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Recently some colleagues were asking me tough questions about Capital Conservator, an offshore service provider company, that we’ve been recommending, here on OffshoreNet, for several years, so I sent them the following questions.
Q: Were CC bank accounts frozen in 2010? If so for how long? and were losses experienced by customers?
A: No CC accounts have ever been frozen anywhere and not one customer has lost one penny. Because of the problems in Macedonia, in which CC was never charged, but suffered collateral damage, Citibank and HSBC primarily, waged a war against us blocking our outgoing wires, so there were delays but no losses.
Q: Were there card product failures in 2010?
A: No, when we refused to let CSC debit our account for alleged “fraud” claims from Citibank without ANY evidence whatsoever, they canceled our account. Before that cancellation took effect we already had a new card program with Loyal Bank and have a second one with another bank already signed, which should come online within 30-45 days, and are negotiating a Visa program with a Russian Bank.
Q: What steps have been taken to avoid potential problems in the future?
A: We do no banking in CC’s name. CC is now only a marketing company. All banking is done in the name of 4 other NZ Trust Companies, all of which have been approved by the NZ Government as regulated Financial Service Providers. Further, we receive incoming wires at one bank, and send outgoing wires from other banks. We currently have 3 banks. This makes it much harder to have the problems we experienced in the past. Everything is diversified, but centrally controlled. Also, our investment accounts are in different company names than our main banking accounts, and our gold accounts in yet another company name.
Q: CC has moved offices, to where? and why?
A: CC closed its Uruguay office because the hard-left government there made it impossible to work there. They were removing all of the financial privacy laws and the Banco Central wanted to regulate us even though we did NO financial inter mediation there. We still have people working for us in Uruguay as contractors from their homes. We also have offices in San Jose, Costa Rica, Valencia, Spain, Novi Sad, Serbia, and are in the process of opening offices in Larnaca, Cyprus and Zug Switzerland in the next 30-60 days.
Q: CC is offering new products, what are they and who are they designed for?
A: CC offers the following products:
- trust banking accounts in USD, EUR, GBP, CHF, AUD and NSD. The majority of our outgoing wires are received in 1-2 banking days.term deposits in USD, EUR and GBP that are 100% Central Bank guaranteed
- precious metals purchasing
- online investment accounts that the client can manage, but without disclosing his identity to the broker. We have one in Gibraltar now and will have a second (Not Thales) in Panama shortly, which will even accept “physical certificates” for stocks.
- MasterCards in EUR and USD.
- Cirrus/Maestro Cards in EUR & USD.
- No name Cirrus/Maestro Cards in EUR & USD.
- Soon an Instant Issue No Name MasterCard.
- A full range of offshore companies, trusts and foundations in multiple jurisdictions.
- High-level international asset protection and tax reduction structures that have withstood scrutiny even by the IRS and US bankruptcy courts intact and unscathed.
- Nominee director and owner services for qualified clients.
- Live customer service in Spanish and English 16 hours during banking days. Portuguese by appointment.
- Prospective customers who prefer not to send documents through the post or by courier can personally present them at our growing number of customer contact centres where they will be copied and accepted for due diligence purposes.
- Our target clientele includes high net worth individuals who require sophisticated international structures; legitimate businesses with international clients who prefer to only pay taxes on their domestically generate income, and active investors who want to do so anonymously and on a tax free basis.
A: Clearly the growth of “Big Brother” and the loss of privacy is the greatest threat. CC addresses this threat by constantly adjusting its financial partners, offices and modes of operation to offset these threats. CC has no particular loyalty to any country and will reinvent itself where ever the climate is favorable for its work. By splitting into multiple offices, we reduce our profile even more and can do some aspects of our business more easily and legally in one place rather than another. Like a multi-national corporation, we put different departments in the places they can operate most freely and with the least interference.
Q: Do you foresee a time when bank privacy will no longer exist?
A: No, while Panama can afford to “sell out” because its chief revenue is from the canal, many smaller states need the “offshore” industry as a mainstay of their economy. Witness the fact that Liechtenstein has chosen to go just the opposite direction of Switzerland, and small pacific countries like the Cook Islands and Vanuatu, have increased their offshore industry. Because of their relative isolation, it is very difficult to put much pressure on them. Additionally, jurisdictions like Cyprus and Gibraltar are reinventing their previous offshore regimes as low tax onshore regimes. Also, the US has taken no steps to change its offshore status for all non-US persons.
Q: What is the greatest value proposition of CC?
A: All of the services noted above can be accessed with one application in the most private means available today by skilled professionals.