Where to park your Money nowadays?
High street bank, online bank and offshore-offshore account: Stefan Neuss explains how WERA Capital Partners stores its money in uncertain times.
Conflicts in several regions, economic pressure in Europe and ever stricter banking rules: business owners face an uncertain world. Stefan Neuss, founder of WERA Capital Partners, asks a simple question: where should you keep your money today? He describes how his own firm manages its funds.
Account one: the high street bank
A local bank is still useful for everyday business, receiving and making payments. But WERA Capital Partners never keeps more than five figures there.
Account two: an online bank
The second account is with an online bank; the firm uses Revolut. Neuss values its speed and reliability. It also acts as a "ramp": money can be converted into cryptocurrencies, within daily, weekly and monthly limits, and then transferred to a cold wallet, an offline storage device such as a Ledger Nano X.
Account three: offshore-offshore banking
For owners with high seven to nine-figure businesses, Neuss recommends an offshore-offshore bank account as the third pillar. He highlights privacy, protection from third-party access and high limits for exchanging money and crypto assets. WERA Capital Partners uses these accounts as a ramp as well.
Control and compliance
Neuss's main argument is control. Banks and authorities can block accounts or freeze funds. By keeping only the minimum in bank accounts and storing part of its funds in stablecoins, cryptocurrencies linked to traditional currencies, in its own cold wallets, the firm aims to keep full control.
He also stresses that WERA Capital Partners declares everything within the law. It invoices clients, uses official HMRC exchange rates and pays its taxes, while receiving and making some payments in crypto.
Hard assets and mobility
Gold, silver and property also have a place, Neuss says, but owners should ask how much of their wealth sits in assets they cannot take with them. In an emergency, he says, what you need is "your phone, your passport, your laptop and your cold wallets".
Digital assets carry their own risks and every setup must fit the owner's tax situation. WERA Capital Partners explains its approach in a 15-minute private consultation.