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. […]
Tag Archive
MAXIMUM SENTENCE FOR BETONSPORTS FOUNDER GARY KAPLAN
Gary Kaplan, the founder of the offshore gambling firm BetOnSports, has been given the maximum prison sentence of 51 months for “conspiring” to break racketeering laws in the US, among other violations. Kaplan has been in jail since March 2007, and has already agreed to hand over around $44 million to US Authorities which... »
DUTCH PAY INFORMANT FOR SECRET BANK RECORDS
The secret offshore account details of hundreds of dutch citizens have fallen into government hands, after authorities received a tip-off from an informant. The Dutch government say they will offer the informant compensation, in a situation that mirrors a similar 2008 when the German authorities paid for confidential bank account details from a Liechtenstein... »
SINGAPORE TAKES STEP CLOSER TO ABOLISHING BANK SECRECY
Singapore moved a step close to opening up its famously strict bank secrecy laws when its parliament signed a bill Monday which allowing the island to adopt the OECD standard on tax information exchange. Earlier this year, Singapore was placed on a gray list by the OECD becaused it had not signed the required... »
UNPUBLISHED DOC ILLUSTRATES FURTHER BANK SECRECY PLANS
United States and EU officials have plans to give themselves greater access to each other´s secret banking databases – reports German newspaper Handelsblatt. An unpublished paper from the office of the EU President indicates that authorities aim to track terror payments more ruthlessly by sharing access to banking information, rather than through simple reveiws... »
BERMUDA, FRANCE SIGN TAX INFORMATION EXCHANGE AGREEMENT
Officials from Bermuda and France have announced a bilateral TIEA that will ensure full information exchange in civil and tax matters between the two parties. The agreement follows previous statements by French President Nicolas Sarkozy that ”tax havens” which do not follow article 26 of the OECD model tax convention should face sanctions. http://www.reuters.com/article/pressRelease/idUS131870+09-Oct-2009+BW20091009 »
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... »
PRIVATE BANKS HIT BY COST OF GREATER TRANSPARENCY
Private wealth managers have learnt to be more transparent the hard way, but new measures will increase the cost of operations, prompting further consolidation among private banks. A year after the collapse of Lehman Brothers, the combination of volatile markets, $65 billion madoff fraud, and the relaxation of bank secrecy rules have conspired to... »