If you have a bank account in a foreign country that has an interest rate of 15% is it possible to take in investors (or whatever you would call them) to place money INTO your foreign account? How would you do this? How would it legally be set up? Just to let the "INVESTORS" have access to the high interest rate while you collect fees for letting them invest?
2006-07-14 08:20:21 · 3 answers · asked by westphalia1 2 in Business & Finance ➔ Investing
High interest rate does not mean anything. Your bank account may pay you 15%, but the currency in which it is denominated can depreciate by 20% next year. Even if your account is denominated in U.S. dollars, the bank may go belly up and you will lose your money because there is no deposit insurance in the country in question.
You are asking the wrong questions. The right question to ask would be: what is the level of risk the bank is taking with my money?
2006-07-14 08:26:46 · answer #1 · answered by NC 7 · 0⤊ 0⤋
not only there are exchange rate concerns, there are restrictions in some countries for foreign investments. it is not that easy
2006-07-14 15:25:52 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would not put all of my money one place if your talking $1,000,000+ id share among stocks, banks, futures, CDs everything.
2006-07-14 08:27:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋