Diversify Your Assets Offshore

2/28/2015

The number one rule in investing is NEVER PUT ALL YOUR EGGS IN ONE BASKET.

To rich people, this means, do not keep all your money in one economy. If that economy goes bust, so does your money. Therefore, keeping their money (even if not all of it) offshore gives rich people the opportunity to diversify their assets and spread any risk.

On the other end of spectrum, for the average American the idea of having a bank account in a foreign country may sound like a fantasy gone mad. If ever, this dream that may never be achievable, or even ridiculous. Afterall, to the average American, a foreign bank account is only for the extremely wealthy or the extremely criminal.

It is without question that Americans have an extremely parochial attitude when it comes to their money. In fact, with older Americans, there is even a distinct sense of suspicion of foreign banking activities. Many Americans believe that we have the best and the safest banking system in the world, so why even consider going anywhere else with your money.

Regardless of whatever reasons, the average Americans could not identify one single advantage for owning a foreign bank account. The word "foreign banking" or "offshore banking" carries with it a stigma that is largely associated with our own misconceptions of the other countries.

On the other end of the spectrum, however, there is a growing segment of Americans who have embraced the merits of offshore banking. To these thousands of legitimate and highly successful businesses and individuals, the word "offshore banking" has become an important tool for accumulating, enhancing, and protecting wealth.

A foreign bank account gives the learned investor the opportunity to take advantage of the benefits of various banking activities and blend them into a unique profit-making and tax-saving financial strategy. For the careful and conscientious investor, this very feature of offshore banking is one of the most practical ways of expanding the realm of financial opportunity, because it is one of the most creative ways to diversify your assets.

Accounts held in offshore banks are rarely subject to U.S. state and federal laws and regulations. Offshore banks can also offer a wide range of services well beyond the legal ability of U.S. banks. Through aggressive use of these services, investors can increase their profits, reduce their tax burdens, and raise capital at lower interest rates -- all without the restrictive maze of red tape often required by banks in the United States.

How to Open a Foreign Bank Account

If you plan to visit a country in which you may be banking, you should consider a number of banks. Before you actually travel to visit the bank, it will be to your advantage to first correspond by post or by email. Here are some of the more salient points you should consider when selecting a bank:

Related Articles

How to Buy Homes and Land for a Few Dollars

3/12/2015

Yes, you can buy homes, apartments and land for next to nothing by using the procedure of bidding at "tax delinquency and lien sales." These are made to recover unpaid taxes on property which is auctioned off 3 to 4 times each year.

How to Get Free Life Insurance & Pension

7/20/2013

Once you have formed your own non-profit organization, you merely place in your corporate charter the provision that life insurance and pension be paid by the organization of which you are a member.

Choosing a Bank That's Right for You

7/20/2013

It is important to select the right bank. Do NOT choose any bankā€•be fussy! There are two main objectives to seek when searching for a new bank.

The World's Only Untraceable Bank Account

11/24/2013

It may have been possible in the days of swashbuckling pirates for the individual with a few extra bucks to hide his stash in a chest in the ground beneath a secret palm tree and be reasonably sure that his money was sagely hidden from other pirat...

Get All the Grocery Coupons You Need

3/12/2015

Anyone who doesn't use coupons when they go grocery shopping is missing out on an easy way to save money. Many stores double coupons, so a 35 cent coupon will actually save 70 cents.

14 Ways to Get Free Postage and Envelopes

3/8/2015

14 Ways to Get Free Postage and Envelopes

34 Legal Methods to Cut High Postage Costs

2/16/2015

34 Legal Methods to Cut High Postage Costs

55 Safe & Legal Deductions to Save on Taxes

2/16/2015

A tax deduction is where you subtract all or part of an expense from your total, taxable income, thereby reducing the amount of tax you pay. State and federal laws define the rules that determine which expenses can be deducted. But here are some deductions that you might be able to use to save money.

45 Tested Secrets to Help Save on Vacations & Traveling

2/16/2015

45 Tested Secrets to Help Save on Vacations & Traveling

How to Get Free Travel

3/11/2015

If possible, appoint yourself as President of your own non-profit organization and have the organization supply you with a "free" vehicle will all be expenses.

Terms of Use

All content provided on this website is for general informational purposes only. No warranty is expressed or implied. Your use of this website is subject to our Terms of Use.