Q EXPERTS' BLOG
The 2014 Practical Offshore Banking Guide
a note from Peter Macfarlane…
The 2014 edition of the Practical Offshore Banking Guide is now online in the Q Wealth Members Area.
This 2014 update of our regular annual guide, published since 2008, has been revised and expanded to include some dramatic changes such as the wide-ranging impact of FATCA. Special notes are included for US citizens affected by FATCA, and for EU citizens affected by the Savings Tax Directive and the Swiss Rubik Project.
As always, the emphasis is on the first word of the title: PRACTICAL.
This is the definitive manual on who you can contact, when and how – if you want to open a private or corporate offshore bank.
Detailed no-holds-barred reviews and contact information is included for more than 25 banks, brokerages and financial institutions. Peter tells you which to contact depending on the kind of account you need and what your banking requirements are.
Some highlights from this year’s Practical Offshore Banking Guide include:
* For the first time, we explain how to open a European Postal Bank account… logically enough, through the post! Postal bank accounts are ideal current accounts and their main business is serving locals. Since the Swiss postal bank stopped accepting non-residents a few years back, we had been hoping to find this and finally we did. Contacts included.
* Two different online stock/FX/CFD brokerages in different jurisictions, including the special steps whereby American citizens can open accounts, even though Americans who apply via the website are automatically declined. Offshore company accounts are also welcome.
* For the first time, we provide direct contact information on how you can open an account in Paraguay, even without having to travel there, though with the under-the-radar fiscal advantages Paraguay offers, you’ll probably want to. This enthusiastic English-speaking account executive can nor only help you or your offshore company access the high yields of the Paraguayan stock market, but as this institution is now part of a global banking and financial group you can now use Paraguay as a gateway to a global investment and banking portfolio. Your private banker in Paraguay awaits!
* The truth about banking in Singapore and whether it is really possible to open accounts remotely or not. Our boots on the ground contact is possibly the best connected man on the expat banking scene in Singapore and he is available to help Q Wealth readers. Similarly, our man in Hong Kong, a long-time expat based in Kowloon with a Chinese business partner, is ready to help readers wishing to open accounts in that region.
* Some of the best banks in the Caribbean: and we are almost certain these are ones you have not heard of before. We tell you which one offers great individualized private banking style service with a deposit as low as $5,000, and which ones offer the best online banking services for small business accounts.
* Direct contact info for opening offshore accounts in two of the biggest global banks.