2 thoughts on “Switzerland or Singapore for Private Offshore Banking?”

  1. These are well-reasoned approaches to very challenging times for offshore financial centres with the recent US and OECD crackdown on these jurisdictions. While we agree that Singapore is a good option for Asians and Australasians (to satisfy requirements such as language and similar time zone), may we suggest that Labuan is the better alternative as an international financial centre in the current times?

    Labuan has been affirmed as a “low-risk” jurisdiction for money laundering activities by The Asia-Pacific Group on Money Laundering and there are sufficient checks and controls to ensure businesses channeled through Labuan are of “substance” (i.e. real, not artificial), legitimate and clean.

    Labuan’s strategic location between China and India; sharing a common time zone with several other financial centres in Asia; having access to Malaysia’s 69 tax treaties & expertise in Islamic finance products; as well as working towards committing to the OECD’s white list by year end should recommended us on your list of low cost and tax friendly jurisdictions to be in. From an Asian perspective, the operational cost in Malaysia is lower than other offshore financial centres in the Asia Pacific region (approx 40% lower than HK and Singapore). The jurisdiction is also fast becoming a popular financial gateway to Europe and for Middle Eastern funds and investments.

    Being located in Asia – next door to Singapore and HK – armed with Islamic finance expertise and off US radar screens, Labuan could be the next jurisdiction of choice for potential investors. For more information on Labuan International Business and Financial Centre, visit http://www.labuanibfc.my

  2. Well, HongKong is under the protection of China, soon the worlds largest economy, Eurosocialists and US. imperialists will not have any power to influence politics, China and India does not tolerate any bulling from old coloniests.

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