How To Select Between A Credit Card And A Loan

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Offshore Bank Account Tips & Issues

Offshore Bank Account Tips & Issues
Are you looking for a personal offshore bank account.
Maybe you are looking for a corporate offshore bank
account. Generally speaking, any bank account opened
outside of one's native country can be considered an
offshore bank account. The appeal of an offshore bank
account is much more apparent during tax time, when assets
and income must be reported to the IRS or other government
revenue agencies abroad. This is why some companies and
wealthier individuals prefer to open an offshore bank
account in small sovereign states which allow account
holders to remain virtually anonymous. For many years, an
offshore bank account was indeed a convenient way to hide
profits from illegal activities or underreported business
earnings. Many people consider opening an offshore bank
account for very legitimate financial reasons.

Bank

There is usually not much difference in service or benefits
between the bank on the corner and a bank located in the
Cayman Islands. These banks which are well established
institutions offer an online corporate offshore bank
account, with offshore credit card or debit card, and which
can be operated via the internet, fax or phone. All bank
accounts can be opened via courier post. None of the shelf
offshore corporations have ever been in use or ever held a
bank account.

Account

These banks which are well established institutions offer
an online corporate offshore bank account, with offshore
credit card or debit card, and which can be operated via
the internet, fax or phone. The offshore banks were not
obligated to report the existence of these accounts, and
the account holders could legally pay little to no taxes to
the host country. In recent years, however, the rules
governing an offshore bank account have become much
stiffer. Any bank account containing over $1,000 USD must
be reported as income to the IRS, even if that bank account
is in the Cayman Islands or Ireland. This is why some
companies and wealthier individuals prefer to open an
offshore bank account in small sovereign states which allow
account holders to remain virtually anonymous.

Panama

One of the greatest advantages of having an offshore bank
account in a favorable jurisdiction like Panama is that no
one needs to know it exists. With a Panama bearer share
corporation, wires moving through the wire system are not
associated with any natural persons for more privacy.
There is no capital gains tax in Panama on stock market
trading gains making Panama a superb offshore stock
brokerage jurisdiction. Bearer Share Corporations
(Sociedad Anonima) Asset Protection with a full range of
effective strategies including Panama Foundations and
Corporations Providing corporate nominee directors and
resident agent Offshore Bank Accounts in Panama with online
banking Anonymous ownership of real estate anywhere
Anonymous ownership of boats and planes anywhere Real
Estate Investment (Panama real estate appreciating 58% per
annum) Panama Passport Program Panama Residency,
Citizenship, Visas Stock Trading Accounts in Panama with
secrecy Offshore Visa, MasterCard from Panama Bank and
other countries Offshore Merchant Accounts for high risk or
low risk accounts. Bank secrecy laws in Panama call for
prison sentences and/or fines for any bank employee,
officer or owner who divulges any information about a bank
account or account holder(s). The only way the bank can
legally divulge any information about you or any bank
account associated with you is by court order from a court
in Panama.

Banking

It is important that the proper jurisdiction be selected
when deciding which jurisdiction to use as an offshore
banking jurisdiction. It may also be far more appropriate
for an individual to consider structuring their offshore
banking affairs through an offshore company so that they
can gain greater confidentiality in their banking affairs.
Offshore banking accounts are generally opened under the
name of offshore companies or corporations. Offshore
banking accounts need to be opened with an initial deposit
to activate your account.

Tax

Companies incorporated in the Great Britain must pay tax on
their worldwide income regardless of the country in which
this income is generated. With the exception of charitable
companies, there are no tax-exempt companies in the United
Kingdom. Offshore companies or offshore trusts are not the
illicit hideaways from tax authorities as sometimes
presented. The tax-free status of the jurisdiction being
used is always a major consideration. When selecting an
offshore jurisdiction for your foundation one must take
into account the following: freedom from taxes including
inheritance taxation, anonymity of the foundation, ease of
passing assets to beneficiaries, ease of operation and
reasonable cost. Our overriding aim is to minimise your
tax liabilities whilst maximising your company's income.

Companies

As more and more people worldwide discover the risk-free
benefits of placing their business and personal
financial-affairs well away from their own countries,
offshore companies are being created on their behalf at a
rate of over 150,000 per year. Many owners of offshore
companies tend to operate the companies directly by
themselves. It is absolutely critical that any client seek
the information necessary to make a strong decision when
opening an offshore account and forming offshore companies.
Offshore banking accounts are generally opened under the
name of offshore companies or corporations. To assure
complete privacy, the shares of International Companies are
often held by a discretionary trust.

Offshore banking has been routinely and legally used for
many years by individuals and organizations worldwide. As
with any type of bank account you have a choice when it
comes to determining which offshore bank account best suits
your needs and requirements. An offshore bank account will
allow you to safely and privately explore, with few
restrictions, the far reaches of the vast and diverse
financial universe; from the bond markets of Korea to the
stock exchanges of Eastern Europe; from ultra-private
Liechtenstein trust arrangements to the most successful
funds; from unique commodity investments to Caribbean
corporations; from Israeli nanotech start-ups to age-old
European blue-chips; from the mysterious and secretive
world of offshore mutual funds to tax-free Swiss gold
accounts; from Isle of Man Insurance contracts to Danish
multi-currency investment accounts; from uniquely
structured tax-free Austrian funds to Bulgarian mortgages;
and much more beyond.

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To learn more about the Offshore Bank Account and other
Offshore Banking issues, visit Offshore Legal at
http://www.offshorelegal.org/offshore-banking/swiss-switzerl
and-offshore-banking/offshore-bank-account-tips.html

Credit Card Debt - Top 10 Tips to Wipe it Out

Credit Card Debt - Top 10 Tips to Wipe it Out
You might have taken on more than you could manage, in
terms of credit cards. However, that doesn't mean you have
to stay with these debts forever. With a little effort and
practice you can eliminate credit card debt permanently.
Here are some tips to help you sort out your debts.

1. Make a list

One of the first things you will need to do to ensure debt
reduction is to list out all your existing credit cards
descending order of interest rate. That means the card with
the highest interest rate must be listed topmost followed
by the other cards.

2. Assess the minimum payment percentage

Next you need to find out the minimum payment percentage
from the fine print on the credit card documents. Make sure
to add up all the minimum payments on each of the credit
cards. This is one of the first steps towards debt
consolidation efforts.

3. Check your affordability

Next you will need to ascertain how much you can shell out
each month. Make a list of your current expenses versus the
income you are receiving. If you want to eliminate credit
card debt on a permanent basis you will need to find out
ways to save up on money in order to pay for these
outstanding balances.

4. Payment methods

For all the other credit cards, excepting the one with the
highest interest rate you should make an effort to pay off
the minimum balances on each card. This is the only way you
can accomplish debt consolidation. On the card with the
highest interest rate, in addition to the minimum amount
pay off an additional amount to reduce debt.

5. Pay off the highest rate card

Even before you start paying off the outstanding towards
other cards make sure to pay off for the one with the
highest interest rate. This way you can avoid incurring too
many expenses towards this high rate of interest. This is
one way to go about debt reduction successfully.

6. Request for lower rate

The credit card market is so competitive that if you
request for a lower rate from your creditor you might just
get it! Lower rate means you can get rid of credit card
debt that much faster!

7. Do a balance transfer

You'll be surprised at how much savings a balance transfer
can actually make for you! Look for a card with a much
lower interest rate. Then transfer your outstanding
balances to this card. Now you just have a single payment
every month at lesser interest rates! That's a great way to
ensure debt reduction.

8. Make a promise

You need to promise yourself that you won't use the card
for anything else other than emergency situations. If you
stick to this resolution you will be sure to save a lot and
get rid of credit card debt much faster.

9. Use your savings

Make sure to use up the money in your savings account to
pay off the outstanding balances as much as you can. As far
as debt consolidation goes this is the fastest method.

10. Read the fine print

If you plan on going for a new card with a low interest
rate, read the fine print as most of them are promotional
offers. Know what the rate is after the promotional period.

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Article by Richard Greenwood, founder of finance and credit
card comparison website http://www.click4credit.com.au .
The site features expert articles on a wide range of
financial topics including debt reduction & credit card
consolidation.