Posts Tagged ‘offshore banking’
When someone is moving abroad to lower their taxes, there are a few European countries that they often look to. The obvious choices are the Isle of Man, the Channel Islands, Andorra or Monaco. Monaco has zero income tax, but while the lifestyle might be glamorous and the weather far better than the Isle of […]
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 […]
Finance firms based in Jersey were recently lauded by the Global Forum on Transparency and Exchange of Information for Tax Purposes, tasked with assessing how well the sector responded to international standards for tax information. Jersey has responded to 84 information requests to date, and was described by the forum as being “effective and expeditious” […]
Egyptian banks, including HSBC Egypt and Commercial International Bank (CIB) are being accused of helping the country’s military government crack down on activists. The Independent’s Alastair Beach wrote that, “[human rights groups and NGOs] which hold accounts with the global banking giant, say that over the past two months HSBC has contacted them requesting documents […]
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