Are we finally on the brink of financial collapse? Maybe. Maybe not. Not trying to be dramatic, but the “sign of times” has suggested that we are approaching the economic tipping point.
What seemingly growing global economy is suddenly taking the downward path, “thanks” to the series of important financial milestones, such as the potential Grexit, the negative sentiment caused by the Fed's indecisiveness on interest rates, the devaluation of Yuan, and so on.
The Eurozone has been in crisis for years, and in the past few days, we have seen the meltdown started out in Asian region. Catalyzed by China's decision to devalue its currency to support export, smaller economies in Asia are feeling the immediate impact of the decision.
Vietnam devalued its currency, Dong. Indonesia's currency Rupiah – already down to a 17-year-low against the US Dollar – was in worse shape due to the Yuan devaluation. Malaysia's Ringgit, Thai's Baht, and other currencies in South East Asian region is also in a bad shape.
The fear for yet another Asian currency wars is becoming prominent among Asian countries' citizens.
If you think that those don't impact you, think again. When businesses are on the brink of bankruptcy, they will need to downsize. More unemployment – along with the rising prices – put up so much pressure on the citizen.
Businesses close down – naturally. Unrest happens – potentially.
The big question is, when that happens, what would you do?
We are not covering physical survivability, though – let's leave that to the doomsday preppers. Instead, we are covering financial survivability, because that what we are dealing with here at ICO Services: We help businesses and individuals to establish their headquarters and “safe haven” in politically and economically-stable jurisdiction offshore.
So financially-speaking, what can you do when a financial meltdown happens? In fact, the real question is, what can you do before financial meltdown happens?
We have good news and bad news. Let's break out the bad news first.
The bad news is this: The Economic downturn will happen, and that will – allegedly – be in a different scale (read: worse) compared to the 2008 downturn.
The good news is this: It's not too late. You can take action soon – even today.
It's quite simple: What happens to Greece and Greeks (banks gone bankrupt) can happen to you. And also what was happening to Venezuela, Germany, Argentina, Mexico and so on (hyperinflation) – could happen to you and your country.
As long as your country is run on currency that is not entirely backed by precious metal, you are at risk.
You may argue that economic downturn won't happen anytime soon, and global financial collapse is just a conspiracy theory. Nevertheless, there's nothing wrong in protecting your assets, in any scenarios.
There are some options that you can do, and as an International company services company, we can suggest you these solutions:
If you are a company: Setup an offshore company
It's only logical to move and setup your business' HQ to a safer, more stable location. Offshore jurisdictions like Belize, Seychelles, Hong Kong, United Kingdom and other countries offering beneficial regulations that are pro-businesses are the ones you should base your company in. Not only conducive rules and regulations, but those jurisdictions are also viewed as politically and economically stable – the best condition for business growth.
Other than tax benefits, your company can also access investment opportunities, such as purchasing real estate and precious metals in your company's jurisdiction, and so on. Transforming the 'risky' currencies into hard assets is the way to go.
If you are an individual: Open an offshore bank account
Unless you are a U.S. Citizen, offshore bank accounts are generally safe from your government's reach, simply because they are opened with a local banks that have no link elsewhere in the world.
Here's why where you bank your assets is important: Perhaps you are not aware of the fact that your Government can reach to your assets stored in a bank. Your bank can be ordered to freeze your account – including your safe deposit boxes – until further notice. This has happened to Greeks during the Greece crisis.
Not only keeping your money safe, secure and private, but you can also access some of the best banking services in the world from an offshore bank. How can they offer those, you might ask. Well, did you know that generally offshore banks are not making money by lending your money out. They make money from the commissions of your banking and investing activities. That's why their personal banking services are top notch – they sell services.
How can an offshore bank help you during a crisis? An offshore bank in SVG, for example, let you invest your money on hard assets, such as precious metals. We've mentioned that these kind of assets are the best way to protect from economic uncertainties.
As you can see, there are still solutions that you can use in response to challenging economy situations. We understand that those solutions may sound so new – and seems 'shady' to you. While we can't advise you in taking your decision – that's your lawyers' task – we can offer objective information on taking your business and/or personal assets offshore for better protection, legally.
Contact us and consult with us – free of charge, no gimmicks.