To Petro Funds Offshore Bank Formation Your Own Private Bank Jurisdiction: Commonwealth of Dominica Your Own Dominican Bank For Only US$6,500 There's a lot more to a successful bank portfolio than CAPITAL. You need resources, technological and marketing expertise, asset management abilities, loan administration - in a word, SERVICES. Petro Funds is the provider of such service

Why Commonwealth of Dominica? The Government of Dominica has embarked on a program to diversify the economy, expand the economic base, and generate employment. One aspect of this program is the development of a high quality international financial sector in Dominica. To ensure success, Government has put in place the administrative framework and is putting in place the necessary legislative framework for implementing, regulating and managing the services which will be offered. In an environment of political and economic stability, with a modern telecommunication network, flexibility of legislation and confidentiality, Dominica seeks to offer international investors the following offshore financial services:- Dominica's legislation is relatively new and well drafted. Service providers are regulated by a voluntary code of conduct. If you wish to form an offshore bank the cost of incorporation is the cheapest of all the jurisdictions. Shareholders are not recorded other than at the company's registered office and cannot be divulged by law to any authority of any jurisdiction. Company accounts (BANK) do not have to be filed. Should the need arise you can re-domicile your bank to or from Dominica. Tax is not payable by offshore investors for twenty years. Information cannot be divulged about you to foreign authorities. Foreign judgements are not enforceable within Dominica. The period within which a creditor must bring an action against an Asset Protection Trust is relatively short. Private Bank formation: Economic Citizenship Offshore Banking and Trust Corporate Domicile/International Business Company (IBC) Registration Captive Insurance Duty Free Zones International Ship Registration and other Shipping Activities Protection of Intellectual Property Rights Measures already put in place to facilitate provision of these services include: Implementation of the Re-Engineered Economic Citizenship Program in May 1996 Enactment of Offshore Banking Legislation in April 1996 Enactment of International Business Companies Act in June 1996 Enactment of International Exempt Trust Act in October 1997 Enactment of Exempt Insurance Act in December 1997

Dominica; Tax Haven In The Heaven Dominica So Far And So Close The Unspoiled Jurisdiction Dominica; A Paradise On The Earth

With these in place, Dominica is already quickly emerging into a premiere offshore financial center in the Caribbean, offering offshore investors a stable political and economic environment, tax and duty exemptions on all offshore operations, flexible and accommodating legislation, and an excellent communications system.

Private Offshore Banking

The Offshore Banking Act aims to develop Dominica as a reputable jurisdiction on the cutting edge in the provision of offshore banking services. In its provisions to achieve this objective, the act strikes a careful medium between the need for confidentiality and privacy, and the need to have enough information for conducting due diligence and other credibility checks on applicants, shareholders, and also to determine soundness of operation of the licensee.

THERE IS NO APPLICATION FEE TO BE PAID. On the grant of a license the annual license fee will apply, but on a pro rated basis in the year of incorporation based on the month in which the license is granted. Annual License Fee Offshore Banking License US$8,000 Onshore/Offshore Banking US$20,000 General Trust US$4,000 Restricted Trust US$100 An applicant may apply for an offshore and onshore license, but each would have to be operated and reported on separately. The minimum required paid up capital for an offshore bank is US$1,000,000 and for an onshore bank is EC$5,000,000.

Your Own Bank; Your Peace Of Mind

An interesting feature of the legislation is that it makes provisions for offshore banks licensed in Dominica to provide loan financing to local entrepreneurs for earmarked projects to be approved, in consultation with the Ministry of Finance, Industry and Planning.

Part X of the Act makes Dominica particularly competitive by granting the licensee exemption from ALL taxes and duties in respect of its offshore banking business in Dominica.

The Offshore Banking Act makes provision for licensees to engage in Trust business in Dominica.

Petro Funds can customize the above listed services, and many other services, to meet your specific international transaction and banking requirements. Assets can be denominated in any foreign currency, as well as U.S. dollars.

Currency Quotes?

Market insurance services Conduct trading in foreign currencies Offer credit reports Advertise worldwide Issue certificates of deposit Take deposits Issue your own major credit cards Set up your own banking instruments Issue your own bank references solicit funds from the general public Write your own credit ratings Write your own bank references Please click here for Commonwealth of Dominica map

Open Margin Accounts Give loans Issue guarantees Issue bonds Letters of credit Issue letters of recommendation etc. Financial instruments Offer leasing services Offer payment services Issue checks and credit cards Offer safe custody services Debt collecting services All For Only US$6,500

Directors: An international banking corporation must have at least one director and a director need not to be a natural person. Taxation: The banking corporation is exempted form the payment of all taxes for a period of fifty (50) years The income, profits, gains and other revenues and the funds and securities of an exempt corporation are exempt from exchange control regulations unless the exempt corporation is a resident. Confidentiality Under the legislation it is a criminal offense to disclose any information pertaining to the affairs or transaction of client of a bank. Disclosure of confidential information can only be made by a court order arising from an authorized investigation. An offshore bank is not subject to any reserve requirements as specified under the Banking Act which regulates the operation of local banks 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 International 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.

Dominica; The Bullet Proof Jurisdiction

For example, your offshore company could quote Petro Funds International 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.

Offshore; Your Road To Success

Other Services: Petro Funds International 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 US$15,900 Petro Funds International will provide the following: Preparation and filing of Your Banking License (Charter) with the Registrar of Companies to create and incorporate your Commonwealth of Dominica bank. Appointment and payment of a registered agent and registered office in The Commonwealth of Dominica for one year for your banking operation. Appointment and payment of two (2) Officers/Directors to serve as Nominees for the Bank for one year. Preparation of the initial Minutes, filing of the Notice of Registered Office, and issuance of Share Certificates. Opening of a corporate local bank account and stock brokerage account in The Commonwealth of Dominica . Visa And MasterCard application to issue your own Credit Cards. Application for a clearing bank and (3) correspondent banks (London, Zurich and Hong Kong). The bank will be formed within 4 to 6 weeks of receipt of the fee and a completed Confidential Client Information Form.

Dominica; The One And Only

Confused?

The average person is frequently confused by the complexity of international tax planning and discouraged by the substantial costs involved in a bank formation, registration of a company 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 Funds International Offshore Services 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.

The program includes bearer shares so that complete anonymity is guaranteed, documentation and support services so that you can open a bank under your complete control, where and when you wish, and flexibility so that you can change your financial affairs to reflect your future needs.

Other Jurisdictions?

We trust that we have clarified the intriguing world of bank formation in Commonwealth of Dominica. 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 a bank in Commonwealth of Dominica or wish to discuss any matter in complete confidence, please click here to contact:
Mr. Robert Haig
Petro International's Offshore Services

Please click here to inform us the full particulars of your situation and what you wish to accomplish. We will review your situation and offer to you a custom fitted solution. 95% of the time it will be simple to understand and 100% of the time it will be the least expensive alternative.

Please feel free to contact Petro International Group if you believe the formation of a bank in Commonwealth of Dominica may be appropriate in your particular situation. Any communication with us is considered PRIVILEGED and CONFIDENTIAL.

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