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 Number of Ways to Make Money Online Has Increased – What is an Affiliate?

Technology today allows people to easily access everything they need by a clicking away. Online marketing, online shopping, online gambling, online jobs the online world is definitely becoming more popular. The addition of portable online devices such as the iPad and more capable mobile phones has helped this trend. Existing businesses are trying to keep their profit and increase their market share by making money and doing business online.

Since experiencing global economic crisis the number of jobless people have increased and they are now more people dedicating time on searching ways on how to make income online. Online jobs such as home based freelance essay writing and home based data entry are among the popular search on how to make income online. People must be very careful in choosing the legitimate websites that offers ideas on how to make income online. However there are a lot of legitimate websites offering ways to earn.

One way of earning online is by advertising your product or services or other people product or services as a affiliate. When we speak of affiliate marketing, this means transactions between online businesses and website owners. Website owners make and post advertisements on their sites that support services and products of their business partner. Both parties involved in affiliate marketing achieve shares of profit. You can easily earn profits with affiliate marketing through these three ways:

PPC (Pay per Click). This is one of the most famous ways to earn profits in affiliate marketing. This generates money during every customer visit in one of the products websites. Website owners usually provide a link to the products official website Website owners earn profits with each click of the visitor. Click amounts can be dollars or cents, which relies on the commissions amount and product.

PPS (Pay per Sale). Similar to Pay-Per-Clicks, Pay per Sale is another affiliate marketing tactic. Website owners also advertise the products of their business partners on their site and gains percentage or profits through every sale made because of website advertising.

PPL (Pay per Lead). This becomes effective when consumers register at the products official website because of website owners advertisements. Commissions or percentage are already determined by each party and deposited each time consumers register. As you can observe, affiliate marketing is the best way of earning extra income without hard time pressures, and difficult tasks. Affiliate marketing only needs your website for advertisements and you’re ready to online riches. Website owners only sit back and wait for incomes to increase without doing any promotions. Business partners of website owners also gain advantage through affiliate marketing. Business owners only need to find credible website owners for effective advertising.

Online Casinos to Avoid

Online casinos to avoid are not just those associated with low joining bonuses or those based overseas. Online gaming is great fun. Jackpots at online sites can be much higher than traditional casinos because of the much lower overheads of any online business as opposed to its bricks and mortar equivalent. But which should you trust and which do you run from? Here are some criteria you need to consider when deciding which online casinos to play at. This list is by no means exhaustive.

Avoid bad spelling and grammar on websites. Any online business worth its salt pays attention to detail. That includes things like checking spelling, punctuation and grammar. If a website owner doesn’t bother about those basic things then what is to be expected of their customer care? Worse still, if the bad spelling and grammar is there not because the website owner didn’t care about it, but because the owner wasn’t capable of correcting it – in other words, that was the best he could do – then there is a real problem. Just click away from there as soon as possible.

Avoid any online casinos associated with spam. It is likely that any email spam you get about online casinos will originate from over-zealous affiliates who haven’t learned the rules yet, and not the casinos themselves. However, all reputable online businesses make it quite clear in the terms and conditions of their affiliate programs that spam will not be tolerated under any circumstances. Any online business which is slack on this policy should be given a wide berth, whether it has acted in good faith or not.

There are lists of online casinos to avoid in various rogue casino lists. There are blacklists and other “not recommended” lists which you can access just by typing a query in the search engines. Try typing in “Name of Casino” + “scam” or “blacklist”. It’s true that online casinos are run with properly regulated procedures nowadays, but that wasn’t true even as short a time as five or six years ago. Vigilant online casino watchdogs have a long memory. Even though the casino may have cleaned up its act since being placed on such a list, it won’t do you any harm to avoid them if they have been listed in the past. It also encourages new casinos not to stray from the straight and narrow.

Misappropriation of fair-play seals and logos. This includes accreditation to reputable sounding but fake “authorities” and “ethical commissions”. Look out for accreditation to eCOGRA (eCommerce and Online Gaming Regulation and Assurance) as a sign of genuine probity. That’s not to say that if they’re not on the list they are an online casino to avoid, just that it’s a sign that a casino has reached a certain standard of worthiness.

The online casino should have transparency of auditing of both its accounts and its log files. Look for references to third party auditing in the online casino’s terms and conditions.

Online casinos to avoid also include those which do not respond to enquiries or complaints. Unfortunately there is no way you can tell this from the online casino’s site itself, as they are not going to say bad things about themselves! This is where it’s useful to join online forums where such matters as which online casinos to avoid are regularly aired. Be aware of people who simply have a grudge against individual casinos because they have been unlucky. But also look out for several people saying the same thing about the same casino; consensus usually means there’s something to complain about.

Online casinos to avoid like the plague, along with any other online business, are those where the chief contact email is a hotmail or a yahoo address! Or any free account, for that matter. If the casino is called CasinoName, then the contact email address should be something like support “at” CasinoName or admin “at” CasinoName.

How Does Online Sports Betting Work?

Online sports betting have become very popular throughout the world. People can bet on a variety of different sports events through an online betting site. To get a better idea of what makes online sports betting so popular it helps to know how it works. It deals with not only getting a bet placed but also with signing up for betting services.

What happens first is that a customer will sign up for services from an online sporting betting site. The person will need to send one’s information and fund an account with money from a credit or debit card. After the information goes through and the person’s account is funded that customer can begin betting on sports online.

After a period of time the member could end up earning money as a result of successful bets. That member will generally be able to request a check for the money that the person is asking for. Commissions are generally required but these commissions are usually less than ten percent of the value that the customer is asking for in many cases.

When looking into joining an online sports betting site it will help to look into the regulations that are involved. Many websites will receive registration through small countries to work to offer online betting services. These include countries like Costa Rica. This is important because a website will need to be fully licensed by an international government that supports online betting in order for it to work properly. The business will also be subject to regular government checks to make sure that all betting services are fairly supported.

While betting online customers can bet on a variety of different sports events. These events include football events, boxing matches, horse races and even golf events. People can even bet on events with spreads, which deal with how much of a margin of victory that a team will receive, and even over/under events that deal with how many points or other things will happen in certain events. The bettor will then place a certain monetary amount on the bet that is being made.

After the event takes place the sportsbook will take out the money that the customer lost or deposit money that the customer won. This generally takes place not long after the event that was bet on is finished.

Online sports betting are a unique thing to check out. This is a form of entertainment and gaming where a customer will sign up for services, fund an account and bet on various different sports events. It will be important when getting registered for one of these online sports betting sites to look into the regulations that are involved.