Asset Protection With Offshore Banking
Offshore banking for asset protection is a management plan that includes the following:
the company must be incorporated from outside the jurisdiction in question, the company must not trade within the jurisdiction in question, and the company must meet nominal tax fees levied by the jurisdiction in question.
Corporate management plans for asset protection, international planning, offshore banking, and wealth management may include advisors for specific details (e.g. Carlo Scevola and Partners). These plans may unfortunately encounter issues of unfair competition rules, offshore banking for asset protection rules, product liability laws, sharp practices principles, securities regulation, labor and employment laws, and tax and accounting standards for foreign multinational enterprises operating within a territory.
Corporate and individual investors may benefit from asset protection, foreign jurisdiction and offshore banking, investing in securities that pool multinational funds, and foreign portfolio managing because of the, also, unlimited expertise that may be gained from international or offshore banking and asset protection.
Applications: Laws and Expertise
1) Harry's Hats currently competes with Charlie's Caps in the American straw hat market. Sahara Straw, an Egypt-based company, currently exports straw to both companies for use in production. If Sahara sells straw to Harry's at one-half the price it sells to Charlie's, can U.S. antitrust laws be applied to Sahara?
Yes, this is a violation of the antitrust laws in the United States. This appears to be purposely anticompetitive behavior intended to impact American markets.
2) Rob Resident and Mark Mower entered into a written contract in which Mark is to mow Rob's lawn. There is no written mention of the time of day the lawn is to be mowed, or the type of lawn mower to be used. In case of a dispute, how might the contract be interpreted in various courts?
In a U.S. court, the contract would be interpreted according to the precise terms in the agreement. In a Japanese court, emphasis would be on the relationship between the contracting parties, with alterations being accommodated as conditions change. In a German court, the court officials would refer to the standard practices in that particular industry.
by: Peter Robertson
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