You are here: Shelter Offshore » Offshore Investment » Offshore Banking
Wednesday, October 08th, 2008
You are here: Shelter Offshore » Offshore Investment » Offshore Banking
Wednesday, October 08th, 2008
Grenada is an interesting offshore tax haven – it’s certainly famous as one of the most corrupt international financial centres in the history of offshore - but now, because the economy requires something of a boost as the nation has had to rebuild after two devastating hurricanes, the authorities in Grenada are said to be restructuring and positioning legislation for the re-emergence of the nation’s offshore banking sector.
However, has enough time lapsed between the catastrophic collapse of licensed yet corrupt banks for would-be investors to have any faith in jurisdiction, is there truth in the rumours that the nation wants to become a reputable tax haven and is Grenada’s offshore banking industry really re-emerging?
Read On...
With the global financial situation seemingly impacting each and every one of us, we thought we should impart some essential offshore banking advice for expats and would-be expats today.
For example, is the offshore world a shelter from the current fiscal turbulence and credit crunch, should you open an offshore bank account to avoid currency problems such as the falling dollar or the strengthening euro, and what advice should you take before you leave the UK and go and live abroad? All these questions and more are answered below…
Read On...
According to a London Stock Exchange report, Alliance and Leicester, which is a leading British onshore banking provider less well known for their offshore and international banking facilities and services, has commissioned an in depth survey of expatriate offshore banking behaviour so that they can understand their potential client-base better.
The survey reveals what we at Shelter Offshore really already suspected – although there is one rather surprising finding! So, let’s take a look at the expatriate offshore banking survey from Alliance and Leicester and see what they discovered about expat banking patterns and behaviour.
Read On...
From the first of January 2008 one of the leading players in the world of offshore private banking has changed its name from Coutts & Co to RBS Coutts…as you can guess, the name change has to do with the fact the RBS group now owns Coutts which is commonly referred to as ‘The Queen’s Bank’.
RBS acquired Coutts and Co when it took over NatWest back in 2000, but until now the bank has continued to trade under its original name by which it has been known since 1822. The significance of the name change is quite far reaching; many clients are believed to have been unhappy with RBS for even considering renaming this incredibly famous and historic offshore private banking institution.
Read On...
The partial taxation amnesty offered by HM Revenue and Customs (HMRC) last year to UK residents with undeclared offshore bank deposits and financial assets has proved relatively successful in terms of the taxation and fines raised. However, the amount paid into the Revenue’s coffers to date is actually far short of HMRC’s initial predictions.
According to the Sovereign Group, partly as a result of the fact that the amount of revenue received by HMRC is well below that expected, the British tax authorities are currently contemplating extending the partial reprieve to include customers of over 170 additional banking institutions - although they are likely to face opposition from the banks in question. There is a fine line between the banks’ requirement to supply information about account holders suspected of illegally avoiding taxation due and their legal duty to maintain their customers’ personal privacy. When it comes to offshore banking and HMRC however, the Revenue is not in the business of letting outstanding taxation slip through its fingers.
Read On...Copyright © 2004-2008 ShelterOffshore.com. All rights reserved. | About Us | Help and Contact Us | Privacy Policy | RSS 
| Site Index
Channels: Living Abroad | Property Abroad | Health Abroad | Offshore Investment | Gold Investment