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ARTICLE · 01 APRIL 2005

Offshore Pilot Quarterly - Commentary on Matters Offshore

Trust Services, S.A.
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Privacy advocates are drawn to the remaining offshore financial services centres which still offer confidentiality. Those pockets of privacy are a magnet to them, just as Europeans in winter travel in search of tropical sunshine and some find it in Florida. Miami, besides its weather, has many financial services companies some of which are servicing the needs of those who have been victims of economic disruptions in Latin America.

PanamaWealth Management

By Derek Sambrook, Managing Director, FIBSA,TEP,

Originally published March, 2005

Grave New World

Anton Chekhov said that every person lives his real, most interesting life under the cover of secrecy. One United States financial services company in Miami, Florida, has taken the Russian dramatist and writer seriously and built a conference room next to its elevators so that clients run less risk of being seen by the general office staff. I must say that my office in Miami had no such facility for our financial services clients, but I can understand its appeal in today’s regulatory climate when those who place such a high value on privacy see it melting away just like icebergs are, according to global warming campaigners.

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