Offshore

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‘UK FATCA’ – the disclosure to HMRC of information about reportable accounts held by UK taxpayers in the Crown Dependencies and Overseas Territories

By |2015-04-14T17:10:11+01:00April 14th, 2015|Banking, Corporate banking, International, Offshore, Wealth management|

We are often been asked about the disclosure of information by the banks in UK islands and overseas territories about UK taxpayers accounts abroad.  There is already automatic information exchange in place regarding interest earned on the account in line with EUTSD (European Union Tax Savings Directive), however UK has implemented their own version of US [...]

How to Bank in Gibraltar

By |2019-08-28T11:46:50+01:00December 14th, 2014|Banking, Corporate banking, International, Offshore, Private banking, Savings|

Banking in GibraltarUpdated 28/08/2019 re changes in Banking, see in REDBanking is one of the major pillars of Gibraltar economy with total assets over EUR 7.8 billion and some of the major International banks have their offices in Gibraltar. Statistics are available here http://www.fsc.gi/aboutus/stats_ci.htmGibraltar culture and legal system are similar to the UK. Its legislation is [...]

Is offshore banking still relevant?

By |2014-11-11T11:35:35+01:00November 11th, 2014|Banking, Corporate banking, International, Offshore, Private banking, Savings, Wealth management|

Originally posted on http://worldoffshorebanks.com/is_offshore_banking_still_relevant.php It is definitely losing relevance for those who opened undeclared accounts "offshore" and now these are being exposed to tax info exchange between countries. Term offshore needs to be revised. I would say International banking will always be relevant for many reasons both for private individuals living international lifestyle, as well [...]

Countries unite in global tax evasion crackdown

By |2014-10-30T11:02:43+01:00October 30th, 2014|Banking, Corporate banking, International, Offshore, Wealth management|

Source: International Adviser More than 50 nations signed a new international standard for the automatic exchange of information today with the aim of reducing the global facilitation of tax evasion. The Multilateral Competent Authority Agreement commits its 51 members to the exchange of non-resident financial account information with tax authorities in an account holders’ country [...]

Honesty is the best policy when it comes to offshore bank accounts

By |2014-09-01T14:46:14+01:00September 1st, 2014|Banking, International, Offshore, Private banking, Wealth management|

Source: The Globe and Mail An offshore account may seem like an intimidating prospect, and one that could lead to trouble if it isn’t done right. But experts say that as long as you follow the appropriate reporting rules set out by the Canada Revenue Agency, offshore bank accounts can be a practical and, in [...]

47 countries sign the deal to clamp down bank secrecy

By |2014-07-11T10:59:41+01:00May 6th, 2014|Banking, Corporate banking, International, Offshore, Private banking, Savings, Wealth management|

Source: Reuters * Switzerland, Singapore agree to share bank information * OECD hails “end” of use of bank secrecy for tax evasion * 47 countries sign the deal, some will implement it from 2017 (Adds 2017 target, detail) By Leigh Thomas PARIS, May 6 (Reuters) – Switzerland and Singapore joined on Tuesday the growing ranks of [...]

Why bank internationally?

By |2014-07-16T10:52:07+01:00February 28th, 2014|Banking, International, Offshore, Payments, Private banking, Savings, Wealth management|

Using local banking is fine for the person who never leaves his home country, and when bank environment is stable,safe and modern. Usually people opt for banking outside of the home country if they do not feel their savings are safe (not stable banking system or economic situation) they are not happy with a local [...]