Offshore account
Thread Starter
Join Date: Jun 2005
Location: nowhere
Posts: 548
Likes: 0
Received 0 Likes
on
0 Posts
I have swissquote but i would like to have an offshore account not in the European union. Willing to move back to europe i would like to find an account where to transfer provvident and savings. Where i can reinvest, use atm and credit card without having to inform my country tax agencyy.......
Join Date: Oct 2007
Location: Location, Location
Posts: 743
Likes: 0
Received 0 Likes
on
0 Posts
I have swissquote but i would like to have an offshore account not in the European union. Willing to move back to europe i would like to find an account where to transfer provvident and savings. Where i can reinvest, use atm and credit card without having to inform my country tax agencyy.......
Failing that Standard Bank in the Isle of Man are very helpful although they'll require some proof of something from Emirates which is a pain in the backside. Of course I'm sure the Manager of fleet Management Managers, Fleet... could help you out.
Join Date: Jul 2007
Location: london
Posts: 5
Likes: 0
Received 0 Likes
on
0 Posts
Offshore
For anyone in the know.
If you're from the UK, working in the desert is there any advantage of having an offshore account when you are able to send as much money as you like back to the UK without paying any tax?
If you're from the UK, working in the desert is there any advantage of having an offshore account when you are able to send as much money as you like back to the UK without paying any tax?
Guest
Posts: n/a
For the UK/Isle of Man stuff… Be prepared to have to have heaps and mounds of stamps, signatures and even Notory stamps along with just a crazy amount of paperwork to submit to them. Why??? The US government!
I called Lloyds a few months back to inquire/open an account. I could literally not believe what all I had to do just to open the account. The guy I talked to sent me an email with all that I would be required to send him to open the account:
It was a page and a half email of things to do!! I quite literally would not have had the time to do all the chores associated with it between flying, the few days off we get of which some will be on a weekend when HQ is closed for business.
Just my experience with it all… .and I've been subsequently told that it's like this with all over "offshore" accounts due to US regulations.
Kap
I called Lloyds a few months back to inquire/open an account. I could literally not believe what all I had to do just to open the account. The guy I talked to sent me an email with all that I would be required to send him to open the account:
It was a page and a half email of things to do!! I quite literally would not have had the time to do all the chores associated with it between flying, the few days off we get of which some will be on a weekend when HQ is closed for business.
Just my experience with it all… .and I've been subsequently told that it's like this with all over "offshore" accounts due to US regulations.
Kap
Join Date: Jul 2000
Location: Just around the corner
Posts: 108
Likes: 0
Received 0 Likes
on
0 Posts
Much of the paperwork that needs to be filled in has questions about possible US taxpayer liability these days.
The tax free world is getting ever smaller and more difficult to comply with. Even working in the ME I am still receiving tax status letters from Santander IOM in which they say they may have to advise HMRC of my details etc.
Having completed the form I am now told they will be advising HMRC, therefore why waste our collective time with paperwork
The tax free world is getting ever smaller and more difficult to comply with. Even working in the ME I am still receiving tax status letters from Santander IOM in which they say they may have to advise HMRC of my details etc.
Having completed the form I am now told they will be advising HMRC, therefore why waste our collective time with paperwork
Join Date: Feb 2015
Location: Global
Posts: 96
Likes: 0
Received 0 Likes
on
0 Posts
I guess all this burocracy is just for American citizens then.
What about cayman? I was having a look there for the same reasons (I did not call yet) but looks like it is pretty easy to open an account even online.
What about cayman? I was having a look there for the same reasons (I did not call yet) but looks like it is pretty easy to open an account even online.
Guest
Posts: n/a
Southpole…
You'd think!!! But that would be wrong! I have a friend from the UK and he actually had to go thru the same nonsense with all the stamps and paperwork. Even though he's a UK citizen, putting money in a UK bank but it's an "offshore" account which means the US gets to meddle in it's affairs.
K
You'd think!!! But that would be wrong! I have a friend from the UK and he actually had to go thru the same nonsense with all the stamps and paperwork. Even though he's a UK citizen, putting money in a UK bank but it's an "offshore" account which means the US gets to meddle in it's affairs.
K
Join Date: Oct 2007
Location: Location, Location
Posts: 743
Likes: 0
Received 0 Likes
on
0 Posts
Southpole…
You'd think!!! But that would be wrong! I have a friend from the UK and he actually had to go thru the same nonsense with all the stamps and paperwork. Even though he's a UK citizen, putting money in a UK bank but it's an "offshore" account which means the US gets to meddle in it's affairs.
K
You'd think!!! But that would be wrong! I have a friend from the UK and he actually had to go thru the same nonsense with all the stamps and paperwork. Even though he's a UK citizen, putting money in a UK bank but it's an "offshore" account which means the US gets to meddle in it's affairs.
K
No minimum opening balance or any of that crap as you already have a HSBC account onshore.
Easy.
It takes a short while for the team in Jersey to verify who you are and then you get the certification done.
I think a deposit has to be made in the new account within 3 months of opening.
Join Date: Oct 2007
Location: Location, Location
Posts: 743
Likes: 0
Received 0 Likes
on
0 Posts
It's quite a quick process as they seem to want to keep their Premier customers happy.
