Corb7 International October 2, 2019 Newsletter

International Business

Feature

Clear & Present … Critical Thinking!
“In politics, stupidity is not a handicap” – Napoleon  

Monday was laundry day. At the start of every new week, you did your washing and ironing. That’s the way it was. On a bright and sunny day, if your clothes were not hanging by clothespins outside, a neighbor would likely call over and see if you were ill. After all, it’s Monday and that is what you did. Good, bad or indifferent we loved our habits. It was a simpler time, and those days are gone. My early childhood, spent growing up in Pittsburgh during the 1970′s was not “Leave it to Beaver” the iconic T.V. show but on the other hand, it certainly wasn’t “Beverly Hills Housewives” either. The world has changed. Times are radically different but are we? Or, do most of us, as Henry David Thoreau once said, “lead lives of quiet desperation”? Is it our conditioned fate to drone on with personal rituals and our own “virtual” laundry days without ever questioning why?

Jaywalking Through Life
Any fan of late-night television will recognize the Tonight Show, and a segment entitled Jaywalking that was done with the former host Jay Leno. It is an uneasy humor which hits the viewer as contestants attempt to answer simple questions and fail in the most amazing ways. The segment often resembles a train crash – you want to turn away – but it is simply impossible not to watch. Maybe we aren’t smarter than a fifth grader. Nothing in pop culture points to the failure of our educational system better than this simple comedy skit. Individuals who otherwise appear intelligent, frequently educators themselves, fail to summon up fundamental knowledge that should have been obtained through rote learning long ago. Is this lack of awareness some sort of deep social-psychological conditioning? Perhaps we are bombarded with so much information daily that we have become the opposite of Pavlov’s dog and prefer not to respond at all. No matter the reason for its existence, this collective lack of thought we are willing to demonstrate throughout our lives surely creates opportunities for those who are desirous to manipulate it.

Every single day, public relations firms, governments and special-interest groups pound away at us through the media. Content that was once considered editorial is now frequently advertorial. Reported news is opinion. You cannot avoid it. Virtually everything that is printed, photographed or videotaped can be manipulated to influence decisions. Therefore, we have a choice to make. We can passively accept what is fed through these outlets as fact or understand that yellow journalism really does exist and question the validity of everything presented to us. In ancient Latin, there is a phrase “Qui tacet consentit” which means “silence implies consent.” Jaywalk through this valley at your own peril.

Critical Thinking
Critical thinking is the ability to steer clear of quick judgment and question what is presented as factual. It is not a step by step process that can be memorized but rather a skill that is honed with time and use. This invaluable discipline can function in every aspect of life to solve problems and make quality choices. American academic great, William Graham Sumner, thought that “men educated in it (critical thinking) cannot be stampeded by stump orators.” Advocates of critical thinking have frequently stated that “education should teach how to think and not what to think.” It might be time to for us to expand that argument to include the instruction to think. By definition, an international entrepreneur or even just an advocate of a wide-reaching lifestyle, must think out of the box.  No matter your political leanings, the current times demand no less.

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 Psychology

More Leisure Time for Health & Wealth

Few working professionals would likely say they could not use more leisure time. People spend their leisure time in various ways, and many would prefer more time to pursue their passions away from the workplace. While they may not be able to create more time in the day, men and women can take various steps to create more time for leisure.

· Spend free time more wisely. According to a recent American Time Use Survey from the U.S. Bureau of Labor Statistics, persons age 15 and over averaged four hours and 59 minutes of leisure time per day. That figure may come as a surprise to working professionals who feel they never have enough time to pursue their passions. But such people may just be spending their leisure time in ways that don’t incorporate their passions. For instance, the American Time Use Survey found that more than half of the nearly five hours of leisure time persons 15 and over enjoyed each day was spent watching television. Men and women who want to make the most of their free time can note the amount of time they spend watching television, ultimately skipping their binge watching sessions in favor of pursuing their passions.

· Consider downsizing. Empty-nesters, working professionals with no children or even parents whose kids still live at home may benefit by downsizing their homes. The American Time Use Survey found that men spend an average of 22 minutes per day doing housework, while women spend 50 minutes per day doing housework. Downsizing to smaller homes that don’t require as much daily maintenance can provide men and women with more leisure time.

· Get out of the kitchen. Cooking is a favorite leisure activity for many people. But for those who prefer to be out and about rather than preparing meals in the kitchen, cooking can be more of a time-consuming chore than a rewarding passion. The American Time Use Survey found that men spend 43 minutes per day on food preparation and cleanup, while women spend 70 minutes per day on such activities. Meal delivery services can cut down on the time it takes to prepare meals, opening up more leisure time for people who want to spend less time in the kitchen each day.

· Make an effort to split chores down the middle. As evidenced by the time men and women spend on housework and cooking, the American Time Use Survey found that household chores are not always divided equitably among men and women. Adults who feel they do not have enough leisure time in their day can work with their spouses or significant others to ensure both partners are doing an equal amount of work around the house.

Leisure time that’s spent well can contribute to a higher quality of life. Many people may be surprised to learn just how much leisure time they can enjoy each day by making a few simple tweaks to their daily routines.

Lifestyle

Executive Fitness

Understanding Hot vs. Cold Therapy!

Inflammation can affect anyone, and those who have battled it likely have nothing positive to say. But while few people may associate inflammation with something good, inflammation is actually a process by which the body’s white blood cells and the substances those cells produce protect the body from infection at the hands of bacteria, viruses and other foreign organisms.

While inflammation is protective by nature, sometimes an inflammatory response is triggered by mistake. When that happens, the body’s immune system, which is designed to protect the body, begins to damage its own tissues. The resulting symptoms of this faulty immune system response may include joint pain, joint stiffness, loss of function in the joints, and swelling of the joints. None of those symptoms are comfortable, and people suffering from them may be on the lookout for ways to alleviate their pain and suffering.

While anyone battling persistent inflammation should speak with their physicians to explore their treatment options, a preliminary search of how to best treat inflammation will no doubt turn up information about heat therapy and cold therapy. The following breakdown should not replace a physician’s advice, but it can help patients battling inflammation better understand both treatment options.

Heat therapy

According to the Merck Manual, a reference book for physicians and patients alike, heat works against inflammation by increasing blood flow and making connective tissues more flexible. Heat also can be used to combat edema, a condition characterized by an excess of fluid in the tissues of the body. Upon application, heat can temporarily reduce pain and alleviate stiffness in the joints. Heat also may temporarily relieve muscles spasms.

The Cleveland Clinic notes that heat can be effective at relieving pain associated with worn-away cartilage in the joints because it eases chronically stiff joints and relaxes tight muscles. In addition, moist heat can relax painful neck spasms linked to nerves or blood vessels in the head or pain emanating from muscles in the neck. Heat can be applied via hot packs, infrared heat, paraffin baths, and hydrotherapy.

Cold therapy

Cold therapy, sometimes referred to as “cryotherapy,” can relieve pain associated with inflammation that has developed recently. Cold can help numb tissues and relieve muscle spasms and can also be used to alleviate pain associated with injuries. The Merck Manual notes that ice bags or cold packs can be used to apply cold. In addition, fluids that cool by evaporation, including ethyl chloride, may be applied topically. Some medicines may interact with ethyl chloride spray, so inflammation sufferers should consult their physicians before applying such sprays.

According to the Cleveland Clinic, ice can be used to calm flare-ups and numb pain associated with chronic, inflammatory arthritis. Ice also can ease inflammation and numb pain linked to pulled muscles or injured tendons. Pain and inflammation resulting from the stretching or tearing of ligaments in the joints may also be eased by applying ice to the affected area.

Heat and cold therapies can effectively combat symptoms associated with inflammation, but such treatments should always be discussed with a physician before being instituted.

Lifestyle

Spirits & Cuisine

Best Beer Tents
in Munich for Oktoberfest!

If you are brave enough to fight the crowds in Munich this year here are a few suggestions for the best places to enjoy a local brew.

Lifestyle

 Lifestyle & Travel

Oktoberfest Began as a Wedding Reception!

Beer lovers who also like to travel no doubt include attending Oktoberfest in Munich on their bucket lists. The annual festival in Munich begins in late September and lasts for 16 days, during which people from across the globe gather to celebrate Bavarian culture.

A wildly popular folk festival held annually just outside the city center of Munich, Oktoberfest is a joyous celebration that includes food, dancing, music, parades, and, of course, beer. Some observers may note that the Oktoberfest celebration, minus the parades, closely resembles a modern day wedding reception. And such an observation provides a clue as to the origins of Oktoberfest.

Oktoberfest includes so much tradition that some revelers may feel as though it must trace its origins back many centuries. However, according to History.com, the original Oktoberfest took place in 1810. That festival was actually a celebration of the marriage of Crown Prince Ludwig of Bavaria to Princess Therese of Saxe-Hildburghausen. To commemorate the couple’s marriage, the Bavarian royalty invited the citizens of Munich to celebrate with them during a nearly weeklong feast that included plenty of music, food and dancing. The fields where the celebrations took place were renamed the Theresienwiese in honor the new bride, though celebrants now refer to this area by the abbreviated name of “Wies’n.”

While both Prince Ludwig and his bride have long since passed away, each would no doubt take comfort knowing that their nuptials are still being celebrated today, more than 200 years after they tied the knot.

This year, Oktoberfest celebrations in Munich begin on Saturday, September 21, and continue until Sunday, October 6.

Business Services

Business Acquisitions

 SWISS TRUST COMPANIES FOR SALE!

A Swiss Trust Company is a Non-Banking Financial Business Model that will operate for you as a holding entity and a flagship structure adding prestige and operational authority to any venture.  This totally unique corporate structure perpetuates the legacy and tradition of the Swiss financial industry and transitions smartly into any business undertaking that you may embark on.

Swiss Trust Companies are not banks but come as close as you can get without actually being a licensed Swiss bank. Thus, many of the authorities and advantages a bank provides become available to ownership without a large capital requirement and with much lower ongoing costs. Vintage Swiss Trust Companies bestow enormous advantages upon its owner due to its history and date of incorporation, which include the opportunity for profit & asset protection.

* Free E- Book:  “The Complete Guide to Swiss Trust Company Ownership”

Click Here for Your Free Copy