Caribbean banks can defraud your bank account
Banks in the Caribbean Islands are complicated. They are not well capitalized. Account opening is very frustrating and time-consuming. They accept big amounts of money coming in but it will be very difficult to transfer big amounts of money out of the Caribbean Islands. Banking in the Caribbean can be very risky. Your money can remain locked forever. There are many cheap offshore company providers and fraud in the Caribbean.
I had clients who lost millions with banks in the Caribbean. They invented fraudulent stories and blocked the assets. Many clients cannot move their money out of the Caribbean. Watch out. Be very careful with offshore company providers and banks in the Caribbean. The Cayman Islands offer excellent jurisdiction for setting up hedge funds. The bank accounts of the hedge funds are opened in Switzerland only. The Cayman Islands is a good place for your next holidays on the beach but definitely not for international private banking.
Living with no bank account is a nightmare
Banks are needed. I had clients living without a bank account. They made mistakes in the past. A life without a bank account is terrible. I saw it with my own eyes. The banks have the upper hand. We can’t impose our instructions to the bank if the bank is not willing to cooperate. If you have an offshore bank account, don’t close it even if it cost something to maintain it. There is no guarantee that you will be in a position to open a new one.
Don’t keep all your eggs in one basket
Don’t keep all your eggs in one basket. Diversify your risk by opening accounts in more than one bank. Invest vulnerable amounts exceeding 100’000 EUR in bonds and shares. In Cyprus, only cash was confiscated. In Switzerland, all investments in bonds and shares are protected from bankruptcy by law. Swiss bankruptcy law protects investors if the bank goes bankrupt. Your investments will not be a part of the bankruptcy inventory. The Zurcher Kantonalbank, for example, guarantees all the cash even in case of bankruptcy.
How to communicate with the compliance officers
I will give you some tips on how to deal with the compliance officer.
If the compliance officer will pose to you a question, you should answer immediately. Delay creates suspicion. Make sure you have invoices and contracts ready to show to the compliance officer. Don’t try to provide false information. Fabricated information can trigger a Suspicious Activity Report to the Money Laundering Reporting Office. Your assets can be frozen for months if not years. I was combating for more than 2 years with the prosecutor for having funds back.
Avoid transactions in USD. USD transactions may cause stupid questions and investigations. Where it’s possible you should make CHF or EUR transactions. Cash withdrawals with big amounts are a problem. If you plan a sensitive transaction, please contact me first. Give me a call. Let’s discuss the best way to structure a secure transaction. Give me a call now. If you are engaged with sensitive transactions such as internet trading, adult entertainment or forex you may consider changing the bank before your funds are frozen. We know exactly which bank is able to deal with sensitive activities.
The international private banking world has become more complicated. The rules are always changing. Every single case is different and needs specific attention. If you have an issue call me now and let’s discuss your options. Consider subscribing to the YouTube Channel.
Insider information just like this cannot be found in universities, in libraries and not on the internet. If you would like further information on your offshore bank account, offshore banking, international tax optimization, wealth management and asset protection I only share with subscribers, sign our boutique law firm’s letter. Based on that information you will save more money and expand your business faster than your competitors. Check our educational Video-Blog on our website where you will find the links to more of our easy-to-read articles.
If you need instant help with your private banking account, if you have a confidential or sensitive question, you would like to discuss with me only, grab your mobile phone now and dial +41 44 212 44 04. Give me a call now. Be rich and stay rich. Have a wonderful day.