Pacific Orient

Access the global market in privacy and security. Expand your options and achieve more from your pension and finances. With the expansion of the global market and individuals desire to escape taxes, offshore markets are now accessible and easy. Many governments are allowing the inevitable, and lifting restrictions that have previously prevented many from reaching their potential benefits.

For example, In April 2006 it was announced that British expatriates with a UK pension scheme who now lives overseas as an expatriate, or is planning to leave the UK can now transfer their existing pension provisions into a QROPS (Qualifying Recognized Overseas Pensions Scheme). The financial benefits can be huge if professional managed and planned in advance. By doing so, you can be sure to expect higher investment growth, more flexibility, and future financial security by starting now. Additional benefits include not having to purchase annuity, ability to take a large amount transfer, and un-spent pensions can be transferred to beneficiaries.

With any financial advice it is recommended you work with qualified professionals, and the following is available for insight and review

Getting Past The Government and Its Acronyms

For some reason governments like to use acronymn and complex terms. This is where a professional would come in, but here are the basics. Her Majesty’s Revenue and Customs (HMRC) permit UK pension rights to be transferred to a Qualifying Recongnised Overseas Pension Scheme (QROPS). The QROPS must act as if it were a UK based scheme for QROPS who have been residents in the UK at any time in the previous 5 years.

Qualifying Recognized Overseas Pension Schemes

In an effort to protect the tax revenues of the UK by taxing income from annuities, taking residual value on death, and stopping pensioners spending all of their money; UK Pensions are notorious for being tied up in many layers of restrictions and regulations.

However, citizens overseas can bypass with an HMRC approved QROPS while endulging in the numerous other advantages of living abroad.

Benefits and Costs of QROPS:

• No need to EVER purchase an annuity or pay UK tax charge upon death.
• Leave ALL unused pension funds to your beneficiaries free of tax at source.
• Much greater investment freedom.
• Tax free lump sum, even if you have already taken 25% from your pension.
• Onshore / offshore funds, highest fixed deposit rates, total diversification.
• Take income from your pension in a much more tax efficient way.
• Take income and benefits in currency of your choice.
• Protection against possible future creditors. (Dependent on QROPS jurisdiction).
• Greater confidentiality.

Off Shore Accounts

Although, it is usually labeled as lucrative or mafia-like, off shore accounts are an actual option for many. Individuals, companies, conglomerates and even governments often need to move money around the world and off shore accounts are essential essential to facilitate this transaction.

Legal Issues About Off Shore Accounts

When discussing about offshore bank accounts it is important to start out by saying that if you are an American citizen, it IS NOT ILLEGAL to open an offshore account. There are conditions that can make this illegal, and again is where a professional can help consult on this and prevent you from facing criminal charges.

Risks of Off Shore Accounts

Banking in the United States may give you the impression of being secure by the government, but there are definitely no guarantees with offshore bank accounts. Also, with more people researching the off shore market, scammers and mis-information is rampant. This can all be reduced if you use a qualified professional, regardless of your nationality, when exploring your potential with offshore accounts.

Your Pension – Your Money

The benefits of being in control of your pension fund are immense for those living abroad! Not only can you benefit from being able to invest into a more diversified range of asset classes, but you can also take tax free benefits if structured correctly. Remember it is YOUR pension fund & YOUR money as you have worked for it!

New York is a city that is known around the world and offers something for everyone. There are many ways to get to know the city, but one of the best ways may come as a little surprise – atop a Double Decker bus!

CitySights NY, is a well-known and recognized leader in the sightseeing industry, offers a fleet of shiny new Double Decker bus that offers the best possible view of New York City’s best attractions. The tours do not restrict you to only the bus. The bus is able to get you into the heart of the city, allowing you to hop-on and hop-off service.

CitySights NY offers the best value services and includes various sightseeing packages that range from various options of NYC Tours:

• Major Attractions
• Harbor Cruises
• Museum Visits
• Helicopter Tours
• Shopping Trips
• 1-Day Tours

CitySights sight seeing tours are not only restricted to New York. For tourist seeking to visit other major cities such as: Boston, Washington D.C., Philadelphia, and Amish Country.

Be sure to take advantage of the amazing night tour that offers a spectacular view of the illuminated Manhattan skyline and includes a special stop on the Brooklyn waterfront.

For those who are short on time and want to get to know the Big Apple, the Brooklyn Tour is the tour to take. Get a glimpse into the trendy neighborhoods that many great musicians grew up in.

The buses offer high tech public address system with speakers located under ever seat to insure all riders are able to hear insightful information from the tour guides. The buses offers a comfortable environment with heating coils situated throughout the top deck flooring, so that tours are pleasurable even during the winter.

During cold and bad weather, City Sights NY buses have the ability to add their removable canopy made of clear, see-through material, that allows not only for warmth but also a clear view of the sights of New York.

If your headed for New York and looking for the perfect way to see the Big Apple, City Sights NY offer a wide range of unique tours that will leave a lasting impression.

When doing business in Taiwan, if there is one Chinese word an American business person will come to know, it is kuan-hsi. Its most basic English translation is “connections.” However, Kuan-hsi (pronounced “gwon-she”), like most Chinese words, has a much deeper meaning.

Traditional Chinese culture stresses the importance of human interaction. The essence of this interaction is kuan-hsi. It goes far beyond the American concept of networking. Kuan-hsi is developed over a long time period. It reaches down into every aspect of Chinese society, influencing social, political, and commercial relations.

Establishing Kuan-Hsi

A business person’s kuan-hsi building begins with the initial contact. Since the Chinese place heavy emphasis on personal relationships, it is important for the American business person to realize that his/her Chinese counterpart will first want to be on a closer personal basis before actually doing business. Therefore, it is mandatory that American firms take the long-term approach. Before actually looking for business deals Americans should look for a business counterpart in Taiwan.

Americans should seek out the representative of the company with which they want to cooperate. Introductions through a mutual friend, through the American Institute in Taiwan (AIT), or through international Commercial and social groups provide a necessary human touch. In the United States, business is often conducted through an impersonal advertisement, catalog, or telephone inquiry. Many U.S. manufacturers have no personal knowledge of their customers. In Taiwan, this is not the case. Chinese prefer to do business with people they know. In Taiwan, a human connection will open many doors. The American firm should then follow the personal introduction with an official letter, fax, or telex to arrange a meeting.

During the initial contact period, one way to make a good first impression is to show respect for the Chinese language. As in most Asian societies, the business card has become essential. Although many professionals in Taiwan speak English, an American business person interested in Taiwan should take the time to have bilingual business cards printed. It must be made clear to the printer that complex characters are used in Taiwan. In addition, businesses in Taiwan greatly appreciate foreign business literature translated into Chinese. Making this effort paves the way for a successful initial contact and creates the proper atmosphere for the important first meeting.

The first meeting might take place over a meal at the invitation of the Chinese. This generosity is essential to Chinese business contacts. Sharing a dinner can be important in building friendships that will foster the needed trust for doing business in Taiwan. A final hint about your first banquet is to show appreciation for the food. The Chinese take great pride in their cuisine. Also, plan to reciprocate. Chinese are both gracious hosts and guests.

Effectively Using Your Kuan-Hsi

As your business dealings develop in Taiwan, kuan-hsi becomes ever more important. Businesses in Taiwan understand commercial relationships as a cooperative effort, rather than a series of black and white contracts. U.S. companies must realize that flexibility is the sign of a healthy business relationship and is mandatory to succeed in Taiwan. The reason that flexibility is so important is the type of firms most Americans deal with in Taiwan. Businesses in Taiwan are generally small- to medium-sized operations managed by an extended family. These businesses survive by exploiting niches in the market; therefore, they need to be able to adapt rapidly to the ever changing market situation. Successful American companies must adjust their products, procedures, and services to the current market situation.

The best way to strengthen and utilize your kuan-hsi is by an on-island presence. If your company is looking for a long-term commercial relationship in Taiwan, consider opening an office on the island. If that is not feasible, develop a strong working relationship with your agent. Also, senior company officials should visit Taiwan often and invite their counterparts to the United States. This expense is a good investment. Actions such as these show commitment, sincerity, and respect for your Chinese counterpart.

Although kuan-hsi can open many doors in Taiwan, it is not a substitute for quality, price, and service. Businesses in Taiwan are astute buyers and are increasingly aware of what is available on the world market. American firms must realistically price their products and services. They should realize that their prices need to be competitive with those from Japan and Europe.

American companies also need to make an effort in their after-sales service. If the firm can afford it, have service people on the island to answer clients’ needs. At the very least, be prompt in answering telex, fax, and written correspondence. There is a Taiwan joke which American businesses need to overcome to make their after-sales service more attractive to Taiwan businesses: “When something goes wrong, the Japanese send engineers. The Americans send faxes.” Paying close attention to pricing and service establishes a good reputation and builds strong kuan-hsi in Taiwan.