Corporate Offshore Banking Retains Innate Appeal Despite Swiss Debacle, Says Zetland Corporate Services Hong Kong

The recent drama at major Swiss bank UBS over the US-led push for information sharing has 'spooked' super-rich investors, according to some sources. However, corporate offshore banking experts Zetland Corporate Services say that the Swiss event has little impact on the value of offshore banking in general, which still has enormous savings potential. End Quote

(1888PressRelease) November 22, 2009 - Swiss bank UBS has faced some very trying times in recent months, being forced to reveal customer details by the US, and attempting to fix substantial exposure to toxic assets in the US banking industry.

Goldseek recently reported that the 'super rich are spooked', and that as much as 80% of the money in Swiss banks is undeclared. However, Zetland Corporate Services recognizes that this 'clean out' of illegal money actually represents a step forward for corporate offshore banking, not a backward step.

Zetland Corporate Services operates under a Know Your Customer principle, as do the major banks they deal with for offshore investment business clients. They also advise their customers that secrecy should not be regarded as absolute in any jurisdiction.

Jason Weatherhead of Zetland Corporate Services expressed this as a "cleaning up of offshore banking's reputation, but not a substantial change in its processes or advantages".

"Corporate offshore banking offers the same legitimate tax savings it always has, and for those who take care not to inadvertently seem suspicious, the same privacy", Mr Weatherhead continued.

UBS has seen its fourth straight quarterly loss this week and is ranked lowest among all banks in Europe, yet "even UBS's basic attraction is still there, and the share price will build up again as people's memories fade", said Mr Weatherhead.

The inherently global nature of business was among other factors pointed to as still in the favor of corporate offshore banking.

About Zetland Corporate Services:
The Zetland Financial Group - http://www.zetland.biz - provides the offshore investor with fiduciary Services, investment management and corporate advisory services, offering personal service and professional advice with total confidentiality.

For more information please contact:
Jason Weatherhead
Zetland Fiduciary Group
Email: jason ( @ ) zetland dot biz
Website: http://www.zetland.biz

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