Offshore Asset Protection and White Label Debit Cards

Sept. 22, 2010 - PRLog -- For the individual or corporation that chooses to go offshore for asset protection and privacy a white label debit card program may be another useful offshore solution. White label debit cards are useful for a wide variety of purposes from sending money to employees far across the globe to paying online gambling debts after a losing round of Texas Hold’em. An individual or corporation can purchase these cards in bulk to resell or to use for a multitude of payment purposes.

A common offshore solution to asset privacy and protection is to form an international business corporation and/or an offshore foundation. In either case white label debit cards can be used by the beneficiaries of either the corporation or foundation for a variety or purposes, keeping the identity of the user away from prying eyes. For the individual or corporation that requires a measure of privacy in business dealings the use of a private, white label, debit card for paying hotel bills, restaurant checks, and the like may help keep industrial and business secrets in house and out of the hands of competitors.

Likewise, a company that wishes that its employees not be singled out in foreign settings can choose to use a white label debit card solution that will provide a measure of safety and security in all settings. The use of multiple cards that require charging before use can be a safety feature against the possibility of card loss or out and out theft.

A white label debit card program can be used for more than just paying hotel and restaurant bills. An offshore company with employees who work far afield will often use a white label debit card solution for reimbursing expenses and even paying salary. These programs come with what is essentially turn key software. They are easy to integrate with a company’s financial setup to give clear and comprehensive reports of money transfers, card use, and recipients of payments.

A white label debit card program can also be used to purchase cards in bulk and resell. It is not uncommon for a company to use a portion of its cards for company use and to resell the remainder. The program software will allow accounting personnel to sort out company and client use. When reselling cards the company will not dispense cards or recharge card balances until paid. This can become a profitable offshore business all on its own.

There are many offshore jurisdictions and many offshore solutions to asset protection and privacy. For those considering the use of a white label debit card solution it will be wise to consult with competent counsel before starting to set up offshore banking, corporate entities, or a foundation to make certain that the overall solution includes this very useful tool.

Asset protection is important. Having an integrated offshore asset protection solution in place takes planning and competent counsel. It is important not to let a small detail like the wrong credit or debit card ruin otherwise well made plans.

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