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Originally Posted by Daruma
hey webby - any good ones that you know of ?
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All the main banks are fairly similar and competitive offering various "tools" to collect interest. A friend is a director of Scotia Bank Latin America and they literally offer all the usual services of the parent bank in Nova Scotia - CD's etc. The only difference is they must comply with the laws of the offshore area and no data is supplied outside that offshore jurisdiction - ie to the parent company.
One thing about Panama in particular, - it's prob currently the strongest offshore area, but with one exception, which may, or may not, be relevant. There has been a slight change where Panama now has a MAT (Mutual Assistance Treaty) with the US.
Also not sure if this is relevant - there are many opportunities to earn far more from capital by eg investing/purchasing real estate in areas of Latin America and the returns are far more than any bank could offer. Currently certain areas have been appreciating in value between 40%-60% per annum over the last five years - and still increasing yet. Also, any such investment can be held in, eg. a Panama corp with full privacy. Just a thought
