The PAYMASTER is a service that Pro Law offer Corporate Clients and Natural Persons, whether existing or new incoming Clients. Pro Law offer SWIFT as well as, uniquely, KTT Paymaster services.
Most other Paymaster services consist of a service set up using their existing Bank at their place of business abode, where that organisation already has tax reporting obligations at that jurisdiction, and this could possibly bring your pay mastered funds into that muddle.
Our unique Paymaster service is legitimately set up offshore many miles away at a Tax-Friendly nation. Pro Laws’ Paymaster Clients say that our paymaster scale of charges is very competitive and economical, with paymaster account statements issued every month. These charges are especially pertinent when considering the monies are held in a tax-exempt scenario.
SWIFT PAYMASTER
The majority of countries run on the SWIFT payment system which is a US based funds transfer facility which the US government have a great deal of influence over. With a SWIFT Transfer, monies have to be in the Sending account before the can be sent to the Receiving account. The funds are transferred via the Central Bank controls of both countries from one account to the other.
For the majority of transactions undertaken these are of low value or within established ranges. For high value transactions, these require different treatment. Should an individual who normally has say $10 to $20 thousand dollars – and probably less – moving in and out of that account per month suddenly receive several hundred thousand let alone millions, it is highly likely that the account would be suspended pending investigation. This can take months to resolve.
A Paymaster facility answers that problem because Paymasters can accept very large and legitimate transaction values without the resulting account suspension and investigation. Consequently, any person or company in Commodity Trading, Private Placement Platforms, have to move funds to a safe location, significant private asset sales or other high net worth activities may wish to consider using a Paymaster.
KTT PAYMASTER
Many countries including China, Russia and many of the nations in Africa still use the KTT money transfer system. In addition there are a number of Heritage or Legacy funds that are in KTT Bank Accounts that are "stuck" in time. The majority of these account holders are looking for a legitimate but confidential way to bring these funds onto the SWIFT system.
What is KTT?
KTT is a very old system used everywhere back in the 1960s and 1970s. If X wanted to transfer money to Y, X would go to the bank and provide instructions to his bank to make said transfer. Unlike today via SWIFT, the bank would transfer nothing. All they would do is send a telegram and the receiving bank would credit the account of the receiver on the promise of the sending bank that they will honour it.
Pro Law's Solution
Pro Law offer a Paymaster facility bound by a code of ethics and Attorney Regulations which allows the funds to be remitted to a Client Trust Account in a tax friendly jurisdiction. Once they have been received they are fully SWIFT compliant. In addition the Client is protected by Attorney Client Privilege.
TECHNICAL DATA
KTT Paymaster Account can accept all types of KTT transactions including KTT Analog, MT199, MT103, MT202, MT910, and MT940