Wednesday, October 14, 2009

Swiss Bank Secrecy and Fishing Expeditions

Despite promises to comply with OECD regulations that would introduce greater financial transparency, swiss banks will not respond to ´´indiscriminate´´ requests for confidential account details, says the chief executive of the Swiss bankers association (SBA). Swiss bank accounts are still protected by the Secrecy Law, says Urs Roth, and account holders should not be concerned about their privacy unless they commit an act of fraud. Further, information will only be provided following ´´justified requests´´ related to specific individuals.

More on this story at capital conservator offshore news.

Tuesday, October 6, 2009

Capital Conservator Savings & Loan Limited

Capital Conservator is not a bank or bank introduction service. Through Conservator Savings and Loan, a Capital Conservator Group financial company, it accepts client deposits and holds them in its own accounts at partner banking institutions.

Although held in the name of Capital Conservator, each client account is held as a seperate sub-account, and client funds are legally seperate from those of Capital Conservator, or the Capital Conservator Group.

Further, the Capital Conservator Group supports its traditional deposit-taking services with auxilliary companies which provide the most private way of setting up offshore corporations, trusts and other structures for its clients.

Capital Conservator core group elements and services have operated for over 10 years. In 2007, Capital Savings & Loan Limited was added to the group structure to further support exisiting offshore banking services.

Monday, September 14, 2009

Capital Conservator and Bank Secrecy

A key aim of the Capital Conservator offshore banking service is to keep customer information private.

Capital Conservator has back-office support in Uruguay, a country with one of the strongest secrecy laws in the world.

Under Uruguay bank secrecy laws, covered persons:
''may not provide any information regarding funds or securities in checking, savings or any other account belonging to a natural person or juridical entity. They also may not report confidential information received from clients or regarding their clients. Referred operations and information are protected by professional secrecy and may only be revealed by the express written authorization of the interested party or by a well-founded resolution by Criminal Justice or competent Judicial authority when child support is at stake and in all cases, shall be subject to the strictest responsibilities of any damages stemming from lack of a well-founded request. No exceptions other than those established under this law shall be admitted. Those who do not comply with this article will be punished by three months to three years of prison.''

However, to maintain client confidentiality, relying on secrecy laws is not enough. This is why Capital Conservator no longer banks in Uruguay, nor relies on any one jurisdiction.

A more private solution is to use entities like the New Zealand Offshore Financial Company or trust companies, which are legally obliged to keep client confidentiality regardless of bank secrecy.

Tuesday, September 8, 2009

New Zealand OFC's (Offshore Financial Services Companies)

Capital Conservator S&L is an example of a New Zealand OFC. Offshore Financial Services Companies are not offshore banks but they are authorized to provide offshore banking services such as:

- Cash management services.
- Lending.
- Wire transfer services.
- Debit and credit card.
- Savings accounts, Deposit taking, Term deposits, Issuing of CDs.

Not all New Zealand OFC's decide to offer all the services granted by the New Zealand, charter - in fact many choose not to do so.

Capital Conservator Offshore Banking

What is Capital Conservator Offshore Banking?

The Capital Conservator account can be defined as ''Risk-managed offshore banking''.

Although not a bank, Capital Conservator is an example of an New Zealand Offshore Financial Company, which are entitled to provide offshore banking services.

Risk-Managed Offshore Banking

Capital Conservator monitors and maintains relationship with its banks like any prudent investment. To further this aim, it keeps numerous bank accounts in a wide portfolio of countries in order to maintain the highest degree of safety and confidentiality for its customers.

Customers hold accounts with Capital Conservator, which in turn holds accounts at various banks worldwide - this gives the customer a choice of banking options, and eliminates the burdensome procedure of opening new bank accounts in foreign countries.

Given that bank secrecy in any one country is never guaranteed, Capital Conservator aims to maintain privacy for its customers by monitoring the geo-political climate - never assuming that a bank/country that was ''safe and private'' in previous years still fits the bill.