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.
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