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Ask us your questions or request our information Offshore
Banking
About
Using
Offshore
Trusts
The
Bahamas
Dominican
Republic
Forming
a Panama
The
Panama Offshore
Is
it Better in
Investing
With
About
Y2K
The
Premium
The
Stock Exchange
Dominican
Republic ~Secret Tax Haven
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The Ideal Offshore Investment Account offering:
The Premium Account was designed to
offer investors maximum convenience and flexibility by combining a traditional
brokerage account with a bank savings account. By offering our clients
a way to earn a higher rate of interest that may be found with such investments
as 90 day Commercial Paper or longer term Bonds, clients have the comfort
of knowing that their investments are earning some of the highest current
interest rates possible. In addition, by having access to their investment
income 24 hours a day, 7 days a week via their bank debit card, investors
can obtain funds any time they wish. Income or interest from investments
is automatically transferred to your bank savings account, thus earning
additional interest from the savings account, and making availability of
funds quick and convenient. The client is in essence receiving
a brokerage account and a local bank savings account with one simple application
form.
The client must complete the enclosed
application form and the required bank signature cards. The client
must also include two clear photocopies of their passport (indicating photo
and signature). If an account is to be titled in the name of an offshore
entity, such as a corporation or foundation, two clear photocopies of the
complete incorporation documents must be enclosed as well. The entire
process is fast, easy and can be completed either by mail or in our office.
Once the application and related documents have been received, the brokerage
firm will establish a Premium Advantage Account and assign an account number
to the client. The investor may pre-fund the account with a US dollar
check payable to: Transacciones Financieras S.A. to be included with the
application, or may wire transfer funds after an account number has been
assigned.
Investors have the opportunity
to participate in:
There are no additional fees or individual commissions that are passed on the client when an investment is made with the above mentioned invesmtents. US brokerage firms often receive a placement fee or investment-banking fee directly from a corporate client when issuing bonds or other investments. In addition to that, they charge an additional brokerage fee when a client purchases an investment. We think this type of “double-commission” is both wrong and unfair for the client. Just like a US brokerage firm, Transacciones Financieras receives an investment-banking fee for assisting a corporate client with a commercial paper or bond offering. We believe that the investment-banking fee is sufficient compensation. As a result, we do not pass along any additional transaction fee to the client. When a client invests in a 90-day Commercial Paper or Bond instrument, all of their funds are put to work - earning interest at the stated rate. This arrangement offers the best value and maximum return for the client and in all practicality offers an investment on a no-load basis. The only fees due from the client for our Premium Advantage Account is the annual account maintenance fee mentioned below.
The initial and annual account maintenance fee is only US $250, which should be enclosed with the application. The minimum to establish the account
with an investment in Dominican Pesos is RD$ 200,000 (Dominican Pesos)
or for an investment in US Dollars US$10,000.
When a client makes a Commercial Paper or Bond investment, a physical certificate of ownership is prepared and sent to the client (or held by the broker in safekeeping if that is desired). There is no book-entry ownership currently in the Dominican Republic. All investments are evidenced in certificate form. Unlike some bond investments in the US which are only available via book-entry registration, the client will receive a physical bond or commercial paper certificate for any investments made through their Premium Advantage Account Statements are prepared monthly. The client will receive a separate statement from the bank, indicating activity for their special linked savings account. In addition, they will also receive a Premium Advantage Account statement from the brokerage firm. Interest earned from a US dollar denominated investment made through the Premium Advantage Account is not subject to taxation in the Dominican Republic. Interest earned from a Dominican Peso investment titled in the name of a Dominican resident or Dominican Corporation is not subject to local taxation providing that the monthly interest income does not exceed RD$8,000. Premium Advantage Accounts titled in the name of a Bahamas IBC, Panamanian Company or Panamanian Foundation can enjoy interest 100% Tax Free in the Dominican Republic regardless of the currency or interest amount.
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