Archive for category UK
Legal Offshore Bank Accounts That Keep Your Identity Secret
Posted by offshorebankaccounts in Asia, Europe, Switzerland, UK, US on September 16th, 2009
The offshore banking dream is persistent. When people think of offshore bank accounts they think of yachts, fast cars and perhaps a balmy tax have lifestyle to complement it.
Maybe it involves moving to another country entirely, life in a far land supported by a swiss bank account.
One of the hardest first steps is finding offshore banking that you can trust. But offshore bank accounts are made hard to find by design, and the primary stages during offshore account opening can be treacherous.
How many investors have trouble finding an offshore bank account that really keeps their information confidential?
The solution many look for is bank secrecy. What is often overlooked is that bank secrecy can change. While Switzerland or Panama may offer extreme secrecy one year, the next year their laws might change, or outside pressure could lead to relaxed secrecy. Other jurisdictions like the Cayman Islands or the Channel Islands seem safe and private, when their secrecy is actually dependent on the generosity of high tax nations like the UK and US.
Increasingly, alternatives are developing which allow private wire transfers and offshore banking irrespective of changes in bank secrecy - just how we imagined the secret Swiss bank account. If you acknowledge that bank secrecy in individual countries can change, the requirement then is a structure which holds strongg irrespective of financial privacy laws.
Trust companies can fulfill this need because they can accept client deposits without having to reveal individual identities to anyone. In this scenario the only way confidentiality can be broken is if a customer is convicted of a real, non-tax crime. Trust company confidentiality is totally independent of bank secrecy.
While not absolutely guaranteed, (trust company law can also change) opening an offshore account this way will give you greater peace of mind, and a refuge for your wealth in a secluded place. Your options from here on in are unlimited. Invest in tax-free stocks, commodities or interest-bearing term deposits. You can shield your most important assets from the threat of frivolous litigation and corrupt administrators.
Enticingly, you can buy gold offshore anonymously, as a secret store of wealth to hedge against inflation and financial crises that never seem to end. Your safe haven for wealth will let you conduct business free of foreign exchange controls, burdensome administrative procedures and heavy taxes.
While laws may change, your offshore options can continue to develop. Moving offshore is still within your reach!
Try alternative offshore banking with Capital Conservator. The most private offshore bank accounts, protected by more than bank secrecy. Accounts in over 10 different currencies with modest and sensible due diligence. Apply online today! Capital Conservator offshore banking.
Article Directory Source: http://www.articlerich.com/profile/Patrick-Winters/46429
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British Tribunal Orders Offshore Bank Account Details To Be Handed Over
Posted by offshorebankaccounts in Europe, UK on May 20th, 2009
HMRC is set to claw back up to £18m in evaded taxes after a tribunal ruled that offshore bank account details must be handed over by four banks.
Their case was based on evidence garnered during the 2007 amnesty in which some of these bank’s depositors confessed to evading taxes with their offshore bank accounts. On the basis of this evidence the tribunal was persuaded that a significant number of additional clients had yet to disclose the full extent of their offshore wealth.
It is expected however that HMRC hopes to find evidence of misdemeanors in only 1 in 20 accounts since many may belong to “non-doms” who are exempt from UK taxes on their overseas income, reports the financial times.
HMRC is widening its search to smaller banks and within the next four years hopes to extend its reach to 500 banks and building societies and to raise over £500m pounds.
It is thought that only banks with foreign branches are to be affected, although the ’scare factor” may encourage many more offshore account holders to disclose voluntarily.
“Safe” offshore accounts remain those held at small foreign banks without an international presence, located in countries without tax information exchange treaties.
British PM Brown Gives UK Tax Havens Sanctions Warning
Posted by offshorebankaccounts in UK on April 20th, 2009
UK Tax Havens have been warned by British PM Gordon Brown that they must adopt global standards for financial regulation or face sanctions. Central will be a clause that lets high-tax nations access offshore bank account information over tax-related matters.
Gibraltar, Anguilla, Bermuda, the British Virgin Islands, the Cayman Islands, Montserrat and the Turks and Caicos Islands were all placed on an OECD greylist, indicating that they have promised increased transparency but not yet followed pledges with action.
Mr Brown has set a November deadline for the jurisdictions to sign at least 12 bilateral tax information exchange agreements.
Some of these jurisdictions may feel aggrieved at their position, considering other famous tax haven dependencies such as the Jersey and Guernsey were placed on the OECD “white list”.
The call to action comes days before the publication of an interim report on the UK’s offshore tax havens, written by Michael Foot, a former Bank of England Director.
The interim report is due to be published Wednesday April 22nd.