Skip to comments.Why invest in Offshore Accounts? Discover the power of Offshore Bank Accounts. [Citibank Promo Page]
Posted on 07/13/2012 3:10:01 PM PDT by SoFloFreeper
Offshore investing is ideal if you have global financial needs and want to hold some of your money outside your home country. Our two offshore investment centres, London and Jersey, will offer you more freedom in the way you manage your wealth and may help you to potentially gain tax advantages...
Managing your wealth offshore can offer you a range of advantages:
If you live in a country where you would prefer not to hold all of your financial assets, you can protect your wealth and invest your money how you want to through secure markets like London or Jersey.
You can access a diverse range of investments products and offshore bank accounts that might not be available in your home country.
There may be certain tax advantages to holding a portion of your wealth offshore. This depends on your particular circumstances, where you live and where you pay your tax.
(Excerpt) Read more at citibank.com ...
He is former Chief Operating Officer for Citibank...he headed up a fund that bet on the collapse of the housing market, according to the liberal Huffington Post.
Obamugabe is attacking Romney for supposedly having overseas dollars, yet Citibank is promoting these kinds of accounts.
Hypocrite, much, Obamugabe?
RISK - the uncertainty of loss as regards the future...
If I were a person of wealth with substantial assets subject to RISK at this point in time I would be concerned with the following government actions that would take my assets...
CONFISCATION of assets, including pension, 401, IRA accounts.
INFLATION by the actions of the Federal Reserve. This actually affects the less than rich folks due to the increase in price of food, gas, utilities, rent, that their fixed monthly income cannot keep up with.
TAXATION by the Socialist/DemoRATS to redistribute wealth/income of the 1%.
Ten years ago the only one of these three to be concerned about was INFLATION.
The combination of these three government RISK factors is what is causing assets to be repositioned outside the USA and for Americans to give up their citizenship in more asset friendly countries.
What do you think??
Oh, wait, there aren't any forensic accountants when a big confiscation is sprung anymore...
Look at the fine print on why no one has been jailed for MFGlobal.
The US is unusual in that it taxes citizens on their world-wide income. If, say, a British subject earns money working as an ex-pat in Saudi Arabia or Hong Kong and leaves the money in an offshore account, no UK taxes will be due on the income on that money. The money only becomes taxable if it is repatriated, even if worker moves back to the UK.
That’s why you encounter so many more Brits and Irish working overseas. American workers can’t afford to work in those places and pay US taxes.
In practice, other countries are far more democratic because ultimately, citizens/subjects can “vote with their feet” rather than being condemned to a lifetime of tax serfdom.