Archive for the ‘Offshore Investment’ Category

Investment experts nowadays advise investors to go global with their choice of the financial markets. In this case, the overseas real estate industry is one of the most dynamic as well as lucrative markets in which investors can play with their money. So, if you’re determined to invest in foreign property, then you’ll have to adjust your […]

People often associate offshore banking with shady activity and tax evasion. Many U.S residents believe it is illegal to have an offshore bank account, however, if you follow the rules it is completely permissible. Offshore banking is a complex procedure and if you don’t follow the regulations it can lead to you being investigated by […]

According to financial experts, for many expats opening an offshore account is something left until after they move. However, once expats have arrived in their new country they find themselves busy with settling in and opening an offshore account falls down the “to-do” list. This means savings stay in low return accounts, often with unnecessary tax […]

QROPS (Qualifying Recognised Overseas Pension Schemes) are set to undergo the most radical reforms since they were introduced in 2006. The changes, which come into effect on April 6th, will mean some existing schemes will not qualify for benefits. Tax on pensions is usually only levied in the country where the pension holder resides. Under […]

The UK tax office has set up an investigative task-force to track down expats who haven’t declared overseas property. The team will “mine” publicly available online information to discover people who own land or houses abroad. The UK tax authority (HMRC) has put together a team of 200 investigators. Their first task will be in […]

Guernsey is being unfairly targeted by UK taxmen and the press, claims Peter Niven, Chief Executive of Guernsey Finance. The Channel Island is fighting to preserve its QROPS business and reputation in the face of a new law intended to cut down on pension abuses. In a statement, Niven accused Her Majesty’s Revenue & Customs […]

The Channel Island of Guernsey has long been a popular destination for Qualified Recognized Overseas Pension Schemes (QROPS). But it stands to lose that status when new UK tax rules go into effect in April. QROPS were originally created to help expats transfer their pensions overseas without crippling tax charges. But Her Majesty’s Revenue and […]

The ever-changing nature of global tax and legislative environments has helped drive development in the international trust industry, with clients counting on trusts to transfer wealth between generations. Gone are the days of the one-size-fits all fund–today trusts can be bespoke (earmarked for a particular purpose), multi-jurisdictional and may also include professional protectors and guardians. […]

Yorkshire Building Society announced it will wind down the business of its offshore subsidiary, Yorkshire Guernsey Limited. The decision was made following a strategic review, which determined regulatory changes in the UK were negatively impacting Yorkshire Guernesy’s business. Iain Cornish, Yorkshire’s Chief Executive, said: Whilst our offshore operation has been very successful and a valuable […]

Skipton International Limited has launched a seventh edition of its popular 2-year fixed rate sterling account paying 3.25% gross/AER per annum. Accounts require a minimum deposit of GBP10,000 and all balances earn the same rate of return. The bond (which is being offered on a first-come, first-serve basis) will be withdrawn once it has reached […]

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