| March 25, 2012 |
| Offshore Investment News |
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Dear ,
Five months have past since we started publishing this newsletter and in these twenty weeks, every week, several of you have have asked questions on how to invest offshore, in your unique circumstance.
All along we're promised to connect you with the best information, from respected sources, often in the form of a legal opinion, from prestigious International law firms. In every case we've been able to provide you with astute answers and solid professional advice.
We have been inspired by the wonderful people we've met and empowered to continue helping as many more people as we can, always a free exchange of information, because we believe; that everyone who can, should invest offshore.
Aaron A Day |
| More writing on the offshore wall |
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Offshore bonds sales are being suspended by Aegon and others...
Many Expats have purchased an Isle of Man, Ireland, or other Personal Portfolio Bond (PPB) and were told at that time that all growth would roll up without tax reporting. WRONG (Other company's that sell PPB's are Friends Provident, Generali, Royal London 360, Hansard, Royal Skandia etc).
Aegon has been forced to suspend sales of one of its offshore bonds after the Government announced a clamp down on certain segmented products.
Documents published alongside the Budget seek to restrict the use of offshore bonds which are structured so that any gain made across the whole bond arises in only one segment or policy.
Currently these bonds allow withdrawals from all the other segments, where the gains do not arise, without fear of a chargeable event arising.
The change will ensure that all policies are treated as one policy in the event of a chargeable withdrawal. This effectively attributes a share of the gain to all the segments.
Aegon and Canada Life both have offshore bond products which allow clients to split their money into different 'segments'.
Aegon manager of investment products, tax and regulation Margaret Jago says:
"We have looked at the Budget amendments and we believe one of our bonds is potentially affected by the legislation.
"We have taken down our quote system as a result because we do not want people entering into the wrong contract."
Canada Life was unavailable for comment.
Standard Life head of pensions policy John Lawson says:
"This change will have big impact on providers which have offered this specific type of bond product."
The Budget documents also contain a clamp down on gains arising in offshore bonds for non-domiciled individuals being used to offset gains when they become a chargeable event in the UK.
The writing on the wall says that the only offshore strategy that is bullet-proof, is a for Private Placement Life/Annuity, as part of a Registered, Recognized International Retirement Plan, which do qualify, and are recognized as tax deferred roll up plans.
Request more information. |
| Axiom wins Award for Best Credit and Lending Fund Manager |
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 Tangerine Investment Management won the award for Best Credit and Lending Fund Manager at the 3rd annual Hedgeweek Awards ceremony in London. This was for their work in managing the Axiom Legal Financing Fund.
The annual Hedgeweek and Hedgeweek USA Awards recognize excellence among hedge fund managers and service providers around the world. Uniquely, they are based on a peer-review system of professional fund administrators, prime brokers, custodians and advisers.
The awards, presented at a lunch in London on March 2nd 2012, were decided by the votes of the weekly online publication Hedgeweek's 41,000 subscribers, who include institutional and high net worth investors as well as managers and other industry professionals such as fund administrators, prime brokers, custodians and advisers. Tim Schools and I would like to thank all of you who voted for us.
The fund has also been nominated in 2 categories for the HFMWeek awards on 28th March - Best Market Neutral Fund and Best Newcomer.
Request more information about the Axiom Legal Financing Fund. |
| Let's talk about IRA structures. |
There are three basic options:
1. Conventional IRA. This is 95% of IRA assets. Let's call it the
default. This is where the custodian is also your broker (Fidelity, Schwab,
Scottrade). You have access to stocks, bonds, and maybe some CDs.
Sure, that's a few thousand 'options', but the markets haven't done
anything for 10 years. You may trade on the account yourself or have it
managed. Either way, they only allow you to hold assets they will make
money on when you trade them. And if it's managed, you pay them 1%
whether they make you money or not.
2. Self Directed IRA. You may have heard of these, or maybe a friend
has one. A SD-IRA is one which expands your investment options. Now
the custodian will acquire real estate, private placements and other assets
using your IRA funds. Finally you have real options within your IRA. Only
one problem. The assets are still held by the custodian. This means if you
want to make an investment you can count on high fees, long delays and lots
of paperwork.
3. Open Opportunity IRA. This may be new to you, but intelligent
investors have been using it since the early 1990s. An Open Opportunity IRA
is a self-directed IRA with a twist. You still have a custodian, however rather
than the custodian acquiring individual assets. They acquire a single asset.
An LLC. Not any LLC, and LLC MANAGED BY YOU, owned by your IRA. That's
right, give yourself a title; President, Manager, Chief Investment Officer. You'll
end up in this title of an asset holding company for your IRA. Here you get the
investment options of a self directed IRA, without the large fees or delays.
Request a free evaluation from a qualified adviser. |
Caribbean premium property for sale ~
on Galley Bay Heights, Antigua |
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The land at Galley Bay comprises of 2 parcels:
- 1.85 Acre approx
- 2.75 Acre approx
Prime location within the Galley Bay Heights High-end Development
From both parcels you have panoramic beach, ocean and sunset views, and you are approximately 1-2 minute walk to the stunning Galley Bay Beach and the tranquil Shell Beach.
The land has had full approval from the DCA for 40 x high-end luxury apartments with a boutique style club house, in the year 2007-8 we had 75% of the development sold out, receiving reservation deposits with apartments starting from USD$795,000.00 upwards to USD$1.5M. All the financing was approved in principle and the owners also had the government approval, concessions and successful ground breaking day. Unfortunately for them there was a covenant restriction on a section of the land which dated back into the archives which we had to ask the courts to uplift the restriction before they could develop the land, which came up against a strong objection from the neighboring 4 star Galley Bay Resort/Hotel.
The bottom line: courts in Antigua (like anywhere else in Caribbean) take forever, which was no exception in this case, which they eventually won (3 years later)!
Whilst they won, and the covenant has now been lifted from the title deed at the land registry office, they lost the opportunity of development, at the time of the real estate boom, and so returned all deposits.
The owners have decided now to sell the land at a dramatically reduced price. Please note:This property is neighbors with Giorgio Armani, who is developing his land in July 2012, for a value of approx. USD$7-8M.
Within the Galley Bay Heights Development the villas are from USD$2.5M up to USD$8M, recently a couple villas sold in the USD$3-4M bracket
In regards to price, the owners have not listed the lands/development site openly on the market, but they turned down an offer for Parcel 1 (1.85 Acres) of USD$1.25M (net of taxes) which they believe was from Giorgio Armani's agent. The owners would entertain offers of USD$1.5M and USD$1.75M for Parcel 2 (2.75 Acres), or both parcels, reduced dramatically to USD$2.5M.
Request an introduction to the property owners in Antigua |
| Karatbars International - Gold Program |
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The Karatbars group based in Germany, Belize and Thailand are bank-independent trading houses for merchandise and precious metals, especially Gold bullion in the form of a card in small denominations.
Karatbars International is an Internet trading company and its products are shipped worldwide to an expanding list of countries. They offer one of the most extraordinary range of products on the market. "Atasay Sanayi Ve Ticaret AS Kuyumculuk" of Turkey are the producer and supplier of the one-gram gold bars of the brand "ATAkulche".
 Karatbars International is listed with the London Bullion Association Market (LBMA).
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