Current economic times are very serious. IndyMac Bank was the second largest bank failure in U.S. history. Many of the deposits were not insured, thus, depositors will lose millions, if not billions of dollars. It may be time to diversify internationally and put part of your hard-earned money out of harms way into foreign banks that do not have exposure to the U.S. sub-prime mortgage crisis. Many people think banks in their own country (such as the U.S.) are “safe” and outside their borders is “scary.” However, to the people in foreign jurisdictions it’s just the “bank down the street” and they feel just as safe about their banks as we do about our local banks.
The first step is to establish an offshore company, since many foreign banks will not open accounts directly with people from the United States. The next step is to open the bank account in the offshore company name. People from the United States are taxed on worldwide income. So, this is not a tax avoidance strategy, it is a fully-reported financial diversification and asset protection move. This strategy may or may not be for you. Call for a free consultation.
Phone: 1-800-COMPANY (800-266-7269)
or visit www.OffshoreCompany.com
More information about international diversification
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