Offshore Banking: Introduction www.nomadcapitalist.

com

1
Offshore Banking: Introduction www.nomadcapitalist.com

INTRODUCTION
Are you too big to fail?

If not, pay attention to the following.

It’s estimated that over $63 billion of USA corporate profits are held in offshore
accounts. Does the “smart money” know something you don’t?

Here’s an important fact that most people don’t know:

IT IS LEGAL TO OWN AN OFFSHORE BANK ACCOUNT AND ONLY REQUIRES

PROPER REPORTING.
That’s right; having an offshore bank account is 100% legal for citizens of almost
every country, including the United States. Don’t let the uninformed media

The Offshore Financial Industry has an estimated $40 Trillion in assets, more than
twice the size of the US economy. In this guide, we will discuss why you can benefit
from an offshore account, and how to get one legally.

This report will show you how to take advantage of offshore bank accounts and
other accounts to protect and grow your money. I wrote this quickly while in this
hospital, so please don’t send the spelling police after me.

Let’s get started…

2
Offshore Banking: Introduction www.nomadcapitalist.com

BENEFITS

There are a number of benefits in having offshore accounts such as bank accounts…

1. Asset protection from political risk

Most likely, your government is broke. The United States is the largest offender,
having run up a $127 trillion tab of national debt and unfunded liabilities. It’s a
ticking time bomb. Can you hear it? Tick, tick, tick…

Countries which such debts have already resorted to taking their citizens’ money.
Banks in Cyprus helped themselves to in some cases millions of dollars of
depositors’ money when banks there went broke. The same happened in Greece,
where depositors spent weeks lining up at ATMs, trying to withdraw whatever was
left

It can happen to your bank, too.

3
Offshore Banking: Introduction www.nomadcapitalist.com

Don’t you secretly distrust one government to decide what will happened with all
money that you have earned?

Right now, bureaucrats in your home country are only one keystroke away from
freezing or seizing all of your assets. Get on some weird list, get into an honest tax
dispute, or even skip a few child support payments and your account could be
frozen.

I’m not suggesting you do those things, but the potential for abuse is high. One
Chicago restauranteur had their life savings frozen for depositing too much cash…
from their restaurant. Banking in one country means giving that country the keys to
your entire life savings.

Now, imagine what would happen if you couldn’t access your own money for weeks,
months, or years. This is becoming increasingly common for average business
owners and citizens in the west.

Offshore bank accounts are never controlled by federal or local governments, which
means added protection for your money. Money kept offshore is harder to have
frozen or seized. In many cases, offshore banking also allows for greater privacy and
secrecy… all of it legal.

2. Asset protection from lawyers and creditors

Americans in particular have become so brainwashed by lawyers - millions of them
who went to law school only to graduate with slim job prospects – to believe that
any minor injustice is somebody else’s fault and deserves compensation.

In a wreck? Sue someone and get a check.

Slipped and fell? Sue the business owner for not salting the steps enough.

Sometimes litigation can become abusive. If you are in a profession that exposes
you to potential litigation and you don’t have enough proper insurance, a court
award can be financially disastrous for, you and your family, whether or not you were
actually liable.

4
Offshore Banking: Introduction www.nomadcapitalist.com

Physicians, business owners, contractors, policemen, airline pilots, heavy equipment

operators, and just about anyone can find themselves in a scenario where their
actions or inactions can leave them open to harmful legal awards.

While having at least some of your hard earned assets offshore may not allow you
immunity, it can help you buy time and resources to help battle any judgements.

While there is no such thing as 100% protection against very aggressive lawyers and
creditors, an offshore bank account can help make you a harder target. In a world of
creditors chasing low-hanging fruit, having money offshore can add a layer of
protection by making you a harder target.

3. Access to more stable banks

Would you believe banks in the United States are the 40th safest on earth?

Or that banks in the United Kingdom are the 44th safest?

Those are actual statistics from a recent audit of the world’s banking system. Do you
really want your money in banks that “are not that bad”?

Or do you want your money in the safest banks on earth? “Go where you’re treated
best” means putting your money in the safest, most secure jurisdiction. Chances are,
the best place to live isn’t also the best place to store your money. Your politicians
may have you believing that your country is “the best” at everything, but how likely
is that really?

Some of the world’s safest banks are in Germany, Singapore, and even Australia.
Banks in the United States and much of Europe are nowhere to be found. That’s
because most of US, Canadian, and western European banks keep only one or two
cents per dollar of your money on hand. They’re literally one wrong step away from
bankruptcy.

Even some banks in the tiny nation of Belize are more liquid than your local bank.
The same goes for Mongolia. In short, the world has changed, and the most stable
banks are found in countries that decided to hold their banks to a higher standard in
an effort to attract capital. Why not take advantage of these better banks yourself?

5
Offshore Banking: Introduction www.nomadcapitalist.com

4. Currency diversification
Holding foreign currencies is a great way to diversify the risk in your portfolio,
protect your purchasing power, and internationalize some of your savings.

Chances are, the currency you hold is on the decline. Just look at how much more
expensive it is to purchase every day necessities like groceries than it was ten or
twenty years ago. The US dollar, for example, has lost more than 97% of its
purchasing power in the last century.

While precious metals are often viewed as a hedge to fiat currencies, you can
diversify your risk merely by holding stronger currencies. If you hold dollars, this may
mean owning Norwegian kroner or South Korean won; if you own pounds, this may
mean holding Canadian dollars and Swiss francs.

Offshore banks often allow you to hold up to 15 currencies… all in one account. You
can easily sell your dollars and buy pounds, euros, or renminbi at any time based on
what’s happening in the world. This feature is relatively standard in many countries,
but chances are your local bank has never even heard of it.

That’s why an offshore bank account is an excellent way to get exposure to emerging
currencies and profit from global financial trends.

5. Higher Interest Rates

Currency diversification is a great way to obtain higher interest rates on your money.
Many overseas banks offer interest rates that are 5X, 10X, or even 100X better than
you can get at home. Imagine earning 4% on a US dollar term deposit; not exactly
stunning, but a lot better than the 0.05% your local bank offers.

Now, imagine foreign currency interest rates as high as 15%. If you’re open to a little
risk in your portfolio, you can easily earn double-digit interest rates. Not a bad
bonus for diversifying and protecting your assets.

6
Offshore Banking: Introduction www.nomadcapitalist.com

BANKING RISKS

Imagine your local bank were to go under; who would protect your money? If you
answered “deposit insurance” or “the government”, think again.

Not only do many banks keep mere pennies on hand to pay depositors, but
sovereign insurance funds in the west often don’t even have one percent of bank
deposits on hand.

The world has been turned on its ear, with that which is supposed to be “safe”
turning out to be nothing but. Most of the world follows the old status quo, not even
stopping to think that the status quo could be dangerously broken.

If you’re reading this, you probably realize that the world has changed, and you and
your money need to adapt if you want to keep up.

7
Offshore Banking: Introduction www.nomadcapitalist.com

What happened to the concept of privacy?

Privacy is dead. In fact, its death is mandated in law in countries like the United
States. You may have heard of the concept of “bank secrecy” and think that your
bank account is still some sacred bond between you and your bank.

Anything but. US citizens are subject to constant scrutiny no matter where they bank,
anywhere in the world. Banks in Europe routinely share data with governments in
other countries. Even the contents of your safety deposit box are fair game for the
local police to toss through at whim.

Offshore banking doesn’t necessarily mean you can be anonymous; the days of
numbered Swiss bank accounts are long gone, and reporting the accounts you have
to your local government may be a requirement. However, banking offshore does
allow you to increase your privacy in many other ways.

Possession is 9/10ths of the law

Think about this: if you are a business owner and some government agency freezes
your bank accounts, what would that do to your business and employees?
Unfortunately, it happens every day.

Multinational companies do business and employee people in multiple countries.

Indeed, some are more stable than others. Indeed, it is a prudent strategy to build
financial firewalls to help reduce the total operation from being brought to a
standstill by a local legal or political problem.

More and more individuals are following the smart money and looking at offshore
opportunities and reducing home country social and political risks by investing, and
living in different international locations.

The world is getting smaller at the same time globalization, cheap airfares and free
VOIP communications are making it easier for many open minded people and
companies to build an international life and enjoy the social, cultural and financial
advantages that being “international” can offer

And as many citizens of less stable nations have known from painful experience, it
can be risky to trust a government. We may think we are immune from government

8
Offshore Banking: Introduction www.nomadcapitalist.com

confiscation but trends of disarming citizens, building volumes of non-authorized

personal information and growing dependence on government programs seem to
be making it more feasible.

If those dark days ever arrive- when the government decides it’s in our best interest
to confiscate assets-banks are a good place to start.

“Oh, that will never happen,” you say. Let’s hope not, but it never hurts to diversify
some core assets geographically… just in case. No one ever regretted having some
of their money stored in a safe bank somewhere else. The worst case scenario is
nothing happens and your money remains untouched by any local government’s
taxing or confiscating hands.


9
Offshore Banking: Introduction www.nomadcapitalist.com

GET STARTED
There are two ways you can get started with opening your first offshore bank
account:

Option #1: Go It Alone

It’s possible to open an offshore account on your own merely by contacting your
favorite foreign bank or brokerage company and asking to open an account. While
an increasing number of banks require your physical presence, there are still some
banks that will even let you open an account remotely. In some cases, the minimum
deposit is under $1,000.

If you have a relatively small portfolio and would prefer to open offshore accounts
without anyone’s help, my e-guide The Best Offshore Banks Guide will show you
some of the banks I have used over the years and help you determine which one is
best for your situation.

In this guide, you’ll learn:

• What is the best way to open an offshore bank account?
• Do I have to visit the bank in person to open an
account?
• How much money do I need to open an offshore
account?
• Will I pay taxes both offshore and in my country?
• What type of services can I expect from an Offshore
Bank?
… and more.

We’ve done all the research on which banks and which countries are worth your time
and short-listed the best places to start. You’ll save dozens of hours of research. Click
to get started now!

10
Offshore Banking: Introduction www.nomadcapitalist.com

Option #2: Get Some Help

If you’re a US or EU citizen, own a business, or have at least $100,000 in assets,
chances are you could use some help setting up your offshore accounts. Choosing
the right banks is important, but managing your offshore accounts is even more
important.


That’s because opening a bank account is just the beginning. Chances are you may
have other needs than just opening one bank account. Knowing where to start is
important, as is knowing what to do and what NOT to do. Nomad Capitalist can
help people like you create an offshore plan for which bank accounts to open, how
to fund them, and how to maintain them legally.

If you’d like to apply for some one-on-one help, go to www.holanomad.com.

11