Offshore Companies’ Notes
Nowadays many (illegal firms are presenting firms and bank accounts in many diverse adminstrations with a shopping list of states available, almost every one of them no longer any good, many being based on Caribbean islands and are deceiving the clients into believing they are real offshore jurisdictions with secrecy features. Wrong!!!
Let’s examine some things to search for when looking for an offshore jurisdiction.
Bank Seclusion - Without this we are not interested. We want the bank to not be able to divulge any information about the bank account inclusive of whether or not such a bank account even exists, unless the legal courts of the country where the bank is based create an order.. Any secrecy regulations above this, is no longer available anywhere today. Numbered accounts are finished. Sparbuch accounts in Austria are all obsolete. Yes, I know people extend them for sale on websites but they are all history and phased out. The bank privacy policies must be inscribed into the law of the country in inquiry. Belize has no such bank secrecy policies written in their laws, people just seem to rely them although there would be no legal penalization for them to disclose bank information if they see fit to do so. We desire bank secrecy laws to call for incarceration and civil penalties for any infringements in addition to permit for one to file a suit against the bank for trespasses. Panama fills this test.
MLAT - Mutual Legal Assistance treaty. Numerous states have subscribed into these arrangements. For a list of states that have participated into these arrangements with the USA courtesy of the US Government click here: http://travel.state.gov/law/info/judicial/judicial_690.html
It is fascinating to learn that numerous states have participated into these accords. Panama is one of such nations although its range is narrow.
