Offshore finance countries in and near Europe

    Recently we had discussion with some investors willing to develop financial money services in the EU and got to the point talking about where the head finance accounts should be set up. Some of the investors had the thought that any small country no matter in EU or outside it which is currently developing its economy and infrastructure is an offshore zone for money to be stored in without tax issues, along with high confidentiality. Well do not get confused like them, in Europe (European Union) there are no countries that have this status allowing them to hide bank account information and to protect money transfers from taxes. The only countries that have this feature are not in Europe, but are bordering the EU. Those are Switzerland, Monaco, Malta, Luxembourg, Liechtenstein and Cyprus. Of course there are some others near Europe that just provide some eases for commersial and corporate financial needs, but those are just the best usually used for high-definiton money export.
    We will only focus on the most appropriate and developed offshore banking zones in which money are more than secure and money transfers go without any problems along with the symbolically low taxes rates.
    Money and finances in Gyprus (offshore banking). Cyprus is know to be a separated to two parts contry, with a main characteristic of each sides - Greek influence for one of the sides, and a Turkish for the other. As you may already suppose, the Greek part is considered and know to be the better developed in economical and infrastructure terms. That is the part where actually Banks offer conditions and requirements which suit the money storage of large companies that want to avoid high tax rates. Money transfers to and from banks in this Cyprus part are noticed to have diminutive fees and because of the high international influance, they have great relationships with all the money transfer insitutions all over the world.
   Swiss banking and money transfers. Switzerland does not need an introduction, as it is widely famous with its Banks and offshore finances stored in Swiss bank accounts. Fore some of you Switzerland may seem an overestimated zone, but facts are facts. They really offer the highest confidentiallity for your money and private bank account information, and they avoid being in the European Union which gives them the opportunity not to be ruled by laws that otherwise oblige high tax rates. That is why the taxes that comply in Switzerland does not oblige your finances and you are not supposed to pay the high amount of money that you would otherwise pay in e.g UK, US, Australia, etc. Swiss government holds the position that privacy is fundamental for any financial or money transfer service, and supports the firm policy of any of the Banks situated there.
    Well for now that information would be enough for you if you decide to export your money to an offshore banking zone like Switzerland or Cyprus. If you have any additional questions or want to know specific details mail us and we will do our best to get the info for you.

Work or Study overseas money transfer explanation

     We have always popularized the different specific services for both private or corporate money transactions we offer in Transfermate, but we have never explained in details what are they all about and in which cases you should use a particular specific service among our 7: for the private customers - Work/Study overseas, Propery overseas, Regular transfers, Salary/Pension transfer; and for the corporate clients - General payments, Flexi transfer contracts and Forward flexi contracts.
     Speaking about a specific service we should start with the Work and Study overseas money transfer opition you can use. Here's the thing, many people, or in other words many of you plan to emigrate and move to another country with the intention to work for a higher salary and get more money for the job you've been doing in your home country. First, since there is no way for you to travel with more than e.g EUR2000/USD3000 - EUR3000/USD4000, you need a way to get your initial kick-off money abroad for your easy start in the foreign land. Now here's the choice for you! First you surely will need a bank account in the country you are going to not only for transferring funds but for getting your salary in it, paying your health and social insurance and other taxes. So the thing you can do is to open a bank account for example by using the services of Traveltowork - offshore bank accounts. Now, let's say you've already did that job and you want to get your money into the bank account abroad. Then comes the specific service offered by Transfermate called Work/Study overseas which you can use sending your money to the offshore account in advance, so that you won't have problems in your start there. The services is prepared especially for emigrants with preferential rates and price when going international. Of course, once you already have a job anywhere in the world and want to send money home, the same service is the most appropriate for this need. So that is an example of working abroad and transferring money with a particular private money transfer provided by TM.
     Now, other example of the use of Work/Study overseas money transfer could be if you are a prospective student looking forward to get your education abroad no matter if it would be in an University, College, High-school or whatever education institution you choose, and you need to get money from your home land potentially from your parents to support you financially during your study period. That is why you will need a service to receive money overseas from your ancestors in order to live abroad, especially if you do not have the time or chance to work along with the lectures. In that case, and because of those needs we created the Work/Study overseas money transactions, and again like in the case above you just have to click and fill in the application in order to get your money from the parents bank account to the student one. Again, you can use the offshore banking services of Traveltowork to get your bank accounts set up.
    We hove we were helpful with this post for people working or studying or looking forward to do that abroad.

Did you know?

   Did you know that when passing many international borders it is illegal to carry an amount of money greater than defined for the specific Customs between the two countries? Yes it is. That is why you should, you must transfer the money in advance somewhere you've decided to use them abroad, especially if you are traveling on purpose to make some business payments in real-time.
   Of course there is a chance for you to pass the border with cash that exceeds the limit allowed, but be sure that tons of declarations and documents will follow for you to fill in and explain where do you have the money from, what are you planning to do with them (and therefore to pay taxes on what you're planning to do with the funds).
   Contrasting on the "cash&carry" method to move funds across international borders, the bank transfer overseas differs with the huge huge limits which require some declaration on the use of the money and the avoidance of the annoying Customs, trying to make a criminal out of you, cause if you have e.g more than EUR2000 on the German or the British border, forget to pass in or out without providing the 'nice' Customs staff all the information proving exactly where the sum is coming from and where to it is going. So, please, think reasonably, let the money fly by the wire transfer.

A whole bunch of new fund transfer types (insecure and expensive).

   Reading through the latest improvements and innovations in the field of money transactions I ran onto a whole bunch of innovative types of money transfers - some of them unpractical and useless (insecure, slow or expensive) and some of them very nice theoretically speaking.
   The first new type that caught my eye is the Mobile phone money transfer which sound ridiculous at first glance or hearing but makes some little sense after reading the explanation and understanding the whole idea. See, it is not that easy(and it cannot be, shouldn't be) to make international money transfer as it is to write an SMS, and as expected it involves some additional requirements. The system invented by WU requires everyone who wants to use it to have Mobile Wallet - an application interconnected with your bank account(through the very 'secure' mobile phone) and connected with the servers of WU in order to send or respectively receive money operating from your mobile phone. It is necessary to say that such application is supported only by the very-high class phones, you need to pay for the iNet used mobile, for the application that costs thousands of dollars and of course to pay the charges for the transaction. One, two, tree and you have paid one, two, three things more than if operating with your normal online banking or doing a wire/bank transfer.
   The second interesting type of transferring funds that some very 'smart' people have invented is about doing it from a Credit card machine along with your normal cash operations. Now see, here is the thing now a thief not only can get EUR/USD100-200-500 when you CC is being stolen, now he has the chance to transfer 10 times more into his/her bank account or CC. Nice?
   Our advice to you is to use the best conventional and cheap method when making money transfers - and it is Bank/wire method. First - it is cheap, as it does not involve many employees in the institutions. Second - it is fast - as it relies on point-to-point computer netwoks, And third - it is still the most secure method - as your money have insurance on them, and the fields of data guarantee that there cannot be mismatch in the bank accounts. So... enjoy with Transfermate.

Wire money transfer fee prices estimates in different currencies!

   As always we have decided to provide our customers and mainly the new ones that have not used our transfer services before with additional information. We find it useful for You to have all detailed information you need when deciding to make an international money transfer. So here we have extracted the exact prices of wire transfers with Transfermate converted in the different currencies we support:

For Outgoing Wires In...	Wire Cost
Australia Dollars	20.09 AUD
Canada Dollars	18.85 CAD
Denmark Kroner	123.00 DKK
Euros	17.00 EUR
Hong Kong Dollars	156.00 HKD
Japan Yen	2,244.00 JPY
Mexico Pesos	218.00 MXN
New Zealand Dollars	28.00 NZD
Norway Kroner	133.00 NOK
Singapore Dollars	31.00 SGD
South Africa Rand	146.00 ZAR
Sweden Kronor	155.00 SEK
Switzerland Francs	22.06 CHF
United Kingdom Pounds	12.00 GBP
United States Dollars	21.00 USD

Fresh new blog about the Transfer-Money services

Just created blogger and I am glad to represent the blog-space of the wide-known to almost everybody Transaction-services provider TransferMate. Here you can get up to date with the latest buzzes and news from the Finances world.