Privacy Security

This is what it takes to be in the 1% of our world

Privacy and security are common terms used to refer to an ultra-high-net-worth individual (UHNWI). Privacy and security are related.

Privacy related to any rights people have to control their personal information and how it’s used. Security, on the other hand, refers to how their personal information is protected such as health records and all financial matters. Privacy protects a person from unnecessary interference. Sadly, most people today do not enjoy their privacy rights.

Being an UHNWI comes with its disadvantages. UHNWIs attract so much attention from the public, and such interest compromises their privacy. Violation of privacy brings about anxieties and threats to a person’s security. For this reason, UHNWIs have gone to great lengths to ensure they protect their privacy.

Why very wealthy individuals (must) invest in privacy security

Most UHNWIs are known for saving their money in foreign accounts. A popular belief is that these rich people hide their wealth and avoid heavy taxes. However, law-abiding UHNWIs know that being wealthy attracts people who will do anything to exploit their resources. These UHNWIs, therefore, find it wise to store a significant portion of their wealth in a different country. Foreign accounts provide secrecy and confidentiality of the wealth of an UHNWI that protect him/her from greedy opportunists.

To maintain privacy security, most UHNWIs invest in more homes. Having various estates helps them live a private life as they can settle in whichever place they feel secure and undisturbed. When UHNWIs are very famous people, it’s easy to trace where they live. An UHNWI with one home will hardly enjoy the privacy of his/her home as they will always receive unnecessary visits and scrutiny from the media, the public, stalkers, and even criminals who see a soft target in the UHNWI. Relatives of UHNWIs are kidnapped very frequently, for example. This kind of attention, and sometimes also of threat, can be very uncomfortable and can cause stress.

The personal information of an UHNWI such as his/her health records can be used against him/her and is therefore sensitive. Rich people have many rivals, enemies or people after their money. These people will use whichever weakness the wealthy person has to their advantage. It is for this reason that UHNWIs pay a great fortune to private clinics for treatment and checkups. These medical institutions not only provide high-end medical care but maximum patient confidentiality as well.

Private islands are popular spots for UHNWIs on vacation. Such places guarantee privacy and protection as they are away from the curious eyes of the public. They travel in private planes and own vacation homes where they can enjoy their holidays in private. These homes, islands, and planes cost a fortune but are necessary for ensuring that they enjoy their lives without too much attention, disturbance or insecurity.

UHNWIs also invest in expensive private schools where their children can learn and interact with other wealthy and celebrity kids without feeling out of place. Such schools are very secure and uphold the confidentiality of their students. These kids easily fit into such schools as they are treated as normal students and not as children of an UHNWI.

Total protection package

In conclusion, privacy security is more of a luxury for UHNWIs than a right. If you are strive for wealth and fame, be prepared to pay for your privacy security. If you are an UHNWI or you will soon become a very wealthy individual, Albert A. van Daalen Services (Alvadas) can facilitate your privacy security. If required, we can facilitate a total protection package (risk analysis, security systems, asset protection, and proactive management of threats, for example).

Asset Protection

Albert A. van Daalen Services (Alvadas) can facilitate asset protection. Asset protection consists of methods available to protect assets from liabilities elsewhere. It should not be confused with limiting liability, which concerns the ability to stop or constrain liability to the asset or activity from which it arises. The support includes protecting assets of corporations and their stakeholders from creditors and public registers.

An example of asset protection

A Dutch Caribbean Private Foundation, also known as a ‘Stichting Particulier Fonds’ (SPF) in Dutch, is a separate legal entity protecting assets and providing estate planning. While a Dutch foundation (‘stichting’) is originated as a structure for cultural and charitable purposes, the private foundation also hold assets for individuals and families abroad. Benefits: 1) Tax Free: As long as a private foundation does not engage in active businesses, all income is totally tax free. 2) Low Corporate Tax: Private foundations opting to engage in commercial activities are taxed at a reduced corporate tax rate of 10% for the first three years. 3) Asset Protection: The founder’s assets can be owned by the foundation. Beneficiaries are “economic owners”. 4) The founder and economic owners are not named in public records unless they pay taxes.

The Best Small Businesses to Start in a Recession

Yes, you can still start a small business during a recession. Some small businesses even thrive in a difficult economy. These businesses are called counter-cyclical or recession-proof businesses.

Starting any small business during a recession is a baptism by fire, but if you can survive, you will thrive as the economy recovers.

Bulk Food Sales

When economic times are tough, many people buy food in bulk. They buy large quantities of items like flour, sugar, laundry detergent and any other staple products they use on a long-term basis. A good idea for a small business is a bulk foods operation that services these bulk shoppers.

Affordable Luxury Items

Affordable luxury items seem like a contradiction, but they don’t have to be. During a recession, people tend to feel deprived. Starting a small retail operation that sells a mid-level luxury chocolate instead of a top-level luxury chocolate, for instance, might do very well. An ice cream shop that sells a cut-above regular ice cream, but in small quantities, might prosper. You could start a travel agency that specializes in affordable, yet luxurious or special vacations.

Debt Collection Agency

An obvious business to start during a recession is a debt collection agency since many people can’t afford payments on credit cards or other debt during a recession. To reduce your overhead costs, you can run this type of business out of your home.

Resume-Writing Services

During a recession, unemployment is high. Many people lose their jobs. Along with unemployment, underemployment (where people aren’t working up to their potential) is also rampant. Everyone is looking to polish up their resume. There is a demand for experienced resume writers, another business you can run out of your home.

Accounting Services

Who would guess that accounting services would prosper in a recession? Rich Walker, an executive with Intuit, once said in an interview that having an accountant as a close business advisor during uncertain economic times gave the small business more confidence in handling its financial affairs, particularly at tax time.

Auto Repair Services

Auto repair services grow by leaps and bounds during a recession. The last thing people want to do during a recession is to make a large purchase like a car. They try to keep their current cars running instead.

If you are an unemployed auto mechanic or if you are a business manager who wants to start an auto repair business, you’re in luck during a recession. It’s probably one of the best businesses you can start. Even when the recession is over, there is always a demand for auto mechanics.

Home Staging

Staging a home before you sell it has become a hot business. During a recession, it is especially difficult to sell a home.

A home stager is very important. Simply put, a home stager makes your house look good and appealing to possible buyers. They know what buyers want and how to make your home appeal to them. If you are an interior decorator, this is a recession-resistant business for you.

Virtual Assistant

It wasn’t that long ago that the job of Virtual Assistant simply didn’t exist. During a recession, this job tends to grow as companies may choose not to hire expensive support staff people on site. As a result, they have had to outsource many functions.

The Virtual Assistant may serve as an administrative assistant to executives, CEO’s, entrepreneurs, or entire businesses. The communication is done online and on the telephone. Virtual Assistants are cheaper and can be just as efficient for businesses as in-house assistants. The job is nearly recession-proof.

Tutoring Services

Tutoring services is another job that is virtually recession-proof. Many individuals go back to college when the job market is tight. As different sorts of jobs become available, such as jobs in green industries, tutoring services are going to be even more in demand. If you are a tutor, you can conduct your business online, in person, or both, which makes it very versatile. If your field is a popular field, then all the better as your services will be in high demand.

Food Truck

Would you like to start a business serving food but you feel like the entry costs of starting the business are too high? Consider a food truck. You don’t have the cost of buying a franchise or an existing sit-down restaurant. You may be able to find a used truck that you can spend a minimal amount fitting it to suit your needs. In the time of social distancing, your customers can order and eat at a comfortable distance from each other. If one location doesn’t suit you, you can drive to another one.

Handyman (or woman) Services

During a recession, people need repair services because they don’t usually have the money to buy new things. Maybe someone has a leaky roof that can be patched instead of the entire roof replaced. There are clogged sinks and clogged plumbing. Problems with appliances. Any number of small things that don’t require licensed professionals, at least not in the short-run. This is a business where there is almost no initial investment unless you need to add to your tool collection, and you can earn money fairly quickly.

By Rosemary Carlson

The corona virus, bad and damaging as it is, is going to force us to reconsider who we are and what we value

Every day, Covid-19 reaches a new and heartbreaking milestone in our lives. On the day I am writing this article, March 25th, the figures show that more than 426,000 cases of coronavirus and 19,000 deaths have been registered. This is a new virus, which is keeping us confined to our homes and refocusing our relationships on a national and international level, including among ourselves as individuals.

Every loss of a human being is a tragedy, and it obliges us to work hard to stop the spread of the virus and keep ourselves safe. There is no doubt that each and every country is fighting against this virus, although they do it in different ways, and encouraging the rest of the world to do the same, undoubtedly with a great deal of effort, because this is a task they have in common.

On the other hand, moments of crisis as serious as the one we are experiencing now present an opportunity to make use of technology, appreciate life, have faith and beliefs, be united and appreciate each other. Those who are battling coronavirus on the front line are neither recruits nor armed forces personnel; they are our doctors, nurses, pharmacists, teachers, carers, shop assistants, public service workers, owners of small businesses and employees… These people are risking their health and their lives for us, with true patriotism and dedication. We should value them and – above all – analyse whether we are investing enough in scientific research and, without any doubt, support them, as we are doing.

Our way of life is changing after being comfortable for a long time. Until now it was normal to touch things and breathe the air in an enclosed space with others; now we have to keep our distance… what we are facing today is a common enemy. It is a shared threat, that doesn’t distinguish between one person and another. That’s why this is the time to start promoting more constructive patterns in our cultural and political discourse.

The time for change is clearly maturing, to refocus politics, to make new and substantial investment in public assets, especially health and public services, to empower women, encourage scientific researchers and promote more values of tolerance and peace in our cultures. This virus, bad and damaging as it is, is going to force us to reconsider who we are and what we value, and it will also ‘help’ us to rediscover the best version of ourselves in order to achieve a more peaceful and stable world; in a way, it is driving the change, because it has already shown us the flaws in our medical attention systems, our research and academic systems, our systems of government, our security systems and our human relationships. We should rethink the use of technology to serve us in the most efficient way and facilitate our lives using virtual reality, augmented reality, telemedicine, nanotechnology and artificial intelligence.

An opportunity for tolerance and peace

I invite all of us to appreciate and support medicine, science, scientific research and human values, to encourage people to contribute to the economy and society and, fundamentally, to join forces to fight against this common enemy with faith, solidarity, tolerance, wisdom and human values. This is the right moment for there to be more defenders of tolerance and builders of peace.

By Ahmed Bin Mohamed Aljarwan in SUR in English

Note: The writer is president of the Global Council for Tolerance and Peace, an NGO based in Geneva, with its own International Parliament consisting of MPs from associated countries.

Joaquin Phoenix’s Oscars speech was a call for awareness

Joaquin Phoenix used his Best Actor win at the 2020 Oscars to continue his awards-season trend of putting sociopolitical issues in the spotlight. In a sprawling acceptance speech, he touched on social inequality, the cruelty of the food industry toward animals, systemic inequality, and even cancel culture. He closed out by quoting his late brother, River Phoenix.

Click here to watch his speech

The full transcript of Phoenix’s speech is below:

Hi. What’s up? Hi. God, I’m full of so much gratitude right now and I do not feel elevated above any of my fellow nominees or anyone in this room, because we share the same love, the love of film, and this form of expression has given me the most extraordinary life. I don’t know what I’d be without it.

But I think the greatest gift that it has given me, and many of us in this room, is the opportunity to use our voice for the voiceless. I’ve been thinking a lot about some of the distressing issues that we are facing collectively, and I think at times we feel or are made to feel that we champion different causes. But for me, I see commonality.

I think whether we’re talking about gender inequality or racism or queer rights or indigenous rights or animal rights, we’re talking about the fight against injustice — against the belief that one nation, one race, one gender or one species has the right to dominate, control, and use and exploit another with impunity.

I think that we’ve become very disconnected from the natural world and many of us, what we’re guilty of is an egocentric worldview — the belief that we’re the center of the universe. We go into the natural world and we plunder it for its resources. We feel entitled to artificially inseminate a cow, and when she gives birth, we steal her baby. Even though her cries of anguish are unmistakable. And then we take her milk that’s intended for her calf and we put it in our coffee and our cereal.

And I think we fear the idea of personal change because we think that we have to sacrifice something to give something up but human beings, at our best, are so inventive and creative and ingenious, and I think that when we use love and compassion as our guiding principles, we can create, develop, and implement systems of change that are beneficial to all sentient beings and to the environment.

Now, I have been — I’ve been a scoundrel in my life. I’ve been selfish, I’ve been cruel at times, hard to work with. And I’m grateful [to] so many of you in this room [who] have given me a second chance and I think that’s when we’re at our best, when we support each other, not when we cancel each other out for past mistakes, but when we help each other to grow, when we educate each other, when we guide each other toward redemption. That is the best of humanity.

I just — I want to — when he was 17, my brother wrote this lyric. He said, “Run to the rescue with love and peace will follow.” Thank you.