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Government security on investment

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salmanucit
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Government security on investment

Postby salmanucit » Sun, 25 Mar 2012 12:28 pm

Hi,
I am planning to invest some money in a land banking company (www.profitonland.com). They say that the are government registered company and in case of any problem with the company (like bankruptcy), still our investment is save as tangible asset (land) will be taken by government) and by selling it, you will get your amount back. I just want to know that which government department i should contact which can confirm this claim by them so that i feel satisfied about my money if i do investment. Thanks

Salman

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JR8
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Re: Government security on investment

Postby JR8 » Sun, 25 Mar 2012 2:23 pm

Hi Salman, I had a look through that site. I can tell you are already having doubts, and I'm not surprised. Their 'About Us' page looks like the typical puff spewed up by a bad PR. The company is three years old, claims to have millions of clients, and yet only has $5m in assets. These millions of clients are serviced by their staff of 30 'Land Consultants' (i.e. sales people, just look at the job spec)? It doesn't add up.


salmanucit wrote:Hi,
I am planning to invest some money in a land banking company (www.profitonland.com).

Would you feel differently it is was called SpeculateOnLand.com?

They say that the are government registered company

They are set up as a Singapore registered company, as most businesses are. This does not suggest they are regulated by the government, there is no special protection from this.

and in case of any problem with the company (like bankruptcy), still our investment is save as tangible asset (land) will be taken by government) and by selling it, you will get your amount back.

So they're planning on going bankrupt are they? :) Companies like this make their profits by selling you a piece of land worth $1k for $10k. After that they don't give a stuff about what happens to it or you (apart from maybe whether they can get some more money out of you). Maybe bankruptcy administrators could sell the land but it would still only be worth $1k

I just want to know that which government department i should contact which can confirm this claim by them so that i feel satisfied about my money if i do investment. Thanks
Salman

You can't, because there isn't one.



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sundaymorningstaple
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Postby sundaymorningstaple » Sun, 25 Mar 2012 3:07 pm

^^^^ +1

salmanucit
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Postby salmanucit » Sun, 25 Mar 2012 6:28 pm

Thanks for the reply and helpful guide


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