Have you relaxed and stopped protecting assets?

The ruble won back half of the fall from the end of July and strengthened against the dollar. Even the introduction of a new block of sanctions could not deploy the recovery of the Russian currency. Is the danger behind and nothing more needs to be done to protect your assets? No, the opposite! It’s time to act while the situation is at least partly on the side of ordinary citizens.

ruble strengthens position

Since September 11, the Russian ruble has strengthened its position after falling in August. By September 24, it was possible to win back half of the fall from the end of July. What is the reason?

Experts believe that this is due to the end of August, always the most stagnant month with a lack of liquidity. Also, by the middle of September, sales of liquid Russian assets by foreigners were over, and they were getting rid of, in their opinion, dangerous assets against the background of tougher sanctions.

Capital Outflow: Foreign investors sell OFZ worth billions of rubles

The Bank of Russia also raised the key rate to 7.5% and extended the moratorium on the purchase of foreign currency on the open market until the end of 2018.

Last week, the United States introduced a new package of sanctions and included in the sanctions list 27 individuals and 6 companies from the military-industrial complex and intelligent. The growth of the ruble has slowed but continued on the same day.

Given that in early August, the ruble collapsed only because of rumors about the introduction of new sanctions, this behavior of the national currency is surprising. Either the local pressure limit has been reached and the new sanctions no longer have an effect, or the ruble rests on quite solid foundations and is able to survive for some time on the current exchange rate without additional shocks.

Is this good news? Of course, because the population of the country will retain its wealth at least at some level. Prices are already rising, and the fall of the ruble puts even more pressure on people.

However, this does not mean that it is time to relax. The economy of Russia and the whole world is in constant motion. A lull always happens before the storm. Instead of resting, it’s time to pre-tension and provide additional protection for your assets. So far, the new wave of crisis, the fall of the ruble or sanctions have not squeezed out any value from your Russian assets.

Protecting assets during a lull: time to act

Despite the pleasant impression that the growing ruble makes, the situation remains extremely tense. US sanctions against Russia continue to strengthen. The Central Bank cleans the banking sector and wallows in bureaucracy. Scammers from private banks continue to rob clients. Authorities raise taxes and retirement age.

Predictability is not, and assets are melting under the pressure of circumstances. What to do?

Do not sit back and learn the truth about asset protection!

How to do it? The first step is to assess what is at the moment: in what form are the assets, where are they stored? If you have a large amount in rubles only – this is bad. If your assets are only an apartment in Moscow – not very reliable.

Therefore, it is necessary to diversify risks and decompose assets into different baskets: not only rules but also currency; not only real estate but also currency, gold, securities.

After we evaluate where the assets are stored. If they are all located on the territory of one country, then there is a danger of losing everything at once. Take into account the experience of predecessors 100 years ago. They kept assets only in Russia, but when the disaster happened, the billions did not save them.

When you realize that some of the assets should be taken abroad, you need to understand what and where exactly to withdraw. The most mobile asset is cash. They can really be transferred to almost any part of the world, be in Europe, the USA, Asia or Africa. Depends on your goals, plans, and reliability of the selected bank.

How to choose a reliable bank? Sign up for a free consultation with the experts of the Natty Bumppo portal. It will tell you which way you should go. You can open an account in person or remotely in Switzerland, Germany, USA, Serbia and many other countries.

As you know, there are difficulties with opening accounts for CIS residents. The reason for this is a lack of trust and excessive demands from the inspecting departments of the bank. Thanks to our experience and reputation, the chance to open an account increases several times. At the same time, we suggest you not to wait for a response from one single bank, but to submit an application for opening an account to several banks at once using the pre-approval service. A bank or several banks will give prior consent to work with you and only after that you will proceed directly to opening an account with much higher chances of success.

If you have assets that are difficult to withdraw abroad, such as real estate or business, you can provide additional protection for the ownership of such property. For this, a foreign company is registered, which becomes the owner of the asset. An asset can be not only real estate or another business but also intellectual property, stocks, bonds. Not to mention that a foreign company has the right to conduct its own business activities anywhere in the world.

We help register companies around the globe and do it legally. This means that your foreign company will not be a “stale commodity”, someone else’s a property with a burden and avoid other troubles and deception.

Now there is a lull and the ruble is growing. How long will it last? No one will answer. However, those who intend to protect and increase their capital, do not sit still. They use the services of professionals who help ensure the safety of the property and the privacy of their clients.

Wealthy Ukrainians urgently need to protect their assets: e-declarations, confiscation of property and a ban on electronic money

It is time for wealthy Ukrainians to think about protecting their assets and themselves.

Electronic declaration of income of civil servants-the new Maidan?

At the end of October, the first stage of the declaration of income of civil servants ended. The reaction of the population, frankly, unequivocal and negative. Some experts, such as the director of the sociological service Viktor Nebozhenko, compare the possible consequences with the New Maidan.

According to the declarations, officials have big assets. Even if not huge. But this is not a discovery for the majority, although it caused a wave of anger and disappointment. Most experts and ordinary citizens are sure that not all were indicated in the e-declarations. And most remained hidden behind offshore companies, chuckles, and silly jokes.

Poroshenko, the NBU and the Panama papers: what did the Panamanian scandal reveal about Ukrainian officials?

But while ordinary people argue whether there will be any consequences for the officials in the form of taxes and penalties, or whether everything will usually remain at their own, Nebozhenko notes another point.

Hide it hid, but forgot where they entered. If Ukraine remained a part of the USSR or even a full-fledged and recognized member of the “friendship with Russia”, then the chance to “swallow” everything would be. But Ukraine aspires to the West, to the enlightened world of wealth and democratic freedom.

And there, by the way, transparency and tax services with expanded powers now prevail.

Deoffshorization in Ukraine 2016

Almost all Ukrainian politicians have forgotten that in the spring of 2016 there were Panamanian papers, and before that – other offshore scandals. They did not take into account the existing agreements on the exchange of information and the upcoming automatic exchange of bank data.

The specialist predicts that Western economic intelligence services will put together information from declarations, from their registers and the data that came out of offshore companies and find out who hid it. What does it mean? One of two things: either pleasant incomes for the foreign treasury due to the lack of evidence of legal origin, or the manipulation of specific politicians in order to preserve those or other incomes.

After all, Ukraine is not yet fully sold out, right? There is still something to profit.

Buy offshore Dominica from Ukraine

How does this threaten an ordinary wealthy person who seeks to conduct his business quietly and even legally? First, such declarations can reach ordinary citizens, regardless of the level of their condition. And then you have to prove the legality of the origin of its assets.

Secondly, the hatred of the poor, starving and just crushed people is directed not only against the government as such but against all holders of capital. If you can afford to live as you like, no one will assess the legality of your income, to justify you. At best, they will just hate you. At worst, they will try to harm you or your family.

Therefore, it is necessary to take measures: to open foreign bank accounts for legal assets, so that neither the Ukrainian treasury, nor the foreign tax services, nor ordinary citizens could put a hand in your property. And also help will be getting a second passport – for the freedom of traveling around the world and security if someone decides to track the Ukrainians.

The most simple second citizenship for Ukrainians in the Caribbean, and not in Belarus

It is important to choose the right place for future deployment. Total transparency and legality of income is a fixed idea for the whole world. Including for a popular destination among wealthy migrants – London.

The UK plans to confiscate property purchased with unexplained funds

We have already written that both sheiks and oligarchs should be wary of a new bill in the UK. He has already passed the second reading and is committed to the final. It does not matter, the Russian oligarch in London, or Ukrainian. If a property, car or painting costs more than £ 100,000 and the origin of the funds is suspicious, the court will have the right to freeze the asset or even confiscate it.

For a court order, “reasonable suspicion” will suffice. Given the previous point, about the declarations of officials and possible inconsistencies with reality, a wave of frost and seizures can start very quickly. And this is only among Ukrainian officials.

Previously, such an action required a court sentence in England or in the country of the accused. Now only “reasonable suspicions.” Of course, not only Ukrainians own property in London illegally – the capital of the Kingdom is recognized as the most popular place to launder illegal money. Up to 100 billion pounds per year are pumped and laundered in London.

Who will be the new financial center instead of London: the unusual consequences of Brexit

According to the research of The Guardian, only in the City and Westminster 10% of real estate owned by offshore companies. In some cases, it is legal and reasonable, but in some, it is a way to hide the truth, not too clean owner. Unfortunately, this greatly spoils the reputation of offshore companies. So any offshore property owner may well be the very “reasonable suspicion” for verification and arrest. And then prove that you are not a camel and you are fine.

Some of the “guardians” will say that they say, “Let them take away,” will return home more. However, this is not the case: property is taken away in favor of the state treasury of Great Britain. So even illegally withdrawn funds will not return to their homeland.

European Council enhances tax transparency and plans to introduce identification of beneficiaries

What to do to those who bought an apartment in London, but does not want to lose it? Take care of documentary evidence of the legality of the origin of funds spent on the acquisition of specific real estate, and the legality of the origin of all capital. And although the bill has not yet been adopted, the chance and temptation are too great. In addition, experts almost unanimously say that other countries will cross over this initiative, at least in Europe. And confiscations will begin not only on Bond and Baker Street but also on the shores of Lake Geneva and the Adriatic Sea.

Unless, of course, you prove the legal origin of the funds (along with the payment of taxes).

It is reasonable to create a foreign bank account in a bank that you trust and that you can explain the origin of certain amounts. This will facilitate all subsequent steps.

Why do we pay so much attention to a foreign bank account? Because the opportunities to conduct business adequately outside Ukraine may not remain.

The National Bank of Ukraine has banned Webmoney, Qiwi and Yandex. Money

According to Ukrainian media reports, local banks received a letter stating that the use of the electronic money systems Webmoney, Qiwi and Yandex. Money was banned. According to the Central Bank, these systems did not coordinate the provision of their services with the regulator.

In fact, there remained only WebMoney.UA, which agreed on regulation.

The problem with this letter is that we are talking about a ban, both for the service representatives themselves and for the users. Officially, the punishment for users is not specified, but lawyers believe that with the authority and requirements of the NBU, including blocking of accounts is possible.

Should I declare an offshore to residents of Ukraine?

But these systems are actively used for business payments, both by companies and employees. Especially if the employer or customer is located just in Russia. The economy of Ukraine is already far from perfect but also blocked for many the channel of receiving funds for existence.

This channel was cheaper for wealthy individuals for many small transactions and for hiring foreign specialists. Now, only foreign bank accounts will become a convenient alternative, so that the commissions are lower and the speed of sending/receiving money is higher.

But this short list is only a small proportion of prohibited systems. Also banned, but earlier, were the systems “Hummingbird”, “Blizko”, “Anelik”, the Golden Crown, “Leader” and “Unistream.”

How to act wealthy Ukrainians to urgently protect the assets and themselves?

For a wealthy Ukrainian, the dangers can be divided into two groups: those that emanate from the territory of Ukraine and international risks.

How to immigrate to Germany from Ukraine?

The first group is easiest to level by creating foreign bank accounts. They will not allow the confiscation of assets to the authorities or the hijackers. But at the same time, it is still necessary to prove to a foreign bank as transparently as possible that your money has a legal origin. This is a modern trend and a frank fad at each bank – otherwise sanctions. And it is also the second international problem, which is solved only by documentary evidence and accurate behavior.

Legal and quick citizenship of Comoros – this is what the cheapest second passport looks like for investments

To help there will be second passports. This is a legal document of a neutral state in which you are recognized as a citizen, have the right to live, open accounts and travel, for example, to the same European countries without a visa. In contrast to the Ukrainian passport, which is not in a hurry to take in the “friendly Schengen family.”

How to get a second passport? You can use any program of naturalization, but it is a long time – from 3 to 20 years. This time may simply not be. Therefore, it is wise to use the second citizenship program for investments.

There are several countries that are legally ready to give you a second passport for adequate investments in the country’s economy. Most often we are talking about such countries as Saint Kitts and Nevis, Dominica (the cheapest passport program for investments), Grenada (the fastest program so far), Cyprus and Malta. New players such as St. Lucia are gradually being added to them.

In the period from 3 to 12 months, you will receive a second passport from a respected country and provide yourself and your family with a new level of comfort and security. Yes, a family in such programs can get passports along with the main applicant!