Corb7 International October 9, 2019 Newsletter

International Business

Feature

The New “Swiss Light Banking License”

Switzerland has simplified the regulatory requirements for Fintech companies which accepts public deposits. This regulatory simplification, which was implemented on January 1, 2019, shall allow for a “Swiss Light Banking License”. The regulatory change will greatly reduce the financial requirements for FinTech companies that accept public deposits.

Under previous regulation, the operations of many FinTech companies often fell within the scope of the Swiss Banking Act and therefore required a full Swiss banking license from the Swiss Financial Market Supervisory Authority (FINMA). This Class One Swiss Banking License carries a substantial financial and organizational obligation, and has an onerous licensing process, which has kept many companies out of the Swiss market. For that specific reason, the Swiss Federal Council and Swiss Parliament created a legal framework for FinTech companies.

The new regulations include a “sandbox exemption”, that allows FinTech companies to engage in certain activities which under the previous rules would have triggered the need for a banking license.  In general. these companies may accept deposits up to a maximum of CHF 1 million without a full banking license, so long as such assets are not invested or interest bearing.

If you have an interest in learning more, please feel free to contact our offices for a consultation.

International Business

Business Psychology

Own the Day / Own Your Life!

We recently completed the book “Own the Day, Own Your Life” by Aubrey Marcus.  This is an excellent work that we highly recommend.   You have one life and one shot at living the best life you can and this book gives you a lot of ideas and potential habits to accomplish it.  Take a look at the video above an if you like it, we suggest reviewing his YouTube videos which offers a vision experience to many of the chapters of this book.

International Business

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Lifestyle

Executive Fitness

Foods that Fight Inflammation for Better Health!

The human body and its immune system excels at fighting foreign invaders like bacteria and viruses. Signaling chemicals called interleukins tell cells whether they are needed to fight illness or they should wait in the wings. While these immune defenders are doing their jobs, soreness, fatigue and swelling can occur – the natural side effects of an immune system response – but will soon dissipate.

However, many people deal with immune systems that are consistently revved up, even when no invaders are present. This is the problem with many chronic diseases and immune system dysfunction. Unfortunately, the inflammation that is a hallmark of immune defense becomes a daily problem that may result in chronic pain and other complications. What many people may not realize is that the foods that they are putting into their bodies may exacerbate inflammatory responses, while others may help keep inflammation at bay.

People with rheumatoid arthritis, Crohn’s disease, Hashimoto’s, and other chronic illnesses may find that turning to the right diet can tame inflammation and other symptoms. Recently, many health experts, including Dr. Barry Sears, founder of the Inflammation and Research Foundation and author of the “Zone Diet,” and Dr. Andrew Weil, who offers the Anti-Inflammatory Food Pyramid, have begun to tout certain foods that are purported to reduce inflammatory response over an extended period of time.

As beneficial as some foods can be, it’s important to note that individuals are unique and certain foods may produce a particular response in some but not in others. Systematically isolating certain foods can help paint a picture of foods that can be problematic. But generally speaking, refined carbohydrates, sugar-sweetened beverages, fried foods, and processed meats may increase inflammation, advises Harvard Health Publishing. Conversely, certain foods and beverages that have been identified as reducing inflammation for many people. These include:

• tomatoes

• olive oil

• green leafy vegetables and cruciferous vegetables

• nuts, like almonds and walnuts

• fatty fish

• berries

• avocados

• green tea

• peppers

• grapes

• turmeric

• dark chocolate

Including these foods in one’s daily diet may help to relieve the pain, bloating and fatigue associated with inflammation.

Lifestyle

International Spirits & Cuisine

Pairing Food with Beer!

The rise of craft and home brewing has created more beer flavor profiles than ever before. In fact, there’s likely a beer for everyone, whether you’re a novice or connoisseur.

The Brewer’s Association, a trade association that represents small and independent American craft brewers, reports that, in 2018, small and independent brewers collectively produced 25.9 million barrels and experienced a 4 percent total market growth. The BA also states that these small brewers achieved a collective retail dollar take-in of $27.6 billion.

While wine will always have its enthusiasts, beer is fast on its heels as a popular mealtime beverage. Much in the way wines are paired with certain foods, it has become the natural course of action to pair certain foods with particular styles of beer.

“Beer is a great match for food because of the complexity of its flavors, its ability to provide refreshment and to interact with many food flavors,” says Marc Stroobandt, a master beer sommelier for the Food and Beer Consultancy, UK.

Although each person has his or her preferences, here is a brief listing of generalized pairings, courtesy of the Brewer’s Association and CraftBeer.com.

• American Amber Lager: Creamy risotto, wild rice, polenta

• American Pale Ale: Game birds, such as duck and quail

• Belgian-style Dubbel: Pork chops, sausage, tenderloin

• Belgian-style Flanders: Grilled ribeye, root vegetables

• Blonde Ale: Chicken, salads, salmon, nutty cheese

• Dark Lager: Barbecue, sausage, roasted meat

• Hefeweizen: Weisswurst, seafood, sushi

• Imperial Stout: Smoked goose, foie gras, strong cheeses

• IPA: Spicy foods, curries

• Porter: Roasted or smoked foods, blackened fish

The Brewer’s Association recommends matching delicate dishes with delicate beers and strong dishes with assertive beers. Commonalities, like aromas and sub-flavors, also work together. A beer with roasted notes may pair well with chocolate, for example. Opposites also attract, in that a spicy food may taste best when paired with a sweet beer.

Pairing might once have been limited to matching wines with certain foods. But the booming craft beer business has popularized pairing flavorful beers with foods to make meals even tastier.

Lifestyle

Living & Traveling Offshore

Best Countries for Retirement

Many couples look to downsize once they retire. Empty nest retirees may no longer need their large family homes, which can be expensive and difficult for seniors to maintain. While some retirees choose to move into senior living communities or condominiums, some opt to be a bit more adventurous and venture further from home.

A number of retirees choose to spend their golden years abroad. Doing so can equate to a more adventurous retirement, a lower cost of living and the ability to stretch retirement savings much further than if you decided to stay closer to home. Many of the more popular international retirement locations offer beautiful climates, culture and health care systems that are hospitable to retirees.

Affordability is a key consideration for men and women mulling whether or not to retire internationally. According to U.S. News and World Report, retiring overseas may run the average person anywhere from $700 to $1500 USD per month. Those who can offer higher budgets may be able to retire to any location of their choosing.

Before you make any drastic changes, first calculate your retirement budget. Add up retirement savings, Social Security income (if applicable), pensions, and any other investments or savings you may have. Have an estimate of the market value of your current home and any other property you may own. These figures will be your working numbers. Subtract your age from your estimated life expectancy and divide the retirement funds sum by that many years to see how much per month you will have to spend.

Once you have established your budget, begin investigating where you would like to live. Argentina, Ecuador, Belize, Costa Rica, and France are some of the more popular retirement locations among North Americans. Once you’ve selected a potential location, take a vacation there and explore. In addition to the climate, check out the infrastructure, shopping, medical services, amenities, and crime rates. Try the place on for size and figure out if this is an area where you can comfortably spend your retirement.

Once you have narrowed down your prospects, contact your native country’s embassy to determine what will be needed to legally live in a foreign country and obtain a visa. Some places are more accommodating than others with regard to residency visas.

It also pays to contact an accountant or tax professional to see what, if any, taxes you will still be required to pay even if you move abroad. Your obligation may be less than if you chose to stay closer to home.

Another consideration is health insurance. Government-sponsored plans may not cover services overseas, requiring you to find an alternative insurance source. The good news is that many international plans may be more affordable than ones found in the United States.

Retiring abroad does not mean you have to cut all ties to home. Some couples choose to keep dual residency and fly back and forth when necessary. But the slower pace, affordability and other draws of international retirement spots could be challenging to leave behind.

AARP, Forbes and International Living routinely rank the best international retirement destinations. Check with these sources for more information about retiring abroad.

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.

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