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Issue 1 |
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News from Anguilla Happy New Year! In the course of an investigation into a dubious investment offering (of which, more later), we were referred (by David Marchant, editor of the well-read and well-respected "Offshore Business News & Research"), on to the wonderful website of I.T.I Management in The Bahamas (at www.itiltd.com). There we found a series of informative, witty, newsletters, often put out at monthly intervals. This has inspired us to do likewise. If you don’t wish to receive them please send an e-mail to removenews@ceg.ai . If, on the other hand, you want to expand the reader base, forward this attachment and ask the recipient to click getnews@ceg.ai. At this point, we gratefully acknowledge the source of some of the content and text in this newsletter as being that of I.T.I and its Chairman, Roy Bouchier. We will be developing our own content over the coming issues. These will be sent out as e-mail attachments to present and prospective customers; individuals, companies and institutions having an academic or practical interest in the world of International Financial Services; company practitioners; and referrals form any of these groups. We welcome feedback, comments and corrections where appropriate, all of which will be published, although we would not normally disclose the identity of the sender unless specifically requested. Each newsletter, when composed in ":Word" has a target length of two or three pages – thus being easier on the reader’s time (as well as that of the composer!). They will be sent out at least every month. Their overall purpose is to improve communications and disseminate news. Many changes are taking place in the International Financial Services sector, not just in Anguilla, but world-wide; for example, you may have read that of the many initiatives, which some perceive as threats, coming from supra-national bodies like the United Nations, G7, the OECD, and the EU. We will be looking at each of these in subsequent issues. On the other hand, we are often approached – or even recommended by some of our contacts & correspondents - to participate in what can be best described as "too good to be true" schemes (or scams). So, as we come across them, we’ll report on them, naming the players and the scammers, and the sources of our information. A New What? We hope that you survived in body and spirit the transition from 1999 to 2000. Most people in Anguilla celebrated in the traditional way, going to midnight church services or to parties; therefore some awoke with "millennium" hangovers and some did not. Like the rest of the world, we breathed a big sigh of relief when, amid the rockets, flares and fireworks we noticed that the street-lights stayed on as we slipped over the abyss. So no problems there – ditto telecomms, airport, water, hospital and nuclear arsenal (oops! There goes the State Secret!).Celebrations aside, our foot is in the camp which says that the recent festivities did not mark the Millennium (that’s at the end of 2000, so better go and buy more champagne). None of the dire predictions of computer meltdown causing ATM machines to explode and old ladies to become trapped in elevators appear to have occurred and the world is left wondering if the expense of the Y2K precautions were really worthwhile! The biggest beneficiaries were probably the computer genii whose lack of foresight was responsible for the problem in the first place and who then hit the jackpot putting it right. Which all goes to show the value of planning ahead correctly – a value which can be accurately described as being paramount to the success of "going offshore". Forward financial planning is essential if you are going to make your leap offshore both rewarding and legal. This will be a theme of our newsletters which will touch on issues such as security, privacy and substantial tax-savings within a framework that is perfectly legal and acceptable to the taxman (who cannot be ignored). Remember: there really is no free lunch – but there are legal ways to make lunch more satisfying; it is up to you to make sure that your proposals and intentions have been vetted by a competent tax professional familiar with the fiscal laws of your territory. Anguilla News An excellent source of current news on Anguilla can be found at Bob Green’s site, http://news.ai and the current issue covers the period over the last few days of 1999 and the beginning of 2000, including end of year parties, new hotels opening, and post-Lenny reconstruction. Needless to say, we had the traditional dearth of snow! There is also a new restaurant guide, at http://menus.ai for those who wish to see what they are missing. Some restaurants cater for take-outs; so epicurean meals by FedEx can’t be far away! One or Two Points Sometimes we are asked by prospective clients to perform functions beyond our ability or inclination! Although we would have thought that these points were self-evident they may be worth re-iterating.
Dubious Investment Offering – The Return of "The Global Gypsy" Here is more on the dubious investment offering which sparked this newsletter and, although we received the correspondence referred to below, additional background comments are from Roy Bouchier who has past experience of the individual concerned and has subsequently commented on some of the quirks thrown up in our correspondence. "If at first you don’t succeed……….This must be the motto of Mr. (sorry, Dr.) Keem Kalfon, self-styled global gypsy and mastermind behind the now defunct Networktool operation that succeeded in parting a good many citizens from their hard earned cash. We are indebted to Mr. Graham Crabtree of C.E.G. Ltd., Company Formation and Management Services in Anguilla who has received the following outstanding offer from the good Doctor. Global Heritage Asset Protection Ltd PO Box CB 13352 - Nassau Bahamas
We last saw Dr. Kalfon at the Shorex Exhibition in London when he arrived in a new Bentley. Presumably the payments are now due! His exact location seems a bit hazy with a mailbox in The Bahamas and a phone # in Zurich. We’ll be checking – meanwhile we suggest you restrain yourself from taking him up on his offer."General observation – there are plenty of people out there ready to part fools from their money, and the use of e-mail and web-sites has been a boon for them. Update, Please Please let us have any change in your address, phone, fax or E-Mail so that we may update our records.Public Holidays in Anguilla for 2000 Since the holidays we celebrate in Anguilla differ a bit from those elsewhere it's as well to check before setting sail lest you find that, on arrival, things are shut up tighter than a clam! Don't expect to find anybody home if you show up on:-
* Carnival/Anguilla Summer Festival Week. Banks and stores are closed on holidays. If in doubt - call us. Another One To Watch - The Kingdom of Enenkio Again the source and text are lifted from Roy Bouchier/I.T.I."Apropos the above, Jay Adkisson of First American Legal Corporation has received an E-Mail from Mr. Robert Moore, Minister Plenipotentiary, Kingdom of EnenKio Foreign Trade Mission protesting that he should prove that he is not an agent of the US government in view of his criticism of the claim of Enenkio to be an independent sovereign state. Personally we agree with Jay that their claim is spurious but more importantly would hesitate to do business with a nation whose Minister Plenipotentiary has such a shaky command of the English language!
Jay’s response is below:
We will be highlighting more of the same over the next few issues and will be giving a few tips and pointers. As a general observation, nobody in their right mind should consider sending a cent to these sort of people, however tempting the returns seem to be and however secure they claim your capital is. Usually, it isn't! Finally We’re going to be taking down our web-site over the course of the next few weeks and updating it/making it easier to read. Till next time…… Graham
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