The Nestmann Group keeps you up to date on important trends, developments and risks that may affect you. Here’s what’s new…
Talk about comeuppance. New York governor Elliot Spitzer, the poster boy for ethics on Wall Street and elsewhere in the financial markets now finds his political career in ruins. And it's all because of an almost-unknown law: the Bank Secrecy Act.
Debunking the Panama Passport Myth Regularly, we receive inquiries about Panama's "instant passport" program. But here’s the deal: Panama does NOT have a legally sanctioned economic citizenship/passport program. But, there…
In the last few months, I've received several e-mails requesting assistance in obtaining an "Anti-Terrorist Clearance Certificate."Â They supposedly need the certificate to claim a monetary award, generally for US$100,000 or more, purportedly from an offshore source.
If you live or do business in the United States, you're almost certainly a criminal, even if you don't know it.
Joe’s an average American guy. He and his wife Jane live in a three-bedroom tract home in the suburbs with a couple of children. Joe has a middle-class occupation. So does Jane—they…
As I described in yesterday's blog entry, Austria has one of the world's strongest bank secrecy laws. Critics of bank secrecy laws claim that they help criminals shield illicit gains…
There's no point denying it—banking fees and commissions in Austria—and many other offshore financial centers—are substantially higher than in the United States. Fortunately, there are some ways to reduce them.…
Corporations are the traditional way to limit personal liability in a business. A corporation has a separate legal personality from its owners, officers, and directors. This legal personality provides a "corporate…