Latest Offshore Banking Articles
- Offshore Asset Protection Secrets They Don't Want You to KnowFor every moderately affluent person there comes the time to start thinking about the future: namely asset protection and preparing for the worst. Although we can all hope for the best, life shows us that those who are prepared win time and time again. Its not just the incredibly rich who have to think about these things, these days it's anyone who ac […]
- 5 Offshore Credit Card Mistakes to AvoidEveryone knows how hard it is to get a functional offshore credit card that's also half-way private. It's not your fault. […]
- Can Singapore Private Banking Replace Swiss Private Banks?Singapore private banking has grown massively over the past decade. Assets under management at Singapore private banks have grown to around 300Bn, 6 times what they were 10 years ago. It is estimated that Singapore manages around 5% of the world's private wealth, while Swiss private banking manages around a quarter. […]
- Are Private Offshore Banks More Secretive?Part of the reason why private offshore banks are called "private" is their reputation for secrecy. People expect private offshore banks in a country like Switzerland or Panama to keep confidential account records an issue between banker and client. […]
- Offshore Bank Accounts - Easy Introduction For First-TimersBond villains, corrupt dictators and even Bono can lay claim to offshore bank accounts. But what about the rest of us? Does anyone really need an offshore bank account, and how much money do you need to make it worthwhile? […]
- Montevideo Apartment Rental - Easy Introduction For First-TimersMontevideo is blessed with a plethora of apartments that will seem affordable to the US or European tourist. In other cities, you may have to settle for something out of town. In Montevideo, which is a living, working city - you can literally wake up and have sand at your feet. […]
Offshore Banking
TAX CRACKDOWN UNEARTHS OFFSHORE BANK ACCOUNT SECRETS
A six month amnesty programme for offshore account holders renewed last month has recived over 3000 applications, according to the IRS. The tax amnesty offers those with undisclosed offshore accounts the chance to escape heavier fines and criminal prosecution, in return for a full confession and full payment of back-taxes with interest. Many of... »
UK TAXMAN ATTEMPTS TO CLARIFY AMNESTY ISSUES
UK chief taxman Dave Hartnett has tried to clear up the confusion for offshore account holders who try to disclose through the Liechtenstien Disclosure Facility (LDF) rather than through HMRC’s own New Disclosure Opportunity (NDO). Financial advisors were alledgedly encouraging ”confused” offshore investors to use the LDF, said the HMRC permananent secretary for tax. http://www.accountancyage.com/accountancyage/news/2251146/taxman-speaks-amnesty-confusion »
Citigroup fined for offshore tax avoidance deals
The Financial Industry Regulatory Authority, the broker’s regulator, will slap a $600,000 fine on Citigroup for derivatives deals that were designed in part to help offshore clients avoid taxes on dividend payments. It is thought that this action could forsee further measures against Wall Street banks that made similar transactions, as part of a... »
BAE TO BE PROSECUTED OVER SECRET OFFSHORE BANK ACCOUNTS
Six years after the arms company’s network of secret offshore slush funds was first disclosed, the first wheels are in motion leading to a prosecution against BAE Systems, the military aircraft manufacturer. With the help of Lloyds Bank, BAE’s Red Diamond entity secretly kited payments of hundreds of millions of... »
TRUSTEE ORDERS FREEZE ON ACCOUNTS OF FORMER MADOFF CLIENT
The trustee for Madoff’s gigantic ponzi scheme, Irving Picard, has asked courts for an immediate freeze of assets related to Stanley Chais, a former Madoff client. The move comes after Mr. Chais, seeking access to his funds, accused Mr. Picard of attempting to seize his assets before proving in court that he had... »
IRS DEDICATES ELITE SQUAD TO UBS ACCOUNTS
The UBS offshore bank accounts which US authorities suspect conceal billions of dollars in black money are to be handled by an elite squad of bean counters with the expertise to take them on. A new office within the large and mid size business division will monitor the global transactions of super-affluent US citizens. This... »
ANOTHER UBS CLIENT CONFESSES IN TAX EVASION CASE
The IRS crackdwon on secret offshore bank accounts netted its 6th victim monday as a retiree from the Seattle area pleaded guilty to filing a false tax return Monday. Retired boeing sales manages Robert Cittadini confessed to having concealed almost $2 million in Swiss accounts, court records say. http://www.usatoday.com/money/perfi/taxes/2009-10-05-ubs-tax-evasion-case_N.htm »