Petro Funds is an executive level financial and management consulting firm that provides support to corporations, financial institutions and high net worth individuals A GLOBAL FINANCIAL POWER-HOUSE
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For Only US$9,500 |
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Where Is Gibraltar?
Gibraltar is a small peninsula located on the southern coast of Spain. It covers a total area of 6.5sq km and its coastline stretches for 12km only; there is a 1.2 km borderline with Spain. The Strait of Gibraltar links the Mediterranean Sea and the North Atlantic Ocean. Gibraltar enjoys a mild Mediterranean climate. Its highest point is the rock of Gibraltar which reaches 426m and is surrounded by narrow coastal lowland. The supply of fresh water is limited and there is no agriculture. The existence of the actual Rock of Gibraltar is first recorded by the Romans, who named it Calpe. It was the belief of ancient writers that the Pillars of Hercules were situated in the Strait of Gibraltar and after they perished, the two mountains, Calpe and Abyla (the later being situated opposite Gibraltar on the African shore), retained the names. | Rock Solid Jurisdiction 
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Why Gibraltar?
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Banking regulation is exercised under the Banking Ordinance 1992 by the Banking Commissioner (who is also the Financial Services Commissioner). Day-to-day supervision is carried out by the Banking Supervisor (on secondment from the Bank of England). The Ordinance protects banking secrecy and confidentiality.
Banks with licenses issued by other EU jurisdictions have only to notify the Gibraltar authorities before commencing business there; banks which require Gibraltarian authorization and licenses must conform to criteria set out below. Licensed banks must maintain a solvency ratio of 10%. There is an annual fee of GŁ5,000 payable to the Financial Services Commission. Banks providing local services are taxable on their profits in the same way as ordinary companies (see Domestic Corporate Taxation); banks working 'offshore' can apply for a 'qualifying' certificate (see Offshore Tax Regimes) allowing them to pay tax at a rate between nil and 35% as agreed with the authorities. Licensing and Supervision The Banking Ordinance 1992 (as amended) repealed the previous distinction between "A" onshore and "B" offshore licenses, and introduced a single banking license. Thus Gibraltar licensed banks can in theory take advantage of passporting opportunities and branch out across the EU and EEA without the need for further authorization (except for notification). Difficulties which remained with regard to EU recognition of local regulatory authorities will hopefully have been eased by the Anglo-Spanish agreement in April 2000 which unblocked the relevant EU legislation. The minimum capital required for the issue of a banking license in Gibraltar is Euros 5m, in line with EU requirements, and the supervisory regime follows EU and Basle Committee guidelines. In considering the issue of a banking license, the Commissioner applies a number of guidelines, including the following:
During 1997/98, supervisory procedures for banks were strengthened in several respects mainly in order to match United Kingdom standards by transposing all outstanding EC banking directives. These included the Post BCCI Directive to reinforce prudential supervision (95/26/EC) which was implemented for banks by the Financial Institutions (Prudential Supervision) Ordinance 1997 and the Banking (Auditors and Information) Ordinance 1997; and the Bank Accounts Directive (86/635/EEC), implementation of which was completed by the Banking (Accounts Directive) Regulations 1997. In March 1998, an Administrative Notice came into effect setting out how the Commissioner of Banking expects Gibraltar-incorporated licensed banks to comply with the requirements of the Capital Adequacy Directive (93/6/EC); and another Administrative Notice has been issued setting out how banks should meet the notification requirements of the Post BCCI Directive. This includes more comprehensive reporting forms and the introduction of a Reporting Accountants Regime. Under the latter, all licensed banks are required to obtain reports each year from an approved accountant, usually their auditor, on the adequacy of systems and controls and the accuracy of supervisory returns. These reports are then discussed with management and the banking supervisory staff. Confidentiality Within the general statutory duty of confidentiality, authorized institutions, and their controllers and subsidiaries, and institutions of which authorized institutions are controllers, are permitted to exchange between each other information about their customers necessary to facilitate supervision of institutions on a consolidated basis in accordance with Council Directive 83/350/EEC (as extended, where applicable, by the EEA agreement) or any successor thereto Summary Gibraltar is a full member of the European Union so similar requirements are imposed on banks incorporated in Gibraltar as those imposed for UK banks. However, Gibraltar has certain distinct advantages: banks can obtain exempt status and therefore operate completely free of tax. The costs of office space and staff are considerably lower in Gibraltar. There are currently no banking applications pending in Gibraltar so the time-scale between the application for and granting of a banking license can be considerably reduced. Note that the majority of the costs would be incurred in having to employ two executive directors/managers with the requisite experience and in installing the computers and systems which are appropriate for a banking institution. | Your Road To Success 
Your Own Bank
Gibraltar
Gibraltar
Gibraltar Casino
Gibraltar;
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Mailing, Fax, Telephone And Office Facilities:
As part of the domiciliary service fee we provide clients with a registered office address in the country of incorporation but clients may find it convenient to arrange for mail forwarding, fax and telephone facilities through our Switzerland, The Bahamas Islands, London or other Petro Funds world-wide offices. This service may be especially useful where, for example, the company is opening bank accounts. Normally the bank would address statements and other correspondence to the company at the address of the client but this results in a loss of confidentiality in that the connection between the company name and the client will be automatically made.
To safeguard against this mail can be directed to our offices and we can re-mail those letters in a plain envelope addressed to the client or otherwise as the client directs. An additional advantage of using our re-mailing services is that the provision of a re-mailing address through one of our prestigiously located offices in the onshore jurisdictions may allow the offshore company to appear to be domiciled on-shore and thereby give that company an added degree if respectability. For example, your offshore company could quote Petro Funds London office address on its letterhead and thereby appear to be domiciled in the UK. This procedure is particularly attractive if the Hong Kong address is used as a Hong Kong company is not required to quote its registered office address on its letterhead. Thus if an offshore company were to quote a Hong Kong address it would be indistinguishable from the letterhead, from a normal Hong Kong trading company.The charge for this service is only $275 per annum. Trust Services: Using a trust to own the shares of an offshore company can result in very substantial tax and non-tax related advantages which will accrue both on death and during the lifetime of the trust settler. These advantages may include: Saving Of Inheritance Tax: On death, the Inheritance tax which would normally be assessed on the value of shares would generally be eradicated. Asset Protection: Assets placed into trust are generally beyond the reach of creditors who might arise as a result of financial difficulties, divorce proceedings, litigation, etc. Avoidance Of Probate: A trust provides a means whereby assets can be smoothly passed on to the next generation without the disruption, delays substantial costs, loss of confidentiality associated with the probate procedure which necessarily follows when assets are bequeathed by will. Continuity: Trusts provide a means whereby assets can continue to be administered in accordance with the wishes of the settlor after his death so the weak can be protected from others and the spend-thrift can be protected from himself. Lifetime Tax Savings: During lifetime, substantial income and capital gains tax advantages may result from setting up the trust. Using the service of one of our licensed trust companies, we are pleased to act as trustee for a suitably drafted discretionary trust and the cost of this service would be from US$500 for setting up the trust deed and from US$500 per annum for the provision of trustee services. Other Services: Petro Funds provides a wide range of administrative and documentary services including, but not limited to legalization and notarizing of documents, credit cards, yacht and ship registration, invoicing, documentary trade services, trade finance applications, accounting, consulting and immigration services. VIP Package: For one payment of US$15,900 Petro Funds will provide the following:
| The Secure Jurisdiction 
Gibraltar; The Picturesque Jurisdiction
Your Own Bank;
Your Own Bank;
Your Own Bank;
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Confused?
The average person is frequently confused by the complexity of international tax planning and discouraged by the substantial costs involved in an offshore company formation or registering of a bank or trust in a tax haven. The registration costs and ongoing yearly administration expenses frequently exceed what the average person could save in taxes. Petro International has a new program to answer those concerns. We provide the simple, secure, private and low cost answer for the person who is just starting out or the veteran who now understands that simplicity is the essence of genius. Our survey has shown that this solution answers all of the needs for 100% of the persons seeking to go offshore. |
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The program includes bearer shares so that complete anonymity is guaranteed, documentation and support services so that you can open a financial account under your complete control, where and when you wish, and flexibility so that you can change your financial affairs to reflect your future needs.
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We trust that we have clarified the intriguing world of Gibraltar's Bank Formation Programs We will be happy to answer any questions you may have, relating to this opportunity and provide you with additional details regarding any of our devoted services.
If you would like to obtain further details of the legislation
surrounding the formation of YOUR OWN BANK IN GIBRALTAR or wish to discuss any matter in complete confidence, please
click here
to contact:
Mr. John Cooper
MBA
Vice President
Petro Funds
Offshore Services
| Please click here to explain us the full particulars of your situation and what you wish to accomplish. We will review your situation VERY CAREFULLY and offer to you a custom fitted solution. 95% of the time the solution will be simple to understand and 100% of the time it will be the least expensive alternative. |
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| Please feel free to contact Petro Funds if you believe the formation of a Gibraltar Bank at the present time may be appropriate in your particular situation. Any communication with us is considered PRIVILEGED and CONFIDENTIAL. |
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Petro Funds is in a position to assist new and established clients in opening personal and corporate offshore bank or trust accounts, denominated in almost every currency, in over 125 of offshore jurisdictions world-wide, including:
New Zealand, Australia, Chile, The Dominican Republic, Ireland, Argentina, Belize, Brazil, Spain, Italy, Costa Rica, Venezuela, Uruguay, Prague, Bodrum, The Spanish-Moroccan Tax Havens, The Madeira Tax Haven of Portugal, The Jamaican Free Trade Zones, The Dominican Republic Free Trade Zones, Campione D'Italia, Andorra, Poland, The Eastern Turkish Border and Tbilisi, Mozambique, Guatemala, The Virgin Islands, The Philippine Islands, and Anguilla are just some of the countries and places featured.
 | There is only one Petro Funds Our scope, financial strength, balance, depth of talent and integrity have made us our clients' trusted global advisor. |  |
Petro Funds 
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Your Own Bank;
