Financial Privacy: New strategies for confidential offshore banking Welcome to Financial PrivacyServices: Confidential offshore banking services and
New strategies for confidential offshore banking What You Are Up Against How To Fight Back
Offshore Services: Transfer of Funds Offshore and Privacy Offshore Services: Transfer of Funds Offshore and Privacy

Yesterday's offshore services:
Stale but still for sale

What you might not know:
Transferring funds offshore

What they tell you, and why you might buy it
What you might not know: Transferring funds offshore
What you might not know: Offshore privacy and bank secrecy in practice
What you might not know: Nominee services and privacy protection
Getting what's right for you
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(Part 2 of 5)

Opening an offshore bank account is just the beginning. Getting your funds offshore in complete privacy is not as easy as it once was -- or as you might (not) have been told.

with Peter Widder

Financial surveillance, the merging of the definitions of tax avoidance and evasion and the reverse burden of proof has created an obstacle course that will defeat the ill-informed.

To start with, asking your local bank to transfer money to the account of Palm Tree Holdings Inc. at a bank in Nassau -- even though a simple and legal procedure -- may be enough to arouse suspicion and begin a chain of events which can lead to your onshore funds being confiscated or worse.

The unfounded suspicions of your local bank aside, a direct money transfer from your onshore bank to your "super-secret" offshore bank account always somewhat negates the privacy benefit of banking offshore anyway.

A responsible offshore provider will not stop at making a sale and leave the client on his own once the company incorporation and account opening has been completed. Where appropriate, assistance and advice with the transfer of onshore funds to an offshore bank must follow.

It is interesting to note the existence of grey-area "transfer pricing" schemes, specifically serving those who seek to transfer funds offshore in silence. While this is an area that has grown rapidly in response to client demand, it is one of those territories that's best kept fenced off from the unscrupulous. Consequently, entrance will usually require a discreet introduction.

Before hastily marching your assets offshore, ask your offshore provider about any confidential funds transfer services (it is a sensitive area so tread with caution). You might be surprised by the number of options available.


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