Asset Protection
How to Open an Offshore Bank Account in Singapore
Welcome back to International Arbitrage!Is Singapore the best offshore banking country for the new decade?
One of the world’s most prosperous countries, Singapore today boasts a prominent financial centre and highly developed economy. Its flexible regulatory framework, independent judiciary and practical English-inspired legal system have become the foundations of the country’s success.
In common with most offshore [...]
Interesting New Low Tax Havens in the Dutch Caribbean
One offshore low tax zone we don’t hear much about is the Netherlands Antilles, a group of islands in the Caribbean that were colonised by the Dutch. However, they have long served as an attractive offshore base for European and other multi-nationals, as well as quite a number of offshore banks including First Caribbean International [...]
More Good Reasons Than Ever to Go Offshore
From Q Bytes, the blog of the Q Wealth Report:
While the days of James Bond-style numbered Swiss bank accounts may be over, the world of discreet private banking and offshore wealth management is growing apace as financial uncertainty continues to make people seek safe havens.
Despite highly-publicized government crackdowns on tax evasion around the world during [...]
Multi-Currency Bank Accounts as a Dollar Devaluation Hedge
Peter Macfarlane explains the importance of multi-currency accounts in a recent post at Q Wealth:
As I’ve frequently stated, the problem with conventional asset protection is that it frequently focuses on preserving the numbers in your offshore bank account. What I mean by this, is that if you have a million dollars, your traditional asset protection [...]
Australia Hops on Tax Amnesty Bandwagon
Australia has become the latest nation to set up a tax amnesty scheme to encourage recalcitrant taxpayers to come clean on their offshore holdings. From the Sydney Morning Herald:
Individuals and companies who fear that their offshore tax arrangements may spark a criminal investigation have been offered an amnesty by the Australian Tax Office.
This precedes [...]
UK, Australia Seek UBS Data After US Tax Case
Zurich (Reuters) Authorities in Britain and Australia have requested information from UBS after the Swiss bank agreed in August to disclose some 4,450 client names to settle a U.S. tax case, the bank confirmed on Sunday.
UBS said in a note to its third-quarter financial statement, published last week, that tax and regulatory authorities [...]
7,500 Americans Reveal Offshore Holdings, IRS Opening Offices in Beijing, Panama City and Sydney to Find More
The U.S. Internal Revenue Service said it is expanding its search for Americans with undeclared offshore bank accounts, using information from 7,500 people, including customers of UBS AG, who have applied for leniency.
IRS Commissioner Doug Shulman told reporters Wednesday that those who have come forward disclosed accounts ranging from $10,000 to $100 million since [...]
Puerto Rico to Host Offshore Conference
The offshore industry’s big hitters will all be in attendance at a prestigious conference held in Puerto Rico next month.
The 16th World Offshore Convention, which will be hosted by Offshore Investment at the El San Juan Hotel in San Juan on November 18 and 19 and is entitled ‘Offshore Finance: An Industry at the [...]
Offshore Tax Bill Sought as Health Bill Add-On
A prominent Democrat will offer a controversial bill to target tax evasion by U.S. citizens and corporations to the main healthcare reform legislation in the Senate, an aide said on Wednesday.
Democrat Senator Carl Levin will offer his Stop Tax Haven Abuse Act as an amendment to the Senate Finance Committee’s healthcare bill when it reaches [...]
Sixth UBS Client Steps Forward in IRS Crackdown
A retired Boeing sales manager from the Seattle area became the sixth client of Swiss banking giant UBS to face criminal charges in this year’s federal crackdown on secret offshore bank accounts as he pleaded guilty Monday to filing a false tax return.
Roberto Cittadini admitted he hid nearly $2 million in Swiss accounts, according to [...]