People use their cars every day and should be alert to detect the slightest hint of trouble from the car. It is up to each owner of the car to have basic knowledge of inspection and repair of cars. Owner does not need to check or repair. A mechanic should be able to do all these things for the owner of the car. The engineer will also be very useful when buying a car or vehicle where the owner does not know how to check used car.

When the car owner is not reliable at all mechanical, you can easily choose the car inspection service available in the area. Most of these companies have a website where potential customers can obtain a wealth of information verification process, services, its significance, and other relevant information.

One of the most trusted vehicle inspection today of the Alliance Inspection Management (AiM). Provide inspection services for buyers of cars to consumers and vendors to provide an accurate assessment and verification of the status of a vehicle.

Backed by a group of experts and professionals, the goal is the industry leader in the U. S. and Canada, provides high quality vehicles, inspection services. To keep up with customer needs, the company uses a revolutionary technology and Internet use efficiency and delivery of unparalleled customer satisfaction.

Evaluation requires the control of the vehicle exterior, departments, and between the parties. Test Drive has been given the opportunity, worth more control issued by the inspector, the owner or his agent.

AIM is able to provide the inspection of vehicles that can be used as electronic matching vehicle itself. Ideal for buyers and sellers, because they simply have to see the engine’s electronic vehicle inspection reports and photos of the car or truck. The company meets all safety inspections for the car, which makes a reliable appraisal company.


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As the flow of wealth from many nations of tax advantaged, “offshore,” jurisdictions continues the need for and profitability of offshore banking services increases virtually day by day. The problem in this picture is that as the demand for offshore banking services has increased the ease of setting an offshore bank has become more difficult throughout most of the “offshore” world. A jurisdiction that has not suffered many of the problems that inhibit other offshore jurisdictions is New Zealand. A New Zealand Offshore Financial Company (NZOFC) provides an excellent opportunity to provide offshore banking services and avoid a number of problems that plague other offshore banking jurisdictions.

 

The Problem Elsewhere

 

For those interested in setting up an offshore banking presence in most, but not all, jurisdictions the bad news is primarily related to the United States Patriot Act enacted after the destruction of the World Trade Center twin towers. An offshore bank is typically not allowed to do business with residents of the jurisdiction in which it is licensed but its license allows it to do business throughout the world. To do so the bank will need correspondent banks in other countries. Banks throughout the world that do business with banks in the USA typically need to satisfy certain criteria based on the Patriot Act.

 

Since many banks are not willing to jeopardize their existing correspondent banking relationships are often not new to offshore banks. Sometimes there are indeed problems with the jurisdiction or a bank, and sometimes the bank does not just want to take the risk of U.S. authorities branded products.

 

Because of this situation some jurisdictions no longer offer offshore banking licenses. Some still do but the problem of getting correspondent banks remains so that it has become very difficult to actually do any banking even if an individual or corporation has obtained a license and set up an offshore banking business.

 

The Opportunity in New Zealand

 

New Zealand Offshore Finance Company (NZOFC), also known as the New Zealand Offshore Financial Institution (NZOFI) may impose a range of financial services may not be granted to the bank. Because there are no capital requirements for such an undertaking may be entered into NZOFC low cost.

 

Correspondent, Shell Banks and other problems

 

A correspondent account is an account established by a domestic banking institution. It receives deposits from and makes payments on behalf of a foreign financial institution. A correspondent account allows foreign banks to conduct business and provide services to their clients without the expense of a physical presence in that country. Typically the larger bank provides deposit and lending services allowing the smaller, usually offshore, bank to experience a lower cost of operation.

 

Patriotic Act restrictions prohibit banks from doing business with offshore banks that have no affiliate in the USA. This fact and a number of other restrictions make setting up and running an offshore bank very difficult in this day and age.

 

NZOFC, especially in the New Zealand director, usually have no problem establishing a working relationship bank registered in New Zealand.

 

The NZOFC Alternative

 

Because of the difficulty in obtaining a banking license and the difficulty, if a license is obtained, of finding a correspondent bank willing to deal with the paperwork many have found a better solution, the NZOFC

 

A NZOFC or New Zealand Offshore Financial Corporation is not a bank. A NZOFC will not do business with residents of New Zealand which is typical of offshore companies. However, such a company can do business with persons and corporations from throughout the world.

 

Establishing a relationship with the Bank of New Zealand is NZOFC operate internationally.

 

A NZOFC has no capital requirements. It can take deposits, lend money, offer wire transfer services, and issue credit and debit cards. A NZOFC can provide payment processing services, manage funds, market investments, and deal in a variety of other financial instruments and guarantees.

 

New Zealand

 

New Zealand is a good and safe place to do business and to do business from. The country is developed, safe, democratic, and pro business.

 

New Zealand is an island nation (two islands) east of Australia in the Southern Hemisphere. New Zealand is part of the British Commonwealth. This business friendly nation has always had a democratic government. It is politically stable and functions strictly under the rule of law. This is not a place where the laws change overnight to the detriment of investors.

 

New Zealand law provides for banking type services to be offered by a number of business entities including finance companies, building societies, credit unions as well as capitalized and registered banks. A finance company is unique in that it is not subject to capital requirements and is not supervised by the governing authority for banks, the Reserve Bank of New Zealand. Nevertheless a finance company can offer banking services throughout the world, restricted only in that in cannot offer services to residents of New Zealand.

 

New Zealand has a well respected banking system with both Registered Banks and offshore institutions. New Zealand is not on anyone’s blacklist for suspected money laundering, etc. Organizations such as the Organization for Economic Cooperation and Development, OECD, do not list New Zealand as a tax haven. In fact New Zealand is a member of OECD as well as the World Trade Organization.

 

English is the primary language of New Zealand which was a crown colony and is a member of the British Commonwealth of Nations. The majority of law pertaining to financial institutions is based upon English banking law. New Zealand is not a European Union member and not obliged to follow the EU Savings Tax Directive.

 

New Zealand is a modern country with first world infrastructure including roads, air transport, telephone, internet, and health services. With broad band internet New Zealand offers no internet related impediments to doing banking business by internet throughout the world. The economy is strong and stable and its professional community functions of a level of competence consistent with the best in the world. Any issues a NZOFC may come up against will be handled professionally and competently with the highest prospects of favorable resolution.

 

A NZOFC

 

Besides operating under English banking law New Zealand encourages local investment by offshore entities to provide world wide banking services from this island nation. In order to facilitate the set up of financial companies in New Zealand the country has streamlines is rules and regulations to make the application process and running the actual business “use friendly. ” The lack of unduly harsh and cumbersome regulations makes setting up a NZOFC efficient and lends toward profitability of an ongoing operation. New Zealand is a good place to do business.

 

It is possible to set up a NZOFC and offer identical services to those which a bank would offer. However, the cost of operation of a NZOFC will be substantially less than that of a regular bank in New Zealand starting with the fact that the operation will be subject to no capital requirements. A NZOFC can offer online banking services to clients all over the world. In keeping with its policy of attracting business to New Zealand’s shores such a company will have low initial costs and low operating costs compared to a registered bank.

 

An addition capability of a NZOFC is that it can act as a hedge fund with the attendant possibility of substantial profit. It is also possible with professionally designed financial/banking software to run a NZOFC with minimal personnel thus keeping costs to a minimum too. There are very few limitations to who can operate a NZOFC. NZOFC services are essentially bank services but the company cannot call itself a bank or use the word “bank” in it name. It is possible to obtain private label debit and credit card support also.

 

A NZOFC will have a director and at least one shareholder. These individuals or corporations can be of any nationality.

 

Although the paperwork is not extensive and is in English it is best to obtain competent counsel in setting up a NZOFC. A competent advisor will form and register the NZOFC and can maintain the legal aspects of the company. In setting up such an entity it is important to understand those with the knowledge to set things up and that they understand you. In setting up a NZOFC the principals need to have a clear idea of what services they wish to offer and make sure that those services are included in the beginning an ongoing business plan. Knowing tax consequences of the business, for example, will be something that you will want to know up front.

 

Clear Rules and Regulations under the Rule of Law

 

As a former British Crown colony and member of the British Commonwealth of Nations New Zealand is a country steeped in legal tradition and law. New Zealand laws pertaining to a NZOFC are based on English banking law, are clear, and reasonably straightforward. As we have noted a NZOFC is not a bank and is not subject to supervision or regulation by the central banking authorities in New Zealand. However, various facets of what a NZOFC does are covered in a number of laws in New Zealand. What this means is that the investor who sets up a New Zealand Offshore Financial Company can be assured that there will be surprise rulings or changes in regulations.

 

Law pertaining to NZOFC’s are spelled out in a number of statutes going back as far as 1908 with the Bills of Exchange Act, and progressing over the years with the 1952Property Law Act, the Cheques Act of 1960, the 1969 Unclaimed Money Act, the 1971 Stamp and Cheque Duties Act, the Securities Act of 1978, the Fair Trading Act of 1986, the 1989 Reserve Bank of New Zealand Act, the Proceeds of Crime Act of 1991, the Companies Act and Consumer Guarantees Act of 1993, the Financial Transactions Reporting Act and Investment Advisers (Disclosure) Act of 1996, the 1999 Personal Property Securities Act, the Electronic Transactions Act of 2002, and the 2003 Credit Contracts and Consumer Financial Act.

 

This is not a list that the investor needs to memorize. Certainly none of these acts was written specifically for NZOFC’s. This list is simply meant to demonstrate that the NZOFC is well founded in various statues of New Zealand law. The rules and regulations NZOFC are embedded in the fabric of New Zealand law making it a safe as well as potentially lucrative offshore business setup.

 

Running the New Zealand Offshore Financial Company

 

The principal or principals setting up a NZOFC will want to have a degree of knowledge and expertise in various financial matters relating to the services the company will offer. However, the principles need not expect to be expert in every aspect of setting up such an organization from day one. That is what competent counsel and technical experts are for. With the right people an individual or corporation setting up a NZOFC can expect expert assistance with general organization of the company, setting up a bank account in New Zealand or elsewhere, setting up the ability to provide wire services, and all aspects of the application process. With competent assistance the company can efficiently obtain the appropriate documentation and licensing necessary to operate as a bank in all but name.

 

Much of the work done by a NZOFC will be facilitated by a relationship or relationships with registered banks in New Zealand or elsewhere. These relationships are typically in place already through the advisor and counsel who will help set up the organization. The use of at least one New Zealand resident as a company director will often ease the way in dealing efficiently and quickly with set up and management issues as relate to banking relationships.

 

Efficient and competent follow-up Setup

 

The proper advisor in the process of setting up a NZOFC will typically have practical suggestions in place for online banking software as well as skilled personnel to help set up and maintain a web presence to attract sit visitors and convert them into customers.

 

It will typically take four weeks from first contact with your advisor to having all applications and documents done, software programmed, and the business ready to operate.

 

A NZOFC will need a minimum of one director and one shareholder. It will need to supply one annual audited report of operations and will need to have a local registered office and agent in New Zealand. Yearly fees will run around $5,000 and profits are taxed at a New Zealand corporate rate of 33%. There is an “Approved Issuer Levy” on interest paid to clients of 2%.

 

As with all businesses thoughtful and careful planning in the beginning will reap rewards and avoid problems in the long run. It is, for example, possible to defer taxes on a NZOFC with the use of the right offshore corporate structure. This is a matter to discuss early with competent counsel. In general, there are many benefits to working, banking, and doing business offshore. It is possible to enhance privacy of business operations by having the NZOFC owned by a trust. To take perfectly legal advantage of such possibilities one need only ask.

 

A Few Details

 

Although it will typically take four weeks to set up a functioning business a company name can be reserved and the company legally formed in a day or so. The longer time frame has to do with filing required paperwork and original documents. For someone in a great hurry there are typically “pre-formed” or “off the shelf” companies where the paperwork has already been done. Nevertheless the individual or corporation setting up a NZOFC will still need to make a number of business decisions and still need to purchase software, establish a web presence, etc. so even an off the shelf company will not really be ready to operate the day it is purchased.

 

Although a NZOFC must have one director and one shareholder it may have more. These individuals, or corporations, may have any nationality. Use of a corporation or foundation registered in Belize or Panama is a common tactic used to legally limit tax liability. By wisely joining two offshore entities from two jurisdictions it may be possible to use one as the lender and payment processor for the other. Such legal strategies as using the NZOFC as an approved issuer can be used to reduce or defer tax obligations.

 

Although there may well be ways and means to substantially reduce all tax obligations they may become cumbersome and could result in making the business hard to run. Thus the use of wise counsel in setting up the operation will optimize the final result in working out of this business friendly and prosperous offshore jurisdiction.

 

Although there is no director of the company’s commitment to New Zealand is the practical reality is that things are set up as simple as running a bank, but with New Zealand filmirežiss & # xF6 Or just as easily could be the time and cost of travel to Europe or North America, calls for a foreign director to make the same simple U lesanne. It is possible, residence, bank account name to open his NZOFC but it can also be something that a person is employed in another country simply do not have time to do so.

 

As the issue of money laundering for terrorism and drug trafficking continues banks will occasionally request information from a NZOFC regarding transactions. This is another matter where having a New Zealand director helps immensely. Up and running NZOFC’s, with at least one New Zealand director, report no problems in this matter because of the ease of communication and trust level involved.

 

Although the company shareholders and directors NZOFC least one director must be a real person. For tax reasons, it makes no difference how many shareholders rather than in New Zealand.

 

The difference in having a foreign business entity as a shareholder is that audited annual reports submitted to the New Zealand Companies office will be posted on the internet only for foreign companies.

 

When using an “off the shelf” offshore financial company with local “nominee” directors and shareholders the actual directors and shareholders will be added to the roles as they finalize paperwork. What the transfer of operations to the final set of directors and shareholders should take place before applying for a New Zealand bank account. This tactic is commonly used to provide a degree of privacy and asset protection to company beneficiaries. Another tactic, discussed later on, is the use of an offshore trust.

 

Annual audited reports are necessary when over 25% of the shareholders are foreign residents. Currently such reports by small companies are not required to be submitted to the New Zealand Companies Office registrar.

 

A “large” company with annual New Zealand Dollar turnover of over $20 million, assets of $20 million, or a staff of over fifty persons, will need to file annual audited reports with the Companies Office registrar.

 

New Zealand banks will provide credit cards for the NZOFC which typically access NZD accounts. These are both VISA and MasterCard. Offshore banking operations offering credit and debit cards are often easier to deal with and are readily available.

Continued in a New Zealand Offshore Financial Company Part II


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Company Study of China Ocean Shipping Group (COSCO), 2009China Ocean Shipping (Group) Company (COSCO) is China’s largest shipping corporation which is specialized in container shipping, dry bulk cargo shipping, logistics, dock operation and contain leasing service. In particular, its shipping volume of both containers and dry bulk cargo ranks No. 1 in China. ( http://www. bharatbook. com/detail. asp?id=129787&rt=Company-Study-of-China-Ocean-Shipping-Group-COSCO2009. html )COSCO achieved the operating revenue of RMB22. 85 billion in the first half year of 2009, wherein, the shipping of containers & related business and dry bulk cargo accounted for 39. 82% and 46. 58% respectively, but the prime operating business of the both were in loss, particularly contain shipping with gross profit margin of -35. 3%, the main source of company’s losses. COSCO made a net loss of RMB690. 7 million in the quarter ended Sept. 30, cutting its quarterly deficit by nearly half from RMB1. 27 billion in the second quarter. As of Sep. 30, 2009, COSCO operates a fleet of 146 container ships with a total capacity of 549,639 TEU. At the same time, the company holds 57 container ship orders (shipbuilding and leasing) totaling 430,226 TEU. Till Aug. , 2009, COSCO ranked the seventh by shipping capacity in the world. It is expected that the shipping capacity of COSCO will be up to the fourth around the globe once its made-to-order ships get delivered completely.

To know more and to buy a copy of your report feel free to visit : http://www. bharatbook. com/detail. asp?id=129787&rt=Company-Study-of-China-Ocean-Shipping-Group-COSCO2009. html  OrContact us at :Bharat Book BureauTel: +91 22 27578668Fax: +91 22 27579131Email: info@bharatbook. com Website: www. bharatbook. com Blog: http://bharatbookresearch. blogspot. com Follow us on twitter: http://twitter. com/3bbharatbook 


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