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Offshore TERMS - Offshore DICTIONARY - Offshore GLOSSARY
What is the meaing of... ? Badges of Fraud - Bank of International
Settlements - Bank Secrecy - Bearer Bond - Bearer Shares - Board of
Trustees - Business trust.
Badges of
Fraud. Conduct that raises a strong presumption that it was
undertaken with the intent to delay, hinder or defraud a
creditor.
Bank of International Settlements (BIS). Structured like
America's Federal Reserve Bank, controlled by the Basel
Committee of the G-10 nations' Central Banks, it sets
standards for capital adequacy among the member central
banks.
Bank Secrecy. In most countries one of the terms of the
relationship between banker and customer is that the banker
will keep the customer’s affairs secret. Staff members are
normally required to sign a declaration of secrecy as
regards the business of the banks. Where numbered accounts
are used their purpose is to limit the number of persons who
know the identity of the client. In certain countries (e.g.
Switzerland and the Cayman Islands) specific legislation
makes breaches of bank secrecy subject to criminal law
sanctions. However, in all legal systems (including
Switzerland) there are specific cases where the duty of
secrecy of a banker is discharged, e.g. where fraud, money
laundering and narcotics are involved. The exchange of
information clause contained in most tax treaties may enable
the tax administration of one treaty country to obtain
information concerning bank accounts which its residents
have in the other country.
Bearer Bond. A bond issued in bearer form rather than being
registered in a specific owner's name. Ownership is
determined by possession.
Bearer Shares. Shares in the capital of a company which are
transferable by delivery of the certificate. They do not
display a shareholder's name but instead grant ownership
rigths to any individual who is in actual physical
possession of the certificate(s) Unlike registered shares,
which are transferred by an instrument of transfer and
display the shareholder's name on the actual share
certificate, the name of the holder is not registered in the
books of the company.
Beneficiary. The person(s), company, trust or estate named
by the grantor, settlor or creator to receive the benefits
of a trust in due course upon conditions which the grantor
established by way of a trust deed. An exception would be
the fully discretionary trust. The beneficiary could be a
charity, foundation and/or person(s) which or who are
characterized by classes in terms of their order of
entitlement or their hierarchy.
Board of Trustees. A board acting as a trustee of a trust or
as advisors to the trustee depending upon the language of
the trust indenture. Also see Committee of Advisors.
Business trust. A trust created for the primary purpose of
operating or engaging in a business. It is a person under
the Internal Revenue Code (IRC). It must have a business
purpose and actually function as a business.
Information About:
Anguilla Offshore
Corporation -
Belize Offshore Corporation -
British Virgin Islands
Offshore Corporation -
Dominica Offshore
Corporation -
Gibraltar Offshore Corporation -
Panama Offshore
Corporation -
Seychelles Offshore Corporation -
USA LLC Offshore
Corporation -
USA Delaware Offshore Corporation -
USA Oregon Offshore
Corporation
ALL or NONE -
ARBITRAGE -
ASK -
AUTOMATIC EXECUTION
- BASIS POINT -
BID -
BROKER -
COST OF CARRY -
COUNTERPARTY -
ENTRY ORDER -
FOREX -
FOREX TRADER -
LEVERAGE -
LIMIT ENTRY ORDER -
LIMIT ORDER -
LONG POSITION -
LOT -
MANUAL EXECUTION -
MARGIN -
MARGIN CALL -
MARKET MAKER -
MARKET ORDER -
MINI ACCOUNT -
OCO ORDER -
OVERNIGHT -
PEGGING -
PIP or POINTS -
POSITION -
PREMIUM -
QUOTE BUY SELL -
ROLLOVER -
SHORT POSITION -
SLIPPAGE -
SPOT FOREIGN
EXCHANGE - SPREAD -
STOP-ENTRY ORDER -
STOP-LOSS ORDER -
SWAP -
TICK -
VOLATILITY -
WHIPSAW -
WHISPER NUMBER
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