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.
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
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.
Long the champion and beneficiary of free trade and the free flow of capital, the United States last year enacted legislation that a growing number of commentators and professionals believe could be the start of capital controls in America.
If you envision yourself investing internationally in the future, you have just under two years to prepare to transact international business without being turned away by foreign banks, or your having funds subjected to IRS withholding by banks handling transfers.
International business attorney Joel M. Nagel recommends the following strategies you can use to prepare for enforcement of the HIRE Act provisions that he outlines in this issue of Hemispheres.
What’s so appealing about this particular Caribbean island? It’s known for its stunning natural beauty that’s reflected by the surrounding azure sea. The east coast’s white sand beaches are fringed with swaying palm trees. From your hammock, you can watch the waves break on the world’s second largest barrier reef.
World-class scuba diving, fishing, snorkeling, sailing and water sports abound. Simply strolling the beach with your dog is a satisfying daily pleasure. But there are also many social activities if you prefer music, festivals, and socializing to swimming, fishing and walking.
Our view at Hemispheres has always been that life is richer – in every way – when you take advantage of all the opportunities the world has to offer.
In 2011, Hemispheres is expanding to provide more services that will help you find new opportunities for profit, financial security, and expanding life experiences.
Our mission is to bring you together with experts in the fields of finance, international law, and investment in a wide range of sectors. We’ll present information, ideas and the contacts you need to take action.
Even if you never set foot abroad, Hemispheres will open growing world markets and offer investment strategies that you may never hear about anywhere else.
Please join me in Belize for Caye Bank’s 2010 Global Asset Protection and Investment Forum taking place November 6 - 10, 2010. This event will provide you with critical, meaningful, and useful tools to counter the ongoing threats to your wealth. You will also see opportunities to own assets outside North America and outside the US or Canadian dollar, providing another important aspect of asset protection, real portfolio diversification.
