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ROSCAS or the (Republic of Scotannaea Community Assistance Scheme) is a financial project aimed at assisting investors in the country to get something back. It was first thought of in 2013 as a way to reward citizens for making contributions to the country whether they live there or not, this scheme provides a secure method of investment for wealthy citizens and a steady and stable increase of funds for not so wealthy citizens. This is seen as a capitalist organisation but it is a company which allows you to sponsor and donate time in exchange for physical cash.
The main concept is that you make a sponsorship which allows you to receive profits from government companies if their productivity is above the national average. This may seem bad at first, but you don't have to pay a single penny or do any paperwork, you just sit back and wait for the cash to come in from your citizenship's government.
What the ROSCAS does, is that it rewards companies for being productive in exchange for more profits for the company, and rewards sponsors with a higher income share. In any company which participates in the ROSCAS, when productivity is high, money will be brought back into the system faster and will lead to a higher profit for the company and sponsor. But if productivity is low, then money will be vital to the government's vault and will not just mean a lower profit for the company but will also mean a lower income for the sponsor. Payouts are every 6 months (June and December) and can be a lot higher if more time is donated, but you can only donate a certain amount of time in a week.
Variable Percentage Rate
In the beginning, 5% of the government vault's money was entirely stored for the ROSCAS. After every month, the payout rate got higher or lower due to how much productivity there was in a certain time period. A lower percentage means a lower income for your sponsorship and a higher percentage means a higher income for your sponsorship.
Here are the rates for each month:
|May 2014 - June 2014||5.0%|
|June 2014 - December 2014||TBA|
|December 2014 - June 2015||TBA|
Eligibility for Investment
Although this scheme has got some good offerings, There are some official requirements that you have to meet in order to be eligible to become a sponsor.
- You must have Scotan citizenship
- You need to have a verified PayPal account
- You must be based in an AMETA country
Once these requirements have been met, there is a short form that needs to be filled in by the applicant in order to be a sponsor. Once you have met the sponsorship criteria and filled in the application form, your application will be reviewed by a government official to see whether you are able to become a sponsor in ROSCAS or not.
When a sponsor is successful in becoming a sponsor in the ROSCAS, it is their duty to donate time (usually on a daily basis, and usually 10 minutes) to the ROSCAS in exchange for more productivity by companies which leads to more profits which goes to the government vault and goes to the ROSCAS.
The scheme plans to take place from the 8th May 2014, the same day as citizenship is introduced. when productivity is high, money will be brought back into the system faster and will lead to a higher profit for the company and sponsor. But if productivity is low, then money will be vital to the government's vault and will not just mean a lower profit for the company but will also mean a lower income for the sponsor.
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