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March 2011

  • Capital Preservation
  • HIRE ACT, Part 2:  If Privacy Isn't Your Top Concern, Will Your Transfers Still Be Affected?
  • Gauging Risk: Are You Driven by Reality, or Perception?
  • Choosing An International Banking Center:  Banking Laws and Beyond
  • Belize Banking Score Card: How Do We Rate?

Capital Preservation

Simon Black

How would you feel if a gang of criminals broke into your home, stole your most valuable possessions, and then went on national TV to claim it was for your own good?

My guess is that you would be pretty angry.  Yet this is essentially what our central bankers and political leadership are doing right now.

Last year, at a picturesque resort in beautiful Wyoming, Fed chairman Ben Bernanke met with his global counterparts, including the Bank of England’s Mervyn King, the European Central Bank’s Jean-Claude Trichet, and Masaaki Shirakawa of the Bank of Japan.

The financial world was attentively looking for indications of what these men are planning, after having exhausted every monetary policy tool at their disposal.

Tags: 
Financial
economy
Capital
Investor
Simon Black

HIRE ACT, Part 2: If Privacy Isn't Your Top Concern, Will Your Transfers Still Be Affected?

Joel M. Nagel, Esquire

Editor's Note:  In the February 2011 issue of Hemispheres, international business attorney Joel Nagel wrote about provisions in a 2010 jobs bill called the HIRE Act that could affect your ability to move funds abroad outside the U.S.  The provisions require both U.S. and foreign banks to withhold 30 percent of any transfer to foreign financial institutions that don’t meet United States standards for information sharing, and remit that percentage to the Internal Revenue Service (IRS) as a tax payment.  To get the payment refunded when you file your U.S. tax return, you have to show that the funds transferred were already taxed.

Tags: 
Hire Act
Law
IRS
Bank
Joel M. Nagel

Gauging Risk: Are You Driven by Reality, or Perception?

Michael Cobb

Risk and the perception of risk are two different things.  Many people think their decisions are based on reality, when actually they are based on false perceptions of risk.

For example, we have been led to believe that the traditional stock markets are safe, because they are large institutions ... run by really smart people ... regulated and overseen by various government agencies in charge of protecting us. 

Tags: 
Risk
Investment
Development
Financial
Michael Cobb

Choosing An International Banking Center: Banking Laws and Beyond

Peter Zipper

Interest in international banking is growing, as people around the world are looking outside their own national borders for investment, travel, and new life experiences.

The growth in international travel, coupled with the increasing use of the internet to make a living or help manage businesses from afar, have led to growing use of international banking and international trusts to facilitate more mobile lives.

Some people who never intend to live outside their home country also open international bank accounts and trusts, simply to relocate or diversify their financial affairs, rather than their lives.

International Banking Centers Serve Legitimate Purposes

Tags: 
Bank
Law
Financial
Tax
Investor Business
Peter Zipper

Belize Banking Score Card: How Do We Rate?

Peter Perez-Valle

Belize is a leading Central American international banking jurisdiction.  In addition to commercial banks that serve local customers, Belize has developed a small but growing community of international banks, serving customers from around the world in a variety of currencies.

Legislation such as the International Business Companies Act of 1990, the Offshore Banking (Amendment) Act of 2002, the Money Laundering Prevention (Amendment) Act of 2002, and the Trust Act of 1992 have officially established Belize as one of the leading international banking jurisdictions worldwide, incorporating the most secure features of international instruments instituted in Hong Kong, Panama and Cayman.

Tags: 
Belize
Bank
Caye International Bank
Financial
Peter Perez-Valle