Banking & Investment

The System of Offshore Web Money Integration

Introduction

The internet provides prime opportunities for the acquirement of funds. A successful web page can generate profits in the form of affiliate programs, direct billing for services or products and of course advertising. Efficient management of these profits can result in increased financial security.

The benefits of such a system include

a. Financial security and privacy, by choosing to deposit funds in an offshore banking system that has strict privacy regulations favoring the bank account holder factors negatively affecting the future availability are eliminated.

b. Stability, the bank account is usually held in a stable currency such as gold, silver or platinum. These currencies have been proved to appreciate steadily throughout history. Global financial and political instability are less likely to affect precious metals.

c. Tax Havens, directing your internet income directly to your offshore bank account avoids the heavy local taxation of your income. Offshore bank accounts in locations such as Panama have the benefit of no taxation.

d. Remote banking, the remote management of such offshore banking locations is usually a built in feature and allows for the manipulation of funds globally with internet access. International debit cards allow for the withdrawal of funds from any location and electronic currencies provide for the safe, secure and private transfer of funds to any entity in any location.

How it works

This system is based on the principle of directing funds from the paying affiliate, advertiser or billing system to the payee’s offshore bank account. This is usually done with a bank wire transfer which the majority of payment systems provide for. Exchange services also provide such accomodating services in the event that the banking service does not.

Example

Bill has a web page that attracts a substantial number of visitors per day related to discount medication. He decides to sign up for buydiscountpills.com’s affiliate program. In his affiliate setup screen he opts for the option to receive his funds through a wire transfer and fills in the payee info with his name and ‘Netpay’ account number. Therefore every month he receives a payment in his Netpay account. His account is based in Panama and is governed by the Panaman goverment’s privacy rules, he does not have to pay any taxes and no one knows about his funds. He purchases a debit card from Netpay and so he can go to any ATM machine whether at home or abroad and withdraw cash for his personal use.

Legality

This concept is completely legal by the laws of offshore havens such as Latvia and Panama. The funds are received directly into the offshore bank account so are therefore not considered taxable in local jurisdictions. For your own advantage please consult your relevant local laws for any unusual requirements on income taxation.

Alternatives

Instead of using a billing system to charge for services and products the offshore banking e-currency can be used as a replacement. This is an advantage as the billing system is bypassed completely however such e-currency accounts do not provide for the direct processing of credit cards with the buyer required to use his credit card through an exchange provider.