We can arrange the setting up of your own offshore international bank in any of a number countries, including our personal recommendations, namely St. Vincent & the Grenadines and Dominica, both in the Caribbean.
Offshore international banks have remained relatively stable while banks in the developed world have experienced all kinds of trauma in recent years because banks in the developing world have not exposed themselves to the toxic debts that have devastated the banks in the developed countries.
Offshore international banks are less likely to be involved in money laundering and the financing of terrorism than the banks of Europe and America, in spite of attempts to stigmatize them with such labels. This has been so while these offshore banks have been operating creditably in the mainstream of international finance.
Why This is the Right Time for Your Offshore International Bank
The aggressive attacks on the offshore sector in recent years by the Organization for Economic Cooperation and Development (OECD), Financial Action Task Force (FATF), and the G-20 Group of Nations caused many to think that the offshore business was on its death bed. Nothing could be further from the truth. Multinational corporations continue to use loop holes in the law to minimize their taxes and it is now openly acknowledged that the offshore industry is here to stay.
Developments in the banking sector in North America and Europe clearly indicate that all is not well in their backyard and that this presents a solid case for offshore banks to fill vacant needs. Over the 5-year period, 2003 – 2007, the list of problem banks in the US averaged 75 banks per year. But as of early 2014 the list of problem banks stood at 467.
In spite of the bailouts of banks during the recent financial crisis (2007 – 2009) 493 banks failed. It was fortunate that there was no run on banks during that crisis and the Savings and Loan debacle. The FDIC Insurance of accounts covers only $250,000. If an investor wishes to protect $1 billion, he would have to spread it over 4,000 different bank accounts. According to the FDIC the ideal amount to have in balance is $120 billion. Its audit in May 2014 showed a balance of only $37.9 billion which is to say that it was then short by over $80 billion.