Offshore Banks/Shell Corporations
Arabic translation: بنوك أوفشور - شركات هيكلية أو شركات واجهة
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| 13:28 Jan 7, 2003 |
| English to Arabic translations [PRO] Bus/Financial | |||||||
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|  Selected response from: Azimof Saudi Arabia Local time: 12:17 | ||||||
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الشركات الهيكلية/ بنوك خارج حدود الصلاحيات القانونية للدول التي ينتمي إليها أصحابها Explanation: Here is a difinition of off shore from the Offshore Trading Glossary: Offshore (OS). Offshore is an international term meaning not only out of your country (jurisdiction) but out of the tax reach of your country of residence or citizenship; synonymous with foreign, transnational, global, international, transworld and multi-national, though foreign is used more in reference to the IRS. Here is an explanation of Offshore Banking from the same source What is Offshore Banking? Most people do not have the slightest understanding of offshore Banking. They simply accept the distortions they read or hear about offshore banking as some form of clandestine activity. Or they ask their lawyer, accountant or financial planner, who advises that it's either too risky, illegal, immoral or unethical. The fear and unknown about offshore banking is simply a result of education. Very few out there, including the proponents and opponents, actually understand the issues involved. The US government and American banks realize that any money that leaves is money that can no longer be legally controlled or taxed. Unfortunately, those that promote offshore banking have done little to alleviate fears and suspicions of the public. These promoters have given the governments and bankers the ammunition needed to keep the public in a state of fear or suspicion regarding offshore banking, investments and opportunities. Closer Examination There is not and will never be a law restricting the sending of funds outside the USA. As a country dependent on International trade the American economy would be destroyed. How? Since all US global trade is transacted in US dollars, there would be no exports or imports, due to the fact that the United States would not be able to buy and sell goods. If you wanted to, you could move or transfer some or all of your money out of your bank or credit union to anywhere in the world. This is entirely legal. US banks and the IRS disseminate negative propaganda dealing with offshore banking, making it seem unsafe or some type of criminal act. Why? Banks desire to keep money in their institutions to use for their own profitable purposes. Most US banks themselves accept deposits from people overseas and often invest in foreign stocks and hold accounts with foreign banks. On the other hand the IRS wants to keep money in US banks where every dollar earned in interest can be taxed. One might ask, if these banks are so good, why don't they advertise in the US? Federal law restricts off shore banks from advertising their services in US magazines and newspapers, unless they agree to the same restrictions that govern FDIC institutions. Another reason the US government has constructed US banking law in its present form is to prevent competition. The internet changes that forever. Now opening an account with an offshore bank is as simple as writing a formal letter to the institution and requesting information about their various services and the appropriate application forms. Most offshore centers never have to see you in person. All offshore banks are regulated in one form or another, but the regulations are usually far less restrictive than US law. Less restrictive regulations abroad allow foreign banks more freedom in locating the best investments worldwide. Allowing them to pass on and share their profits with their customers. Additionally, the majority of the worlds largest and strongest banks are non-US banks. The Arabic Term can be formulated accordingly: بنوك تقع خارج سيطرة دول أصحابها بنوك لا تخضع لسلطة حكومات أصحابها Merriam Webster Defines Shell corporation as: a company that exists without assets or independent operations as a legal entity through which another company or corporation can conduct various dealings. Arabic Term: الشركات الهيكلية الشركات الهيكلية/ بنوك خارج حدود الصلاحيات القانونية للدول التي ينتمي إليها أصحابها |
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5 hrs confidence: peer agreement (net): +1
peer agreement (net): +1بنوك أوفشور - شركات هيكلية أو شركات واجهة Explanation: Offshore is translated as is i.e. writing the English term in Arabic letters. This is a coomon practice in banking. أجنبية may mean foreign banks Shell company is a bussiness without assets or independent operation, created as a legal entity through which another company may conduct certain deals. I am a banker. |
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5 hrs confidence: peer agreement (net): +1
peer agreement (net): +1بنوك الأوفشور - شركات هيكلية أو شركات واجهة Explanation: Offshore is translated as is i.e. writing the English term in Arabic letters. This is a coomon practice in banking. أجنبية may mean foreign banks Shell company is a bussiness without assets or independent operation, created as a legal entity through which another company may conduct certain deals. I am a banker. |
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