Corb7 International January 29, 2020 Newsletter

International Business

Own a Swiss Trust Company

Top Reasons to Own a Swiss Trust Company in 2020

1. Eastern European Business Owners: To seek sanctuary from political uncertainty.

2. US Real Estate Developers: To raise & manage capital from private overseas investors to fund real estate development in the United States. Also applies to similar industries.

3. Wealthy Families or Business Partners: To use as a management tool to protect, invest and consolidate wealth by warehousing assets and segregating interests via mandate for reinvestment reflecting differing tolerance to risk.

4. South African Business Owners: Manage international profits in response to government currency controls in country of origin. Also applies to other countries with similar restrictions in place.

5. Financial Services: To use as an alternative to owning a “Captive Bank” or Class B Bank. The cost of time and money to establish ownership of bank has soared while profit multiples have plummeted. Thus, a Swiss Trust Company can be an attractive alternative for international business.

6. Internet Based Business Owners: Enhance corporate profile while at the same time establishing a quality European beachhead with an outstanding professional network of attorneys and bankers.

7. Import Industry & Shipping Industry: Control transactions more efficiently and establish true corresponding bank relationships.

International Business

Business Tools

Own a Cayman Bank

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.

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:
As of December 31, 2013 there were 199 category B banks authorized. 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, however, before we can give a better estimate on fees, we would need to understand the full nature of your client’s proposed business operations.  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%.

International Business

  Business Technology

Balancing Tech & Life in 2020

It is impossible to dispute the many ways technology has positively affected the world. Tech has made interacting and collaborating with people from all corners of the planet as convenient as conversing with a next door neighbor. Technology also has changed the face of education, making it possible for students from all walks of life to easily access a wealth of information at the click of a button.

For all of its many attributes, technology has its drawbacks as well. One of the notable detriments is the “always on” reality of tech, as well as the ability to become addicted to such instant gratification. Few adults and children can spend more than a few minutes without checking their devices.

According to a report in the Daily Telegraph, on average people are online 24 hours a week, twice as long as 10 years ago. One in five adults spends as much as 40 hours a week online. According to Common Sense Media, teens spend an average of nine hours a day online, compared to about six hours for kids between the ages of eight and 12 and 50 minutes for children eight years old and younger.

Technology also has blurred the lines that distinguish work and personal time. Gone are the days of leaving the office behind when the workday ends in early evening. Today’s workers can take work home, work remotely and even check work emails or put in some hours while on vacation. Children, too, can pay a price as a result of engaging with technology. For example, various studies indicate more than half of adolescents and teens have been bullied online.

These tips may help adults and children regain control and find balance in a tech-driven world.

· Set strict usage times. According to Net Nanny, a technology and internet watchdog site, being plugged into devices, on an almost continual basis, directly affects the brain by keeping it in a state of constant stimulation. This can make it difficult for the brain to get the downtime it needs to recharge. Limit hours of screen time, and wind down at least an hour or so before bed.

· Put devices on silent. If you or your children cannot resist the lure of devices, set them on silent or put them out of sight and out of reach at key times during the day.

· Beef up in-person socialization. Instead of texting or emailing, speak with friends, family and coworkers in person.

· Increase exercise. Time spent outdoors away from computers or other devices can be beneficial to the mind and body.

· Find alternative solutions. Rather than running an internet search every time you have a question, look up answers in a book, travel to learn about new things, experience new hobbies, and immerse yourself in the physical world with renewed vigor.

Tech has changed the world, but it doesn’t have to consume people’s daily lives. With some mindfulness, individuals can find the right balance

Lifestyle

Executive Fitness

Principals of First Aid Everyone Should Know!

Emergencies can strike at any time. When such situations arise, emergency care often must administered to someone who is sick or injured, and that care can mean the difference between life and death.

Being prepared for emergencies means understanding basic first aid procedures that can help a person navigate a crisis – or at least stabilize the situation until paramedics arrive. The following are some first aid principles that individuals should know and practice, courtesy of the American Heart Association, American Red Cross and CPR Certified Indigo Medical Training. They should not replace formal first aid training, but can assist a person when he or she is providing medical care to someone in need.

Bleeding

Bleeding can almost always be controlled until more help is available. Severe bleeding can lead to shock and death, so bleeding needs to be addressed immediately. Cloth should be used to cover the wound, and direct pressure should be applied to stop the blood flow. Do not remove the cloth; add more layers as needed. Tourniquets may do more damage to a limb than good, so they are generally no longer recommended. Nosebleeds can be treated by pinching the nostrils for a few minutes until the bleeding stops. Wounds to the head and mouth tend to bleed a lot even if they are superficial. So keep a level head when addressing these areas.

CPR

Cardiopulmonary resuscitation is one of the most important medical procedures to know. If the heart is no longer pumping blood, a person can die quickly. Immediately start chest compressions hard and fast in the center of the chest, allowing recoil between compressions. Many buildings also have automated external defibrillator devices that can help save lives. If you’re not trained in CPR, then provide hands-only CPR, says the Mayo Clinic. That means uninterrupted chest compressions of 100 to 120 a minute (the beat of “Stayin’ Alive” by The Bee Gees) until paramedics arrive. People who are trained also may perform rescue breathing. The Red Cross and other medical groups offer first aid and CPR certification classes that train people on how to perform CPR and use an AED.

Fainting

Someone suffering from shock or fainting needs blood to get back to his or her brain. Victims should lie on their backs with their feet elevated.

Choking

The Heimlich maneuver can be performed when someone is choking. Contrary to popular belief, people who are choking do not typically make any sounds. Stand behind the victim and wrap your arms around him. Place a fist between the person’s rib cage and belly button, and place your other hand over the fist. Deliver a quick thrust upward, and keep doing this until the foreign object is dislodged. Choking in children is handled differently depending on the child’s age. Parents can get training in child maneuvers.

Sprains and fractures

Sprains and fractures occur readily, especially among active adults and children. Immobilize the limb, apply a cold pack, elevate it, and offer anti-inflammatory drugs for discomfort and swelling. A doctor should be seen for further diagnosis and treatment.

Common first aid procedures can help save lives or reduce the severity of injuries when promptly offered.

Lifestyle

Spirits & Cuisine

Charcuterie for Your Super Bowl Party!

Artisanal charcuterie meats have exploded in popularity recently, so just watch as your party guests line up to get a taste of your own chef-guided platter. These savory plates make a perfect appetizer or even a light meal.

Darryl Fletcher, better known as “Chef D” to fans of his television show, is also corporate chef for Piller’s Fine Foods. He recommends the following tips for a perfect charcuterie party platter.

Start with premium deli meats such as high end salamis or prosciuttos. The Black Kassel line includes a wide array of salamis such as Old Forest, Picante and Mustard Seed. Also available is Speck, which is like a smoked prosciutto. These allergen-free products – free of milk, eggs, fish, tree nuts, peanuts, wheat, and soybeans – are also available at major grocery stores.

For crudités, Fletcher recommends assorted pickles, assorted sliced fruit, like figs and pears, and grapes. For condiments, choose grainy Dijon mustard, honey or honeycomb, and specialty jam or chutney. And for specialty cheeses, Parmigiano-Reggiano, Manchego, triple cream brie, or aged cheddar work well.

But it’s also important to combine the correct beer and wine with the platter. For Old Forest salami, a flower-shaped lean blend of pork with a delicate flavor, go with a pale lager. Mixed with finely chopped mustard seed and a hint of garlic, Mustard Seed salami is perfect with an unoaked Chardonnay. The cayenne pepper in the gypsy salami gives it a semi-hot spicy flavor that pairs well with Riesling. Featuring habanero peppers, Picante salami is great teamed with Gewürztraminer.

Find more recipes: Click Here

Lifestyle

 Living & Traveling Offshore

Traveling and Pets

If you travel and have pets, you know very well how stressful it can be leaving your family member behind.  We recently added a new puppy to our family and needed a method to check on him while we are traveling (even with a house sitter) or just out for a quick meal.  Well, Furbo is a pretty cool all-in-one dog sitter that includes a camera, treat popper, barking alerts and night vision. You can also talk to your pet via a microphone – although they don’t seem to recognize voices very well.  In any case, the above evaluation was posted on YouTube and seems a fair review.
This might just help your separation anxiety!

Business Services

Profit & Asset Protection

We are excited to bring two excellent vintage Swiss Trust Companies to your attention!
This is an outstanding opportunity aimed at business planning for 2020.

46 year-old Swiss Trust Company
and 19 year-old Swiss Trust Company 

Here is a synopsis of of what each includes:

 Swiss Trust Company:
* Place of Incorporation: 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 obligations

For Details & Complimentary Consultation:

Call:  +1-310-601-3115 (Beverly Hills Office)
 or
Email: contact@corb7.com