Banking in Gibraltar Banking 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.htm Gibraltar culture and legal system are similar to the UK. Its legislation is based on English common law. The [...]
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 [...]
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 [...]
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 [...]
