What you will find in this edition
- Frequently Asked Questions:
About Swiss Trust Companies
- Business Tools:
Protecting Against Computer Ransom
- Executive Fitness:
- International Spirits & Cuisine
Wild “Artisan” Boar
- Business Success
The “Uber” of Private Jets
Swiss Trust Company Ownership
1) Does an existing Swiss Trust Company come with open bank accounts?
Answer: No. About 3 years ago all Swiss Banks (and the subsidiaries of International Banks in Switzerland) implemented a standard procedure that automatically closes accounts for a company once the shareholder (and the form A) is modified. This basically means that in all cases, a Swiss Trust Company will need to restart opening procedures once ownership changes.
2) Can a US citizen avoid or defer taxes with a Swiss Trust Company?
Answer: No – absolutely not! US citizens are taxed on worldwide income.
3) Can the Trust Company take deposits and make loans?
Answer: The Trust Company is not a deposit taking institution; however, it can manage the portfolios of third parties and issue instruments such as safekeeping receipts and promissory notes. It can also make loans.
4) Do existing Swiss Trust Companies have a SWIFT membership?”
Answer: This is one of the more frequent questions we receive about Swiss Trust Companies. This is a very good question, and no doubt brought about by information gleaned from various websites. We view our job to get a client operational as smoothly as possible and thus also eliminate a lot of the “noise” created by the Internet. Therefore, we hope you appreciate our no-nonsense approach.
Here are the facts regarding STCs and SWIFT memberships:
- Swiss Trust Companies do not come with SWIFT memberships. To suggest otherwise is misleading and potentially harmful to the client.
- A new owner of an STC can certainly apply for a SWIFT but there really is no advantage, and it is very expensive.
- The application process for a SWIFT will take 3-4 months and if approved you will be required to maintain a substantial paid-in-capital account and staff a coding facility.
- If a client absolutely wants a SWIFT membership, we have a pay-as-you-go alternative, which is cost-effective and makes much more business sense. Otherwise, the STC is fully operational without it.
Tools for the Business Owner
This service meets the needs of all types of SWIFT customers, including: banks, trust companies, investment managers and broker/dealers.Upon acceptance there are two different pricing models (subject to change):
– Flat Fee: 850 Euro per month for up to 4,000 items
– Pay As You Go: 200 Euro per month and then 1 Euro per item sent or received
– Connect to SWIFT with little upfront investment
– Low operational costs and overhead
– Connect directly to SWIFT without using a third party
– No need for to maintain costly SWIFT infrastructure at your site
Computer ransom is in the news this week. Therefore, we thought you might find the following information timely and helpful. Based upon our research it appears that older versions of Windows were the targets over last weekend by the WannaCry Hack. Obviously, no one is really safe, especially with stories of Disney – with their vast firewalls in place – being help up for payment. It might be time to consult your local IT person. The article linked below and accompanying video was recently published by the Washington Post.
One of the fastest growing fitness trends is intermittent fasting. It can be defined by several different methods but it seems the most common is a 16 hour fast followed by an 8 hour eating period. Frequently, the athlete just skips breakfast and allows the body to go into ketosis which is defined as a normal metabolic process when the body does not have enough glucose for energy, it burns stored fats instead; this results in a build-up of acids called ketones within the body. Certainly the process has detractors – we are not providing this as diet advice to any individual – but we came across this presentation and thought it interesting and worthy of your review.
Below we offer part two of our report on this popular subject via a video posted by fitness model & advocate, Thomas Delauer.
Spirits & Cuisine
Wild Boar & Italian Cuisine
I am not sure what could be more pleasant on a spring evening than having a glass of wine (or two) while listening to jazz and cooking Italian cuisine. If there is something, well, I have not found it and that is exactly what I did last Thursday. With all due respect, to my vegetarian friends, I enjoy trying to be as authentic as possible and wild boar was our effort that night. It is also a delicious staple to many Italian diets and not easily found in the United States. While doing research for this blog, however, we discovered a ranch in Texas which we will use again and again. Broken Arrow Ranch is located in the Texas Hill Country and is an artisanal (please see below) producer of high-quality free-range venison, antelope and wild boar meat.
These animals are truly wild – not farm or pen-raised. Since they feed on natural grasses and other similar vegetation it produces an all-natural meat of the highest quality which is also provided to many a fine-dining restaurant across the country. We were very impressed by Broken Arrow. That particular night we used their Italian wild boar sausage to stuff red peppers with brown rice and onion resulting in a very sweet version of a classic dish. Pretty much a perfect entrée. We hope you will have the opportunity to enjoy their service too.
Broken Arrow Ranch
Please Click Here
“Artisan” is a term used to describe food produced by non-industrialized methods, often handed down through generations but now in danger of being lost. Tastes and processes, such as fermentation, are allowed to develop slowly and naturally, rather than curtailed for mass-production.
The Uber of Private Jets. XO – Jet is attempting to redefine the art of flying private. Please click on the picture shown above for a video presentation.
Think 7 Continents – Think a World of Opportunity”