The famous quote by J. Paul Getty, "You don't get rich until you are self-employed," is well-known. However, another of his lesser-known quotes is equally powerful: "No one can possibly achieve any real and lasting success in business by being a conformist." This principle applies not only to individuals but also to their money. If your money isn't working for you, it's working for someone else. If you're tired of the unpredictable stock market or waiting in line for an IPO that may sell out before you get there, it's time to explore a more effective option: making your money work harder for you.
The Internet has revolutionized business, opening up global markets and making it as easy to sell to someone in Hong Kong as it is in your hometown. Banking is no exception. Now is the time to take advantage of global banking.
Offshore banking may seem mysterious, but it doesn't have to be. The more you understand, the more you'll want to learn. Let's start with the basics and then delve into some crucial questions to ask.
Offshore banking is not only smart and safe but also legal, moral, ethical, and honest. It offers significant tax benefits that anyone can enjoy. It's private and available to you right now. Since it's your money, you always have access to it. Now, let's consider some finer points. If any of the following questions are answered with a no, it might be best to look elsewhere.
If the company has an exit strategy in 4 or 5 years, be cautious. They might be more interested in their profits than yours.
The last thing you want is to send your money to a country that could potentially be unstable or unfriendly. Ensure the country is stable and friendly.
If the bank doesn't want you to be part of them, you should seriously consider not letting them be a part of your financial life.
There should be a mechanism in place for you to access your funds at most ATMs or pay with a credit card.
If the bank isn't open when you are, it might be best to look elsewhere.
Just like your current bank, you should expect that you can call them on the phone and that they will speak English.
The questions above touch on the major points to consider before opening an offshore account. Remember, offshore accounts are easy to open and easy to access, plus they are safe and offer significant benefits to you. They are for anyone, not just the super-rich. Ask the right questions, be comfortable, and once you are, put your money to work for you.
