Three Profitable Offshore Opportunities - Banking, Forex, And a Foundation
The world is changing and it is changing fast. Who would have thought that small Asian economies would be leading the way out of the worst recession in seventy-five years? Who would have thought that a country like Peru would be buying dollars to alter the exchange rate and help prop up the dollar? It is a brand new world where perhaps the best place to set up a banking operation is in New Zealand although an NZOFC cannot be called a bank! Still, a tried and true solution to offshore asset management such as a Panama Private Interest Foundation remains as a profitable and secure offshore solution along with offshore banking, and opening a Forex company.
More and more people are moving their assets, their talents, and themselves out of their nations of origin and into a busy, industrious, and profitable offshore world. The very wealthy have banked in tax advantaged jurisdictions for years. They have taken still take advantage of offshore asset protection and privacy vehicles such as trusts, international corporations, and foundations to shield their wealth from prying eyes and reduce the tax consequence of inheritance. However, it is the surge of expatriates from all over the globe moving and doing business all over the globe that opens the doors to profitable offshore investment opportunities.
Three profitable offshore opportunities are starting a bank, forming an offshore Forex company, and using a Panama Private Interest Foundation as a holder of tangible assets, businesses, and bank accounts. There are many opportunities in today's fast moving world. We choose these three for their combination of opportunity and security.
Offshore Banking in the 21st Century: an NZOFC
There are many offshore banking jurisdictions. There are also a number of jurisdictions where an individual or corporation can obtain licensing and set up business offering banking services. In choosing a jurisdiction for offering offshore banking services the individual or corporation will want to search out a democratic, politically and economically stable, business friendly country. A nation where English, still the universal language, is spoken is a plus. The nation will need to have at least adequate infrastructure to support the business and ideally will have first rate telecommunications, transportation, and support services.
A nation that offers a first rate offshore banking opportunity and also fits the necessary criteria for a successful offshore operation is New Zealand. This former British Crown Colony is located in the Southwest Pacific to the East of Australia. Its population is mostly descended from British immigrants and is mostly English speaking. The country is well governed with little or no corruption and its educational standards are as good as or better than the USA, Canada, and Great Britain. This is a business friendly country known for its innovative spirit.
Of our three profitable offshore opportunities we put the New Zealand Offshore Financial Company (NZOFC) at the top of the list. This type of company is not governed by New Zealand banking law nor regulated by the Federal Reserve Bank of New Zealand. There are no capital reserve requirements in setting up an NZOFC. The law in New Zealand is quite specific in that an NZOFC cannot be called a bank or intimated to be a bank. However, such a company can take deposits from anywhere in the world outside of New Zealand. It can pay interests, make loans, market investments, manage trusts, and provide virtually all services that a bank might offer. Anyone from any country is free to apply for a license to operate an NZOFC.
A Profitable Foreign Exchange Opportunity
So, the Chinese are trading the Yuan versus the Malaysian Ringgit. The Euro is periodically in free fall as Greece and the other PIIGS reveal more sovereign debt. A flight to quality sends folks out buying Yen, US dollars, and Swiss francs. So, how do you trade foreign exchange in this hectic and uncertain world of international finance? There is certainly money to be made in Forex trading. There is, however, steady money to be made in running a Forex brokerage offshore.
There are a number of jurisdictions still where it is possible to obtain a Forex license. Because of the variable degrees of infrastructure development, business friendliness, and political stability in some offshore jurisdictions it is wise to consult someone with experience to help choose a jurisdiction, obtain licensure, and initiate operations. There are a number good places from which to do business, depending up individual preference. There are also a few disadvantageous jurisdictions to be avoided. Starting out with good advice in this arena is wise.
The point of setting of a Forex company is that the fees and commissions are steady income. While trading can be profitable it can also be a drain on capital. This is the old argument about selling picks and shovels when everyone else is prospecting for gold.
Handling Offshore Opportunity in the Most Advantageous Manner
The third offshore opportunity we mention is the Panama Private Interest Foundation. This is not directly a business opportunity but it can be a "holder" of businesses, bank accounts, and assets such as art work, yachts, airplanes, jewelry, and more. A Panama Private Interest Foundation has no owner. It does have beneficiaries. Such an entity is often used in place of a trust to pass on inheritance with minimal tax consequences. The foundation is set up in such a way and with instructions so that beneficiaries change when the first beneficiary dies. Especially for those with concerns about asset privacy and security this type of foundation will allow for individuals to benefit from assets, businesses, and bank accounts without having their personal names or other details in any public registry.
A common use of a Panama Private Interest Foundation is in an integrated offshore asset protection solution containing offshore businesses, bank accounts, and other assets. Typically the foundation is the lynch pin in this solution as the holder of assets for the use and benefit of designated persons, the beneficiaries.
These three profitable offshore opportunities are available to anyone interested in pursuing them. It only takes an email or phone call to an experienced individual or company to get the ball roll
Presiden Persatuan Perubatan Malaysia: 2000 Doktor Bakal Kehilangan Pekerjaan di Malaysia Setiap Tahun
8 Steps to Being a Successful Forex Trader
By definition of being a successful Forex trader, it means being a trader who makes more winning trades than losing ones and more importantly, profits than losses.
I found out that the many traders who leave the Forex market forever after getting burnt badly in the first few weeks of their short-lived trading careers have something in common - they fail to follow a disciplined and step-by-step approach to getting started on the Forex trading path. Most traders - even seasoned ones from other markets - are so eager to get started that they just start trading live without following a proper plan.
That - in my opinion - is pure suicide. They are better off donating the money to charity. Trading is not gambling. In order to become a profitable Forex trader, it is necessary to follow a plan. I have detailed 8 steps I religiously followed when I first embarked on the Forex path, all of which had served me well. I am sharing them with you now and hope you will find them useful.
Step 1 - Forex 101
Before you begin doing anything, make sure you learn all that you can about the basics of Forex. Understand what Forex is, how it works, how to calculate profit and loss in Forex, what the most popular currency pairs are, etc.
Step 2 - Trading 101
If you are totally new to trading anything, arm yourself with at least some basic knowledge on trading. Understand as much as possible about terms such as chart reading, price actions, market trends, breakouts, technical indicators, candlesticks, etc.
Now, it is important to highlight that right after this, many new traders feel adequate to take on the market already. What happens next is an ugly sight as they become hundreds or even thousands of dollars poorer in a week's time and walk away from the Forex market forever disappointed and disillusioned. However dandy you may feel after picking up some 'ground-breaking surefire money making Forex trading strategies', resist the temptation to start trading right away.
Instead, continue with Step 3 below.
Step 3 - Research for a Good Broker
Getting a credible broker is essential to trading Forex because you need their services to place your trades with the market. However, there are many fly-by-night operations masquerading as legitimate Forex brokers just waiting to gobble your hard earned money. So before you sign up eagerly for an account and transfer any cash, be sure to conduct ample research on the broker.
Google the name of the broker with the word 'scam' behind and see if anything negative turns up. You will be shocked to hear of horror stories where seemingly well-presented online brokerage sites perform exceedingly well at convincing people to deposit funds with them, but make tons of excuses when it's time to disburse the funds. Plenty of people get cheated by such operations every year, so be sure to sign up only with the most credible brokers.
And while you are at it, look for a broker that allows you to sign up for a mock trading account. You will find out why in Step 4.
Step 4 - Set Up a Mock Account
As discussed in Step 3, you should look for brokers who allow you to set up a mock trading account. This essentially allows you to trade with virtual money, so that you can decide if you like their trading platforms without actually trading with real cash.
Another obvious advantage of the mock account is that you can start honing your trading skills without consequence. Most such mock accounts give you a sum of virtual money for you to begin mock trading and put what you have learnt to practice.
Step 5 - Begin Mock Trading
Now, you can start trading with virtual money while you learn the nitty gritties of Forex trading! Now I would recommend that you trade on a demo account for at least 3 to 6 months before you start using real money. Jumping ahead doesn't do you any good except wipe out your account.
I must remind you to treat your mock account with respect and trade it like you would trade a real account with real money. Only if you harbor a sincere attitude towards mock trading would this do you any good when you start trading with real money.
While you mock trade, this is the time to learn all you can about Forex trading strategies and train your eye. Look at Step 6.
Step 6 - Learn, Learn and Learn
It is highly recommended that you pick up some books or e-courses on Forex trading instead of trying to figure everything out yourself. Learning from a good mentor and applying the techniques you are learning to practice is the only way to become a successful Forex trader.
Step 7 - Plan Your Finances Wisely
Surprisingly, many traders tend to skip this step altogether. Remember, trading is not gambling. You need to plan your finances wisely and determine how much you can risk on each trade. Every individual has a different risk tolerance level depending on his financial status and personality. But as a thumb of rule, I would not recommend risking more than 2-5% of your total trading account per trade. This means to say that if you have $10,000 trading capital, you should not risk more than $200 to $500 per trade.
Step 8 - Begin Live Trading
After you have learnt what you can from the books and courses and mock traded for 3 to 6 months - and if and only if you have been making more winning trades than losing ones - you can begin live trading.
You have come a long way and should be feeling confident about your trading skills. However, you might find that you are not as confident as when you are mock trading. You might be losing more than you did previously. This is normal, because you are now trading with a real account and the fear of losing and greed for winning is stronger than before. If you can overcome these psychological barriers you will soon regain confidence in your trading.
Also, do not get into the habit of trading just because you feel the urge to trade. The market will always be there for you to trade, but you might not always be in the right frame of mind to trade. If you are in a bad mood, don't trade. If you can't think properly, don't trade. If you are tired, don't trade. If there is no signal for trading, don't trade. The bottom line is, don't trade for the sake of trading.
