"Q for Veritas: ZIM Negotiated Rate" - Anonymous Guest Post
Entry Submitted Anonymously at 10:16 PM EST on November 19, 2016
We are hearing these large 5 digit sovereign rates for the ZIM. However no one is addressing what those of us in tier 4 can expect to be able to ask for as a negotiated rate.
My question the Veritas is is there some range of rates that we can ponder and decide what we can ask for as a negotiated rate?
ONE OF THE BEST QUESTIONS TO DATE. REMEMBER, THERE IS A BASE RATE, A STRUCTURED RATE AND A PRIVATE NEGOTIATED OR SOVEREIGN RATE. NO ONE TALKS ABOUT THE STRUCTURED RATE MUCH. THAT BASE RATE DOESN'T REQUIRE AN NDA BUT THE STRUCTURED RATE FOR PROJECTS HAS A LESS RESTRICTIVE NDA THAN THE ONE FOR THE PRIVATE RATE WITH THE CLAW BACK. LET ME GIVE YOU A GENERIC EXAMPLE.
BASE RATE = $3.00
STRUCTURED RATE = $8.00
PRIVATE NEGOTIATED RATE = $1,000+
THAT'S TO GIVE YOU AN IDEA OF THE MIDDLE RATE. HIGHER THAN BASE BUT A LOT LESS THAN PRIVATE. HOWEVER, NO HASSLES. IT WILL HAVE AN NDA BUT WITHOUT THE TIGHT RESTRICTIONS, I BELIEVE. I AM JUST SHARING WITH YOU MY OWN UNDERSTANDING.
THIS IS SOMETHING YOU WILL NEED TO ASK AT YOUR MEETING SO THAT YOU CAN SEE WHAT THEY ARE OFFERING. IF YOU SAY "ZIM" AND PRIVATE, YOU WILL END UP TALKING TO A DIFFERENT GROUP. EXPLORE BASE AND STRUCTURED FIRST SO THAT YOU CAN DECIDE IF THAT IS ENOUGH FOR YOU. IN THIS CASE, YOU WILL STILL HAVE THE 80/20 RULE, 80% FOR PROJECTS, 20% FOR PERSONAL. YOUR PERSONAL PORTION WILL BE TAX FREE. THE PAYMENT PORTION WILL BE CAPITAL GAINS TAXED UNTIL CHANGED.
"Q for Veritas: WF in the UK?" - Guest Post by Anna
Entry Submitted by Anna at 7:11 AM EST on November 19, 2016
I live in the UK, actually Scotland. As far as i can see there is just one branch of Wells Fargo in the UK and it is in London. Could you please advise which bank in the UK is secure enough to place the funds in? Also should i open an account in such bank before my redemption appointment? Or perhaps an account or trust fund will be set up at the time of the appointment? I’m sure there is something obvious that i am missing, but i am quite new to all this and a little bit confused… Will we have an access to the funds straigh away?
Can you please sum up all the important things people like me should know?
Many thanks and lots of love!
HI, ANNA. I CAN CERTAINLY UNDERSTAND YOUR QUESTION. YOU WILL BE ABLE TO EXCHANGE AT A VARIETY OF BANKS IN YOUR AREA. WHEN YOU CALL FOR YOUR EXCHANGE THEY WILL ADVISE YOU WHAT IS AVAILABLE BUT I THINK A SAFE BET TO FIGURE ONE OF THE THREE STANDARD ONES, BANK OF ENGLAND, OR PERHAPS LLOYDS OR BARCLAYS. I'M NOT CERTAIN BUT THEY WILL BE ABLE TO ADVISE YOU. YOU MAY WANT TO SET UP AN ACCOUNT IN ONE OF THESE MAIN BANKS AHEAD SO THAT YOU CAN SAY YOU ARE A CLIENT BUT I DON'T THINK IT IS REQUIRED. YOU CAN USE THEIR TRUST WITHOUT A PROBLEM. THE QUESTION IS IF YOU WANT TO USE YOUR OWN. IN THAT CASE, TAKE IN YOUR TRUST PAPERWORK AND SEE IF IT QUALIFIES TO HOLD THE FUNDS.
MY UNDERSTANDING IS THAT YOU WILL LEAVE THE MEETING WITH A CARD THAT ALLOWS ACCESS RIGHT AWAY. YOU CAN ALSO ASK FOR A SMALL AMOUNT TO TAKE WITH YOU. IN THE U.S. WE TALK ABOUT UNDER $10,000. I HAVE ALSO HEARD THAT YOU CAN TAKE IN A SMALL LIST OF TWO OR THREE INDIVIDUALS OR COMPANIES TO TRANSFER A LARGER AMOUNT TO. AGAIN, GO PREPARED BUT ALSO ASK QUESTIONS WHEN YOU ARE THERE. THEY ARE READY FOR YOU.
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