Frequently Asked Questions

General Questions

Q: Is Capital Conservator a bank?

A: No. But the Capital Conservator Group provides offshore banking services primarily through its New Zealand authorised Savings and Loan, which is augmented by a Uruguay Trust Company, as well as a treasury company and several financial services companies authorized by various countries.

Q: How do I know my money is secure?

A: All funds deposited with CC are held in top rated secure banks. All CC companies are government authorised to perform various financial services. Our primary banking partner, is a wholly-owned subsidiary of , the largest bank group in South East Europe. Deposits in our primary banking partner in Cyprus which provides our MasterCard are 100% guaranteed by the Government Central Bank. Most importantly, CC closely monitors both the banks at which CC accounts are held and the countries in which they are held to ensure that no economic, legal, or regulatory changes threaten the safety of CC accounts.

Q: How do I know you are legitimate?

A: Our formation documents are available for review and can be verified in the companies registry.

Q: What is the advantage of your service?

A:

FAST: more than 90% of wires sent from CC to major banks are received within two business days.
HASSLE-FREE: sending a payment is as simple as filling out an online form.
SECURE: the correspondent banks for CC are rock-solid, government regulated commercial banks. Because CC operates under a New Zealand Charter and its records are administered from Uruguay, customer information is protected by two layers of very strong financial secrecy laws from both countries.
PRIVATE: We provide an initial layer of security in that your account is with CC, not with any of its banks. CC has the bank accounts through which the transactions are made; hence the bank does not know who you are.
ANONYMOUS: Our unique random reference system allows wires to be sent to and from your account with CC without outsiders knowing to whom or from whom they are directed. It works very simply: instead of putting your account name or number on the incoming or outgoing bank wire, a random reference number CHOSEN BY YOU is added to the wire order and we are advised of that reference number using a brief encrypted email form we supply you.

For example, instead of receiving 9 incoming wires all referenced to ABC Company or account 1234567, each wire could come with a different random reference number chosen by you, and so long as you advise us of the reference number, amount and sender, your account can be credited without delay.

Q: How can I have the greatest amount of privacy when sending and receiving bank wires with Capital Conservator?

A: Our unique random reference system allows wires to be sent to and from your account with CC without outsiders knowing to whom or from whom they are directed. It works very simply: instead of putting your account name or number on the incoming or outgoing bank wire, a random reference number CHOSEN BY YOU is added to the wire order and we are informed of that reference number using the online Incoming or Outgoing Wire form.

For example, instead of receiving 9 incoming wires all referenced to ABC Company or account 1234567, each wire could come with a different random reference number chosen by you, and so long as you advise us of the reference number, amount and sender, your account can be credited without delay.

You can add another layer of privacy by requesting that your accounts be held at more than one of our banking partners. You could receive funds in one bank and send them from another.

Our Banking Partners

Q: Which banks does Capital Conservator use?

A: Capital Conservator Companies have accounts at a growing number of banks in South America, Europe and Asia. Our primary bank for business customer deposits is in Macedonia. Our primary bank for MasterCard is in North Cyprus. Neither Macedonia nor North Cyprus has tax or information treaties with the US or EU.

Q: Why does Capital Conservator use these banks?

A: Because they fully licensed commercial banks that are stable, safe, and have very few restrictions on the kinds of transfers we can make. Neither bank requires us to share any information on our customers with them. Our banking partner in Macedonia is more than 60 years old and is owned by the leading banking group in South-East Europe. As such, it has correspondent accounts with some of the biggest banks in the world including Citibank, JPMorgan Chase Bank, Canadian Imperial Bank Of Commerce, Deutschebank, Barclays, The Bank Of Tokyo-Mitsubishi, UBS, and Credit Suisse, among others. Deposits in North Cyprus are 100% guaranteed by the Government Central Bank. Both banks are next to, but outside of the EU.

Q: Why is an account with CC better than an offshore bank account?

A: CC manages banking relationships in the same way as a well-run investment fund manages its investment portfolio. CC has accounts at multiple banks in multiple countries. At the slightest sign of risk, funds are immediately transferred to safety. All of this is done without adversely affecting the customers’ accounts or access to them! Because the customers have their accounts with CC, they do not have to go through the difficult and expensive procedure of opening new accounts if a change of banks is required. The world political and economic climate is too volatile and complicated to simply assume that a bank that was “safe and private” last year still meets those requirements!

Q: What investments can I make through an account at Capital Conservator?

A: Virtually any kind of investment you wish—(subject to minimum investments of €25,000 or more per account opened). CC has just been approved for trading accounts which will allow qualified customers to trade online using segregated sub accounts held by CC. Additional such accounts re under process in several jurisdictions.

Q: Do you provide loans?

A: No. Specific consumer lending facilities are being established in 2008 in several countries.

Q: What are your office hours?

A: CC offices in Montevideo are open from 09.30 until 18.00 (Uruguay time) Monday through Friday, except for bank holidays. Because our two major currencies are US Dollars and Euros, we also observe most major US and EU bank holidays in addition to local bank holidays. Our customer service office in Europe is open from 08.00 until 16.00 Central European Time.

Q: What are your live customer service hours?
A: Live customer service by phone or text in Uruguay is open from 09.30 local time until 18.00 New York time weekdays. Our customer service office in Europe is open from 08.00 until 16.00 Central European Time. Our offices are closed for local bank holidays.

Q: In what languages is customer service available?
A: Customer service is available on weekdays in:
• English from 08.00 Central European Time until 18.00 New York Time.
• Spanish from 09.30 Uruguay Time until 18.00 New York Time.
• Portuguese 09.30 Uruguay Time until 17.00 New York Time.
• German 09.30 Uruguay Time until 17.00 New York Time.
• Russian and Serbo-Croatian most days by appointment.

Q: In what languages is online account access available?
A: Online account access in available 24/7/365 in English, Spanish, German and Portuguese. (Russian and Serbo-Croatian coming soon.)

Accounts & Transfers

Q: What can I do from my online account access?

A: When you online account is fully approved and unrestricted, you can:

Send and received secure messages from CC.
Order outgoing wire transfers.
Advise CC of incoming wire transfers you are expecting.
Make transfers within your own accounts.
Make transfers to other CC Customers.
Load funds onto your MasterCard or ATM card.
Transfer funds into an online trading account.

Q: Can I transfer those funds into Capital Conservator on one day and then transfer them out on the next day?

A: Yes. Depending upon which of our partner banks the funds are being sent into. As above, please coordinate with the CC Customer Accounts office so we can select the best place for those funds.

Q: Can I transfer very large amounts into Capital Conservator without problems?

A: Yes. Among our partner banks we include those that will accept such transfers with a minimum of paperwork. Please coordinate with the CC Customer Accounts office so we can select the best place for those funds. We have been able to accept upwards of US$10 million in a single transfer.

Q: If a customer sends an incoming wire online or leaving out the Intermediary Bank
A: It is not absolutely necessary to include our intermediary bank information in order for a wire to be received into your account. However, if our intermediary bank is not used, wires can take a few days longer and the intermediary charges can be higher. If that is not a problem for you, then the Intermediary information can be left out.

Q: How long do transfers take?

A: More than 90% of wires sent from CC to major banks are received within two or three business days.

Q: In which currencies does Capital Conservator have accounts?

A: In Euros (EUR), US dollars (USD), British Pounds (GBP), Swiss Francs (CHF), Australian Dollars (AUD), Japanese Yen (JPY) and Canadian Dollars (CAD). Other major currencies can be added as required including Danish Crowns (DKK), Norwegian Crowns (NOK), and Swedish Crowns (SKK). Up to one week processing time may be required to set up accounts in new currencies.

Q: What payments or purchases can I make through an account at Capital Conservator?

A: Any kind of purchase you wish. You can use our MasterCard at millions of locations worldwide and our new ATM card anywhere that will accept PLUS, STAR or INTERLINK

Q: Can I deposit cheques or make ACH deposits into my account at Capital Conservator?

A: Capital Conservator accepts cheques from the US and EU for deposit, subject to the conditions outlined in the section Making Deposits Using Cheques. ACH deposit is NOT available at this time.

Q: Can an individual person have an account with Capital Conservator?

A: Yes. Individuals may open accounts with Capital Conservator. For maximum security and privacy, individuals are encouraged to open accounts through business entities. If you don't have an offshore company and would like to set one up, our trust company affiliate can provide one for you in as little as one business day.

Q: Can company, trust, foundation or other legal entity have an account with Capital Conservator?

A: Yes. All such entities may open accounts with Capital Conservator.

Q: Can an unregistered common law trust have an account with Capital Conservator?

A: Yes.

Q: Why is it better to have an account in a company name than in my own name?

A: When you use a company account you add one more layer of privacy and protection between you and those who would try to seize your assets. If you send wires to an account in your own name, you clearly point to your offshore holdings. Further, should a court ever be able to penetrate Uruguay’s secrecy laws and require our records, they will show you as the company manager or director, not the owner—if the account is in your own name, you are clearly the owner of the funds in it.

Applying for an Account

Q: How do I sign up for an account?

A: You can open your account in five easy steps:

Register with us online. Your registration is confidential and protected under the strict secrecy laws of two countries.
If you register during our business hours, we will usually email you within 30-45 minutes withyour account number and login and password for our secure online account access
From your online message, download and sign the Account Application Agreement and attach the ID information required.
OPTIONAL - Fax, or email your completed Account Application Agreement and required ID for pre-approval. (PGP encryption available).
Send your completed Account Application Agreement and required ID to our offices in Uruguay.

Q: How long will it take to open an account?

A: You can complete the online registration in less than five minutes.

If you register during our business hours, we will usually email you within 30-45 minutes with your account number and login and password for our secure online account access. At that point you can send funds into the account. Provisional status, based on pre-approval of scanned documents and payment of the account opening fee has been granted in as little as one day, with full unrestricted account approval in a week or less. The primary delay for final approval is the time it takes for the ID documents to be delivered to our offices in Uruguay.

Q: What ID do you accept?

A: The preferred ID documents are a passport and proof of residence. Other government issued photo IDs can be acceptable, and several combinations of documents will be accepted as proof of residence.

Q: What does it cost to open an account with Capital Conservator?

A: The fee to open an account with Capital Conservator is US$250 if you pay with a credit card. If you pay offline, the fee is US$325. If payment is made within 7 days, your account will be credited the difference to reflect the online credit card price.

Q: What are acceptable forms of payment for my account opening fee?

A: Users can pay directly through the website at time of registration with a Visa, MasterCard or Amex for account opening and fees. for company formation or for our Platinum MasterCard. Payments can be made via bank wire, Western Union, Moneygram, or even PayPal. You can also pay these fees by including them in your initial deposit by bank wire.

Q: What is the minimum deposit required to open an account with Capital Conservator?

A: €500 or the equivalent in another currency. If you wish, the account opening fee can be deducted from this initial deposit. Accounts with balances of less than €500 or the equivalent in another currency will incur a monthly fee.

Q: What are the fees for accounts and other services from Capital Conservator?

A: Click here to review the account fees.
Click here to review the current company fees.
Click here to review the current encrypted email and administrative services fees.

Q: Can I have the certified copies of my identification and proof of residency documents back after my account is opened?

A: No. We are required to retain them.

Credit Card Payments

Q: What is CC’s refund policy concerning account opening and company formation fees paid by credit card?

A: Account opening fees will be refunded on client’s request within 30 days of purchase. Company formation fees will not be eligible for refund except in cases where CC has made an error in the formation of the company. MasterCard fees will not be eligible for a refund unless CC has made an error in issuing the card.

Q: Why was my credit card declined?

A: The most common reason for a credit card being declined is that the purchase price was too high to be accommodated by the daily or total limit on the card being used. In most of these cases, the customer must use another card or increase his authorised purchase amount by working directly with his credit card company.

Q: Why did I get an error message during the last step of trying to register online?

A: This is usually the result of missing a required piece of information for completing your credit card purchase. The error message will offer clues as to the reason. The most common are a missing or incorrect CVV number (security code on the back of the card), or an incorrect or expired “expiration date” for the card.

Prepaid MasterCard

Q: What types of cards are offered?
A: At this time Capital Conservator offers a pre-paid Platinum MasterCard. This card gives you instant access to your funds, anytime, at any of the more than one million bank machines in the MasterCard automated teller machine network. In addition, you can use Capital Conservator Platinum MasterCard in any of the more than three million merchants worldwide where MasterCard is accepted.

Q: In what currencies is the Platinum MasterCard available?
A: We are pleased to offer the Platinum MasterCard in EUROS or US DOLLARS.

Q: If I do not have an account with Capital Conservator can I still obtain a card?
A: Unfortunately not at this time. In order to be eligible for a card you must also be a customer of Capital Conservator. However, you may apply for both an account with Capital Conservator and a card at the same time. Please visit https://www.capitalconservator.com/form/start.php to apply for an account now.

Q: How many Platinum MasterCards can be issued to one account?
A: When you apply for the card you have the option of requesting a free additional card on the same account. If you do not request a second card during the application process and want one later, additional fees apply.

Q: What are the Purchase/Withdrawal limits on the Platinum MasterCard?
A: There is a combined limit for cash withdrawals and purchases of 10,000 daily or 60,000 monthly (in whichever currency the card is issued--EUROS or USD). There is an option to increase your monthly limit.

Q: Can I check my Balance online?
A: Yes, customers will be able to log into at any time to a secure webpage to review their card activity.

Q: What name can I put on my Platinum MasterCard?
A: You may put your name, your company name, or both.

Q: Can I have a Platinum MasterCard issued in the name of a Company?
A: Yes, if you provide the necessary company documentation.

Q: Can I have a Platinum MasterCard with no name?
A: No, but you can have a card in a company name only.

Q: How much can I load onto my Platinum MasterCard?
A: You can load up to 100,000 Euros or 150,000 US Dollars at a time. There is no limit on the total amount that can be loaded onto the account.

Q: How do I load money onto my Platinum MasterCard?
A: For security purposes the first load after you receive your card must come from one of your existing Capital Conservator accounts using the Fund Card option. Thereafter, you will also be able to wire funds directly onto Capital Conservator’s Card Loading Account with the card processor.

Q: How long does it take to load funds onto my Platinum MasterCard?
A: Generally it takes 2-3 business days for a bank wire to get either from CC OR your bank to the CC Card Loading Account with the card processor. Except for your first card load, you can save time by sending the funds directly to the CC Card Loading Account.

Q: Once I order and pay for my Platinum MasterCard how long does it take to arrive?
A: Once your payment and has been received and your application approved it takes several days for printing and embossing. Once your card package is ready you will receive your card in 2-3 weeks, or sooner depending on shipping options.

Q: My card was lost or stolen what should I do?
A: Complete instructions were in the package containing your card. If you have lost those instructions, please contact Customer Service IMMEDIATELY.

Q: What are the Platinum MasterCard fees?

A: Please click here for a listing of current fees for the Platinum MasterCard.

Q: How long is my Platinum MasterCard good for?
A: The card is valid for three years from issue.

Q: Can I have Platinum MasterCards for more than one account with CC?
A: Yes, you may have several Platinum MasterCards, each connected to a different CC account. For example, you could have a personal card and additional cards for each different company account you have with CC. Unfortunately, at this time, you must complete the application process and documentation for EACH separate account. You must also inform CC Customer Service to which account you want each card application connected.

Q: Can I have one Platinum MasterCard account in Euros and another in US Dollars.

A: Yes, you may have different Platinum MasterCard accounts in Euros and in US Dollars. Unfortunately, at this time, you must complete the application process and documentation for EACH separate account. You must also inform CC Customer Service to which account you want each card application connected.

Q: I am having problems getting my Platinum MasterCard to work what should I do?
A: Please contact CC Customer Service.

Q: This card is beyond my price range do you have a more economical option?
A: At this time we do not, however, we are finalizing a contract for a separate prepaid card, although the daily limits will be much smaller. If you would like to be notified when the less expensive card is available please send an email with a request to info@capitalconservator.com

Q: I want the Capital Conservator Platinum MasterCard, where do I apply?
A: It is simple. Just log into your Capital Conservator account at https://www.capitalconservator.com/system/login.php and send a message to Customer Service requesting your Platinum MasterCard application instructions.

Interest Bearing Accounts

Q: What are the current rates for the interest bearing accounts?

A: Click here to see the current rates. The posted rates are subject to change at any time.

Q: Does Capital Conservator offer accounts that pay interest?

A: Yes. At present we offer interest 15-day call accounts, 30-day call accounts, and term deposits (also known as certificates of deposit or CDs) with a 3, 6 or 12 month term. (24, and 36 month term deposits will be available later in 2008.)

Q: In which currencies does Capital Conservator offer accounts that pay interest?

A: At present, only Call and CD/Term Deposit accounts denominated in US Dollars (USD), Euros (EUR) or British Pounds (GBP) pay interest.

Q: What is a demand account?

A: In Demand Account or Demand Deposit Account the funds are available to the customer immediately upon request. This is the normal account that is opened at Capital Conservator. Interest is NOT paid on these accounts at present.

Q: What is a Call/Advance Notice account?

A: In a Call Account (also known as a Advance Notice Account) the funds are available to the customer a specified number of days after they have been requested by the customer. A 15-day call/notice account means the funds will be available to the customer 15 days after they have been requested. This waiting period allows a higher rate of interest to be paid on the deposit. At present Capital Conservator offers 15 and 30-day call/notice accounts. The minimum account balance is €5000 or US$5000 or £5000.

Q: What is a Term Deposit or Certificate of Deposit (CD)?

A: In a Term Deposit (or Certificate of Deposit) the funds are invested for a specified period of time. At present, Capital Conservator only offers 3-, 6- and 12-month Term Deposits. Term Deposits pay the highest rate of interest. The minimum term deposit balance is €10,000 or US$10,000 or £10,000 and 5000 increments thereafter.

Q: Which Capital Conservator company actually offers the interest bearing accounts?

A: Interest bearing deposits are issued and paid by Capital Conservator Savings and Loan (CCS&L), a New Zealand chartered finance company which has received Approved Issuer Status from the New Zealand Department of Inland Revenue.

Q: Are the deposits insured or guaranteed?

A: The deposits with CCS&L are not part of any government insurance program. These deposits are guaranteed by the Capital Conservator Group and are 100% backed by cash or marketable securities.

Q: What kinds of marketable securities will CCS&L purchase?

A: The securities purchased by CCS&L are primarily government obligations such as T-Bills, treasury bonds, and other government securities in various countries which offer the highest rate of return with the lowest risk.

Q: What must be done to open an interest bearing account?

A: All approved customers of the CC are automatically approved to open a deposit account with CCS&L. No additional paperwork will be necessary. You simply transfer the funds required to your demand account and request customer service to set up the interest bearing account you require and then transfer the funds into the new account.

Q: How is the interest paid on call accounts?

A: Interest earned on call accounts is paid on the third business day after the end of the calendar month. Interest is calculated on the principle of annual simple interest and is paid on the average daily balance during the month. No interest is paid at all if the balance falls below €5000 or US$5000 or £5000 at any time during the month.

Q: How is the interest paid on term deposits (CDs)?

A: Interest is paid for the term selected from the day after the deposit is made to the day the deposit is redeemed. Both principal and interest are repaid to the customer’s demand account. Payment is based on the actual number of days the funds are held.

Q: Can I withdraw the funds in a term deposit before the maturity date?

A: No redemption shall be made prior to the date of maturity of the certificate of deposit, or the date given for a call account.

Q: What happens when term deposit interest rates change?

A: Term deposits are not affected and the agreed upon rates will apply until the maturity date.

Q: What happens when call account interest rates change?

A: Rates for call accounts may be changed without notice at the beginning of any calendar month. You will be notified via the online messaging service if the rates are changed during a calendar month. If that happens, your interest payment at the end of the month will be calculated at the old interest rate from the beginning of the month to the date of the changed rate, after which it will be calculated based on the changed rate.

Q: How do I notify you I want funds from a call account?

A: You must notify Customer Accounts using the Online Account Messaging Service. Your notification will be acknowledged and you will be advised on which day the called funds will be transferred back to your demand account. Transfers due on weekends or holidays will occur the first business day thereafter.

Q: What happens at the end of my term deposit period?

A: At the date of maturity, your funds will be transferred to your demand account. The interest earned at maturity will also be posted to your demand account. If you desire to purchase a new term deposit for a specified term, you must advise Capital Conservator in advance in order not to lose any interest between the expiration of your old term deposit and the beginning of the new term deposit. Capital Conservator will not automatically renew your term deposit.

Q: How can I track my balances in my accounts?

A: You will have the same online viewing of your interest-bearing accounts as you do with all other accounts. Interest bearing accounts will have the same account number as the demand deposit account of the same currency, but with an extra suffix. For example, if your USD demand account number was 170711209-0:

a 15-day call account in for USD would be 170711209-0-CA15,
a 30-day call account in for USD would be 170711209-0-CA30,
a 6-month term deposit in USD would be 170711209-0-TD03,
a 6-month term deposit in USD would be 170711209-0-TD06,
a 12-month term deposit in USD would be 170711209-0-TD12.

Q: Can I transfer or assign my interest in an account?

A: Accounts may not be transferred or assigned to any third party without the prior express written consent of CCS&L.

Q: Can I use my deposit as collateral for a loan from Capital Conservator?

A: Funds on deposit with Capital Conservator may be used as collateral for loans of smaller amounts provided the funds are blocked until the entire loan is repaid together with all interest and any penalties. Any loans made are solely at Capital Conservator’s discretion.

Q: Is the interest earned subject to taxation?

A: Not to you! Capital Conservator pays it for you so you receive the net posted interest rate. New Zealand requires a 2% withholding tax on the payment of interest to account holders of CCS&L. If the account holder is subject to taxation in other jurisdictions, it is the sole responsibility of the account holder to pay all taxes due, if any.

Q: What documentation is given for a term deposit (CD)?

A: A certificate of deposit which describes the terms of the deposit, the beginning date, the maturity date and the amount of the deposit is provided by email scan and by regular post. Click here for an example.

Making deposits using cheques

Q: Can I deposit funds into my account at Capital Conservator using cheques?
A: Yes, Capital Conservator generally accepts cheques for deposit if they are issued from banks in the EU or United States. Other countries may be considered on a case-by-case basis.

Q: Can I pay for the account opening fee using a cheque?
A: No.

Q: Is there a minimum amount that can be deposited in a single cheque?
A: Yes, the minimum cheque that we will except for deposit is US$5000.

Q: What must I do to qualify for making deposits by cheque?
A: You must first be an active fully approved customer. Second, you must deposit US$1000 by bank wire, Western Union or Moneygram to be held in escrow in a 90 day notice account. (You will not receive interest on the account.) That amount cannot be returned to you until 90 days after the last cheque deposit made by you. This deposit will be used to pay fees for any cheques that are rejected as false, fraudulent, stolen or uncollectible for any other reason.

Q: What is the procedure for making a cheque deposit?
A: Each cheque must be individually approved in advance BEFORE being sent to Capital Conservator for deposit. The approval process usually takes four business days. To start the process you must provide some information on the source of funds and a good quality scan of the cheque. If the cheque is approved for deposit, you must send it to CC for deposit and clearing.

Q: How long does the cheque clearing process take?
A: Three to four weeks. In any event, the funds will be available for your use only after CC receives confirmation that the funds have cleared.

Q: Once a cheque has been pre-approved will CC give me access to any part of the cheque deposit before the cheque clears?
A: No.

Q: What happens if a cheque is returned by the issuing bank?
A: Your escrow account is debited US$500. You must repay this amount to the escrow account in order to submit any additional cheques. If a second cheque is returned by any issuing bank, you will be charged US$1000 and your accounts with CC will be closed.

Q: What is the deposit fee for a cheque deposit?
A: For most cheques it is 5%, but it may be as much as10%, depending upon the issuer, country, amount, etc. The minimum fee is US$250.

Business and Company Questions

Q: What bank wiring information should I put on an invoice that I send to my customers so that they can pay directly to my CC account?
A: The following information must be put on your invoice in order for the funds to reach your CC account.

You can get the information to fill in each of these fields (indicated by ***) from your online account access in the Incoming Wire Form.

SWIFT Field 57a (Beneficiary Bank)
SWIFT / BIC: ***
Name: ***
Address: ***
Location: ***
Country: ***

SWIFT Field 59 (Beneficiary)
Name: Capital Conservator Savings & Loan Limited
Address: 60 Cook St; #324, Auckland, New Zealand
Account Number: ***
IBAN: ***

Swift Field 70 (Customer Information)
For further credit to: ***your Company Name and your CC account number

Remember please, the information for each currency you use the information will be at least slightly different.

Q: What jurisdictions do you use for offshore companies?
A: The main countries we use for offshore companies are Panama and the Seychelles.

Q: Why did you choose the Seychelles and Panama for offshore companies?
A: Both countries offer bearer share companies and have strong privacy acts. Neither country requires us to provide any customer information to the government. The Seychelles is not on any offshore “black list” and can be useful for many kinds of enterprises. Seychelles companies can be operated in English or French. Panama companies are very attractive for our Spanish speaking customers because they are legally operated in Spanish.

Q: What states do you use for US Limited Liability Companies (LLCs)?
A: We use Delaware, Florida and Washington, DC. Since so many people have used Delaware LLCs in the past, Delaware companies have become unpopular in some parts of the world. Florida and Washington, DC LLCs serve the same purpose, but without a tainted reputation anywhere.

Q: Why do you offer US LLCs since the US is NOT an offshore country?
A: The US is an offshore jurisdiction for anyone except US persons. A properly organised US LLC is considered a “disregarded entity” for US tax purposes. This means that the company can even have a US address and tax number, but so long as it does no business in the US, it income from the rest of the world is tax-free AND the LLC does not even need to file a US tax return.

Q: What about Uruguay companies?
A: Uruguay has stopped formation of its offshore companies know as SAFIs. However, Uruguay domestic companies can still make very attractive holding companies for larger enterprises (because they are relatively expensive to form and operate). They are superb holding companies because tax paying Uruguay domestic companies are exempt from all taxes on income from foreign investments.

Q: Do you offer special companies or more advanced asset protection structures?
A: Yes. These entities are provided through our affiliated trust company, SwiftTrust Treuhand SA and partner legal and accounting firms around the world. Such structures can be fairly expensive and are only useful to more affluent persons. They can include:
• Individually designed premium asset protection structures.
• New Zealand tax-free trust and trustee structures.
• Panama private interest foundation and company structures.
• New Zealand offshore financial companies (like Capital Conservator Savings & Loan).
• Protected cell companies and series limited liability companies.

Q: What are the limitations on the names that can be used for companies?
A: Nothing can be used that implies that the company is a bank, insurance company or trust company. The words bank and insurance are forbidden. Trust can only be used in severely limited circumstances. There are additional restrictions in some jurisdictions.

Q: Can a licensed offshore online gambling company have an account with Capital Conservator?
A: Yes. Capital Conservator welcomes funds derived from any legal operation.

Q: Is there a document anywhere that explains CC’s online account access?
A: Yes, it is at www.ccoffshore/onlineaccess.pdf.

Q: Can I order SWIFT transfers and querying transactions from my online account?
A: You can order SWIFT wire transfers from your online account. To order any other SWIFT message you need to send an online message from within your online account requesting it. Depending upon your request, there may be a charge for the service.

Q: Does the online account access with CC keep a record of all movements on the accounts? If so, how far into the pass does it show?
A: Yes, there are online reports you can access with a complete record of all transactions from the day you opened your account.

Offshore Merchant Accounts

Q: Can Capital Conservator provide an offshore merchant account to accept payments from Visa, MasterCard, American express and other cards?
A: Capital Conservator can provide merchant accounts through two different partner companies. You can download and email an application for one company from this link. You can complete an online application from this link.

Uruguay

Q: Why are your administrative offices in Uruguay?

A: Because of Uruguay’s Secrecy Law and the stability and high level of infrastructure Uruguay offers. Further, Uruguay neither taxes nor regulates activities carried on outside the country but administered from here. This provides the highest available level of privacy from undue scrutiny.

Q: How strong is the Uruguay Secrecy Law?

A: Very. Its key provisions state that covered persons:

“may not provide any information regarding funds or securities in checking, savings or any other account belonging to a natural person or juridical entity. They also may not report confidential information received from clients or regarding their clients. Referred operations and information are protected by professional secrecy and may only be revealed by the express written authorization of the interested party or by a well-founded resolution by Criminal Justice or competent Judicial authority when child support is at stake and in all cases, shall be subject to the strictest responsibilities of any damages stemming from lack of a well-founded request. No exceptions other than those established under this law shall be admitted. Those who do not comply with this article will be punished by three months to three years of prison.”

Q: What time zone is Uruguay in?

A: Figuring out the time in Uruguay, relative to other countries can be complicated. At present, Uruguay is 4 hours earlier than London time and 1 hour later than New York time. (This next change in October 2008.)

Q: During what hours can I contact a live Customer Service Representative online or by telephone?

A: At present our European Representative is available from 08.00 to 16.00 Central European Time. Our Americas Representatives are available from 09.30 to 18.00 Uruguay Summer Time. Our North America Representative will be available 09.30 to 18.00 New York Time. This provide 16 hours of live customer service every business day.