| Amendments have recently been made to | | | | offshore investment normally means investment |
| legislation in the Bahamas to allow for the | | | | management offered on a personal level to the |
| formation of Private Trust Companies. This is | | | | company or individual with disposable wealth |
| a demonstration of the government's | | | | exceeding $100,000. You should take care when |
| commitment to the delivery of superior | | | | you are thinking of opening a private bank |
| financial services to all clients. | | | | account. You need to be sure that it is the |
| | | | sort of bank that you would like to do |
| The government is in talks with stockholders | | | | business with. Offshore banking is not the |
| including International Trust Companies and | | | | same as private banking. You need to know the |
| Banks, The Bahamas Financial Services Board | | | | difference. Find out what banks hope to gain |
| and other financial institutions. Recently a | | | | from your investment before you open any type |
| seminar was held to discuss the review and | | | | of account. |
| use of legislation as it pertains to Private | | | | |
| Trust Companies. | | | | Private banking does not necessarily indicate |
| | | | investment. Banks like to lend money to |
| Private Trust Companies are formed for the | | | | wealthy people. If you deposit money with a |
| purpose of acting as trustees of single | | | | private bank that is not accompanied by |
| trusts. The majority of the world's wealth is | | | | borrowing or lending you are not likely to be |
| held by private individuals and their | | | | charged a fee. In the majority of cases these |
| families. Private Wealth Management is about | | | | banks will be hoping for more involvement |
| the preservation of that wealth. Private | | | | from wealthy depositors in the future. |
| Wealth Management for families involves the | | | | |
| creation of programs to generate wealth, | | | | Wealthy individuals are normally bombarded by |
| control the transfer of wealth from one | | | | offers from many different banks wanting them |
| generation to the next and protect wealth | | | | to deposit their money with their |
| from predators. These services are normally | | | | institution. Your residential status will |
| geared towards individuals with a high net | | | | normally affect whether you choose an |
| worth. | | | | offshore banking investment or a conventional |
| | | | banking investment. If you plan to reside in |
| Most international banks offer a special rate | | | | a high tax area or plan to do so in the |
| of interest to wealthier private depositors | | | | future then you will probably strive to make |
| and call it private banking. Minimums have | | | | an investment with an offshore bank. |
| dropped to under $10,000 in many cases. Many | | | | |
| institutions are catering for the client with | | | | Before you become involved with a bank you |
| $20,000 to invest in the hope that they will | | | | should try and find out everything about it. |
| have $200,000 or $2 million to invest in the | | | | You will be able to choose the right bank for |
| future. | | | | your specific needs after you have looked |
| | | | into what each bank can offer you. |
| A top offshore banking investment or private | | | | |