Corb7 International April 14, 2021 Newsletter

International Business 

Editor's Note

Fake News Hurts Business!

Turn on any news broadcast and it seems like all you will hear are cries of fake news or a daily pronouncement that the world is coming to an end.  We have become a society of extremes, and the once cherished middle ground has been obliterated.  Recently, I heard the perfect description used by a television pundit when he termed the current circus we are watching as an “apocalyptic hamster wheel.”  It certainly does not seem far-fetched to believe business is likely to be hurt if we do not get some return to civil order.    
 
Tribal Civil War
Not so long ago in the United States, virtually every city had two major newspapers, several local television stations (plus radio stations) for current event reports and the three major networks (ABC, CBS and NBC) which people relied on for their national and international news. Then in 1980, the 24-hour news network CNN broke ground and established itself as a force.  For approximately 20 years, it seemed like everyone somewhat respectfully coexisted.  With the advent of the Internet and the eventual development of social media, however, all hell has broken loose. Gone is the illusion of objectivity and news is now commoditized, often existing as little more than cheerleaders and propaganda machines.  Essentially, the media – to remain competitive - has sold its objectivity to become foot soldiers for whatever side they advocate. There is no such thing anymore as a neutral broadcasting.     
 
Thus, the social media phenomena changed news, politics and business forever and not for the better.  The consumer, of course, is more informed than ever before but are we receiving quality information or just junk food for the mind?  Perhaps even more ominous, social media has been weaponized and ridicules behavior from fringe characters has become common. We have become desensitized to this element, and a social media mob mentality now exists, which overreacts with outrage at the slightest incident. This newfound power to establish “crowds” can bring out base and childish behaviors.  To be so easily offended is to tip your hand as being simple and narrow minded, nevertheless, it can also be dangerous for all of us.   To use an American baseball term, we are left with no one calling balls and strikes – everyone is simply rooting for their team.    
 
Politics and the media have a tremendous effect on business and an objective media would be an extremely stabilizing force for all us. It would hold politicians accountable.  For example, the current push towards socialism – a system that has virtually never worked but appeals to the good nature of man – is especially troubling and not being thoroughly examined.  Again, not so long ago the policies being proposed would have been appalling to most everyone.  The Genie, nevertheless, is out of the proverbial bottle and where this will end is anyone’s guess. One thing is for sure; however, both business and wealth are very portable. If pandering politicians start hiking punitive tax to extreme levels, you will see both quickly exit for more favorable ground leaving little left behind.  Perhaps then the level heads will return to having a dominant influence.

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International Business 

Business Psychology

Ignite Your Passion!

by Toni Delos Santos
90% Mental
90percentmental.com
   

  Passion is an undeniable emotion that fuels athletes, Entrepreneurs, and many others to reach their highest levels of achievement. Passion is what drives people to go far beyond their limitations both physically and mentally. There is nothing more exciting than watching athletes and teams that play with passion. The passion comes from loving what you do and a determined desire to win. It is what motivates them to put in endless hours of practice and it is something you can’t teach.

Over the past year, we have all experienced a global pandemic that literally changed our lives overnight. The original timeline was a 2-week lock-down to stop the spread of this horrible virus. Kids were not in school, businesses were closed, all sporting events were cancelled, and we were all instructed to not socialize with friends or family outside of our household. This was such a drastic contradiction to our normal lives and routines, however we all got on board doing our part. I mean we can do anything for 2 weeks! Then, weeks turned into months and months turned into a year. Most people were trying to keep themselves and their loved ones healthy and adjust to a new way of life. How do we once again find our passion and desire to excel in business and life? How do we reset and find our focus?

As in sports, go back to the fundamentals. Why did you start doing what you are doing? Many athletes can get so caught up with contracts, public opinion, and pressure to constantly perform that they lose sight of why they started playing. It was because they loved playing their sport. They had a passion to train hard to accomplish their goals. The challenge of finding new ways to improve both mentally and physically to become better each year ignites their passion.

Using that same model, really think about the reasons that you chose your profession and worked so hard to achieve your current level of success. Think about what drives you and puts the fuel in your tank. What are your goals and how are you going to accomplish them? Create a vision of how it will look and feel when you have achieved success. How will you celebrate your victory?

It is easy to get distracted with everything going on in the world and day to day life. Know that there will be challenges and embrace the journey. All you can do is control what you can control and remember to always be grateful for everything that you have. When you can define your purpose and go after it with a vengeance, you have once again found your passion.

“The more concerned we become over the things we can’t control, the less we will do with the things we can control.” —Coach Wooden

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International Business 

Offshore Perspective

7 International Strategies for Asset Protection & Profit

 
 1) Trust Companies

A Trust Company is a business entity organized specifically for entering into Fiduciary, Trustee or Agent relationships with individuals or organizations to administer assets.  It may act as a portfolio manager, executor,guardian, trustee, custodian of assets, fiscal agent and paying agent for corporations and governments who have issued bonds and provide services such as estate planning etc. Trust Companies frequently have numerous other financial powers, which are only limited by the jurisdiction in which they are established. Trust Companies are not required to exercise all of the powers that they are granted.
 
In general, a Trust Company is usually owned by one of three types of structures: an independent partnership or entrepreneur, a bank, or a law firm.  It is frequently seen as an effective alternative to bank ownership.  The primary benefits are asset protection (either corporate or personal) and resolution to specific or unique business problems.    

Jurisdiction of Preference
- Switzerland

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2) Bank Ownership  
 
Bank ownership is not appropriate for every organization because it can be very expensive and time consuming.  Thus, it cannot offer an immediate solution to business needs.  The rewards, however, may be well worth it.   After the tragedy of 9/11, international banking laws and regulations dramatically changed. The bank-chartering process can be an endurance test easily lasting 18-months even in the most accommodating of jurisdictions.  Often the complexity of the application provides not only the ability for extensive due diligence but discourages unqualified applicants from even starting the process.  In effect, this marathon “weeds out” those parties that are not fully committed to bank ownership.     

A bank is defined as an organization usually a corporation chartered by a government which does most or all of the following: receives demand deposits and time deposits, honor instruments drawn on them, and pays interest on them; discounts notes, makes loans and invests in securities; collects checks, drafts and notes; certifies depositor's checks; and issues drafts and cashier's checks. The bank charter is an agreement that governs the manner in which the bank is regulated and operates. It authorizes the existence of the bank by the agency which is primarily responsible for protecting the public from unsafe banking practices.  
 
Jurisdictions of Preference:
- Cayman Islands
- St Vincent 

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3) Captive Insurance Companies
 
A Captive Insurance Company is an insurance company that primarily insures the risks of businesses, which are related to it through common ownership usual a parent company.    The entity can be domiciled and licensed in a wide number of jurisdictions both domestically or offshore. It is estimated that about 80% of the Standard and Poor 500 companies own one or more captive insurance companies. Using a captive is commonly accepted risk management technique. 

Jurisdictions of Preference:
- Bermuda
- St Vincent
- British Virgin Islands 

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4) Special Purpose Vehicles
 
A Special Purpose Vehicle (SPV) is a financial entity created for the purpose of fulfilling a very specific or temporary objective. It is separated from the sponsoring or parent and may be controlled by several companies working together.  SPVs are typically used by companies to isolate the firm from financial risk.  A company will transfer assets to the entity for management or to finance a large project thereby achieving a narrow set of goals without putting the entire firm at risk.  In certain jurisdictions, specific ownership percentages may be required.

Jurisdictions of Preference:
- Ireland
- Jersey

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5) Asset Protection Trusts

An Asset Protection Trust is a legal structure that splits the beneficial enjoyment of trust assets from their legal ownership. A Trust is simply a contract between the people who wish to protect assets (the Grantor) and the person who will manage the assets (the Trustee) for the benefit of all Beneficiaries which may include the Grantor other individuals.

Jurisdictions of Preference:  
- Cook Islands 

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6) Foundations

Foundations can trace their origin to approximately 100 years ago in Western Europe.  A Foundation is a separate legal entity, without members or shareholders, and is generally established to reflect the wishes of the founder, who may be an individual or a corporate entity. These wishes are contained within the Foundation's Deed of Incorporation and Articles of Association. Foundations can be established for a fixed or indefinite period of time and can be used for charitable, commercial or for family purposes.  They are often used for estate planning purposes and as an alternative to Asset Protection Trusts. 

 
Jurisdictions of Preference:  
- Liechtenstein 
- Panama

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7) Offshore IPOs

Taking a privately held entity public offshore might be an excellent means to solve specific and unique business problems or raise equity for a current subsidiary.  A very detailed process, it needs to be only handled by an experienced firm.  

 
 Locations of Preference:  
- Frankfurt Exchange 
- Berlin Exchange 
- Bermuda

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International Business

Business Tools

International Risk Management Conference!

RIMS LIVE 2021 is one the most comprehensive risk management events in the world.  You’ll find insight, opportunity and connections to build a bigger, stronger and more versatile risk management community.

- 100+ hours of knowledge-building and thought-leading insight, available for 60 days.
- A game-changing digital RIMS Marketplace.
- Network-boosting social events for you to meet with other leaders in the profession.
- Greater diversity with risk professionals at all-levels from all parts of the world.

 
RIMS, the risk management society®️, is a global not-for-profit committed to advancing the practice of risk management throughout the world. They offer networking, professional development, certification, and education opportunities to our membership of 10,000 risk management professionals in over 60 countries. Founded in 1950, the Society represents more than 3,500 industrial, service, nonprofit, charitable, and government entities throughout the world.

To access RIMS Risk Knowledge resource library and for additional information about the Society, visit www.RIMS.org. 

RIMS Live will occur April 19 - April 30, 2021
Netflix Founder and startup CEO Marc Randolph will be the conference closing keynote speaker.  

To Register

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Lifestyle

Executive Fitness

How to Safely Hike Remote Areas

Many people have rediscovered the great outdoors in the wake of the COVID-19 outbreak. Social distancing measures have greatly restricted indoor gatherings, but outdoor activities, particularly once parks were reopened, allowed people to get out of their homes while still keeping their distance from others.

Remote hiking trails provide perfect opportunities to experience the wonder of nature while social distancing, but it's imperative that hikers take certain precautionary measures on such excursions in order to stay safe.

Pack extra clothing:
Extra clothing is vital on a remote hiking excursion for a number of reasons. Some extra socks, a wind- and rain-resistant jacket and an extra pullover can help hikers stay warm and dry if the weather changes while they're hiking and trying to return to their vehicles. In addition, extra clothing can help hikers stay warm if they suffer an injury while hiking and need to camp overnight once the sun goes down.

Pack extra food:
Extra food and water is just as vital when hiking remote areas as extra clothing. Extra food can make emergency situations more manageable, helping people avoid hunger if they need to camp overnight or simply keep their energy up on long hikes. Trail mix tends to be high in calories and full of protein, making it an ideal, easily packed food to bring along on a hiking trip.

Don't go it alone:
Solo hiking can be a great way to connect with nature, but it's always best to hike remote areas with at least one other person. Hiking in pairs ensures someone is there to seek help if a hiker is injured and rendered immobile while out on the trails.

Let others know your whereabouts:
If going on a solo hike or even with a partner, share your location and intended hiking route with a loved one who is not coming along for the hike. Let this person know when you intend to return and that you will call them when you safely make it back to your vehicle. If the call never comes, your loved one can then alert the appropriate authorities and share detailed information about where you are hiking.

Bring maps:
Pack a road map showing the way to the trail and a map of the park itself. Remote areas may not have the best internet connections, rendering car GPS systems useless. And a printed map of the park can help hikers reduce their risk of getting lost once inside the park. Pick up or order a map of the park in the days prior to your trip. Don't wait until you arrive at the park to get a map, as the park may not have any on hand.

Know how to use a compass:
Understanding how to use a compass can prove invaluable, especially when boating, hiking or engaging in other activities in the great outdoors.

1 ) Parts of a compass

Compasses feature various components. The most basic will have a ringed needle housing that is printed with the cardinal points N E S W for North, East, South, and West. Some also have degrees as markings; a compass pointing due North is at 0 degrees. A rotating ring with arrows or other line markings will be on the outer facing of the compass as well. Other compasses also may have a clear base-plate into which the compass is attached. The base-plate may have rulers for helping to calculate distance when used with the map's scale and a directional arrow.

The compass has a magnetized needle that always points to magnetic North. It will be colored red or white. Magnetic North is not the same as True North. In fact, the two can differ by up to 20 degrees depending on where a person is on the surface of the Earth. For the most accurate reading, compass users will account for this difference, which is called "declination;" otherwise, they may end up many miles away from their mapped destinations. There also will be an orienting arrow. This arrow allows the base plate to be aligned with the magnetic needle. A travel arrow tells the direction a person should head.

2)  Reading a compass

To read a compass, users must first make sure they are away from structures that can interfere with the compass reading, such as large metal structures or high-voltage power lines. Place the compass on the palm of a hand at chest level. Watch for the magnetic needle to rest with the red tip pointing to North. Turn the dial surrounding the compass until the orienting arrow is completely lined up with the magnetic needle. Once it is, the direction arrow on the base-plate of the compass will now indicate your heading.

Beginners should always practice using a compass and test their map-reading and navigational skills in a place they visit frequently. When using a compass, always be sure the direction traveled coincides with the direction of the travel arrow.  Despite the prevalence of GPS and other digital navigation software, understanding how to use a compass is a handy skill, particularly should one lose battery power, be out of satellite range or lose a map when enjoying the great outdoors

Hiking remote areas is an ideal activity in the age of social distancing. But safety must be a priority on such trips. 

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Lifestyle

International Spirits & Cuisine

Handmade Pizza from Italy at Your Door!

"The Sleeping Pizza" is handmade and shipped to your front door from Naples, Italy.  Sourcing only the finest, all-natural ingredients from Southern Italy with no preservatives, no additives and no GMOS, they use first-of-its-kind technology.  This is where the nickname The Sleeping Pizza comes in: Within seconds of coming out of the oven, the pizzas are flash-frozen and put to “sleep” using a state-of-the-art, patented cryogenic chamber. The extremely low temperature preserves the pizza and all its fresh ingredients exactly as is ready to “wake up” in just 10 minutes when your craving for Italia calls.    

Talia di Napoli 
Click Here to Order 

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Lifestyle 

Leisure & Style

 

Own a Tuscan Vineyard!

We love Italy.  The food, weather, people & language are simply intoxicating.  It is obvious that we are not alone.  All throughout the Internet, you can find information about traveling to this beloved vacation spot.  Many, however, dream about living in Italy.  Perhaps you have even contemplated retiring to your own rustic farmhouse, similar to one depicted in the movie "Under the Tuscan Sun."  Recently, we came across the video above which delves into the particulars of buying property in this wonderful location and thought it worthy to bring to your attention. 

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Lifestyle

Travel

How to Approach Travel this Summer! 

It could be safer to travel in the summer of 2021 than it was a year ago, but travelers should still take a cautious approach before heading off for parts unknown in the months ahead!

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Vacation season is right around the corner. For the second straight summer, travelers may have to contend with uncertain circumstances as the world continues to confront the challenges posed by the COVID-19 pandemic.

Many individuals and families postponed or canceled their summer travel plans in 2020. Restrictions on travel and concerns about safety drove those changes. Though the pandemic is ongoing, the development and distribution of various vaccines has reopened the possibility of travel for millions of people across the globe.

It could be safer to travel in the summer of 2021 than it was a year ago, but travelers should still take a cautious approach before heading off for parts unknown in the months ahead. Below are some ideas to consider:

- Monitor vaccine distribution. In early March, the three pharmaceutical companies behind the vaccines that had been approved up to that point, Moderna, Pfizer and Johnson & Johnson, updated their projections regarding the availability of vaccines. Estimates suggested the three companies would be capable of providing hundreds of millions of vaccines by the end of July 2021. That would seem to suggest that travel should be considerably safer by mid- to late-summer 2021 than it was a year ago. However, those were just projections and this week Johnson & Johnson had a major setback. Travelers concerned about COVID-19 can monitor how many vaccines have been distributed by visiting the Centers for Disease Control and Prevention website at https://covid.cdc.gov/covid-data-tracker/#vaccinations. Prospective vacationers who hope to travel domestically (in the United States) can even utilize the CDC's interactive map to determine how many vaccines have been distributed in the areas they hope to visit. Such knowledge can help travelers make the most informed decisions as they ponder whether or not to travel this summer.  For a worldwide perspective consider the following website: https://ourworldindata.org/covid-vaccinations

- Learn about restrictions prior to booking any trips. Restrictions at your ultimate destination are another factor to consider before booking a trip. Thankfully, the CDC also makes it easy to learn about such restrictions within the United States. Prospective travelers can visit https://www.cdc.gov/coronavirus/2019-ncov/travelers/travel-planner/index.html and simply plug in a city, ZIP code or address to learn about potential visitor restrictions in their destinations. Travelers who don't want to be limited during their vacations can utilize the tool to find places with limited or no restrictions.

- Read the fine print before signing on the dotted line. In 2020, many people learned the hard way why it's so important to read the fine print on vacation contracts. Pay particular attention to cancellation policies and whether or not they're flexible. Travelers have every right to be concerned about traveling during a pandemic, but they may have no right to refunds if they signed contracts with inflexible cancellation policies. Travelers who suspect they may travel this summer but aren't entirely sure about safety should only sign contracts that allow them to cancel trips without paying any penalties. In addition, before booking hotel rooms, ask which amenities will be available to guests. Chances are you will spend more time at the hotel than normal, so access to pools, restaurants and other amenities takes on heightened importance.

Traveling in the summer of 2021 will be unique. Would-be vacationers should do their homework and consider a host of factors prior to booking a trip. 

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Business Services

Free E-Book

"The Complete Guide to Swiss Trust Company Ownership"

by
Jeffrey H. Corbett

About the Author:
It is our mission to save you both time and money when it comes to implementing a successful cross-border strategy as well as make a Swiss Trust Company acquisition possible for you within the shortest possible period of time. Offering more than 25 years of hands-on personal experience, the management of Corb7 International has guided more clients to successful endeavors with Swiss Trust Companies than any other alternative source.

This operational and management experience has allowed Jeffrey Corbett to develop a keen understanding for how international businesses can get bloated with redundancies or inefficient networks resulting in the loss of both time and money. To that end, the Corb7 Strategic Development Solution was created by him. This in-depth approach allows an entrepreneur to retool achieving a sleeker, smoother and more strategically focused organization. An advocate for bringing critical functions in-house, his clients range from small to mid-cap international concerns that can appreciate the additional control and cost reductions.