Having attended an international seminar in the '80s on "Offshore Banking" at which almost all the acknowledged 'experts' and authors of articles on the subject were speakers, I thought that all the ground had been covered ...... It was therefore with some surprise that I learned some years later that there was a more viable alternative which was not even mentioned by these experts - although the international bankers, as well as all the others in the know, took full advantage of it.
The principal disadvantages of an offshore bank are:
Compelling Objections to an Offshore Bank
- It is OFFSHORE, which means that when electronic communications break down, you would have to visit the location in order to do transactions - which could be very expensive, and there are misgivings about the safety of air and sea transportation in the near future.
- Visitors to all the Offshore Banking countries are logged by security services and information fed back to taxation authorities.
- Sooner or later these countries tend to lose their 'confidential' nature on account of 'political' pressure, or pressure from the international bankers.
- There are much better, less complicated and less expensive alternatives, especially for those resident in North America:
However, if you still believe you need this tax-free privacy in NEVADA, we would be glad to introduce you to a long-standing, reputable company in that state, who will look after your requirements completely and provide ongoing maintenance.
- There is one STATE in North America which maintains complete confidentiality and is on record as having refused to co-operate with the I.R.S. in 'sharing' corporate or private information on companies incorporated in that state - NEVADA. As bankers maintain their companies here, there is little chance of this confidentiality being lost in the future.
Why do lecturers on Offshore Banking never refer to Nevada? Incorporations in Nevada number some 10,000 per annum - are they co-operating in some cover-up?
- The Corporation Sole is outside the jurisdiction of government or quasi-government organisations, so why would you want some other refuge for asset protection?
They will even set up a fully operational office for you in Las Vegas, which is easier to reach than any country overseas, if electronic communications go down (which is just a matter of time, according to many experts - and the crash may be deliberate!).
Or ... if you so desire, you can register a CORPORATION SOLE in NEVADA!
But in our opinion this defeats the whole purpose of a properly constituted Spiritual Assembly!
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If you still have questions, write: The Corporation Sole.
© Dr Milson Macleod Jan 2000