Wealth International, Limited

Offshore News Digest for Week of June 10, 2002


WHY NOT CONSIDER ANDORRA?

We rarely find Web articles about one of the smallest and best tax havens in the world, ANDORRA. Here's what living there can be like.

More on this story here and here.

RUSSIANS FLEE EX-HAVEN CYPRUS

It used to be the Russians' favorite tax haven, but joining the EU ended the island's tax free status for 52,00 IBCs registered there.

More on this story here.

GIBRALTAR ANSWERS BRITISH GOVERNMENT SMEAR

Chief Minister Caruana calls UK money laundering charges "A pathetic and crude attempt to smear Gibraltar for political purposes."

More on this story here.

SWISS, ITALIANS FREEZE BANK ACCOUNTS

50 arrests; 150 under investigation; 3 million seized.

More on this story here.

SECRET MONACO MEETING

A secret counter-terror cash meeting in Monaco last Friday of 78 countries and groups confirmed Arab Gulf states are the terror banking source, not traditional tax havens and offshore financial centers.

More on this story here.

SWISS PRAISED BY U.S.

BERN. A top US Treasury official praises Swiss for cooperation in tracing terrorist funds.

More on this story here.

NAURU HIT AGAIN AS DIRTY CASH HAVEN

The Pacific island nation is charged with laundering and hiding alleged terrorist funds; Australian government inaction questioned.

More on this story here, here, and here.

NIUE ENDS OFFSHORE BANKING LAWS

Laws are repealed in effort to get off FATF dirty cash blacklist.

More on this story here and here.

AUSTRIA OPPOSES E.U. PRESIDENCY PLAN

BRUSSELS. Proposals by Britain, France and Spain to create a powerful new European Union president are an attempt by the big countries to control Europe, says the Austrian foreign minister.

More on this story here.

MORE ABOUT THE E.U. TAX CARTEL

Pres. Bush should tell EU tax collectors to keep their greedy hands off income earned within the United States.

More on this story here.

BUSH PLAN BACKS OFFSHORE CORPORATE CURBS

And calls for more foreign corporate taxes, but hearing breaks up in a bitter partisan dispute. Look for a new (bad) law soon.

More on this story here, here, and here.

WHY GOLD?

Conditions make gold attractive; possible inflation, terrorist threats. History shows gold has served as the basic money of all peoples.

More on this story here.

GOLD AND THE DOLLAR

US Rep. Ron Paul (R-Tex) explains why current world economic and political conditions cause less trust in the dollar's value.

More on this story here and here.

U.S. HOUSE PASSES DEATH TAX REPEAL

The House votes to make permanent a repeal of the estate tax.

More on this story here.

Grave Robbers: Moral Case against the Death Tax. The Cato Institute.

More on this story here.

USA PATRIOT ACT ANTI-MONEY LAUNDERING RULES

A detailed legal explanation of new USA Patriot Act rules that affect almost every US business.

More on this story here.

HOW U.S. IS DESTROYING FINANCIAL PRIVACY

WASHINGTON. An inside look at how US banks & financial institutions are cooperating to end all financial privacy; a hot line to FinCEN on a real time basis; using the 'terror excuse' as justification.

More on this story here.

U.S. 'SECURITY' MOVES CALLED POLICE STATE

Civil liberties leaders claim Bush leads toward a 'police state.'

More on this story here.

U.S. 'WELCOME' INCLUDES FINGER PRINTING

US plans to fingerprint visas' holders upon entry cause outrage.

More on this story here, here, here.

ANTI-TERROR RUSH HURTS WORLD ECONOMY

Terrorism and reaction against it slows globalization and the damage to the world economy could be long lasting.

More on this story here and here.

HONG KONG ANTI-TERROR BILL THREATENS LIBERTY

The territory chief executive may get unilateral power to brand people as terrorists and freeze their assets.

More on this story here.

SWISS VOTE ON SURPLUS GOLD

ZURICH. Campaign over how to use surplus National Bank gold begins.

More on this story here.

HAPSBURG LEGACY LIVES ON

AARGAU, Switzerland. The place that gave Europe's once most powerful imperial dynasty its name.

More on this story here.

SWISS MILITIA TO MODERNIZE

The militia army is to be slimmed down and made more professional.

More on this story here.

SWISS BANKS ANSWER HOLOCAUST CHARGES

Swiss Bankers' Association denies claims they were uncooperative in returning assets seized by the Nazis during the Holocaust.

More on this story here and here.

PRIVATE BANKING TRENDS WORLDWIDE

Private banking trends and practices in Germany, Spain, Japan, Korea.

More on this story here.

A fundamental shift in scope of offshore banking in the Caribbean.

More on this story here.

OFFSHORE INVESTING

An S&P special report on offshore investing; 9500 funds in 25 nations.

More on this story here.

INVESTING IN THE GLOBAL MARKETPLACE

Advice on navigating the tricky waters of offshore investing.

More on this story here.

Offshore Funds Swamp Local British Investments.

More on this story here.

A Wealth of Choice for Europeans

More on this story here.

High Fees, Taxes Discourage US Offshore Investors.

More on this story here.

NERVOUS EUROPE MOVES TO THE RIGHT

EU meddling, big government, high taxes, rising immigration, terrorism; Europeans are voting for conservatives. France is the latest example.

More on this story here.

SWISS BANKS, O.E.C.D. TALKING

"Correcting misunderstandings" about Swiss bank secrecy.

More on this story here.

And the Swiss are angry about a US judge's blunt remarks.

More on this story here.

LUXEMBOURG GETS GOOD S&P RATINGS

Standard & Poor's gives Luxembourg's banks a clean bill of health.

More on this story here.

GIBRALTAR MAY BE SAFE FOR NOW

Rock residents pleased as UK-Spanish negotiations grind to a halt.

More on this story here.

The Last Colony.

More on this story here.

ISLE OF MAN MAY EMBRACE E.U. DEMANDS

DOUGLAS, I.O.M. Official hints island will go along with information exchange as London demands, but only if everyone else does.

More on this story here.

Raising JERSEY taxes raises much vocal opposition.

More on this story here.

BELIZE TELLS WASHINGTON 'NO!'

BELMOPAN. Tiny Caribbean tax haven says it wants no part of US anti-Castro radio station run by Radio Marti.

More on this story here.

F.A.T.F. BLACKLIST REVISION NEARS

PARIS. The OECD bureaucrats are about to announce a revised blacklist of nations they allege are lax on money laundering.

More on this story here and here.

Here's the current FATF blacklist, including 5 nominal tax havens.

Click here.

MARC RICH, RUSSIAN MAFIA, MAJOR MONEY LAUNDERING?

Tuesday we reported Swiss and Italian police had made 50 arrests, had arrest warrants for 150 more and had frozen 300 bank accounts, all based on an alleged money laundering network run by the Russian mafia.

More on this story here.

This investigation led to 20 arrests in Italy, 13 in France, and 17 others in Austria, Switzerland, Monte Carlo, and Canada.

More on this story here.

Turns out that two corporations set up by Clinton-pardoned tax evader MARC RICH, may be involved in these dirty cash operations.

More on this story here.

In Moscow PRAVDA alleged the Russian mafia operation also financed Chechen guerrillas and was in touch with the Al-Qaida terror network.

More on this story here.

Oddly enough, the BANK OF NEW YORK is alleged to have been used by the Russian mafia operation. But the US government just cleared the bank of past alleged involvement in just such operations.

More on this story here.

Bank of NY sanctions end.

More on this story here.

NEWSWEEK WAKES UP TO BANK SPYING

The magazine reports what we told you two years ago: Banks are now spying on all account holders with real time software.

More on this story here.

FINE ART OF SALES TAX EVASION

New York wealthy quaking in Gucci boots as they seek amnesty.

More on this story here.
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