Doing the Offshore Double:
When Bayview Yacht Club’s Bell’s Beer Bayview Mackinac Race begins July 16, Christopher VanTol of Detroit will have his family’s 35.5’ C&C 35 MK II Eliminator on the start line, hopefully without any leftover bottles of Gosling’s Rum. That’s because Eliminator will have already done the 635 nm biennial Newport Bermuda Race in June.
In VanTol’s opinion, the Bayview Mackinac Race is every bit the challenge as he’ll see in the Bermuda Race, which he sailed in 2014.
“Thunderstorms can pop up unexpectedly off the Lake Huron shore, and the waves are stacked closer together. It can be more difficult than sailing out on the ocean, where the waves are so spread out. A…
Full Article: Scuttlebutt Sailing News – Doing the Offshore Double, Editor
Inaugural California Offshore Race Week:
The inaugural 2016 California Offshore Race Week featured the combined forces of five yacht clubs along the California coast to produce a week-long schedule of offshore racing. The race brought together the Spinnaker Cup, Coastal Cup and SoCal 300 from May 27- June 5. Horizon (SC 50), skippered by John Schulze from Balboa Yacht Club, took first place in the overall Race Week standings. Full report and photos.
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Full Article: Scuttlebutt Sailing News – Inaugural California Offshore Race Week, Editor
The confidentiality, privacy and therefore the effectiveness of offshore company structures and bank accounts has been slowly but surely eroded by various EU directives and the general changing of international policy relating to the offshore industry in general.
Internationally speaking, the intension behind the erosion of privacy and confidentiality is alleged to be the prevention of terrorism; and within the EU there has been intense focus placed on the curtailment of unfair tax advantages previously potentially obtainable offshore. However, the bottom line is that offshore IBCs and bank accounts have become far less beneficial than they once were for all those legitimate individuals and companies seeking genuine international advantage from placing their business and banking offshore.
The good news is that one of our preferred partners is now able to offer a new, confidential offshore company structure and guaranteed offshore bank account package to qualifying and interested parties, and they claim that: This new structure is designed to give maximum protection and confidentiality to our clients, and offer a form of protection previously unavailable from the offshore industry. To learn more about the structure and apply, read on but please do note, this structure does not provide protection for those who would seek to use it for any illegal purpose including money laundering or tax evasion, and Lee Byers does not support, condone or promote such illegal practices.
In the past, many seeking the flexibility of an offshore company structure opted for the likes of a bearer share Seychelles offshore IBC because the very definition of a bearer share company is that there is no public record of the ownership of the company within the jurisdiction in which it is formed. Naturally this affords the company owner a great deal of personal protection and it affords their business a certain degree of privacy.
However, those with such a company structure invariably required a bank account to enable their company to operate, and it was at the bank that they became particularly vulnerable to the erosion of the privacy of their company. Now, whilst the banks our preferred partner in question deals with offer a number of protective measures to try to ensure client confidentiality is maintained, and to ensure privacy is protected from inquisitive outsiders, there was still some vulnerability until now.
One of the typically offered banking security measures is the requirement for the account holder to use a digipass that provides a burst code alongside their pin numberbut even this level of sophisticated technology cannot protect against whats called a production order. A production order can be obtained by anyone investigating your affairs who simply applies to a local court for such an injunction.
As the majority of the bank accounts supplied by this preferred partner are in Cyprus, this is how a production order would be obtained in that particular jurisdiction. Any investigating body can apply to the Cyprus High Court for a court production order, and whilst in most cases the court would refuse, with the general tightening up of international regulations relating to offshore business, it is possible that a production order will be issued to the affected individuals bank. This has the effect of forcing the bank to provide complete information on the beneficial owner of the bank account and therefore the offshore company too.
The good news is that there is now a new, secure, private and confidential approach to this problem that solves the critical issues that we have highlighted.
You are now able to purchase a Seychelles IBC Cyprus trust company package, with guaranteed bank account that is strategically structured to ensure that the above scenario cannot happen, and that is carefully created to allow for the protection of the account holders privacy.
The structure is actually very simple basically the Seychelles company issues one share to a Cyprus company owned by a Cyprus law firm. The advocate of the law firm will be your nominee director. The Cyprus company will then provide a trust document proving that you, the client, are the true beneficial owner of the company; this document will have a court apostile stamp on it. The result of this type of structure is that if anyone investigating your affairs attempts to obtain a court order against your company and is successful, they will only leave court with an order against the Cyprus company and not the Seychelles company. As you are not the beneficial owner of the Cyprus company, no further information is available to the investigators.
This makes this product ideal for asset protection and/or confidential international transactions for example.
The final benefit of this particular structure is that you are guaranteed a bank account thanks to the fact that this particular preferred partner is one of the largest introducers of clients to their choice of international bank, (which has A3 Moody rating and AA Standard and Poors rating.) Note, unlike most other offshore bank account introducers, with our preferred partner you need undergo no credit score nor provide no bank reference to be eligible for an account your account is absolutely guaranteed upon payment of establishment fees.
(The only exception being for non-licensed public investment companies).
We are certain that this particular structure will be of interest to many readers, therefore if you would like to learn more, discuss your requirements and/or apply directly, please get in direct touch today and if youre in a hurry, please provide your telephone number so our preferred partner can call you in confidence.
Lee Byers provides high quality investment products and services that are tailor-made to meet our client’s particular requirements. Our reputation has been built over the last nine years on solid values and investment expertise. Our experience and success has established us as one of the fastest growing investment brokerages in the world today. Further information about the Group is available on Lee Byers.
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