Frequently Asked Questions and Answers

This Web page has been designed to showcase the most frequently asked questions (with answers provided). Questions not covered here can be sent to:question@altabank.com

Why Barbados?

There are many reasons for the choice of Barbados for ourselves and investors including that:

The country is a well established financial centre controlled by corporate law and a legal system modelled on that of the UK

Barbados possesses the second oldest parliament in the world.

The many established tax advantages include; no taxes on assets or capital gains; no withholding taxes on dividends, interest, management fees and royalties paid; low tax on profit and specific tax holdings and incentives.

The infrastructure, accessibility and telecommunications network are excellent.

The island is easily accessible by air and situated in a time zone consistent with other major financial centres.

What are the tax advantages?

The tax advantages of investing offshore are varied and depend on the product and structure employed relating to individual investment scenarios. For full details and consideration of the effect on your personal circumstances, consult with one of our Private Bankers.

Are there any other advantages?

Numerous reasons exist for investment offshore in addition to tax benefits. These include, among others, confidentiality, asset protection, diversification of investment and cost advantages.

How do I obtain more information on your services and your fees/commissions?

Contact our Private Banking Representatives in Barbados Via:
Telephone: (246) 425-4940
Facsimile: (246) 425-4944
email: question@altabank.com
Also, for an Explanatory Memorandum, product brochures or application forms (click here)

What are the minimums?

The minimum initial investment required for any of our Mutual Funds is USD $10,000.00.

Subsequent investments are subject to a minimum of USD $ 1000.00.

Minimum amounts for other products vary - full details can be obtained from our Private Bankers.

What currency do the Altamira Strategic Funds trade in?

Subscriptions into the Funds are contracted in U.S. dollars.

Investments made by the Funds are made in currencies consistent with the investment objectives of each particular Fund.

How can I be assured that the information I give the Bank will be kept confidential?

Your participation in our investment products does not require a public record to be registered with any Government or regulatory authority. All of our employees, as well as our custodians, are bound to secrecy and subject to severe penalties if breached.

What controls are in place to ensure the safety of my deposits?

All of your assets will be held with a reputable, familiar first class custodian. Regular verification audit and reconciliation of these assets will be performed.

What kind of reporting can I expect if I open an account with the Bank?

If you require, you will receive regular monthly, quarterly and annual reports detailing your transactions, investments and income. Our private Bankers will remain in frequent contact to suit your requirements.

How can I get money from my account?

Simply instruct one of our Private Bankers to make payment informing us of the amount and where the funds should be paid to. Instructions can be given by mail, fax or telephone.

Do I have to come to Barbados to open an account?

No. Just contact one of our Private Bankers by mail, fax or telephone for an application form, or fill in the details on the pro forma given in this website.

What are the business hours in Barbados?

Normal business hours are 8:00 a.m. to 5:00 p.m. Monday to Friday each week. Even so you may leave a message via voice mail or email at any time and one of our Private Bankers will contact you as soon as possible thereafter. Barbados is in the Eastern Standard Time zone - 3 1/2 hours south of Miami; 5 hours from New York and 2 hours from South America.