Corb7 International January 26th, 2022 Newsletter

International Business 

Editor's Note

DealStream

DealStream (formerly MergerNetwork) is a private company based in Cambridge, MA offering a global B2B marketplace where people buy and sell businesses, real estate, mineral properties, commodities, investments, and more.  It claims to offer instant access to over 40,000 opportunities and 90,000 member profiles.
 
In our opinion, it offers an effective service, and we do maintain a profile but frankly, rarely use it.   Our issue is not with this networking service but rather with some of the offers that we have seen regarding the sale of Swiss Trust Companies. The pricing and claims are outrageous.  Just yesterday we saw an offer for a “Swiss Asset Management Company” which is essentially a Trust Company, established in 2016 for 750,000 Euro. That is more than seven times what the price should be.  Please be aware and be careful. 

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International Business 

Business Psychology

Try a Winter Sport for Mental Health!

Health and socialization are the driving psychological forces behind the popularity of most adult recreational sports which has obviously taken a hit during COIVD.  Many people, as a result, are spending winter huddled indoors. Winter sports enthusiasts, however, see the arrival of snow and chilly temperatures as a means to start a season of outdoor fun. Those who perceive winter as a time to embrace their love of sport may appreciate learning more about some of the sports that are most popular during the colder months of the year. Below we offer a few insights.

Ice hockey

Hockey is one of the most popular winter sports. In 1994, Parliament passed the Canada's National Sport Act, which declared hockey the official national winter sport of Canada. The origins of ice hockey are somewhat uncertain, though some historians claim the first set of rules to govern the sport were written by students at Montreal's McGill University in the 1870s.

Downhill (Alpine) skiing

Snow Sports Industries America indicates that, in the 2016-2017 season, more than nine million American Alpine skiers took to the slopes, and the sport continues to attract new devotees each year.

Historians state that skiing evolved as a method to cross the landscape in the winter when marshlands froze over. Cave drawings suggest that man used skis during the last Ice Age in the Palaeolithic period. However, the birth of modern downhill skiing is often traced to the 1850s when Norwegian legend Sondre Norheim popularized skis with curved sides and made skiing a sport instead of just a mode of transport. Skiing ultimately became quite popular in Russia, Finland, Sweden, and Norway. Today there are various types of downhill skiing, including mountain skiing, extreme cat skiing and heli skiing.

Curling

Curling may now be seen as a largely Canadian sport, but it is widely believed to be one of the world's oldest team sports, tracing its origins to Great Britain. The World Curling Federation states paintings by the 16th Century Flemish artist Pieter Bruegel portrayed an activity similar to curling being played on Scotland's frozen ponds. The earliest known curling stones came from the Scottish regions of Stirling and Perth, dating all the way back to 1511.

Ice skating

Speed skating and figure skating are derivatives of early ice skating, which is believed to have started in Finland more than 3,000 years ago. Skates were sharpened, flattened bone strapped to the bottom of a shoe and glided on top of the ice. The Dutch added edges to steel blades around the 13th or 14th centuries. Eventually, skating was brought to England from The Netherlands. 

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International Business 

Cross-Border Business

The Cayman Islands

South of Cuba and Northwest of Jamaica, this small island territory is a major international hub and the fifth largest banking center in the world.  It is a location where myth and fact have often been blurred by those willing to buy into what has become known as the “Grisham effect.” 

As you may recall, the famous fiction writer John Grisham used the Cayman Islands as a backdrop for several of his books.  Some of his works were turned into movies with the most celebrated one being, “The Firm,” which starred Tom Cruise and was released in 1993.  For many years, the Cayman Islands suffered from the “Grisham effect," as it was painted within his books as location where money can be stashed away by criminals.  The beauty of the location added a certain romance to the idea of ill-gotten funds being placed in illicit Cayman banks. The reality, however, is far more boring.  The Cayman Islands is a highly regulated and full compliant jurisdiction and as such not exactly an ideal location for drug dealers or anyone else to launder their funds. 

Cayman Islands
Location:  460 miles South of Miami, Florida.
Capital City:  George Town
Population:  65,720 (2020)
Language Spoken:  English
International Time:  EST
Airline Service:  American, Cayman Airways, Delta, Northwest, Continental
Currency:  Cayman Islands dollar CI$
Type of Government:  British Crown Colony
Main industries:   Offshore financial services, tourism
Tax Treaty:  Yes
OECD:  Approved
FATF:  Member CFATF
Additional Notes:  The world’s fifth largest financial service center after Hong Kong, London, New York and Tokyo.  Currently over 500 Banks and 800 insurance companies reside here.

Owning a Bank
It is possible to become an owner of a Cayman Island bank and previous banking experience is not necessary needed.   Although, in reality, it greatly improves your chances of approval, and odds are good that your directors will need a stellar CV demonstrating financial experience.  There are three types of licenses: Class A, Class B unrestricted and a Class B restricted.  Class A allows for doing business with the locals and will not be part of our discussion since it has little practical application for our needs.  The other two classes is where we will concentrate. 

Please note these are not tax shelter vehicles. 

 CLASS B Licenses: 
* Class B Unrestricted License – unrestricted to the number of clients which it can service.
* Class B Restricted License- restricted in the number of clients which it can service, which will be stipulated in the permit.   

Overview:
 A Category B bank permits the holder to undertake full banking services from within the Islands or elsewhere, but prohibits the taking of deposits from any person resident in the Islands, other than another Licensee, or an exempted or an ordinary non-resident company that is not carrying on business in the Islands. 

Fees:
The initial application must be accompanied by a fee of US$2439.02 payable to the Cayman Islands Monetary Authority.  If the application is successful, a fee of US$85,365 will be payable upon the granting of the Category B license. The fees for the licensing process can range from US$45,000 and upwards.  Thereafter, the Annual Fees will be dependent on the amount of assets the bank holds:
 
* Assets less than US$100 million - US $73,170.73
* Assets between US$100 million and US$500 million - US$85,365.85
* Assets between US$500 million and US$1.0 billion - US$97,560.98
* Assets between US$1.0 billion and US$5.0 billion - US$109,756.10
* Assets greater than US$5.0 billion – US$121,951.22
 
Paid-in -Capital:
Under the Bank and Trust Companies Law (2013 Revision) all locally incorporated banks are required to maintain (on a paid-up basis) a minimum net worth of CI$400,000 or its equivalent in other currencies except for licensees that hold Restricted Banking Licenses. Restricted Category B Licensees are required to maintain a minimum net worth of CI$20,000 or its equivalent in other currencies. The Cayman Islands Monetary Authority adopts the guidelines set by the Basel Committee for Bank Regulation and Supervisory Practices for the calculation of the capital adequacy ratio (risk asset ratio). The Basel Committee recommends a minimum risk asset ratio of 8%. However, the Cayman Islands Monetary Authority requires subsidiaries to maintain a minimum risk asset ratio of 12% and privately owned banks are required to maintain a minimum of 15%.  

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International Business

Business Tools

Understanding Private Trust Companies

“It isn't enough to have a trust fund anymore. The next step is to have your own trust company.”[1] 
-Wall Street Journal
 
“In the business world, the rearview mirror is always clearer than the windshield.”
- Warren Buffett Various jurisdictions have legislation allowing for the formation or acquisition of private trust companies (PTCs). A trust company, by definition, is a registered entity that acts as fiduciary, agent or trustee for a person or business unit for the reason of administration, management, and the ultimate relocation of assets to a beneficial party.
 
A Private Trust Company differs from an Asset Protection Trust
The general public, typically, relates the term "trust" with Asset Protection Trusts, Foreign Situs Trusts, Irrevocable Trusts or perhaps Real Estate Investment Trusts.  PTCs, however, are an entirely different type of institution. Far beyond asset protection trusts, private trust companies can  serve as a business expansion tool offering financial services to their beneficial owners and clients. In this capacity, private trust companies are organized for the purpose of performing broad and discretionary fiduciary, administrative and financial services to their shareholders, related subsidiaries and clients. The scope of services a private trust company can provide to its owners and third parties depends largely on the jurisdiction where it is formed.
 
A Private Trust Company is like a Private International Bank
While a PTC differs greatly from an Asset Protection Trust, it is actually rather similar to a private international bank. Among the many applications of a private trust company, its owners will be afforded the ability to: 

• Establish corresponding banking relationships
• Monetize and collateralize assets and commodities
• Facilitate transactions on behalf of shareholders and clients
• Accept funds from investors to raise capital for international projects

 
Profit
Owners of a private trust company are typically looking to accomplish two main goals by either increasing profit or obtaining asset protection.  There are only two major methods of obtaining profit.  You must either cut costs or sell more. Owners of PTCs can cut costs by carrying on fiduciary activities without the use of a third party. Additionally, owners can also profit by offering services and charging a premium.    
 
Asset Protection
Litigation in the United States has reached epic proportions, and, according to Forbes Magazine, is now a bigger threat to wealth than Taxes. This trend is growing worldwide. A private trust company can provide asset protection by managing a shareholder's account in a business-friendly environment while lowering their financial profile.
 
 
Trust Companies Gaining Prevalence
The concept of PTCs has gained a heavy following amongst wealthy individuals and their families as a way of preserving their wealth and obtaining a larger say in their financial affairs. A top Beverly Hills, California attorney specializing in the estate planning field noted:
 
“Wealthy families are taking more control over the inheritance process.  One element that is gaining in popularity is the ‘private trust company.’  Rather than have the family’s money under the control of institutions who often are more interested in selling a ‘product’ and providing good counsel, the families are turning inward.”[1]
 
A recent Forbes Magazine article points out that some of the largest holders of private wealth in the world, including “the Bell family of General Mills, the Cargills of the grain-trading company, the Pratt family of Standard Oil (Pratt was Rockefeller’s partner), and by members of the Ziff family whose core wealth is publishing,” have all formed or acquired private trust companies.[2]
 
The Wall Street Journal further affirms the rise of private trust companies saying “It isn’t enough to have a trust fund anymore. The next step is to have your own trust company.” The journal calls out the unique needs of some families and ultimately only trust companies being able to fulfill those needs:
 
“Families often turn to private trust companies if they have special assets, such as a closely held family business, real-estate or partnership interests, that they don’t feel comfortable handing over to either an individual or a big trust company to manage or they want to ensure that the particular asset isn’t sold.”[3]
 
Conclusion
Private Trust Companies are a great alternative to private banks in that they provide unique opportunities to increase profit while obtaining asset protection.  In recent years, Private Trust Companies have gained a significant following amongst wealthy individuals and their families looking to have more control over their assets and wealth. This trend will likely continue to grow in the coming years.  

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[1] Fisher, Howard S.  If You Really Want Control Your Wealth, Then Think SMALL! [2] Trust Yourself, Forbes Online [3] Silverman, Rachel Emma. Matters of Trust: Super-Rich Set Up Companies, Wall Street Journal, August 4, 2007.

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International Business

Business Etiquette

Etiquette Evolves but Its Purpose Remains the Same

by Candace Smith
The Etiquette Blog
Etiquette for the Business of Life

Etiquette evolves as current culture practices and technology both change.  It offers guidelines for respectful behavior based on common sense, fair play, politeness, and concern for others.  

Yet, throughout etiquette’s evolution, the component of helping us remain recognizably respectful is always its foundation.

Etiquette Evolves with What, Where, When and How

Because our behavior adjusts to meet various situations and circumstances, so do our etiquette practices.  This applies in a general sense as well as in relation to an immediate situation you find yourself in.

Here are some examples of how etiquette evolves to meet a particular encounter:

• In the not-so-distant past it was appropriate for women to stay seated when they were introduced.  This difference with the treatment of men is no longer the case.  What remains true is that properly introducing yourself and others is important.
• A man not shaking a woman’s hand unless she first offers it is outdated.  The pandemic may have changed our willingness to shake hands, but most likely only temporarily.  The art of human connection via a handshake is still important.
• It used to be that a man paid for meals and activities when on a date. Now, it is customary that the person who asks for the date picks up the tab.  
   
• When a man and woman walk together on the street, it is no longer an expectation that the man walks on the side closest to the street.  Today it’s more about the pedestrian rules of how to pass someone on a busy street and being respectful of others’ personal space.  
• Making a toast does not need to involve champagne or wine.  You can raise your glass regardless.  
   
• Informal rules applying to weddings have changed, too.  It used to be that a person had a year to send a wedding gift to a newly married couple.  Now, because of online gift registries and other technology, it is most appropriate to send gifts prior to the wedding.

Why Etiquette?

Etiquette still gets a bad rap as being fussy and old-fashioned.  It also comes with baggage associated with social superiority and as having nothing to do with everyday people.  

But the world cannot get along without a basic set of rules of sociality.  We, as fellow world citizens, have an expectation of living peaceably with those around us.  To make this expectation a reality, we need guidelines that encourage respect from everyone.  

It’s for this reason that no matter how much etiquette evolves, it will always embody the attitude of respect.  And demeaning others is always excluded from etiquette. 

Etiquette is an intriguing word!  It embraces many roles and responsibilities that guide society. It involves following a moral code of conducting oneself, putting others at ease in your presence, being courteous, kind, and honest – even though the truth may not always be pleasant.  It signifies honoring others and striving towards ethical behavior.  Though the precise guidelines will change, intentionally. 

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Lifestyle    

Executive Fitness

Avoid Comparing Yourself to Others

by Nancy Hovde
Life Empowerment Coach
UberEmpowerment.com


How often do you find yourself comparing yourself to others? Maybe you compare your physique, athletic accomplishments, home, income, career, achievements or recognition to your friends, neighbors or even complete strangers. It is natural for us to compare ourselves to others who seem to have more success in a particular area.
 
Nevertheless, the more we focus on what we feel we lack, the greater our insecurities will become. Measuring our lives, fitness, wellness, success, bank account or career impacts our confidence and self-esteem. Comparing someone's strengths to our weaknesses is a sure-fire recipe for a drop in self-confidence. Frankly, it isn't a useful way to spend our time.
 
As a Life Empowerment Coach, I explain to clients that some of us experience the desire to compare ourselves with others as a minor irritation or distraction from time to time—we may, on occasion, think about the comparison, but we decide to focus our energy and thoughts on something more positive. For others, however, the need to compare may be more akin to a tiny devil sitting on our shoulder, constantly whispering words into our ear and creating a life of suffering and negativity.
 
Ongoing comparisons can cause anxiety, worry and doubt. Comparing does not have to be a part of your life. Once you become aware you are comparing more often than necessary, you can stop yourself and choose to focus on you. Here are some tips to minimize it from your life:

• Remember, everyone has weak and strong points. Nobody is perfect; no one has a perfect life. Nevertheless, many people continue to build perfect images in their minds of what they should be like and what their life should be like.
• Put the focus on you. Compare yourself with yourself. Look at where you have grown and what you have achieved. Appreciate all you have done. Notice how far you have come and what goals you are planning to do.
• Take time each day to be thankful and grateful for what you already have—this can help minimize any envy you may be holding. Make a list in your mind or write a few things you are grateful for in your journal.
• Instead of focusing on the competition, focus on you and what you have put into practice today that you didn't yesterday. When we focus on improvement, we can reflect on what we did today that we don't want to repeat tomorrow, and we can recall what we did today that was good and implement that tomorrow.
• Feel empowered to be yourself. Nobody but you has the power to dictate your definition of success or your beliefs. If you have forgotten the true you, take some time to find yourself again.

The more focus we can put on our unique strengths, the more fulfilling our lives will be. We all are here for our own journey. If we stop looking at life as a competition and stop constantly focusing on how we rank in comparison with others, we can become who we are meant to be.

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Lifestyle 

Spirits & Cuisine

The Story of Ketel One Vodka 

 Ketel One is produced by the Nolet Distillery in Schiedam, Netherlands. The Nolet Distillery was founded in 1691 by the Nolet family, French Huguenot refugees, and has remained in the Nolet family ever since. Ketel One is so named for the original coal-fired copper still that was used to distill it, Distilleerketel #1.
 
It has become one of the most popular top-shelf vodka brands in the world but not so long ago it was almost a sign of sophistication to call it out when ordering a cocktail. We think you might really enjoy the video below which describes its long history and family tradition.

Click Here for Video

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Lifestyle 

Leisure

Audio Books for Book Lovers

People who love to read often get lost in a good book. Reading is a beloved hobby across the globe. But even avid readers cannot be immersed in books all of the time , or can they?

Reading while driving or engaging in other tasks is challenging or even dangerous, but audiobooks provide a way to enjoy a good story even when you're otherwise engaged. Though dedicated readers may feel like they're "cheating" by turning to audiobooks, these alternatives to traditional books can be beneficial in various applications, particularly among learning-disabled individuals or second-language learners.

Audiobooks have grown in popularity. Data from the Audio Publishers Association indicates that audiobook sales reached $1.2 billion in 2019. That figure supports the notion that audiobooks can provide a host of benefits to people who can't wait to begin their next page turner.

· Improve punctuation and fluency: Audiobooks tend to be read by professional narrators or even well known actors and actresses. Listening to audiobooks can help people learn proper pronunciation of words, how to read with punctuation in mind and also to take notice of speed, stresses and pauses that are important in developing reading fluency.

· Introduce new material: Reading Rockets, a resource for teaching reading, says audiobooks may introduce readers to books above their reading levels or to subjects they may not normally delve into.

· Expand vocabulary: Listening to audiobooks can introduce readers to new words and teach readers how to pronounce unfamiliar dialects or old literary styles.

· Experience vivid images: Audiobooks may evoke feelings of what it was to be read to as a child. According to Psychology Today, listeners can use the narrator's words and form mental pictures of characters and the plot.

· Escapism: Rather than listening to music while commuting, exercising or doing work that doesn't require much concentration, people can use audiobooks to stimulate their minds.

· Relax and relieve stress: Audiobooks can help people feel happy, thus improving their overall health. Relaxing voices and vivid scene descriptions can soothe a person and even help them get ready to sleep.

· Manage time more effectively: A notable benefit of audiobooks is that they can be utilized as people perform other tasks, helping to free up time throughout the rest of the day while still ensuring people get to enjoy a good story.

Audiobooks may be the answer for busy book lovers. 

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Lifestyle

Lifestyle & Travel

How to Make Your Travel Bucket List Reality 

The idiom "kick the bucket" is a euphemism for passing away that does not paint such a rosy picture if you consider its origins. However, the phrase "bucket list," though undeniably related to "kick the bucket," definitely sheds a brighter light on the topic of mortality.

A bucket list is a plan for living life to its fullest and prioritizing opportunities to engage in all sorts of activities. A bucket list can be made at any point in life and is not exclusive to individuals facing their own mortality. Here are some tips for putting bucket list plans into action.

· Stop and think about what you really want to experience in your lifetime. Leave factors like money or proximity out of it. No ideas are off-limits. This is your opportunity to brainstorm, and nothing is too crazy or silly.

· Write the bucket list in a comfortable or inspiring place, which may help ideas flow more freely. The place might be a cozy nook at a bookstore or a quiet spot on the beach.

· Choose things that are meaningful to you as well as ideas that are frivolous and fun. Make your list a mix of each, and don't take yourself too seriously.

· Divide the bucket list by time. Are there items you can check off in a particular season, such as skiing the Alps? If your bucket list involves moving to a bustling city, determine if you'd like to do that after your children have reached adulthood or if you want to expose them to city life as youngsters. Categorizing the list by periods of your life can make it easier to prioritize certain activities over others.

· Determine if each bucket list activity will be a solitary or joint pursuit. Various activities are more enjoyable when shared with others, but some you might be more inclined to do alone.

· Set aside a budget for funding bucket list activities like travel. Bucket lists may include some costly activities, so start saving now so money does not stand in your way. Open a savings account specifically for funding bucket list excursions and set up automatic deposits.

Bucket lists can encourage people to live life to the fullest and it's never too early to get started on a list of your own. 

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Business Services

Business Acquisitions

New Swiss Trust Company Acquisition Opportunity! 

Profit, Diversification, Asset Protection 
 
Own a Prestigious Swiss Based Business!
  
Here is a synopsis of the immediate opportunity:  
 
1982 Swiss Trust Company:
* 40-years-old with full authority - turnkey
* Year Incorporated: 1982
* Place of Incorporation: Zug, Switzerland
* Corresponding Bank Relationship: Client’s Choice
* Excellent administration with a prestigious law firm located in Zurich 
* Administration first year fees included in acquisition price
* Initial legal retainer also included
* Administration also has SRO license which is large benefit to meet AML & KYC

Please contact us at your earliest if you have an interest.
 
For Details: Call:  +1-310-601-3115 (Beverly Hills Office)

or Email: contact@corb7.com