Investors Using Offshore Credit Cards to Enjoy Same Benefits as 83 of 100 Top US Companies

Jan. 20, 2009 - PRLog -- Recent revelations from the US Government Accountability Office (GOA) have turned attention to the number of US Companies that own subsidiaries offshore.

83 out of the largest 100 US companies are using offshore companies to potentially reduce their tax burden while 63 of those largest companies who benefit from federal contracts maintain subsidiaries in tax haven jurisdictions. In addition some of these same companies are on the receiving end of the US Treasury Department’s $700 billion TARP fund.

With ‘institutional’ US companies receiving federal contracts and bailout money, many personal and business investors are wondering why they are not benefiting from the same lucrative offshore tax breaks.

Although offshore bank accounts are de rigeur methods of protecting assets and allowing funds to grow in a less restrictive environment, many personal investors are still unsure how to repatriate offshore funds without sacrificing these same benefits.

Sending wires directly back to a domestic bank account could involve dangerous invasions of privacy whereas physically going to an offshore bank and withdrawing cash may also breach customs restrictions and invite the risk of theft.

For larger payments, offshore banks can wire funds directly to the vendor but the time and effort this involves would not be appropriate for smaller sums.

It is widely recognized that the easiest way of retrieving offshore investments is with an offshore credit or debit card. An offshore Visa or Mastercard will allow access to offshore funds from pretty much any where in the world.

Using Offshore Credit Cards

Although many successfully employ their offshore credit cards there are some pitfalls associated with their use, says David Finzer, CEO of Offshore Banking House Capital Conservator. For example a US citizen has recently ended up in court charged with tax evasion because he used his offshore card to buy luxuries in the US with un-taxed dollars from an offshore account.

Investors frequently use offshore credit cards in their home countries, however this individual did not count on there being video cameras in 400 of the cash points he visited. It is difficult to disprove video being caught on camera using a card with your name on it.

It is still possible to use offshore credit cards at home as long as certain precautions are taken, and if possible, a corporate or even an un-embossed offshore card is used. A corporate card for example can be used to legally pay for equipment, expenses or employee salaries for an offshore company.

Personal offshore credit cards are still suitably employed on holiday, or by regular travelers. Using the card abroad will carry less risk than using it at home, while you can still enjoy the benefits of your tax-free nest egg.

So next time you're out with your buddies, you can whip out your offshore Visa or Mastercard and graciously pick up the tab....They only have to know that you're doing so out of the tax savings from your offshore account if you choose to tell them.

But be careful, envy is a dangerous thing! :)

Interested? Secure your offshore credit card at http://www.capitalconservator.com/credit-cards/

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About Capital Conservator:

Uruguay based Offshore Banking House providing full range of offshore services.

Offshore Bank Accounts - Offshore Credit Cards - Unlimited Wire Transfers - Asset Protection Structures - Virtual Office Services - Company and Trust Formation - Dedicated Customer Service Team

http://www.capitalconservator.com