Google's Mobile-First Indexing – The New SEO Strategy

Have you heard about that Google will be switching to a mobile-first index in the upcoming future, but if you’re not certain what this means or how it will work on your site, don’t get worried? With a modest research, you won’t have to be panic about Google turning your rankings upside down. Here in this write up you will get the complete explanation about the basics of the update and can take steps to get ready.
Right now, as you know Google crawls as a desktop user’s point of view and thus catalogs websites according to the desktop version. But with this latest update now the genuine content of a mobile site doesn’t have an effect on the desktop site’s ranking in SERPs presently.
This update from Google was introduced back in November of 2016, more than ten months ago. Some people are calling this update an ‘experiment,’ but in reality, it’s really the primary move in Google’s intended move to looking mainly at mobile content, somewhat than desktop, when deciding how to grade results.
Now to your concern its good to mention that, if you’re using a responsive design, you should be well with this latest update. Technically, mobile and desktop version has similar content being easily reached on mobile and desktop. But if you’re using different mobile URLs, or using different content on your mobile URLs by means of dynamic serving, then you have to be very cautious. This update somehow can potentially cause colossal problems including a fall in rankings across URLs on both mobile and desktop versions. To make sure whether you require taking any action for with this issue, website owners can test their site in Google’s Page Speed Insights Tool. This tool will help you in checking all the important aspects of your website.
Mobile-first indexing is the new search norms, where users are using mobiles for search on mobile devices. Because the greater part of web users now use mobile devices, so Google is shifting the technique it indexes content. Historically, even after the mobile-first update, Google will uphold its reliance on a solitary index of apps and pages.
Google has in fact been experimenting with this update for at least 10 months now, but the question here arises why haven’t we seen this change yet now? Back in March, an expert from Google claimed that Google wants to start on mobile-first indexing this year, there’s no official timeline for this process to start, and it may take quite a few more months to get started. In the meantime, I extremely suggest all sites review their current mobile system for Smartphone’s and use understand how Google is seeing your mobile content. Don’t wait for search engines to act…the time to take action is now.

Basics of Navigating the Digital Millennium Copyright Act ("DMCA")

Due to the proliferation of the Internet, social media platforms, and hosting websites, online service providers have often become unwitting hosts to materials that may potentially infringe on the copyrights of another. Likewise, original content creators have also increasingly found themselves to be targets of unjustified DMCA takedown requests. Sometimes these takedown requests are made for anti-competitive or harassing purposes by competitors of the website operator.
The Digital Millennium Copyright Act (DMCA) provides a safe harbor in certain circumstances for website operators, who host materials submitted by third parties that may infringe the copyrights of others. If the copyright owner provides a take down notice in compliance with the requirements of the DMCA and the website operator timely complies with its obligations under the DMCA, it may be shielded from liability for copyright infringement. The website operator can adopt and post a copyright policy to facilitate DMCA compliance. A sample copyright policy is below, which requests that a takedown notice including at least the following information:

  • A detailed description of the copyrighted work you believe is being infringed upon description of the location of where the alleged infringing content appears;
  • Your contact information (including name, address, telephone number, and email address);
  • A statement that you have a good faith belief that the alleged infringing use is not authorized by you as the copyright owner, your agent, or by law;
  • A statement affirming that, under penalty of perjury, the information in the notice is accurate and that you are indeed authorized to act on behalf of the copyright owner; and
  • An original signature of the copyright owner or someone authorized on the owner’s behalf to assert infringement of the copyright as well as to submit the claim.

In addition to the policy, the website operator should register an agent with the United States Copyright Office.
While the above identifies a number of eCommerce and internet law issues affecting compliance with the DMCA, an in-depth analysis may be required. For example, the timeliness requirement for the take down has been a hot litigation topic lately. Additionally, the DMCA applies to copyrights only, and does not currently provide a safe harbor for trademark infringement or patent infringement claims. These type of claims stemming from users of the website can be addressed in the Terms of Use or other website agreement between the website operator and its users.

The Dos and Don'ts of Using Craigslist to Buy Home Furniture

Are you looking for good deals on home furniture? If so, you should visit the online classified website Craigslist.org. You will find lots of good deals, but what should or shouldn’t you do when shopping?
DO use a Craigslist search machine. These are desktop applications that you download and install on your computer. They make searching Craigslist easy. Not only can you search multiple categories at once, but multiple locations too. You can choose from statewide, nationwide, and multi-city searching. Since home furniture is pretty large, your best bet is to search nearby communities that you can drive too. Still, a Craigslist search machine allows you to perform one search for all locations you choose, unlike Craigslist.
DON’T rush to make a buying decision, but also don’t wait too longer either. Over the years, Craigslist has skyrocketed in popularity. Good deals on the website don’t last long. Since you want to get a good deal on an item, like a used couch, make your decision quickly. If you wait even just an extra day, someone else may come along and snatch up the good deal.
DO search for home furniture daily. As previously stated, Craigslist.org has increased in popularity over the years. For that reason, more people turn to it to sell their unwanted goods and to make extra money. They do so often. Each day, a new seller may upload a home furniture item, like a bed, dresser, or entire bedroom set. As mentioned above, good deals don’t last long. Not only do you want to act quickly when you find something that you like, but you also want to search the website often. Do this whether you search directly from Craigslist.org or if you use a Craigslist search machine.
DON’T forget to ask the seller questions. If you need a cheap coach or another piece of home furniture, you may get excited when you see a nice looking item posted on the website with a cheap price. First, it is important to make sure the item is really worth it. A used couch for $15 sounds nice, but not if that used couch as been sitting outside in the rain for the last week. It is also important to inquire about stains and other types of wear and tear. To get the best deal on home furniture, you must ensure that you are getting a quality item. Unfortunately, pictures and seller descriptions can be deceiving.

15 Travelers That I Have Met

There are really as many type of travelers as there are people. Here we take a tongue in cheek look at some of the common types.
1. The Complete Budget Traveler
The complete budget traveler travels on a strict budget and does not vary from it, no matter how exciting the recently discovered opportunity is. No extra drinks for this traveler unless someone buys him/her one.
2. The Perennial Party Animal
The perennial party animal has one focus and that is to have fun usually at a bar. These travelers find places to party where others cannot. Perhaps they should be partnered with the complete budget traveler!
3. The Flexible Go-anywhere Traveler
The flexible go-anywhere traveler just chills out where-ever he/she is. There is no need for planning – everything is good. They go with the flow and to not need to know where they are going. Perhaps the traveler that enjoys any experience.
4. The Methodical Planner
The methodical planner does not do anything that is not pre-arranged. Every second is planned and when things go wrong as they inevitably do, they feel unloved. They will always be found where ever the plan tells them to be.
5. The Modern Techie
The modern techie can only travel if he/she has the latest travel accessories and gadgets. Stay close to the modern techie to learn what items works and what items are a waste of money for your next trip.
6. The Avid Souvenir Buyer
The avid souvenir buyer has money to spend and anything that he/she wants to remind them of the holiday. The head for the markets and shops and not interested in spending any time with the perennial party animal. Usually has trouble with baggage weight limits on the homeward journey.
7. The Know it All Traveler
The know it all traveler studies everything from the guidebooks and internet prior to travel. He/she finds great joy in asking the most in-depth questions of the guides or continually interrupts the guide with statements of “fact”. Not sure who the know it all traveler should travel with.
8. The Fancy Photographer
The fancy photography will probably have the most expensive camera (and don’t forget the lens) and take the longest to take any photograph. Other travelers are always waiting for him/her at any special sight. They also like to get out very early to “catch the light.”
9. The Constant Complainer
The constant complainer finds everything on the tour not to his/her usual standard. Usually claim to be frequent travelers and often want to “talk with a higher authority”. Probably should stay home and enjoy the things that are there!
10. The Helpless Traveler
The helpless traveler finds everything a little too much. He/she will ask the most unusual and often useless questions. Often there will be someone on the tour who takes the helpless traveler under their wings to protect them from the others.
11. The “I am looking for myself” Traveler
The “I am looking for myself” traveler is searching for something. It is something unique for each or the “I am looking for myself” travelers. Beat to let them find themselves but make sure that they get about safely.
12. The Incessant Talking Traveler
The incessant talking traveler does not leave anyone alone. They crave a discussion on almost any topic. Often they are quite interesting people but enough is enough.
13. The Travel Light Traveler
The travel light traveler needs only one cabin bag to see the world. They a proud of their achievement but their traveling companions struggle when there is no time for washing clothes. They tend to like to borrow things.
14. The Repeating Traveler
The repeating traveler goes to the same place or holiday each year. He/she can provide at least 101 reasons why you should join them. They take pride in telling you that they have seen three management changes at the hotel and the last manager was better than the current one.
15. The Exercising Traveler
Finally, the exercising traveler rises every morning to a vigorous physical workout. Only stay at hotels with gymnasium and swimming pool. Usually fussy with food and claim to eat “healthy” until the free wine is put on the table.
Whatever type of traveler you are or come into contact with – enjoy the experience and learn from them. Even the most tedious travelers will have something interesting to say.

Analysis to Next Generation Sequencing Technology

With the development of science, traditional Sanger sequencing has failed to meet new requirements of low cost, high throughput and fast in speed.
Recent years, with the discovery and promotion of second-generation sequencing technology, the gene sequencing speed has increased greatly while achieving a substantial decline in costs, making large-scale application of genome sequencing possible. Now, the cost of personal whole genome sequencing is about 5,000$, and is expected to decreased to less than $ 1,000 in the next few years.
The rapid development of sequencing technology will promote the massive accumulation of DNA sequencing data, accompanied by the accumulation of the corresponding individual diseases, signs and other data at the same time. When we accumulate enough data, how to understand these data will be critical. On the micro level, generations of molecular biologists’ studying the effects of apparent biological traits genes exert on utilizing technologies like gene knockout have made breakthroughs in many crucial aspects. On the macro level, statistics and other data analysis techniques are introduced to study the relationship between gene sequences and biological phenotype. The accumulation of basic scientific research gradually brings breakthroughs in clinical applications.
There are now two types of clinical applications mainly, one aims at disease screening of ordinary people. It infers people’s future risks of getting cancer by measuring the known genes associated with a disease loci. The other aims at the diagnosis cancer and other deadly diseases. It finds in a series of drugs or plans the most effective one for certain patients by testing the loci of certain genes.
Data from BBC research shows that total global gene sequencing market increased from $ 7.941million in 2007 to $ 4.5 billion in 2013, and will reach $ 11.7 billion in the year of 2018 with the CAGR up to 21.2%.
Currently, the market of de novo sequence platform is mainly taken by several major manufacturers, including the Illumina, Ion Torrent / Life Technologies (was the acquisition of Thermo Fisher in 2014), 454 Life Sciences / Roche, etc.
Under such a circumstance, the next generation sequencing technology (second-generation sequencing) appears. As an emerging industry, the next-generation sequencing technology can be applied in clinical testing like antibody discovery, health industry, industrial and agricultural use of gene-oriented study as well as scientific research and development.
To stimulate the next generation sequencing market, we need to start by investing more small and medium size industry focusing on this field.

Love Begins With Pets and Insurance

Health is wealth
The current health of your cat or dog often determines his or her overall health in the long run. The sooner you ascertain the health of your pet, the easier it will be for you to predict what your pet might face in the future, health wise.
Declining health maybe of natural causes or accidents. Whatever the cause, you should be prepared beforehand just in case the unthinkable happens.
A tiny droplet does amount to something
Over time your pet becomes an integral part of the family that goes without saying and sometimes your best friend as well; money stowed away now will come in handy for their future. You just pay a premium amounting to a few notes out of your pocket each month which will benefit you and your pet in the long run. So, the next time you see the long bill and it is almost always a long one, you won’t be left floundering.
Costs for pet healthcare are on the rise
Technology is becoming better as time lapses, which is why healthcare services for your four pawed companion is becoming expensive. Besides this, some machines often require specially trained staff to operate them and it is you the pet owner who bears the brunt of this additional cost. So, it is always wise to apply for insurance beforehand.
How insurance helps you and your pet
The expenses incurred for obtaining healthcare expenses at one go can be a source of anxiety for some; you might not have money in hand right at that moment. In some cases insurance might be mandatory if the breed you own is the fragile kind; your vet might recommend one for your pet, if he doesn’t you can always discuss it with him.
Tackling emergencies made easier
Times of crisis seldom come knocking. It’s better to opt for insurance at the earliest so you are saved that frustrating moment of nail biting when the digits on the bill stare coldly at your face.
What should you do?
Consider doing some researching on your own to make sure you’ve got the right insurance plan for your cat or dog, else your pet’s vet is a good advisor. Also, everything ought to be clearly spelled out by the insurance provider; from what the insurance covers and the limitations of the insurance. In that manner you will be spared any last minute surprises when you are need.

Creating A Bathroom Wall Design

Whether you are making a new bathroom or remodeling the existing one, a good wall design should be one of your top priorities. Deciding what materials to be used for your bathroom walls is not an easy task though. You have lots of materials to choose from and virtually endless possibilities of design and pattern combination. The question now is: where to start?
Start by knowing your options for wall design. Tile has long been a popular choice for bathroom wall. It can be made of marble, limestone, vinyl, ceramic porcelain, granite, terrazzo, terra cotta, slate, stone, and glass among others. Take note of the advantages and disadvantages of each and the different effects each type of tile creates to your bathroom.
For example, terra cotta tile achieves a wall that looks weathered and rustic. It is also said to last for lifetime.
Marble tiles, like any other stone tiles must be sealed and require frequent cleaning. But marbles create a unique look when installed on specific areas of the wall.
Glass tiles are best if used as decorative accent but are often expensive and difficult to install.
Vinyl tiles are affordable compared to stone, porcelain, or ceramic. It is easy to install and easy to replace. However, vinyl tiles create several seams that can breed mold, mildew and bacteria. Aesthetic wise, vinyl tiles are not your best option.
Granite is often used as kitchen countertops but it is also good for bathroom wall accent especially if you want highlight a particular wall. Granite is durable and can last for a very long time.
Terrazzo tiles give unique beauty, elegance and longevity. However, it is quite expensive to use as wall design.
Concrete is another option you can take. The material is cheap but installation is not for the do-it-yourself. Concrete can be painted with different colors of your choice to match the mood you want to attain to your design.
Choose one or two materials above as the main wall and blend one or two more. The key is blending the right textures, color tones, and shades. For example, you can use natural stones such as marble, granite and limestone together. Glass with marble and limestone can also work.
There is nothing worst than a bathroom with 4 empty walls. Create a wall design according to your preference.

North Carolina Real Estate Listings

People prefer to buy a house in North Carolina, as a wide choice is available for buyers. Prospective homebuyers can choose from a range of luxurious as well as affordable houses in different parts of North Carolina. Real estate agents too find it profitable to conduct business, as there are several prospective buyers. Real estate listings in North Carolina enable people to get lists of properties for sale on the market. These listings also put forward names of prospective buyers with their preferences. It provides valuable input to estate agents about trends and preferences.
Real estate listings make it easy for all parties involved to select properties best suited to their needs and funds. Homebuyers can put in advertisements mentioning their budget and the kind of house they would like to buy. Sellers post description of houses for sale along with their unique features to attract prospective buyers at competitive prices. Real estate agents, too, participate in the listings by mentioning types of properties they have such as beach houses or town houses. Real estate agents are usually not affiliated to any one particular seller, which means that they are generally not partial towards any seller and present a fair picture of various options to buyers.
Real estate listings can be found in newspapers and on websites of real estate agents as well. Real estate listings are often classified into sections such as commercial properties or residential properties. Classification is also at times done with respect to the geographical area, as North Carolina has a diverse terrain. For instance, Highlands and Ashville offer vacation homes or permanent residences for settlers in hilly terrain. A home in Raleigh would offer a great place to study art and culture of North Carolina.
Real estate listings are an important part of real estate business as it introduces buyer to sellers and vice-versa. Such listings provide an overview of various properties available where customers and agents may negotiate a favorable deal.

The Apartment Search

When you are apartment hunting, prepare a rental search plan. Be sure to know in advance what you want in an apartment and what you can live without. Decide in advance what areas of the city you could consider living in and make a list of apartment buildings within that perimeter.
Be sure to consider how far and how convenient it will be for you to travel to your job or your school or your family and friends. Also, how far is the apartment from stores, banks, hospitals, Church (if you attend) etc. If you have a car, make sure that there is adequate and convenient parking space 24/7. If you don’t drive make sure that there is close by public transportation.
Narrow your apartment locating to the size of rental unit you need. Studio apartment or one bedroom apartment or 2 BR apartment or more. Are you considering a furnished apartment or do you possible need a short term rental. If you are renting an apartment with a cat, dog, or other pet, you need to find out which apartments allow renting with pets and which do not. And, if they do allow pets, is there an additional security deposit required and if so, how much it is. Do you need an apartment complex with an exercise room or tennis courts or a pool or a recreation room, etc. or do you simply need and desire a nice clean and quiet pad.
Be realistic about what you can afford. Most apartment renting guides suggest that your rent should not be more than 25% to 30% of your income. This can vary depending on the income bracket, but be sure to be “real world” when budgeting additional apartment expenses such as heating and air conditioning and other utilities. If you fall short of affording the apartment of your choice, you might consider sharing an apartment with a roommate or roommates. Keep in mind that living with roommates can help you afford an upscale apartment or even, in some cases, luxury apartments, but it also has extreme restrictions to your privacy.
If you are familiar with the area and its neighborhoods, that gives you a distinct advantage for your apartment search. If, however, you are relocating to a new city or are not particularly knowledgeable about the city, you may want to contact an Apartment Locator or an Apartment Finder.
Once you narrow your search for apartments down to apts which suit your needs and desires you must be well organized & well prepared for your visits to the apartment complexes. When inspecting the rental premises be on the alert for unsafe conditions, excessive noise from traffic or playgrounds or neighbors. Visit the apartment building at night as well as the daytime hours. This will give you a more comprehensive understanding of the total space you will be residing in.
When you find the apartment complex that meets your renting needs and desires, you must be ready to put your “best foot forward” when you meet the apartment’s rental agent. This person may be the apartment building manager or a renting agent for the apts. You should prepare for this apartment renting interview in a professional and intelligent manner. Be advised that you are going to be asked to provide proof that you are a reliable prospective tenant. You are most likely going to need references from previous landlords. You may also be required by the apartments to show that you are gainfully employed and can afford the rent. Many landlords may require a credit report. If you are a first time renter and/or you have limited credit history you may be asked for references from family, friends, employer, professionals, etc. Likewise if you are renting with bad credit you will certainly want to come to the interview with a strong selection of references.
You are not necessarily restricted from apartment renting with less than perfect credit, but you may be required to put up an additional security deposit and possibly have a credit worthy person co-sign the apartment lease with you. Don’t unprepared for by requests for any of these things. Be sure to fill out a 100% truthful apartment rental application and come to the interview with references, proof of employment, credit information and any other renting resources at the ready. If you do have a credit history or renting history that might be detrimental, going through an apartment locator or apartment finder may be the best solution. They will present your history to the landlord for you, (make sure they are 100% truthful about it) and they can also be quite helpful and save you a lot of time because they most likely will know which landlords and apartments are more lenient in these circumstances. They can also advise you as to exactly what kinds of references and documents you might need to prove that you can be a responsible tenant.
You Have Located Your “Dream Apartment”
Once you have located your “dream apartment”, or as close to your perfect apartment as possible, now it is necessary to pay extremely close attention to the particulars of the rental agreement. An Apartment Lease is a contract between you and the landlord. Once agreed upon and signed by the tenant and the landlord, the rental lease creates obligations and restrictions for both parties. The most obvious covenants of the apartment lease are the length of the rental, (Six month lease, one year lease, two year lease, etc.) The amount of the security deposit, when the rent is due, who is responsible for what utilities. Also in that apartment lease, however, are stipulations, (sometimes in small print) that can cover a great variety of landlord and tenant obligations and restrictions. They can include, but are not limited to, the following:
o Maintenance of the apartment
o Care of the premises
o Cleanliness
o Insurance
o Governmental regulations
o Eminent Domain
o Nuisance and noise clauses
o Stipulations as to the circumstances whereby the landlord can enter the premises
o Use of Common Areas
o Keys and locks
o Loss or damage
o Parking
o Pets
o Plumbing
o What the landlord may do if the rent is in arrears
o What the tenant can do to bring the rent current before any kind of action might be started
o Non performance or breach of the contract by the renter
o Renter’s penalties in the event of early termination
o Circumstances which might cause the tenant or the landlord to break the lease prior to the end of the term
o Heat and other utilities
o Removal of goods
o Surrender or Non-Surrender of the premises
o Waivers of various obligations
o Prohibited reprisals
o Garbage disposal
o Recyclables
o And the list goes on and on and on.
Prospective tenants should read an Apartment lease thoroughly. Prospective apartment renters should understand everything that is contained in that lease and make an informed decision to be 100% accepting of all the provisions for both the tenant and the landlord, that you are positive that you can live up to your end of the bargain and that you are comfortable with the provisions on the landlord’s end.
If you do not understand every single clause of that apartment lease then do not sign it until you do understand it. If necessary and if possible, request assistance in interpreting the lease from a trusted source such as a knowledgeable friend or family member or employer or professional, or anyone else who can understand it and explain it to you. If necessary get legal advice. It can cost additional funds if you do not qualify for free legal assistance, but that additional cost might save you a ton of money and save you a ton of heartache and aggravation down the road.
If you do not agree with any of the provisions of that apartment lease and/or you feel that you can’t live up to the tenant’s obligations, or if you are not in agreement with any of the landlord’s rights under the agreement, then do not sign the lease until/or unless it can be changed to your satisfaction. If the apartment rental agreement cannot be amended to meet your needs and desires and comfort level then do not sign the lease and do not rent that apartment. The Apartment Rental agreement that you sign as a prospective tenant will not change once you become the actual tenant of that apartment.

Offshore Online Banking Guide – Critical Information You Must Know

There are several legal and regulatory compliance implications with offshore banking that I’d like to cover in this article. However, please don’t construe information on this site as legal guidance. I am providing this information for free based on my own experiences. Please consult your professional attorney or CPA (accountant) before you get involved with offshore internet banking.
What is an Offshore Bank
To be over simplistic, an offshore bank is a financial institution outside the shores of your country. If you are in Australia, a bank in the United States is an offshore bank to you. If you are in the United States, a bank in Singapore is an offshore bank to you. Therefore, the idea of offshore banking is relative.
A business or an individual, in this case you, may select an offshore bank account in a jurisdiction that is typically favorable in terms of taxes (often referred to as a tax haven by media), as well as in terms of legalities. In addition to choosing a jurisdiction with no to little income tax, for many, privacy and “secrecy” of banking activities are two of the bigger key considerations.
It goes without saying that access to your funds is important, as well as protection from corruption and stability in terms of certainty.
List of Common Offshore Online Banking Services
This is a brief list of services offered by offshore banks. This list is by no means a full comprehensive list of an offshore bank’s offerings, but rather a list of some of the most common offshore online banking services that businesses and individuals are offered:

  • Remote Deposits of funds
  • Direct Deposits of funds
  • ACH / Wire Transfers / EFT – Electronic Fund Transfers
  • Consumer and Commercial Lending
  • All Basic Credit Activities
  • Access to Capital – Offshore Debit Cards
  • Forex – Currency Exchange
  • Wealth Management
  • Offshore Trading Account
  • Offshore Brokerage Account
  • Administrative Services
  • Trustee Services

Note: Offshore banks typically tend to focus on either consumer or commercial banking. Within consumer, banks differentiate between retail consumer (the average individual) or private banking (meant for high net worth individuals).
Because each concentration involves a different cost structure from the bank’s perspective, when selecting an offshore bank for yourself, be clear on what type of consumer you are and what offshore online banking services you need. Gaining this clarity will ensure you are not disappointed in your choice.
List of Common Offshore Banks
No doubt the two most common names in offshore online banking are Switzerland and Cayman Islands. Just pick up any business journal or pop in a business based Hollywood flick. There is likely a mention of a Swiss bank account somewhere.
This is because as of at least 2012, these two jurisdictions held the most number of total deposits amongst all offshore online banks. Some other jurisdictions that offer offshore online banking are the following:

  • Singapore
  • Malaysia
  • Panama
  • Cook Islands
  • Dominica
  • Saint Kitts and Nevis
  • Antigua
  • Malaysia
  • Anguilla
  • New Zealand
  • Luxembourg
  • Bahamas
  • Barbados
  • Bermuda
  • British Virgin Islands
  • Cyprus
  • Cook Islands
  • Channel Islands
  • Monaco
  • Mauritius
  • Hong Kong
  • Malta
  • Macau
  • Regulating Offshore Online Banking

With complexity comes increasing regulation. The regulation around offshore online banking activities has steadily increased over the years, but according to many of its supporters it is still not enough. This means much more is in the pipelines. Regulation has particularly increased significantly after the significant events of September 11, 2011.
Regulatory guidance is issued and monitored by global bodies such as the International Monetary Fund or the IMF, who require financial institutions worldwide to maintain a certain level of operating or performance standard, specifically in terms of capital adequacy and liquidity. These key performance indicators are to be reported by banks on a quarterly basis to its designated regulator (such as the Fed or the FDIC in the United States).
The list of regulations is endless and quite comprehensive to say the least. Some notables are the Anti Money Laundering (AML) regulation and the Bank Secrecy Act (BSA). These acts require banks and financial institutions to immediately report suspicious activity resembling money laundering to local government authorities despite stepping out of the BSA jurisdiction.
Another example is the information sharing requirements between a certain group of countries with regards to capital flow and taxation which was initiated by members of the European Union. On the other side of the pond, the taxing body of the United States, the Internal Revenue Service (IRS) requires financial institutions to report to it names of businesses and individuals who benefited from interest income resulting from deposits in US based institutions.
The most notable in my opinion of recently enacted regulations is the US Patriot Act, which permits the US Government to seize all assets of a financial institution if it suspects that the institution holds assets that belong to a potential criminal. Several other countries have since followed suit.
I personally feel these regulations strengthen the global banking infrastructure. But then again I am just one person. There are others who feel in all sorts of ways about offshore online banking.
Interesting Fact: Did you know that just until the 1990s, individuals were allowed to create their very own offshore banks. This practice was stopped and now only large institutions are allowed to do so.
Connotations and Implications of Offshore Online Banking
It is not illegal to conduct offshore online banking, but such activities tend to carry with them a certain set of connotations and legal implications that you must be aware of and comply with. There can be severe fines, penalties and legal repercussions if you fail to comply with the legal and regulatory requirements.
Why you must be thinking? Because offshore banking historically has been used and abused by those who intended to evade taxes, as well as those that used funds for illegal causes. For example, organized crime networks heavily use offshore online banking to launder money.
But like I said, conducting offshore online banking isn’t an illegal activity. All persons conducting offshore online banking are required by most countries (depending on their residency) to disclose the activities and the outcomes, such as interest income for example.
Specifically in the United States for example, a US resident’s income is taxed on a global basis. This means that even interest earned overseas is subject to taxation by US authorities. Now although financial institutions are not required to disclose this information to countries of interest due the bank secrecy guidelines, individuals are required to disclose this information.
Similarly, one can legally avoid taxes in certain situations. For example, a resident of Country X living and working in the United Arab Emirates (UAE) may not have to pay taxes if Country X does not tax the individual’s global income.
Because there is no taxation on income earned in many Arab nations, interest income earned from deposits in a UAE bank account is not subject to tax. Further, the income is also not taxed in Country X. This is a common reason why so many affluent folks change residency and citizenship status, one that resonates most with their financial goals and objectives.
It’s a very interesting dynamic and there is a ton of opportunity for strategics as you can imagine.
Dollar Concentration in Offshore Online Banking
Although offshore online banking is not a subject delved into by the average individual, the numbers involved (concentration of wealth and financial activity) are quite significant. You may find a lot of these simply fascinating.
For example, specialized banking economists and analysts indicate that half of the global capital (money) flows through one of the many offshore banks out there. The so called Tax Havens (think Switzerland) have over a quarter of the global wealth (think high net worth individuals and big companies). These Havens also hold over 30% of profits generated by companies based in the United States.
And that’s not it. Over 6 trillion US dollars owned by high net worth individuals are also reported to be held in offshore bank accounts in one shape or another.
Illegal Monies in Offshore Bank Accounts
Opportunists have identified weaknesses in the offshore banking system and thus have taken advantage of the systems to launder monies generated through illegal means and used for illegal purposes. According to the IMF, this amount is as large as 1.5 trillion US dollars on an annual basis. To put things in perspective for you, this is roughly 5% of the world’s total Gross Domestic Product (GDP).
In addition to illegal monies, there are also monies that have evaded taxation as well as monies that were generated through fraud, graft and corruption. All in all, the amounts are super significant. And as I stated above, the two jurisdictions with the biggest concentration of these amounts are the Cayman Islands and Switzerland (as of 2012).
Offshore Internet Banking for Corporations of All Sizes
I have already stated this earlier, but offshore online banking is not only for large companies, but companies of all sizes as well as individuals. There are a certain set of requirements that any institution, an individual or a company have to meet in order to open and maintain an offshore bank account.
In fact, it is easier for individuals to open and maintain an offshore bank account before companies are required to complete additional forms in a specific manner when establishing an offshore internet bank account.
Corporations typically engage in offshore online banking when they contemplate one or any mix of the following purposes.

  • Cost containment (bank fees and charges)
  • Paying and receiving payments from vendors and customers in local jurisdictions
  • Asset protection strategies
  • International acquisitions and investments
  • Compensating local employees in an offshore jurisdiction
  • Political reasons – Stability and predictability
  • Establishing a local business presence
  • Again, this is not a comprehensive list of why companies engage in offshore online banking. There are several other reasons why a company may decide to establish an offshore bank account. The only true way to find out the best offshore bank for you, and whether your objectives will be met through offshore internet banking is by speaking to a professional who can walk you through the entire process.

Concluding Thoughts on Offshore Internet Banking
I gave you a ton of information to read and digest in this article. As you have read, offshore internet banking is used by several different constituencies for several different purposes with several different intentions.
There are some significant advantages that can be derived from opening an offshore bank account such as entering new global markets and some serious offshore tax planning. I obviously recommend opening an offshore bank account for the right reasons, with full compliance with laws and regulations. For those contemplating abusing the system, understand that bank secrecy is a weakening concept, and one that will continue to weaken over the years.
Countries are increasingly sharing information, some voluntarily and some while succumbing to pressure by more powerful nations such as the United States.