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!

A recent report has shown that medical tourism and cut-price cosmetic surgery is becoming almost as popular as a tropical beach for nearly one in three Australians choosing a relaxing getaway.

A survey by travel website Total Travel found that 31.5% of Australians would love to relax by a pool in a tropical destination such as Malaysia, Sri Lanka or Thailand, while saving thousands on surgery.

Managing director of Totaltravel.com Malcolm Baker, said society was centered on the body beautiful.

“People are very conscious of how they look. I’m not surprised that the travel industry is taking advantage of this social trend and that cosmetic surgery holidays have become so popular.”

A survey by the Australian Society of Plastic Surgeons carried out earlier in the year found a growing number of patients seek further medical help when they return home because of complications regarding the surgery. This has prompted a warning from plastic surgeons about the dangers of cut priced surgery.

Cut Priced surgery in a popular tourist destination can be risky, before deciding whether or not your chosen surgery should be done in another country, important in-depth research should be carried out and the patient should be fully aware of the possible dangers from undergoing surgical procedures in particular hospital or clinic.

We at ThaiMed specialize in organizing personalized medical tours in Bangkok, Thailand. Offering a wide range procedures including dental, orthopedic and cosmetic surgery’s, sexual replacement surgery, penis enlargement and vaginoplasty, Thaimed can help you tailor make a professional medical tour in Bangkok.

TAIPEI, Oct 1

American Express is expanding in Taiwan through a tie-up with the island’s EVA Airways as foreign interest in Asia’s fourth-biggest banking market heats up.

American Express will issue a co-branded credit card on Monday with EVA, the island’s No. 2 carrier, after the U.S. company halted issuing new cards for several months last year due to mounting defaults.

Taiwan’s financial sector has become a target for major foreign banks such as Standard Chartered and private equity funds like Carlyle Group [CYL.UL] seeking acquisitions at lower multiples than elsewhere in Asia as Taiwan lenders return to profit.

Taiwan’s domestic banks had a combined pretax profit of T$47.63 billion (US$1.47 billion) from January to July, swinging from T$7.4 billion in losses for the full year of 2006, latest government data showed.

Standard Chartered recently completed its US$1.2 billion merger of a Taiwan lender, while Citigroup  finished its US$436 million merger of another bank.

Here is a few reasons why you should start invest in Taiwan:

1. Deep industrial base and strong vertical integration in IT and electronics sectors.

Taiwan’s economic strength is rooted in its industrial base, which started with a manufacturing boom in basic-level exported goods and progressed to technology-intensive industries, such as electrical goods and chemicals. Today Taiwan is one of the world’s largest producers of computer-related products, and boasts an extensive, well-established network of industrial zones and a growing number of high-technology industry clusters, which are supported by high-quality human resources and fully integrated supply-chain networks.

2. Strial research and development capabilities

Taiwan’s rise to prominence in the IT industry has sparked a growing industrial research and development sector — according to the “Indicators of Science and Technology, Taiwan” published in 2006 by National Science Council (NSC), national expenditure on R&D as a percentage of GDP rose from 2.44% in 2004 to 2.52% in 2005. In the same year, Taiwan published 15,661 scientific dissertations, the 18th highest in the world, and held 5,118 US patents, the fourth largest quantity in the world after the US, Japan and Germany.

3. Entrepreneurial and innovative corporate sector

A strong work ethic and carefully managed economy has produced a nation of aspiring entrepreneurs. As a society that places high value on lifetime careers and employment, many Taiwanese seek to create sustainable and profitable businesses. The majority of businesses in Taiwan are small and medium-sized enterprises, which are known for their novel and innovative approaches to business — particularly in the technology sector, where Taiwan has one of the highest numbers of utility patents in the world.

4. A leading source of venture capital in Asia
Taiwan is home to the largest venture capital industry in Asia. By the end of 2005, there were 231 venture capital firms actually operating in Taiwan, which have raised a total of NT$189.3 billion for 10,295 investment projects, amounting to support for 368 listed and over-the-counter companies. About half of all listed companies in Taiwan are backed by venture capital — although only NT$139 billion has been invested in domestic industries by Taiwan venture capital funds, the industry has generated NT$2 trillion in capital.
5. Advanced harbor infrastructure and central hub for Asian transportation routes

Taiwan has a well-developed harbor infrastructure that accommodates a full range of shipping and transport needs. Two major harbors, Kaohsiung Port and Keelung Port, are in the process of becoming free trade zones, enabling more expedient customs procedures, a faster flow of goods and lower business operating costs. The island’s central location offers the shortest shipping times to the major ports of the Asia-Pacific region, averaging 3 hours by air, and 53 hours by sea from Kaohsiung Port.

6. Mature B2B infrastructure

Taiwan’s highly-integrated industrial base is supported by a mature B2B infrastructure, which has received ample government support. Several programs sponsored by the Ministry of Economic Affairs have allocated over NT$530 million in subsidies to develop E-commerce trade networks for a wide range of industries, including IT services, petrochemicals, textiles, and auto manufacturing. A notable E-business platform has been established by the Taiwan External Trade Development Council, which links more than 20,000 Taiwan exporters globally.

7. Chinese and international market experience
Taiwan serves as an ideal test market for companies interested in Mainland China investment, as close cultural and linguistic ties have given Taiwanese businesses an edge in navigating China’s emerging markets. An export-driven economy has brought Taiwan the vast experience needed to work together with international companies, placing the island in a prime position to play a key role in the future integration of the Asia-Pacific region.