Offshore Banking
Learn about Offshore Banking options.

Offshore Banking Options

Offshore banking is a service utilized by companies and individuals who wish to house their money in a foreign country. Financial privacy, asset protection, tax advantages, and currency exchange rates are a few of the reasons people utilize offshore banking. How do you set up an offshore banking account? An offshore banking account depends on the country you choose for offshore banking. You may need to travel to the country to open the account in person. Some countries may also require residency status or have a registered company that has a presence in that country before allowing you to open an offshore banking account. Is my offshore banking account information private? Some countries have information sharing arrangements, which means your offshore banking information is accessible under certain legal circumstances. To insure complete privacy, you should consider setting up an offshore banking account in a country that offers complete customer privacy. Due to various foreign regulatory and tax issues that are applicable in different countries, consulting with an offshore banking specialist or trusted financial institution before setting up an offshore banking account would be an excellent idea.

Offshore Banking News
March 18, 2007
Under a little-noticed provision in the USA Patriot Act, the Treasury Department has ordered severe restrictions against foreign banks or countries for reasons beyond the stated purpose of the law and without producing evidence.Section 311 of the 2001 Patriot Act was drafted to halt terrorist financing and money-laundering, but the Bush administration has used it against an alleged source of terrorist financing -- a bank in Syria -- only once. The Treasury has invoked it more often to punish alleged human-rights abuses or offshore banking havens.

Online Ads found about "Offshore Banking":

Yahoo -

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Other Credit Unions:

Workers Federal Credit Union serves the financial needs of anyone who lives or works in the towns of Stafford, Ellington, Somers, Tolland, Ashford, Willington or Union.
Education Associations FCU is headquartered at 1201 16th Street NW, Washington, DC 20036.
DVA Federal Credit Union is open to all Department of Veterans Affairs (VA) Central Office employees and their subsidiaries.
Howard University Employees Federal Credit Union membership includes employees of Howard University, Howard University Hospital and retirees of HU or HUH.
Fannie Mae FCU membership is open to all Fannie Mae employees, their immediate family including domestic partners, and Fannie Mae retirees.

Credit Union News:

Ghana: De-Graft Memorial Methodist Co-Operative Credit Union Support Members
AllAfrica.com - Feb 6, 2008
The De-Graft Memorial Methodist Co-operative Credit Union in Kumasi gave out a total of GH¢58,987 as loans to its members last year.

Full Story: http://allafrica.com/stories/200802060126.html

Credit union members compensated
BBC News - Feb 6, 2008
Members of a Wrexham credit union which collapsed are told they will receive full compensation.

Full Story: http://news.bbc.co.uk/1/hi/wales/north_east/7231199.stm

SecureWorks partners with CACU to deliver security services to credit unions
Computer Technology Review - Feb 8, 2008
Feb 8 -- SecureWorks Inc., a Security-as-a-Service provider, has partnered with Corporate America Credit Union (CACU) who will resell SecureWorks' security and professional services to its member credit unions.

Full Story: http://www.wwpi.com/index.php?option=com_content&task=view&id=3581&Itemid=128

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