Offshore bank

Things You Should Know Before Opening An Offshore Bank Account Opening an offshore account is not just for the super rich. There are plenty of legitimate, legal, honest and good reasons why you should open an offshore bank account yourself. Before you open your account, read this article about the ten things you should know before opening an offshore account. Throughout this article, you will see the acronym “FBAR” used quite a bit. It is a Report of Foreign Bank and Financial Accounts (FBAR). You will

2016 INTRODUCTION: The Panama Papers is one of the biggest leaks and largest collaborative investigations in journalism history. It reveals the secretive offshore companies used to hide wealth, evade taxes and commit fraud by the world 's dictators, business tycoons and criminals. Panama Papers are documents obtained from a Panama-based offshore services provider called Mossack Fonseca. The documents were received by the German newspaper Süddeutsche Zeitung and shared by the International Consortium

The Panamanian law firm has long been a well recognition across the global elite society, and the Mossack Fonseca is not also confined in its households, a huge team of hundreds of journalists . Are poring over the documents in International Consortium of Investigative Journalists and disclosed a massive 2.6-terabyte leak of confidential papers that they are calling the Panama Papers (Aljazeera.com, 2016). The firm drives its operations diversely and internationally in scope, but they are famous

and Yemen are known for their unending wars, the UAE enjoys a peaceful and politically tranquil environment that enables businesses to thrive. Besides, the country is home to top banking institutions such as HSBC, Standard Chartered and First Gulf Bank, so you won’t have to look elsewhere for banking solutions and financial assistance. Roads, ports, railways, telecommunication lines and other pieces of infrastructure are extremely advanced, making it ideal for diverse businesses. 2. What is the UAE

WealthBar Appoints Howard Atkinson to Advisory Board Vancouver, BC, Aug. XX, 2015—WealthBar, Canada’s only full-service online financial advisor, announced today the appointment of Howard J. Atkinson to its Board of Advisors. The appointment increases the board to five, including notable investors John Nicola, Lance Tracey, Paul Geyer and Bernd Petak. "We are pleased and excited to welcome such a notable figure in the investment industry to our board," said Tea Nicola, Co-Founder of WealthBar. "Mr

For instance, Credit Suisse is a Swiss bank that pleaded guilty of aiding tax evasion, and accepted to pay $2.6 billion to the U.S Justice Department in order to settle the case, reported the Wall Street Journal (WSJ) on the article “Credit Suisse Pleads Guilty in Criminal Tax Case.” According

1. Introduction Tax professionals have to adhere to the rules set by the Code of Conduct, SSTS and other regulations. In order to perform their job appropriately they have to be honest, objective, and remain conflict free while working with clients. The tax professional assists their client as a guide, but the ultimate responsibility of accuracy relies on the taxpayer. The taxpayer or tax paying entity uses their tax preparer for guidance since they are aware of tax rules and regulations. The

no taxes in place for BVI offshore companies who do no commerce in the jurisdiction. International business companies will disburse zero taxes on the profits, interests, dividends and other types of incomes earned exterior of the jurisdiction. For this motive the BVI can be regarded as a unadulterated offshore tax haven. BVI offshore corporations shell out no corporate tax, capital gains tax, estate tax, withholding tax and income tax. The merely money that an offshore company pays in the BVI is

Foreign Account Tax Compliance Act (FATCA) the end of the tax heavens and the Banking Secrecy, International cooperation or coercion? The offshore tax evasion is a problem that most countries face mainly because there are many structures that help sophisticated investors to avoid the payment of those taxes. After the 2008 global financial crisis, the United States was going through one of the most severe recession, the tax evasion crisis and the growing budget deficit was at it highest point, in

Reporting: Tax Evasion Tax havens are sometimes called tax shelters, secrecy jurisdictions, international financial centers, or simply offshores. They are the locations of a growing shadow economy of unregulated global capital (Global Financial Integrity, 2015). As defined by the Canada Revenue Agency (CRA), tax havens are jurisdictions with no or very low rates of tax, strict banking secret provisions, lack of transparency and efficient exchange of information with other countries (Global Financial