Tuesday, November 28, 2006

A U.S. Bank for Bond, James Bond?

Wasn't that 007 skiing at Aspen? Mr.Bond must have stopped by Denver to consult his confidential banker at American International Depository and Trust.

As reported in the What's Offline column in The New York Times, E. Jerry James has founded what's said to be the first private bank for foreigners in the United States. He created the bank to take advantage of Colorado’s Foreign Capital Depository Act of 2001.

From the point of view of the bank's foreign clients, AID&T will be "off shore":
As a U.S. banking institution, we provide access to investments in various asset classes to international families and businesses. These families and businesses will enjoy the added benefits of confidentiality, asset protection, and tax mitigation as well as trust services and family office services, all in the most politically and economically secure country in the world.
"Tax mitigation." Sure has a nice ring to it!

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