9 1/2% High Yield Offshore Savings Accounts

Type of Account - These are high interest paying savings accounts, time deposits or CD's. These are not checking or demand deposit accounts. Penalties will be charged for early withdrawal.

Personal or Corporate Accounts - Either can be used. The corporations require registration and can become costly. It costs $3500 for a domestic corporation. Offshore corporations from different jurisdictions are not really feasible. They require domestication, registration , registered agent, registered address, etc. Best to use a local corporation if a corporation is needed. Personal accounts are less expensive, faster and easier. Personal accounts can be opened in one to two working days.

Signatory - You are the signatory on the account. There can be up to three signatories on the account. The signatories can be verified with the financial institution before any funds are deposited.

Commercial Activity - These are savings accounts. The money is time locked. This is not for commercial money activity.

Interest Rates -

* $100,000 minimum deposit amount for 2-4 year term pays 9.5% per year.
* $100,000 minimum for 5 year term pays 12%.
* $25,000 minimum accounts can be opened for 2-4 years, paying 5%.

Interest is paid every month to individuals over 55, every 90 days to those under 55 years old. Yes the interest payments can be taken out as they come due. They can be paid by wire transfer, loaded onto a credit card or a check can be cut. If you come in person a check can be issued to you, then endorsed and cashed on the spot.

The above interest rates apply to USD savings accounts.

Currencies - You can invest in USD, Euros, Cad, and Yen. Above rates are quoted only for USD. Other currencies will have varying interest rates. Inquire. USD rates are generally the best yield.

Credit Cards - With deposits of at least $250,000 a special VISA black card with all the special services can be issued. The money can be tied up in a high yielding savings account getting 9.5% for two years and a Black VISA card could be issued. The credit limit would be 70% of the savings account principal balance. The VISA charges would need to be paid in whole monthly. If partial payments were made interest would be charged on the unpaid balance. If the VISA payment was not paid at all after 90 days the savings account would be broken with a prepayment penalty to settle the VISA charges. Cards will have to be in a personal name only, no corporate cards. If you prefer to have a lower profile VISA card without the special services and concierge services of the Black VISA we can arrange a VISA GOLD or PLATINUM. The same 70% ratios would apply.

Account Access - You will be assigned a personal banking representative to assist you in all matters, Monday through Friday, normal banking hours (CDT). Contact can be by telephone or secure email. All the representatives speak and write perfect English and Spanish. They will assist with wires in and out, balances, history, interest payments and any other issues that may arise.

Country of Financial Institution - Mexico

Type of Financial Institution License - Licensed Financial Banking Institution. Mexico monitors their financial institutions far more than most countries. Regulations are tight and rigidly enforced.

Documents required to Open an Account - Scans of a Passport and Driver License in color. These can be sent by email as file attachments. staff@panamalegal.org We do not require any bank reference letters which can trigger a suspicious transaction report in some countries. We also do not require any lawyer, or accountant reference letter. Just scans of the ID.

Source of Funds - Like all financial institutions source of funds statements are required for deposits. This is generally done with a brief explanation on the new account opening form.

Time to Open Account - One to Two days from time of receipt of fee and documents.

Account Opening Fee - $495

Summary - This is a good investment opportunity for those seeking a high yield offshore deposit account. The institution specializes in government loan programs, real estate loans, and credit card loans. Mexico has very high interest rates for borrowers thus the financial institution is able to offer such a generous yield on investments. The economy in Mexico is strong. Questions welcome.

http://www.panamalaw.org