How to Profit From an Offshore Financial Company – Online Banking Operation

An offshore financial company (OFC) such as a New Zealand Offshore Financial Company (NZOFC) is commonly set up by those doing business offshore. An OFC is typically set up in order to reduce banking costs by those requiring international banking services. Because of the low capital requirements and low cost of setting up an OFC in a location such as New Zealand it is possible for a New Zealand Offshore Financial Company to gain substantial profits from its banking services.

Banking services of a NZOFC can include the following:

  • Taking Deposits
  • Certificates of deposit
  • Checking and savings accounts
  • International credit and debit card services
  • Loan services
  • Wire transfer services
  • Trust account services
  • Cash management services
  • The issuance of financial instruments and guarantees
  • Payment processing services
  • Marketing of investments
  • Fund management

There is no limit to how many customers the company can have, how much can be received in deposits, or the number of type of currencies in which accounts can be held. Customers can be from anywhere in the world. The one strict limitation is that the word “bank” cannot be used in the company name.

Deposits

A NZOFC can take money for deposit so long as the company is independent of the depositors. The monies deposited can be used to buy securities such as bonds currently paying up to 4.5% with a lower rate being paid to account holders. So long as deposits are invested in securities registered with the New Zealand Revenue Service, the interest earned by account holders will only be subject to a 2% withholding tax when interest is paid. This requires that the NZOFC register under the Approved Issuer Levy.

Checking Accounts

Depending upon the limitations placed upon withdrawals a NZOFC can offer varying rates of interest, always set so that the company profits from the accounts.

Savings Accounts

With deposit monies locked in for longer periods of time a NZOFC will typically pay a higher rate of interest to savings accounts.

Certificate of Deposit

A NZOFC can set up CD’s much like any bank, paying better interest on longer terms and pairing these monies with investments in better paying instruments. As with other banks the NZOFC can levy penalties for early withdrawal sufficient to cover expenses.

Credit and Debit Card Services

A NZOFC and issue both debit and credit cards, charge for the cards, and charge interest on the outstanding for a credit card. A NZOFC can offer a range of debit card programs including the following:

  • Dividend, Incentive, Forex payouts, Employers, Contract Agencies
  • Membership based affiliation applications i.e. Credit Unions, Banks with an existing account holder base
  • Loan, Benefit Payout Applications i.e. payday, micro loans operations
  • Insurance payout program, Pension payout program
  • Commission payout applications Network Marketing Organizations, Affiliate payout
  • Travel, Remittance Card Programs
  • Gas stations, Telecommunications, cellular phones companies, cable TV companies, department stores, supermarkets
  • Gaming and gambling industry: casino sites, online poker rooms, sports betting websites, waging websites, etc.

Loan Services

Loan services are explicitly allowed in a New Zealand Offshore Financial Company. Interest rates are set by the company giving the company the potential for a substantial profit on well chosen and managed loans.

Wire Transfer Services

These are allowed in an NZOFC and are often a major reason that customers come to a New Zealand Offshore Financial Company.

Trust Account Services

A New Zealand Offshore Financial Company can offer trust services just as a non offshore New Zealand bank can.

Payment Processing

With far flung operations many international companies find it difficult to pay their employees working in the four corners of the globe. Likewise the same companies often can use help collecting from and doing the accounting for multiphase business transactions. A payment processing service can be a lucrative business for a NZOFC.

How to Run an Offshore Bank in New Zealand

Banking Software

If you start an offshore financial corporation in New Zealand you do not need to re-invent the wheel in a banking sense. The company can pick and choose the services it wishes to offer and can take advantage of computer systems specifically designed of offshore banking.

There are online banking systems available for offshore financial institutions. There are scalable for small operations up to the size of large private international banks. These systems support the work done by savings and loan associations, investment funds, payment processing, and more. There are several of these software systems available and many companies that use them. Asking for references may be useful in deciding which software to use and just how much of the package to purchase at the beginning.

Manpower Requirements

The bulk of the operation of a NZOFC will be online. The “back office” work need be done in New Zealand. Just as companies in North America outsource so can your New Zealand Offshore Financial Company. By limiting services and the offer of securities to individuals and corporations outside of New Zealand many of the more time consuming tasks of running a NZOFC will be done away with.

The fact that the operation can be run without a person ever needing to come to a bricks and mortar office will greatly reduce building, equipment, and employee overhead. The fact that a NZOFC is not subject to reserve requirements makes the capital investment less that with a regulated bank in New Zealand. Directors and shareholders can be of any nationality and residency.

As with all business endeavors there are capital costs including the paperwork of setting up the offshore financial company and buying and training staff in use of the software required. Although the country of New Zealand will not require a capital requirement it will be wise to have a capital reserve for starting up and the various costs of an ongoing business. Much of the work, if well designed and planned, can be outsourced. It setting things up it will be well to seek out competent business, tax, and legal counsel.

Making Money Online in Uganda – A Quick Guide

In this ever changing world, it is always important for you to think outside the box and not rely on a single income or even rely on your formal job. Let’s face it, the world is increasingly becoming expensive and we would all love to live a certain life style. Unfortunately, not many of us can afford the lifestyle we would like to have, at least not with single formal employment. The fact that there is a high rate of unemployment today does not help the situation and this goes for both the educated and the uneducated alike.

This, therefore calls for ways of how to make extra money to increase your income base. One of the ways that you could make some extra money is online. However, the question would be how you go about making some money online, especially given that the World Wide Web is filled with con artists and some not so honest jobs. Contrary to what you might think, it is actually possible for you to make money online without necessarily doing illegal or immoral things. Below are some of the legit ways of making money online in Uganda that have been tried and tested.

Article or Content Writing and Rewriting

Writing is not only reserved for journalists but can be done by all who have a passion for it. If you love to read, then I guarantee that you can write as well, or at least you can learn to do so. There are a number of legitimate sites online that connect article writers to those who would like content to be written for them. Not that you will get a highly paying job as soon as you start, but like all things in life, your reputation will speak for itself. Slowly build a clientele and in a short time, you will have so much work to do, that you may not be able to finish it all. Some of the sites that you could start with are freelacer.com and fiverr.com among others. You could also look out for some blogs that are looking for paid content.

Affiliate Marketing

Sell other people’s products online and make money. Affiliate marketing is that simple. If you have your own products, you could sell those but if you don’t, all you might need to do is pay a small fee to access other people’s content and start marketing it or selling it on their behalf to earn a commission.

Start your own Website/Blog

You need not have a degree in computer engineering or programming to start your own website. There is so much content online as to how to start your own website right from choosing a domain to templates and design. Create your own website, post attractive or good content, get visitors and start earning money. However, for this to be a viable income generating activity, you need to employ some bit of creativity. Create a website that has content which will attract as many visitors as possible. Remember that the more traffic you receive on the site, the higher your earnings.

Surveys and Reviews

There are several websites online that offer payment for surveys and reviews of different products and services. You might be required to write reviews about certain products or take surveys on them. However, it will also require you to supply certain information to that website for example your credit card information or banking details. It might also require that you purchase the products or try out the services for you to be able to offer a proper input as to their quality. However, it is of utmost importance that you be careful when supplying your bank details since they can be used by fraudsters to rob you. In other words, only deal with websites that are genuine and remember that if a site is offering money that seems too good to be true, it probably could be a scam.

Virtual Assistantship

It is possible for you to work from home and work as a virtual assistant to businesses or companies that need help doing things like answering phones, responding to emails, data input and any other administrative support. You will most likely work with businesses that are too busy to do the work themselves and are looking for a work force that is not too expensive yet effective at the same time. You could choose to do this as a solo or make a company and partner with other virtual assistants especially if you are looking to dealing with big companies that might have loads of work. You too do not want to be overwhelmed and seem ineffective in the work given.

Data Entry

Many may argue that automation is threatening this kind of work today but I assure you there is still lots of data that needs to be entered in many companies in the world. This is one of the easiest jobs you can do online since it doesn’t require any special skill other than having a good typing speed and dedication. So if you get a data entry job, take it not for granted but do it effectively and it could bring for you some good money.

Gaming and betting

Gambling is also another thing that you could look into, though it is often best that this is combined with another job all together. For you to benefit from gaming, you need to do it responsibly and also understand the kind of game you intend to invest in. For example, if you are a football fan and understand the game and teams well, you are probably best placed to focus on betting on football than going into say, horse racing.

The ways of making money online at home are endless and it is not possible to exhaust all of them in one single article or go. But whatever you try, remember that like all other jobs, you may have to start small and slowly grow your business. You could choose to do online work as full time or simply take it on on a part time basis as a way of earning some extra money. Whatever you decide, the work is out there and you need only go out and search for it.

The 40 Percent Rule

What is the 40 percent rule? Well for starters it is a game changer when it come to building wealth. I have read over 100 books on investing and personal finance. I do not recall coming across the 40 percent rule. I discovered the rule by reading The Millionaire Playbook, by Grant Cardone.

I got excited when I read it. It gives a different perspective on building wealth. An aggressive game plan to help you become a millionaire. One concept is saving to invest. Not saving to save. That’s where the 40% rule comes in. Save 40% of your gross income and put it into your “Sacred Accounts” until you are ready to invest it to create more income. Sacred accounts are accounts where you never touch the money.

40% of your income is some major cheese from your paycheck. That is a huge lifestyle change especially if you are living paycheck to paycheck and in major debt. This will leave you broke most of the time but it is how the wealthy build their wealth. This is how the wealthy stay… WEALTHY.

Rich Vs. Wealthy

There is a difference between rich and wealthy. You get rich before you get wealthy and as Chris Rock said, “The ball player is rich, the guy paying the ball player is wealthy.” Bruckminster Fuller said wealth is measured in time. How long can you not work while your assets produce income? Wealth produces more wealth and it can withstand economic downturns. Look how many people stayed wealthy during the past recession.

How to Do the 40 Percent Rule

First decide that you are going to start building wealth. It’s simple not easy. Take baby steps. I couldn’t save 40% in the beginning and I was already putting 20% of my income towards paying down my debts. So I started with 4%. That was manageable and I moved up gradually. Now it’s automatic and I don’t even miss it.

If you read The Richest Man in Babylon, by George S. Clauson, then you are familiar with, “A Part Of All You Earn Is Yours to Keep”. Saving 10% of your income and 20% to pay down your debts. Now just bump your saving up to 40%. As I mentioned earlier it is a game changer.

Sacred Accounts

Remember this is wealth building. You are saving so you can invest into income producing assets. This will take time. Use time wisely. Research investments that will produce more income streams. I chose real estate because it is not a fad and dependent on technology. People need to shop, eat, and live. Real estate takes care of that.

Emergency Fund

I suggest you have an emergency fund. Start with $1000. It is for emergencies only. Life always brings a crisis several times a year. But ever since I have had an emergency fund I haven’t had any financial emergencies. I have had this for several years. I have never had to dip into it. This is not an investment. It’s cash to take care of the unforeseen.

Your Income Increases

Stash away all of your bonuses, raises, and surges of income. Put that in your sacred accounts. You don’t want expenses rising to meet income. Continue to drive a wedge between expenses and income. Put all your increases into the sacred accounts.

Pull The Trigger

After some time you will have enough to start investing. I don’t know how long it will take you. I know my mentor saved for 8 years before he pulled the trigger. He turned that investment in to a $5 million dollar profit a couple of years later. He pulled the trigger after he felt confident and made sure he could get his money back. This isn’t gambling.

He got a great deal because he had access to cash. Money loves speed and when you are liquid you can pounce on opportunities. There are awesome deals everyday which people miss out on because they don’t have access to capital. This is why saving to invest is so important.

Just Start

Here is what you need to do now:

1. Open up your sacred accounts. (I have one for real estate and business investing). Chose accounts where you will not have immediate access to the money. Online savings accounts are great and pay a higher interest rates.

2. Decide how much you are going to save. Start with your first paycheck, commission, or any other income. Even if it is 1% that’s better than nothing. It’s easier if you have automatic deductions. That way you won’t miss it.

3. This is a lifelong activity. Keep going until you die.

A Review of the eLottery Syndicate and Virtual World Direct MLM Program

Even though the launch date for eLottery Syndicate and Virtual World Direct was April of 2002, it wasn’t until 2006 that they became a well known force around the internet outside of the UK. Founders Tom Brodie and Len Fitzgerald organized a unique lottery system where affiliates and players can both become winners in a booming industry. Giving people better odds to win was only a small idea to a bigger picture, it will be interesting to see just how big it becomes in the future.

Getting an Edge

If this is your first time coming across information on eLottery Syndicate and Virtual World Direct, the object is quite easy. Anyone who has ever played the lottery before has the understanding that in order to win, the odds are definitely not in your favor. This company has changed that using two different jackpots which revolve around the UK National Lotto and EuroMillions. The chances of winning is increased by unheard of amounts, which range from 700%-3600% between the two lotteries.

What Everyone Else is Saying

Testimonials are important for companies to show potential prospects that people believe in their product. The same thing goes for eLottery Syndicate and Virtual World Direct where their website offers a good amount of people who have used the system and sent in their thanks and accomplishments that have taken place over the years. One of the most interesting ones was a woman who had played for 18 months and won 29 different times. They have an area dedicated to testimonials on the home page of the website.

What Other Questions Do You Have

Most companies today offer a section to answer what they can to make everyone feel at ease when joining. The eLottery Syndicate and Virtual World Direct company offers much of the same with anything about becoming a member, playing periods, divided winning, and so many other areas they just seem to cover everything. One of the better F.A.Q. sections we have seen over the years.

Affiliate Program

Getting involved with eLottery Syndicate and Virtual World Direct on a business front is simple as well. Adjusting to how it all works may take some decent training, but once the ground rules have been understood you won’t find too many things that are this easy. You have two options with their affiliate program which is either deciding on keeping your commissions for payments or playing your own lottery games. The opportunity to play for free and keep the winnings is something they stress, but it’s not necessary.

What We Think

The main thing to understand is how big the gambling industry is on the internet. With eLottery Syndicate and Virtual World Direct there won’t be card playing, sports wagering, or anything that might be potentially illegal. This company deals in the lottery which has been around for hundreds of years and was in fact the first legalized gambling mechanism in America. Based out of the UK and covering 127 countries to date, we will be hearing much more from this company in the future. It might just be your big break in the affiliate program market.

Horse Racing Systems – The Advantages and Disadvantage of Laying Horses!

As you are most likely aware the invention of the betting exchanges around a decade ago swept in a new era of betting, especially when it came to horse races. Betting on a race became so much easier as all you needed to do was get online and get betting. But that wasn’t the only thing the exchanges brought to the gambling world, they also brought the ability to lay or as some call it the ability to be the bookmaker.

Also for those of us currently residing in the UK it meant that we had to get our heads around decimal odds. However being able to lay horses was the real big thing to come from the exchanges. It meant that we, the betting public, could now make a decision as to whether a horse will win or not and if we did not think it would win instead of backing another horse as we would normally do we could lay it off. This was a totally radical new way of betting and one that has only gotten more and more popular since it’s invention.

The best thing people say about laying horses is that it is much easier to select a loser than it is to select a winner. That is to say if there were a 10 horse race it would be much easier for you to pick a horse that will not win the race than for you to pick a horse that will win the race. As we can see here you will undoubtedly have a much higher strike rate than ever before and you have the chance to start making the big profits like the bookmakers have been doing all along.

The drawback with laying horses to lose is that you have to put up with the liability involved if the horse does win. Take for example you lay a horse at 5.5 on the exchange to make a profit of £100 and it wins you will have to pay out £450 to the person who took you up on the bet. It is probably important to point out now is the reason why betfair is so popular is because it boasts higher odds than most traditional bookmakers.

On betfair the prices are said to be a standard 20% higher than at a traditional bookmaker. This means that you are still not in the same boat as the bookmakers as they are laying things off at considerably lower odds than you are. All of this is still not including the commission charged by betfair also!

Even after all of the disadvantages I have just mentioned I still love lay betting and I will tell you why; you do not have to do it for every race! Sure the bookmaker is compelled to offer odds for every horse on every race but you don’t have to, you can pick and choose and it is this reason and this reason alone why there is money to be made in laying horses