up using Smart Contracts (6) and AI Systems (7) to manage and control Participants in any Venue. Shoot for the Stars and Manifest Quickly before the Opportunity is Taken.
3. The Indian Swami (it means Sage and is not a sandwich) half-closed eyes and said:
We must turn the Swamps into Springs that Start Rivers
We thought about the Swami’s answer and came up with one possible interpretation. The spring was given to the earth without discrimination or expectation of returns. It starts the river that flows freely creating beauty, life and abundance but sometimes it also ends up as a swamp that can be protected and used for commercialization.
We believe that all these viewpoints are valid and a combination of all three will be a great option.
We’d love to have your comments bellow to share your experiences and enrich our interpretation of the three Approaches to a Brilliant Future.