Offshore Banking Terms All You Ever Wanted To Know

Many investors are puzzled by the various terms used by bankers in describing ways to protect their money. Here is a short list of some of the most common ones.

Asset Protection Trust (APT) is an irrevocable trust, usually created (settled) offshore for the principal purposes of preserving and protecting wealth against creditors. Title to the asset is transferred to a trustee. It is used for asset protection and usually tax neutral. Its function is to provide for the beneficiaries of the APT. A trust is a contract affecting three parties, the settlor (who sets up the offshore trust; also called the grantor in U.S. or IRS terms), the trustee and the beneficiary. A trust protector is optional but recommended, as well. Through the trust, the settlor transfers asset ownership to the trustee on behalf of the beneficiaries.

Business trust is created for the primary purpose of running a business. These trusts are treated as persons under the Internal Revenue Code (IRC). It must have a commercial purpose and actually function as a business.

CARICOM is the Caribbean Common Market. Its members consist of 14 member countries of the Caribbean community, including Antigua, Bahamas, Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent, Surinam, Trinidad and Tobago. The purpose of this organization is to encourage free trade and free movement of labor. Conspicuous by their absence are the Cayman Islands and the British Virgin Islands, the two major players in international banking and finance, which did not wish to be regulated by a small local community because of greater international ties.

Discretionary Trust is a grantor trust in which the trustee has sole discretion as to who among the listed beneficiaries receives income and/or principal disbursement. The trustee has full authority over the fund, or it would cease to be a discretionary trust. A letter of wishes, or side letter, can provide guidance to the trustee without having any legal and binding effects. The letter(s) must be carefully drafted, as the trustee cannot be seen as a pawn of the beneficiaries or there is basis for the argument that there never was a complete renouncement of the assets.

Estate is the sum of personal interests in real and/or personal property.

Flight Capital is money which flows offshore and likely never returns. It is exacerbated by a lack of confidence in government fiscal management.

GmbH is a German form of a limited liability corporation.

High Net Worth (HNW) Person is any individual with more than $1,000,000 in liquid assets.

International Business Company (IBC) is a corporation formed (incorporated) under the Company Act of a tax haven, but is not authorized conduct business within that country. It is intended to be used only for global operations. It is owned and operated by members and/or shareholders, just like other corporations.

Limited Company is not an international business company. May be owned by a resident of the tax haven and is set up under a special corporate law with a simpler body of administrative laws. A Limited Liability Company (LLC) consists of member owners and a manager, at a minimum. It has tax advantages and operational flexibility found in a partnership, operating in a corporate-style structure, with limited liability as provided by the state's laws. A LLP is a Limited liability partnership, a form of the LLC frequently used for professional associations, such as accountants and attorneys. A LLLP is a Limited liability limited partnership, intended to protect the general partners from liability.

Member is an equity owner of a limited liability company ((LLC), limited liability partnership (LLP), limited liability limited partnership (LLLP) or a shareholder in an IBC.

NRA is a nonresident alien of the U.S. An NRA is not a U.S. person as defined under the Internal Revenue Code (IRC).

Offshore is an international term meaning not only out of your country, but also out of its tax jurisdiction.

PLC is a UK public limited company.

The Revenue Reconciliation Act of 1995 proposed changes to the Internal Revenue Code affecting foreign trust reporting, among other changes.

Securities are shares and debt obligations of every kind, including options, warrants, and rights to acquire shares and debt obligations.

Settle. To create or establish an offshore trust. Done by the settlor (offshore term) or the grantor (U.S. and IRS term).

Settlor. One (the entity) who (which) creates or settles an offshore trust.

TCI are the Turks and Caicos Islands, a popular tax haven.

Trustee is the controller of a trust fund. This person is independent of the settlor or grantor and has the fiduciary responsibility to manage the assets of the fund as a reasonable prudent business person would do in the same circumstances. The trustee must defer to the trust protector when required in the best interest of the trust fund. The reporting requirements of the trustee are defined at the creation of the trust include how often, and to whom, the trustee will respond to instructions or inquiries, investment strategies and fees for the trustee's services. The trustee may have full discretionary powers to distribute the fund to beneficiaries.

Uniform Partnership Act (UPA) is one of the uniform laws adopted by some states or used as a baseline for other states.

Vetting is the process used by the offshore consultant for evaluating whether a prospective client is a good candidate for offshore asset protection.

World Bank was formed to be the lender and technical advisor to developing countries, utilizing funds and technical knowledge from member nations. It has often been criticized for promoting austurity programs in indebted third-world nations.

Hopefully this short guide will help investors seeking asset havens and offshore banking facilities.

Jamaican Beauty at the Green Grotto Caves

One of the locations used in the James Bond movie, Live and Let Die, the Green Grotto Caves located just outside of Discovery Bay are of interest not only to Bond fans, but also to people who are interested in the history of Jamaica, and also those who have a passion for natural beauty.  Be warned however, to see this attraction you will have to walk downwards on centuries old steps, so anyone with mobility issues should discuss their situation with the guide before starting down to the cave.

As you descend the steps down into the caves to marvel at the stalactites that hang somewhat precariously from the roof of the cave, take a look at the artwork.  This was created by the pre-Columbia Arawaks.  Over the centuries the caves have become a refuge for many different types of people, from the Spanish who used it as a place to hide from the British in the 17th Century to the slaves who managed to escape their owners in the 18th.  More recently smugglers taking guns into Cuba have used the caves as a hideaway!

The main highlight in the limestone Green Grotto Caves however is the huge lake that’s some 36m below the surface.  Once you get down the steps to this level, you’ll be able to get a closer look at the natural beauty of the cave by boat.   Be sure to look up at the ceiling pockets, and to marvel at nature as you see both stalactites and stalagmites.

Although the tour of the caves only takes about an hour, it’s an hour well spent because of the amount of interests it spans, the stories that your guide will be able to tell you about its past, and the sheer beauty that is unlike anything else you’ll encounter on the island.   It’s not a time-consuming attraction but it’s one you won’t forget.

How Safe are Women Traveling Alone in Jamaica?

Whether women travel alone, or with a partner, the first thing that they need to be aware of – and if they aren’t before they arrive, it won’t take long for them to learn – is that women are not generally respected by Jamaican men.  They may find that they have “admirers” but a quick dip into the local community will show how much real respect is attached to the admiration!

Women tourists who travel alone need to be extra vigilant about personal security and make sure that they know what areas of the place they are staying are relatively safe for tourists – especially women – and which aren’t.  They should always make sure that someone knows where they are going if they are leaving the hotel grounds, and they should make sure that they don’t stand out from the crowd too much.

It may not be very appealing for an independent woman from the US to have to join a group tour simply because going alone isn’t recommended, but if you are in Jamaica, you must listen to the recommendations on personal safety issues.  They aren’t given just to stop the hotel being sued in the unlikely event of you being mugged.  They are issued for your own safety by people who know that as beautiful as the country is, there is another side to it, that must be respected.  If you enjoy solitude, then join a tour but keep yourself to yourself on the bus, and go your own way when you arrive at the destination – just don’t wander too far away from the rest of the tourists!

Just as you would follow some basic safety rules if you were visiting a city such as New York, follow the safety information given to you at your Jamaican destination and you should be as safe as you would be walking through Manhatten.

Fishing in Jamaica

The hardest part about fishing in Jamaica is knowing exactly what it is you want to fish!  From little fish, to big fish, from standing on shore with a line, to hiring a boat with spear fishing facilities, you’ll find it all – so the first thing to do to find a spot to fish in is to identify what it is you want to fish!  All along Jamaica’s beautiful coastline – and just off it – you’ll find fish big and small, so what’s your pleasure?

Although finding a fishing hole isn’t difficult, finding a boat that falls within your budget might be!  You’re a tourist and as such, you’re easy pickings for the locals who hire out their boats to holiday makers.  Unless your hotel has some local arrangement, or their own vessels for hire, you are at the mercy of the locals and so should anticipate paying well above the going rate if you want to hire a boat.  You could also investigate if there are any local boat chartering companies you could use instead – the advantage of this is that even if you have to pay a similar price to what the locals would charge, at least you are assured of the boat being sea-worthy and equipped for the kind of trip you’re planning.

If you want to try your hand at something more unusual, you could try deep sea fishing.  There are a number of charter companies who offer their services for this, but they aren’t all equal so make sure that you get the one that has the package you’re looking for – does it have tuition, equipment, length of time, distance from shore, experienced in the kind of fish you’re looking for etc.

Anyone wanting to try spear-fishing needs to find an experienced company that knows the reefs and where to fish so ask your hotel for a recommendation, or do some searching on the Internet before you leave home and email any possible companies located in the area you’ll be staying.  Even you don’t catch anything, the experience of being out there taking part in the activity will be something to remember a lifetime.

As with many outdoor activity tours, check what the package includes before you make your reservation so that you know whether or not you need to supply drinks and food or if they are included.

Coffee: The Story

The growing and the drinking of coffee spread around the world rapidly. Coffee drinkers know how to drink a cup of coffee but how many of those know the details of coffee, sources or the formulations of each cup. These are the basic information about coffee.

History

In Europe, the coffee was first imported to Italy. The trading between Venice merchants and the other country merchants such as North African, Egyptian and Eastern. After the coffee was introduced to the Venetian, the coffee was widely used in Venice and the other countries in Europe. The coffee house was first opened in Italy in 1645.

In England, the coffee was available in the beginning of 16th century. The coffeehouse was first opened in St. Micheal’s Alley in Cornhill. In 1675, there were a lot of the coffeehouses spread widely around England. There were about 3,000 or more coffeehouses located.

In Asia, it was started at Malabar in India and spread to Indonesia. Now Indonesia is the 4th largest exporter in the world.

Coffee strains

The science name of coffee is ‘Coffea’. There are more than 6000 strains of coffees in the world but only 2 strains of coffees that used in the marketing. These are Arabica and Robusta.

Arabica has 44 chromosomes. The products of each garden are about 240 to 480 kilograms. The Arabica will have flowers after rainy season and the duration of Arabica to produce the fruits is about 6 to 9 months. The character of Arabica products is flat shape fruits with acidity taste. Each fruit has caffeine from 0.8 to 1.4 percentages. The suitable temperature for plant the Arabica is 15 to 25 Celsius.

Robusta has fewer chromosomes than Arabica, it has only 22 chromosomes. The fruits of Robusta are egg-shapes. The Robusta will have flowers in every season and take time from 8 to 11 months to produce the fruits. The products of each garden are about 360 to 480 kilograms. And contain caffeine inside the fruits about 1.7 to 4.0 percentages.

Sources of Coffee

Many countries produce the nice quality of coffees to the world markets. Coffee drinkers ought to have a special taste of coffees from the popular sources such as Columbia, Brazil, Costa Rica, Mexico, Guatemala or Jamaica.

Columbia is a source of Arabica strain. The temperature and soil in Columbia can produce high quality of coffees. The renowned coffees are Medillin, Bogota and Suremo.

Brazil has the coffee trees more than 4000 millions and it is the biggest source of coffee in the world. The popular brand of coffee from Brazil is Brazilian Sandos.

Costa Rica is the one of high quality source of Arabica. If you go to visit Costa Rica, try to ask for the coffees named Tarrazu and Tres Rios.

Guatemala, the Atitlan mountain of Guatemala is the source of Arabica. The renowned coffees are Antigua and Coban.

Mexico, the prominent of coffee from Mexico is the organic coffees. The good taste of coffee in Mexico is Veracruz.

Jamaica, the renowned coffee from Jamaica is Blue Mountain. The Blue Mountain is the best strain of Arabica and about 90 percentages of Blue Mountain export to Japan. The brands of Blue Mountain in Japan are High Mountain Supreme and Prime Washed Lamaican.

Bob Marley Nine Mile

When visiting Jamaica’s beautiful Ocho Rios make sure you take some time out of your vacationing, water sporting, fun in the sun, and exciting nightlife partying to visit the Bob Marley Nine Mile, the community that helped shape the life and career of one of the most famous musicians of all time.  Even if you’re not a particular fan of the man’s music, you’ll get a real sense of what he was about.

Many Bob Marley fans come to Ocho Rios specifically for this unparalleled experience. The quaint village of Nine Mile is nestled high in magnificent mountains of St. Ann, and serves not only as the birthplace of the legendary Reggae King (1945), but also where he was laid to rest in 1981.  Fans of Marley have described the Nine Mile experience as one that allowed them to get more in touch with the musician’s roots, to understand the depths of his lyrics, and to come away from it feeling a renewed sense of faith about what’s most important in life.

Be sure to check out the small family house—where the Bob Marley legend all began. Some of Marley’s family are still there, most notably his mother (“Mother B”) and Uncle Lloyd.  The small home is littered with photos of the renowned late musician, and you will likely hear stories of Marley’s childhood and early musical career from his mother and/or uncle, as well as the guide.  You should also visit Mount Zion Rock (the famous Bob Marley meditation spot), the Fireside, where he cooked many meals, and finally, the mausoleum, the King of Reggae’s final resting place.

If you’re not quite sure how to go about touring through the Bob Marley community, try a Nine Mile guided tour complete with an authentic Rastafarian guide (in authentic Rastafarian garb, no less!) who will take you through the village from one important element to the next, so you don’t miss anything and so you can soak in the entire experience from beginning to end.

Being A Paperwork Prepared Tourist

When you think about a cruise vacation, you probably think of being a pampered tourist, enjoying lush accommodations and fabulous service. However, there is a lot of work to be done to prepare for a cruise before you get to enjoy the cruising life.

Documentation is key. Depending on where you are going the documentation items you need could be limited or extensive. If you are just going on a one or two day cruise that is in the U.S., you may not need much. But, if you are going into deeper waters and to foreign ports the rules are a little different.

Even if you are only going on a few day cruise to somewhere like Jamaica you are going to need a passport. While it is an island that is very close to the state of Florida, it is still a foreign country, and therefore you need the proper documentation to show your citizenship.

If you don’t have a passport, you need to get one well in advance of your trip. Also, if you do have one, make sure it is not about to expire. Generally, you should give your self up to six months to get your passport, at a minimum two. Passport offices around the country are backed up and getting a passport these days takes longer than it did before. If you’re within a few months, you may want to pay extra to get your passport expedited.

There may be even more documentation to be had if your family has some children who are from previous marriages and do not have the same last name of the parent taking them on the trip. If this is the case in your family, you may have to file some extra pieces of paperwork to get a passport, and then to make sure the authorities know it is ok for the child to be traveling out of the country with one parent.

Some countries actually require those who want to stay for a little while to apply for visas, which would mean even more paperwork. The rules for what documentation is required to go into and out of a country will differ by nation, so check with your cruise line about this possibility.

For other countries, you will need to have proof of some medical vaccinations due to the possibility of illnesses in their region.

If you normally book your vacation through a travel agent, they may well help you take care of all of this. They know that for the most part tourists really want to focus on what they will see and what accommodations they will have on their cruise, not the little paperwork details, so they will usually compile a list of all the documentation and any medical certification you will need in order to be allowed to go on your trip. In addition, a good travel agent will know enough about the cruise industry they may be able to recommend great deals on wonderful destinations for your cruise.

Are Drugs Prevalent in Jamaica?

Jamaica is a laid-back country.  It’s a country of “chilling”.  One of the reasons for this could be that it’s hard to avoid the abundance of marijuana – locally known as “Ganja”.  Despite drugs being illegal in Jamaica, ganja and cocaine are relatively easy to obtain, and you may even find yourself being approached by street or beach hustlers who are hoping you could use a quick fix of one or the other!

There are two warnings for tourists when it comes to drugs.  First of all, don’t buy them and don’t take them from anyone offering you a free smoke.  Just avoid them completely!  Tourist status, American passport and all, is not going to save you from an obligatory sightseeing tour of the inside of a probably overcrowded Jamaican cell!  Even if they clear you of everything except using, you will still have had an experience you’d rather not remember.  If they are able to charge you with anything more than using – then you could be facing gaol time in the local penitentiary.  The Jamaican culture is known for its connection with drugs, but it’s not so well known for the tough penalties it gives out for those who are caught, so just avoid finding out the hard way and stay well clear of any drugs.

The second warning is in respect of your belongings.  We are becoming a society where we are wary of leaving our luggage lying around anywhere, or of carrying a bag for someone else because of the risk of a terrorism attack.  Use this to back up your resolve not to carry a doll or even a baby across the airport boundaries from one country’s laws to another!  If you’re holding it, when the officials check it and find illegal drugs, you’re the owner – so don’t put yourself in that position.  Make sure you don’t take care of anything belonging to someone else, and that your own luggage is never left unattended and open for someone to put something into it.

Jamaica: The Perfect Honeymoon Destination

Are you in the process of planning a wedding? If you are, congratulations! This is a special time in your life; a time that you will likely remember forever. When planning a wedding, many brides and grooms place a large amount of their focus on the wedding ceremony and the wedding reception. Of course, you want these two special events to be absolutely beautiful and picture perfect, but it is important that you do not forget about your honeymoon. Your honeymoon is not only a trip, but it is the celebration of your union and an amazing opportunity to get that union started off on the right, romantic foot.

Since your honeymoon is just as important as your wedding ceremony and your wedding reception, it is important that you take the time to thoroughly plan it. It is advised that you take your time and examine as many locations as you can stand to look at. Many couples make the decision to focus on areas that are known for their romance and beauty, such as the Caribbean. In fact, the Caribbean is where you will find one of the “hottest,” honeymoon destinations in the world. That destination is that of Jamaica. After a close examination, you may very well find yourself booking your Jamaican honeymoon reservations right away.

As nice as it is to hear that Jamaica is a popular destination for romantic getaways, particularly honeymoons, you may be looking for proof. After all, your honeymoon is an important milestone in your life; therefore, it is one that should be perfect. That is why it is advised that you take the time to examine what Jamaica is all about and all that it has to offer. As previously stated, if you are like many other soon-to-be brides and grooms, there is a good chance that you will like what you see.

One of the many reasons why Jamaican honeymoons are perfect is due to the beauty of Jamaica. The Jamaican terrain is known for its beauty, as well as it vast array of landscape. Jamaica is filled with beautiful waterfalls, streams, rivers, forests, mountains, as well as beautiful plain areas. Whether you choose to visit the Montego Bay, Ocho Rios, or Negril area of Jamaica, the landscape and beauty of Jamaican is sure to, literally, take your breath away. If a picture perfect honeymoon is what you and your partner are looking for, Jamaica has it, in more ways than one.

Although the beauty of Jamaica is important to a Jamaican honeymoon, as it provides you with a romantic environment and atmosphere, beauty is not all that a Jamaican honeymoon can offer you. Another one of the many reasons why Jamaica makes the perfect honeymoon destination is because of all of the attractions you can visit, as well as all of the activities that you can participate in. Whether you are looking for romance, adventure, or both on your honeymoon, you can find it in Jamaica. Popular Jamaican honeymoon activities include that of aquatic horseback riding, scuba diving, snorkeling, flocking on the beach, hiking, and much more.

Perhaps, the largest reason as to why Jamaican vacations are in high demand and may be perfect for you and your soon-to-be spouse is because of the overnight accommodations. Jamaica is the third largest island in the Caribbean. What does this mean for you? It means that you have a number of beautiful, beachfront vacation resorts to choose from. Of course, you can decide to stay inland, but you haven’t experienced Jamaica if you haven’t experienced it from the beach. It is also important to mention that Jamaica has a number of beachfront resorts, many of which are tailored to individuals just like you, those who are on romantic getaways and honeymoons.

If you like what Jamaica has to offer, you will want to examine Superclubs.com. Superclubs.com is the only resource that you need when looking to plan a Jamaican honeymoon. With detailed information on Jamaican activities that you can participate in and detailed information on many popular beachfront Jamaican resorts, as well as all-inclusive vacation packages and super-inclusive vacation packages, you are sure to find what you need at Superclubs.com.

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Jamaica Just For The Fun Of It

Caribbean Jamaica travel doesn’t just offer rum, sun and reggae. Few Caribbean islands can compare with Jamaica for the wide variety of activities it offers.

Jamaica’s motto is, “Out of Many, One People.” This is really what Jamaica is all about. Good beaches and great food can be the focus for the typical vacationer, but Caribbean Jamaica travel boasts sightseeing for those who want more, especially in Montego Bay (“MoBay” to the locals). Montego Bay has many homes that used to belong to wealthy plantation owners back when sugarcane was king.

Here are a few things you should know to get the most out of that Caribbean Jamaica vacation:

Banks/Currency

Money is easily handled when you travel in Caribbean Jamaica. Visit one of the many licensed cambios and bureaux de change available in resort areas. With such easy access, there’s no need to have Jamaican money with you before you get there. In the rare event that your resort doesn’t have a money exchange, banks in the area will be able to help you.

The official rate of exchange changes daily, so shop around a bit before you do your exchange. Many Jamaican ATMs also accept international bankcards with Visa, Mastercard, Cirus, and Plus logos. Banks also give credit card advances, cash traveler’s checks, and offer other financial services.

Climate

Jamaica’s climate is tropical at sea level and temperate near the interior highlands. As one Jamaican poem says: “We have neither summer nor winter/Neither autumn nor spring….”

In Caribbean Jamaica, you’ll need clothes for a tropical climate. Swimsuits are necessary for swimming or other water sports, as is a jacket or a light sweater for hiking.

Communications

When you’re in Jamaica, you have easy access to other parts of the world. So you can easily access direct international telephone service 24 hours a day. Telephone operators are also available to help with third party or credit card calls, too.

Most hotels, resorts, and parish libraries have Internet and email access. They also have fax, telegram, and cables available. Jamaica also has three daily national newspapers and five weekend newspapers. Other international editions of major newspapers and magazines are also available, such as the New York Times, TIME, The Economist, and the London Times.

Driving

If you drive while you’re on your Caribbean Jamaica travel, remember that you should drive on the LEFT side of the road. Fast reflexes are necessary unless you want to collide with pedestrians, cows, goats, chickens, and other domestic animals, but the roads themselves are pretty good, with more than 17,000 kilometers of road networks connecting all major towns and cities.

Jamaica: A Piece of Paradise

If you want to travel to the Caribbean, you certainly have no shortage of wonderful destinations from which to choose. One of the most popular places for tourists in the Caribbean, however, is Jamaica. The country of Jamaica is about 150 miles long and 50 miles wide, so it isn't huge, but it is mighty in the world of tourism, and is actually the third largest island in the Caribbean. It is found less than 100 miles south of Cuba and a little over 100 miles from Hispaniola, the island on which Haiti and the Dominican Republic as found. It was formally a possession of Spain, and late of the United Kingdom, but is now its own nation.

Although Jamaica is small, it has had a large cultural influence on the world. Reggae, ska, dancehall, and ragga are just a few of the many musical genres that originated in Jamaica. Jungle music in the United Kingdom and hip-hop in the United States are also largely accredited to the Jamaican immigrant population. The Rastafari movement also began in Jamaica.

When you are visiting Jamaica, there are a number of fun activities for you to do. Of course, like most other Caribbean islands, Jamaica is home to a number of beautiful beaches, so it is a real island paradise. While there, you can try diving, parasailing, boating, swimming, snorkeling, jet and water skiing, and surfing. Fishing is also very popular in the Jamaica, and you can see a variety of great planets and animals when you are visiting this island.

For those who are not interested in fun in the sun, the nightlife in Jamaica is also great. You can dance the night away in a number of clubs and visit bars to try some of the local drinks. The restaurants here serve both foreign and cultural cuisine, and shopping is great for tourists who want to pick up lots of gifts to take home.

If you plan to go to Jamaica on your next vacation, you can fly directly there or you can take a cruise through Caribbean islands. Make sure that you check with your airport to see what kinds of travel paperwork are required to visit Jamaica from your country and be prepared to experience this fun island culture by reading up on the many things you can see and do while there. Jamaica can be your own island paradise when you visit, so the vacation is definitely worth making the travel plans.