August 2005 Archives

By Germán Sánchez -

In the heat of the change led by President Hugo Chávez, speculation that Venezuela intends to replicate the revolutionary course Cuba initiated in January 1959 is steadily proliferating. Those who promote such a distortion are nearly all adversaries of President Chávez, who have an interest in creating confusion, and who themselves are distorted by hatred. It is only on rare occasions -- including on the part of the Bolivarian revolution -- that logical and balanced comparisons between the two nations are made.

by Adriana Vargas Zamora -

There is a popular saying regarding Trusts which is that "the limit of trusts is the imagination", given its known flexibility and application in terms of contracts and its success, brought about by the practical experience obtained from its development throughout history. This has led to the conclusion that this instrument, which is becoming more commonplace every day, is clearly useful in any activity, provided that these activities are legal and it is applicable to an infinite series of objectives, whether individual or collective, all for the common good.

In 1995 I registered the Domain name www.winningstreak.com and have always known that it was a killer-brand name, but it's taken years to come up with the right people, and the right plan, (at the right time), to develop something truly unique and outstanding, for the online gaming industry. Here's the latest rendition of the plan.

WinningStreak.com Executive Summary

WinningStreak.com is a Direct Marketing Company concentrated on Internet Gambling operations. Since 1997 the founders have specialized in helping Internet Gaming businesses get and keep customers. WinningStreak.com (WS) plans to develop an Affiliate Network and Portal for the Gambling Industry.

Emirates Palace Hotel, Abu Dhabi, United Arab Emirates - Gates opened April 2005

It is difficult to give an apt description to the Emirates Palace. String together a host of superlative adjectives, and somehow you still feel that you have fallen short of the mark. Its majesty and beauty is unrivalled. A palace for all seasons, it is certain to endure the sands of time, in the vein of India’s Taj Mahal. Hosting 302 luxury rooms and 92 suites, it is the most impressive resort and conference venue ever to be built in the Middle East.

I´m very impressed by the level of cool and sophistication of this BM&F (Brazilian Mercantile & Futures Exchange) conference. It was about 3 hours drive from Sao Paulo to this little mountain town, filled with Swiss style villas and hotels. Charming downtown core with great shops and restaraunts. On the hill-tops all around there are nice homes looking into the valley of Campos do Jordao.

The event is in a very modern conference center, managed by a team of expert staff and workers. When I arrived and registered I was given a great swag (lap-top bag) filled with course material, dinner invitations and hat shirt etc. Then they printed out my Press Pass, and next I found Mario, my contact, head of Internet for BM&F, he was glad to see me, and showed me all over the facility - TV studios, lounges, special entrances for Press, then brought me to this super high-tech media room, set-up with 24 new IBM computers on the high-speed network.

by Charles Adams -

The retiring Supreme Court Justice Sandra Day O’Connor wrote an opinion in the famous John Doe summons case, acknowledging that the Court had "sounded the death knell for Boyd," which Justice Brandeis had said was a case that "will be remembered as long as civil liberties live in the United States." The case of Boyd v. United States in 1885, struck down a tax law that forced taxpayers to bring in their records for examination. Said the Court:

And any compulsory discovery by extorting a party’s oath, or compelling the production of his private books and papers…is contrary to the principles of a free government. It is abhorrent to the instincts of an Englishman; it is abhorrent to the instincts of an American. It may suit the purposes of despotic power; but it cannot abide the pure atmosphere of political liberty and personal freedom.

I first met Arnold Goldstein in 1994, he was the keynote speaker at a seminar in Nassau Bahamas, that I was involved in organizing. In the years since, I've met dozens of offshore experts and tax attorney's, but in my opinion the best counselors I've met, and one of the most entertaining, and interesting speakers I've witnessed, in the field of asset protection, is Arnold Goldstein.

Write me for a referral, if you'd like to visit Dr. G in South Florida, but meanwhile BUY the book...So Sue Me! How to Protect your Assets from the Lawsuit Explosion

by Vernon K. Jacobs -

In some correspondence with a close friend, I challenged him with the argument that many people in the U.S. regard a concern for privacy as a presumption of guilt. i.e., ?Those who want privacy must have something to hide.? I really hit his hot button with that memo because he wrote back with the comment that in a free society, what we do with our money is, nobody's damn business!

by Jonathan Curshen -

Investment Opportunities, Tax Benefits and Security for Traveling in Turbulent Times

We can no longer travel freely throughout the world without thinking of our safety. As the world grows increasingly more conflicted, it becomes important for us to protect ourselves and our families. This is not just in the U.S. People, as well as governments across the globe, are beginning to feel the effects of conflict.

My friend Carmen from Miami is amongst the most dynamic people I've ever known. She's an expat Venezuelan with an attitude, a winning attitude. Such fun to be around and so inspiring, this recent article from the Miami Herald tells it like it is...

From the ground (floor) to the treetops

She's electric without the shock, an Energizer evangelista for green.

Her name is Carmen Mendez Mackesy, but everyone calls her Carmen, from the guard at the Brickell Avenue condo where her crews maintain the plants to the client who changed his English landscape into a bit of Bali.

Had lunch with my friend Kieran Gartlan today, he's an Irishman living in Sao Paulo for over 11 years. On his day job Kieran is the South American Correspondent for DTN of Nebraska, one of the worlds foremost providers of information related to soft commodities but as a moonlight job (and hobby) he's developed one of the leading Brasil travel portals, called Gringoes.

Brazil's first portal for the foreign community. Traveling to, or living in, a new country can often be a harrowing experience so what you'll need most is information, and lots of it. For many, this lack of information can result in an unpleasant move, culture shock and even psychological and physical discomfort. Things like, finding a place to live, putting your children in a good school, public transport, buying a car, opening a bank account etc. are all essential to making a smooth transition to your new environment.

By C. E. Huggins -

NASSAU, The Bahamas: - Prompt action saved Bahamians from losing millions to convicted trader Derek G Turner.

Mr Turner, a New Zealander with Bahamian residency, came to The Bahamas in 2000. It was alleged that he had chosen The Bahamas to avoid Australia's securities regulators. At the time Australia's security regulators had questioned his trading practices and suggested he refrain from such activities.

August 24 - 27, I'll be attending a congress in the mountain resort town of Campos do Jordoa, hosted by the Brazilian Mercantile & Futures Exchange (BM&F), to represent www.commoditytrader.com another of my websites, that has been growing quite rapidly lately. This event is likely too last minute for most readers, unless you happen to be in the region. Regardless, please join the Newletter list of Commodity Trader.

Derivatives Conference attracts renowned economists, financial analysts and risk managers

Tax Rules for Foreign Corporations and IBCs Owned by U.S. Persons

Before 1962, it was legal for U.S. persons to invest in foreign corporations which in turn invested in various U.S. securities and debt obligations on a tax free basis. Control by the U.S. investors was not an issue.

When the stock of the foreign corporation was sold, the gain was treated as a capital gain - usually eligible for preferred tax treatment.

That's no longer true - even though many promoters of offshore tax schemes will tell you it is. Here's a very brief summary of what is true - today.

The parent company of ExactPay is Bermuda Commercial Bank (BCB). Its majority non Bermudian shareholder is First Curacao International Bank NV, which acquired the bank in May 1993 from Barclay's Bank. Bermuda Commercial Bank have become a leader in on-line banking for International Business Companies.

First Curacao International Bank (FCIB) are the issuing bank of ExactPay Cards and custodian of assets for the ExactPay Network. The Chairman of both banks, FCIB and BCB, is a visionary by the name of John Deuss.

Living in Brasil you become used to the corruption, and the worst distribution of wealth in the world, but what is difficult to get used to, is the complacency of the people, towards the elected officials who steal from them. Sure the citizens curse when driving down roads, lined with opulent houses and marvelous gated communities, when the public streets have pot-holes more easily described as craters. Most people who follow the local news here, realize that road construction money is almost always pilfered before it reaches the holes in the road, and each new politician is able to point a finger at the last one, until the entire charade is just that; "a comic act".

Nov 14-15, 2005 - OffshoreAlert's Annual Conference - Miami Beach, Fla

OffshoreAlert's 4th Due Diligence Conference will focus on all aspects of international research, investigations, compliance, and risk management, particularly as they relate to the detection and prevention of serious financial crime, including:

* Investment Fraud
* Insider Trading & Market Manipulation
* Organized Crime
* Money Laundering
* Corruption & Bribery

Red Sea Management's international team specializes in offshore company incorporation, offshore asset protection and offshore investments. The RSML team, located in offices worldwide, will assist clients in establishing operations around the world. Red Sea Management offers many years of experience in providing private offshore and international business structures.

OffshoreNet recommends Red Sea Management

Africa and offshore aren't exactly synonymous words. So where's the money many of the governments of Africa absconded from their citizens? Where's the diamond wealth held on deposit? at the Bank of Congo? Recently Africa has been in the media more than usual, partly due to the "Live 8" fund raising, and awareness raising efforts of Bob Geldof et al, and partly due to tragic famines that seem to beleaguer the dark continent.

The Republic of Mauritius is the most famous offshore haven of Africa. An excellent business portal is provided by the government and there are many other resources available by performing a Google.

The Jacobs Report is a free e-mail newsletter about U.S. and International tax planning, asset protection and occasional offshore news topics for the clients or prospective clients of Vernon Jacobs, professional colleagues, customers and subscribers of Offshore Press but the list is also open to the public.

Check-out the JacobsReport group at Yahoo! Groups, a free, easy-to-use email news service for customers and subscribers of Offshore Press, Inc. Subscribers will receive periodic news about international tax issues for investors, entrepreneurs, financial advisors and legal advisors.

Today I published an excellent article by Carl Delfeld on Invest Offshore (the OffshoreNet sister site). The article is called; Red China's Wrong Moves. Upon further research I realized there is a great book by the same author.

Editorial Reviews

Book Description
The Challenge

Imagine if you tried painting a picture using old brushes and only three colors rather than the finest brushes and a rainbow of colors? Or playing competitive golf with three old rusty clubs instead of using fourteen clubs utilizing the most modern technology?

Bermuda consists of 8 major islands and 130 smaller islands. Its land mass covers almost 21 square miles (54 square kilometres) and it has a population of approximately 60,000. Bermuda is the oldest self-governing British colony and uses the British Westminster style of Government.

The Islands are among the most isolated in the world with the nearest point of land being at Cape Hatteras, North Carolina of the United States of America - 570 miles (917 Kilometres) west of Bermuda.