Released on: October 2, 2008, 11:22 am

Press Release Author: Brett Schoneman / Offshore Company

Industry: Financial

Press Release Summary: “Many investors are placing part of their hard-earned money
out of harms way into foreign banks that do not have exposure to the U.S. sub-prime
mortgage crises,” says Kevin Wessell, CEO of Offshore Company,
www.OffshoreCompany.com. Mr. Wessell is also the author of “Build Your Financial
Castle” and a nationally renowned asset protection and investment seminar speaker.


Press Release Body: The Federal Deposit Insurance Corp. seized WaMu on Thursday, and
then sold the thrift's banking assets to JPMorgan Chase & Co. IndyMac Bank was the
second largest bank failure in U.S. history. The head of the FDIC recently said in
a meeting in San Francisco that many more bank failures will likely occur in 2008.
Could your bank be one of them? Many of the IndyMac deposits were not insured,
thus, depositors will lose millions, if not billions of dollars. Many advisors say
it may be time for investors to diversify internationally and put their money out of
harm’s way.

Europe has multitudes of large, safe, banks without exposure to the damaging U.S.
mortgage disaster. In contrast, many U.S. banks are sitting on shaky ground. It is
said that two banking giants, Washington Mutual and Bank of America – with the
acquisition of Countrywide Financial – have substantial sub-prime exposure. This is
not to say one should necessarily lose faith in these giant organizations. It is
just to say that they are feeling the financial pain of the recent disaster. First
National Bank of Nevada, based in Reno, Nevada, and First Heritage Bank of Newport
Beach, Calif., were both shut down by federal regulators recently.

Which countries have the safest banks in the world? Switzerland and Sweden. So,
how safe is your Swiss bank account or your deposit in a Swedish bank? Switzerland
depositor protection, for example, is governed by the Swiss Bankers Association’s (
SBA ) Depositor Protection Agreement. Since July 1, 2004 it was also written into
law in the Swiss Banking Act. The Act adds several additional requirements that
have substantially strengthened depositor security in Switzerland. The revised
Depositors’ Protection Agreement covers all deposits and also applies to non-bank
securities dealers. Protecting depositors is essential in maintaining public
confidence in the Swiss banking system. In order to solidify this confidence, the
SBA had drawn up a self-regulatory Depositor Protection Agreement with its member
banks in 1984. This agreement guarantees that, in the event of a bank failure,
depositors will rapidly receive their legally privileged claims. As an additional
safety measure, Swiss law demands high capital adequacy. Swiss banks can therefore
certainly be counted amongst the safest in the world.

In fact, the Swiss franc is considered one of the world’s premier currencies with
virtually zero inflation and has been historically backed by at least 40 percent
gold reserves. Swiss banks are also known to have very sophisticated investment
services and Internet banking.

“The first step in establishing a foreign account is to establish an offshore
company, since many foreign banks will not open accounts directly with U.S. people
or companies. The next step is to open the bank account in the offshore company
name,” states Mr. Wessell.

“It is very important to note that U.S. people are taxed on worldwide income. So,
this is not a tax avoidance strategy, it is a fully-reported financial
diversification and asset protection move. The U.S. and many other governments are
cracking down on those whom use offshore trusts in an attempt to avoid paying taxes
or hide money from their governments. Offshore Company ensures that its clients
offshore trusts are set up and filed properly and meet government legal
requirements,” emphasizes Mr. Wessell.

Mr. Wessell’s advice to those thinking about offshore banking. “Don’t try setting
up an offshore trust by yourself, unless you are experienced with offshore banking.
Use a professional service that understands the offshore banking laws as well as the
laws of your government. Remember, the government will go after people that not
only try to hide their accounts from the government, but those that make mistakes
setting up the trusts or improperly file the paper work as well. Ignorance is not
an excuse that will save you from governmental action and when you are dealing with
a large amount of money and very stiff penalties for mistakes, why take chances.”

For more information about offshore banking and offshore trusts, call 1-800-959-8819
for a free consultation.


About Offshore Company
Established in 1977, Offshore Company serves businesses and individuals with
creating offshore companies, offshore banking services, incorporating services,
establishing LLCs (Limited Liability Companies), tax reduction strategies, asset
protection and privacy programs.

Offshore Company is based in the Los Angeles area at 28015 Smyth Drive, Santa
Clarita, CA 91355. Telephone number: 1-800-959-8819. The website for Offshore
Company is: http://www.OffshoreCompany.com

About Kevin Wessell
Mr. Wessell is a nationally renowned business planning expert, seminar speaker and
CEO of Offshore Company. He has over 17 years experience helping people incorporate
businesses and quickly build corporate credit.


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Offshore Company
28015 Smyth Drive
Santa Clarita, CA 91355
Contact: Brett Schoneman
661-310-2807


Web Site: http://www.OffshoreCompany.com

Contact Details: Offshore Company
28015 Smyth Drive
Santa Clarita, CA 91355
Contact: Brett Schoneman
661-310-2807