Sealbash Posted June 1, 2014 Share Posted June 1, 2014 Interesting! Do you pay income tax in Singapore? I do not pay income tax in singapore as I have no status other than tourist. Sent from my iPad using Thaivisa Connect Thailand Link to comment Share on other sites More sharing options...
Naam Posted June 1, 2014 Share Posted June 1, 2014 Interesting! Do you pay income tax in Singapore? I do not pay income tax in singapore as I have no status other than tourist. Sent from my iPad using Thaivisa Connect Thailand even residents or citizens don't pay income tax in Singapore on interest income and capital gains (effective jan 1, 2004). Link to comment Share on other sites More sharing options...
luk AJ Posted June 1, 2014 Share Posted June 1, 2014 So same HKK but more easy right? Link to comment Share on other sites More sharing options...
4dyg Posted June 1, 2014 Share Posted June 1, 2014 I wrote already to banks in singapore. they wrote me back that i need a student visa on a university ... etc. As a tourist they said its not possible. Maybe the wrong bank?no, singapore is the international banking and finance center where it is IMPOSSIBLE to open a bank account. cambo is an easier option. laos too. try a different branch if you get any balking in thailand. Link to comment Share on other sites More sharing options...
heybuz Posted June 1, 2014 Share Posted June 1, 2014 try vietnam,australian commonwealth bank has branch there Link to comment Share on other sites More sharing options...
Soutpeel Posted June 1, 2014 Share Posted June 1, 2014 I wrote already to banks in singapore. they wrote me back that i need a student visa on a university ... etc. As a tourist they said its not possible. Maybe the wrong bank? no, singapore is the international banking and finance center where it is IMPOSSIBLE to open a bank account. cambo is an easier option. laos too. try a different branch if you get any balking in thailand. Lets just clarify here: "Local" Singapore banks will typically not open an account if on is not a resident/working in Singapore However the large MNC' type banks, Citibank/HSBC etc. will if you meet their criteria Link to comment Share on other sites More sharing options...
Sealbash Posted June 1, 2014 Share Posted June 1, 2014 Fairly simple to go to Citibank singapore web site and check? Sent from my iPad using Thaivisa Connect Thailand Link to comment Share on other sites More sharing options...
Soutpeel Posted June 1, 2014 Share Posted June 1, 2014 Fairly simple to go to Citibank singapore web site and check? Sent from my iPad using Thaivisa Connect Thailand You want the Citibank International personal banking (IPB) section, not Citibank Singapore per se, there is another section for IPB on the Citi Sing website. Link to comment Share on other sites More sharing options...
totallyobnoxiousme Posted June 1, 2014 Share Posted June 1, 2014 I wrote already to banks in singapore. they wrote me back that i need a student visa on a university ... etc. As a tourist they said its not possible. Maybe the wrong bank? Stick it in my account I'll keep it safe for you Link to comment Share on other sites More sharing options...
JB300 Posted June 1, 2014 Share Posted June 1, 2014 (edited) Fairly simple to go to Citibank singapore web site and check? Sent from my iPad using Thaivisa Connect Thailand You want the Citibank International personal banking (IPB) section, not Citibank Singapore per se, there is another section for IPB on the Citi Sing website.And that's the difference ... It's not possible to open a "Normal" Citibank account in Singapore unless you have some firm of residential status (I believe this includes being a non-resident if you own property) but you can open an International Personal Banking account. FACTA is US citizens only & all countries need to observe it or face significant penalties from the US http://thunfinancial.com/fatca-foreign-account-tax-compliance-act-what-american-investors-need-to-know-now Edited June 1, 2014 by JB300 Link to comment Share on other sites More sharing options...
Soutpeel Posted June 1, 2014 Share Posted June 1, 2014 Fairly simple to go to Citibank singapore web site and check? Sent from my iPad using Thaivisa Connect Thailand You want the Citibank International personal banking (IPB) section, not Citibank Singapore per se, there is another section for IPB on the Citi Sing website. And that's the difference ... It's not possible to open a "Normal" Citibank account in Singapore unless you have some firm of residential status (I believe this includes being a non-resident if you own property) but you can open an International Personal Banking account. FACTA is US citizens only & all countries need to observe it or face significant penalties from the US http://thunfinancial.com/fatca-foreign-account-tax-compliance-act-what-american-investors-need-to-know-now But Citi IPB is based in Singapore is it not dear boy ?....and what is the difference between a "normal" Citibank account and an "abnormal" Citibank Singapore IPB account then ?....I have one, can get a mortgage off them, credit cards, investment accounts, etc etc.. 1 Link to comment Share on other sites More sharing options...
JB300 Posted June 1, 2014 Share Posted June 1, 2014 (edited) Fairly simple to go to Citibank singapore web site and check? Sent from my iPad using Thaivisa Connect Thailand You want the Citibank International personal banking (IPB) section, not Citibank Singapore per se, there is another section for IPB on the Citi Sing website.And that's the difference ... It's not possible to open a "Normal" Citibank account in Singapore unless you have some firm of residential status (I believe this includes being a non-resident if you own property) but you can open an International Personal Banking account. FACTA is US citizens only & all countries need to observe it or face significant penalties from the US http://thunfinancial.com/fatca-foreign-account-tax-compliance-act-what-american-investors-need-to-know-now But Citi IPB is based in Singapore is it not dear boy ?....and what is the difference between a "normal" Citibank account and an "abnormal" Citibank Singapore IPB account then ?....I have one, can get a mortgage off them, credit cards, investment accounts, etc etc..No idea old chap, but an IPB is what it says on the tin... An #International# Personal Bank Account so I'm assuming the charges / minimum requirements are different for one. IPB: http://www.ipb.citibank.com.sg/english/static/el_inaccount.htm?icid=IPBGNAGAENHOMEHB02 Edited June 1, 2014 by JB300 Link to comment Share on other sites More sharing options...
Sealbash Posted June 1, 2014 Share Posted June 1, 2014 Fairly simple to go to Citibank singapore web site and check? Sent from my iPad using Thaivisa Connect Thailand You want the Citibank International personal banking (IPB) section, not Citibank Singapore per se, there is another section for IPB on the Citi Sing website.And that's the difference ... It's not possible to open a "Normal" Citibank account in Singapore unless you have some firm of residential status (I believe this includes being a non-resident if you own property) but you can open an International Personal Banking account. FACTA is US citizens only & all countries need to observe it or face significant penalties from the US http://thunfinancial.com/fatca-foreign-account-tax-compliance-act-what-american-investors-need-to-know-now Some of us actually hold these bank accounts. I do not understand why you dispute what we say. And sometimes the reason for having the bank account is to avoid those inane USA Patriot Act banking laws. Sent from my iPad using Thaivisa Connect Thailand Link to comment Share on other sites More sharing options...
Soutpeel Posted June 1, 2014 Share Posted June 1, 2014 (edited) Fairly simple to go to Citibank singapore web site and check? Sent from my iPad using Thaivisa Connect Thailand You want the Citibank International personal banking (IPB) section, not Citibank Singapore per se, there is another section for IPB on the Citi Sing website. And that's the difference ... It's not possible to open a "Normal" Citibank account in Singapore unless you have some firm of residential status (I believe this includes being a non-resident if you own property) but you can open an International Personal Banking account. FACTA is US citizens only & all countries need to observe it or face significant penalties from the US http://thunfinancial.com/fatca-foreign-account-tax-compliance-act-what-american-investors-need-to-know-now Some of us actually hold these bank accounts. I do not understand why you dispute what we say. And sometimes the reason for having the bank account is to avoid those inane USA Patriot Act banking laws. Sent from my iPad using Thaivisa Connect Thailand Oh no...I am avoiding something far worse than the US patriot act banking laws.......a rather vindictive Ex-wife who is always looking for free handouts, even after she got the house car etc... Edited June 1, 2014 by Soutpeel 1 Link to comment Share on other sites More sharing options...
Naam Posted June 1, 2014 Share Posted June 1, 2014 I wrote already to banks in singapore. they wrote me back that i need a student visa on a university ... etc. As a tourist they said its not possible. Maybe the wrong bank? no, singapore is the international banking and finance center where it is IMPOSSIBLE to open a bank account. cambo is an easier option. laos too. try a different branch if you get any balking in thailand. it is not impossible to open an account in Singapore. but you need money, not peanuts! Link to comment Share on other sites More sharing options...
JB300 Posted June 1, 2014 Share Posted June 1, 2014 (edited) Nobody is disputing what you say, I've no doubt you have a Citibank IPB I was just pointing out to the OP that there's a difference so if he's rejected, he's asked for the wrong account. Lol... Having an account with one of the largest US banks is surely a way #not# to avoid those inane USA Patriot Act banking laws!!! But seriously, from reading about it I don't think any accounts (that you & I could afford) anywhere will be immune to FACTA. Edited June 1, 2014 by JB300 Link to comment Share on other sites More sharing options...
Sealbash Posted June 1, 2014 Share Posted June 1, 2014 Nobody is disputing what you say, I've no doubt you have a Citibank IPB I was just pointing out to the OP that there's a difference so if he's rejected, he's asked for the wrong account. Lol... Having an account with one of the largest US banks is surely a way #not# to avoid those inane USA Patriot Act banking laws!!! But seriously, from reading about it I don't think any accounts (that you & I could afford) anywhere will be immune to FACTA. I was previously with a bank in Guernsey. They began following the USA Patriot act concerning disclosure / amounts etc of international transfers. To my knowledge, Singapore banks follow Singapore banking laws, and are not yet regulated by the USA laws. Hence the easy movement of money international. Sure, someone is watching, but I do not have to jump through hoops to justify every transfer over a certain dollar value. Anyway, I am happy with the services and the charges. The account can be opened without ever setting foot in Singapore. Just trying to answer the OP's question using my own limited personal experience. When laws change, I guess I will need to rethink my choices. Sent from my iPad using Thaivisa Connect Thailand Link to comment Share on other sites More sharing options...
JB300 Posted June 1, 2014 Share Posted June 1, 2014 (edited) Nobody is disputing what you say, I've no doubt you have a Citibank IPB I was just pointing out to the OP that there's a difference so if he's rejected, he's asked for the wrong account. Lol... Having an account with one of the largest US banks is surely a way #not# to avoid those inane USA Patriot Act banking laws!!! But seriously, from reading about it I don't think any accounts (that you & I could afford) anywhere will be immune to FACTA.I was previously with a bank in Guernsey. They began following the USA Patriot act concerning disclosure / amounts etc of international transfers. To my knowledge, Singapore banks follow Singapore banking laws, and are not yet regulated by the USA laws. Hence the easy movement of money international. Sure, someone is watching, but I do not have to jump through hoops to justify every transfer over a certain dollar value. Anyway, I am happy with the services and the charges. The account can be opened without ever setting foot in Singapore. Just trying to answer the OP's question using my own limited personal experience. When laws change, I guess I will need to rethink my choices. Sent from my iPad using Thaivisa Connect ThailandSingapore is no longer a "Grey" country when it comes to reporting to the US/UK etc... and given the massive fines the US has dished out to banks like UBS/HSBC, I think you'd struggle to find a bank anywhere that doesn't tow the line nowadays. (Paragraph deleted as the Citibank International account seems to be a savings/brokerage account, not available to US Citizens so not the same International account people here have... Does anybody access it online and have a link?] Edited June 1, 2014 by JB300 Link to comment Share on other sites More sharing options...
Soutpeel Posted June 1, 2014 Share Posted June 1, 2014 Nobody is disputing what you say, I've no doubt you have a Citibank IPB I was just pointing out to the OP that there's a difference so if he's rejected, he's asked for the wrong account. Lol... Having an account with one of the largest US banks is surely a way #not# to avoid those inane USA Patriot Act banking laws!!! But seriously, from reading about it I don't think any accounts (that you & I could afford) anywhere will be immune to FACTA. surely you understand the concept that FACTA/Patriot banking act primarily only affects US citizens & green card holders...I am not a US citizen or green card holder...it doesn't affect me in the least. Citibank IPB will not let a US Citizen trying to open an account in Sing these days, unless your working in Sing and paying taxes there etc. I have a UK passport, and I am declared non-resident for tax, The UK tax man can go an whistle Dixie..in my case further I pay my tax in Thailand as well, as I work here Further Singapore does not "report" anything to the UK/US, however if the UK/US asks for information and I believe needs to gain a court order in Singapore the info can be released Link to comment Share on other sites More sharing options...
Soutpeel Posted June 1, 2014 Share Posted June 1, 2014 (Paragraph deleted as the Citibank International account seems to be a savings/brokerage account, not available to US Citizens so not the same International account people here have... Does anybody access it online and have a link?] Its not a savings/brokerage account...its a current account...I have one, under the umbrella of the current account you can have Savings, brokerage and Forex accounts all linked and yes on-line access is part of the deal.. The basic current account requires a minimum deposit of USD 25k Link to comment Share on other sites More sharing options...
falang07 Posted June 1, 2014 Share Posted June 1, 2014 Thailand will be signing on to FATCA.Im hearing all Asian countries will sign on.Best country maybe China.The last I had heard Hong Kong signing on also. a German citizen living in Thailand doesn't care about FATCA. but this can change anytime in the (I would say not so far) future... Link to comment Share on other sites More sharing options...
Soutpeel Posted June 1, 2014 Share Posted June 1, 2014 Thailand will be signing on to FATCA.Im hearing all Asian countries will sign on.Best country maybe China.The last I had heard Hong Kong signing on also. a German citizen living in Thailand doesn't care about FATCA. but this can change anytime in the (I would say not so far) future... why is the US planning on invading Germany or something ? I will affect US citizens living in Germany possible, but it will not affect a German living in Thailand You have understand just because the US enforces a law on its own citizens, it doesn't mean it applies to the rest of the worlds citizens as well 1 Link to comment Share on other sites More sharing options...
JB300 Posted June 1, 2014 Share Posted June 1, 2014 (edited) Nobody is disputing what you say, I've no doubt you have a Citibank IPB I was just pointing out to the OP that there's a difference so if he's rejected, he's asked for the wrong account. Lol... Having an account with one of the largest US banks is surely a way #not# to avoid those inane USA Patriot Act banking laws!!! But seriously, from reading about it I don't think any accounts (that you & I could afford) anywhere will be immune to FACTA. surely you understand the concept that FACTA/Patriot banking act primarily only affects US citizens & green card holders...I am not a US citizen or green card holder...it doesn't affect me in the least. Citibank IPB will not let a US Citizen trying to open an account in Sing these days, unless your working in Sing and paying taxes there etc. I have a UK passport, and I am declared non-resident for tax, The UK tax man can go an whistle Dixie..in my case further I pay my tax in Thailand as well, as I work here Further Singapore does not "report" anything to the UK/US, however if the UK/US asks for information and I believe needs to gain a court order in Singapore the info can be releasedYep, fully understand the reach of FACTA, that comment was in response to the poster who said they'd opened an account in SG to get away from the USA patriot laws (so I'm assuming they're American & FACTA will impact them). I'm also British & Non-UK resident for tax purposes but pay my taxes in Singapore (I work for one of the Global banks here) & the UK as appropriate (I.e. On income arising in the UK), hopefully that will change to living in Thailand & just paying tax in the UK by the end of the year (I've no intentions of working in Thailand, but will do some short consulting pieces in the UK & Africa). Oh & Singapore does provide the US & UK with data about their citizens who bank here, it's not Switzerland of the 90s (even Switzerland has to nowadays). Edited June 1, 2014 by JB300 Link to comment Share on other sites More sharing options...
tolsti Posted June 1, 2014 Share Posted June 1, 2014 I find it rather amusing that all these Americans are patriots, wave the flag and go hoooh haaaah etc.... until a law comes in that affects their income abroad and all of a sudden they are trying to hide from the Patriot Act..... must be shit being an American. Link to comment Share on other sites More sharing options...
JB300 Posted June 1, 2014 Share Posted June 1, 2014 (edited) (Paragraph deleted as the Citibank International account seems to be a savings/brokerage account, not available to US Citizens so not the same International account people here have... Does anybody access it online and have a link?] Its not a savings/brokerage account...its a current account...I have one, under the umbrella of the current account you can have Savings, brokerage and Forex accounts all linked and yes on-line access is part of the deal.. The basic current account requires a minimum deposit of USD 25k Do you access it online? Or have a URL for it? I'm very interested in this kind of account as I'd like to move to an International account (was looking at HSBC) when I leave Singapore, don't want to take the hit of moving all of the money to the UK only to have to move it again when I get settled. Edited June 1, 2014 by JB300 Link to comment Share on other sites More sharing options...
Naam Posted June 1, 2014 Share Posted June 1, 2014 Nobody is disputing what you say, I've no doubt you have a Citibank IPB I was just pointing out to the OP that there's a difference so if he's rejected, he's asked for the wrong account. Lol... Having an account with one of the largest US banks is surely a way #not# to avoid those inane USA Patriot Act banking laws!!! But seriously, from reading about it I don't think any accounts (that you & I could afford) anywhere will be immune to FACTA. surely you understand the concept that FACTA/Patriot banking act primarily only affects US citizens & green card holders...I am not a US citizen or green card holder...it doesn't affect me in the least. Citibank IPB will not let a US Citizen trying to open an account in Sing these days, unless your working in Sing and paying taxes there etc. I have a UK passport, and I am declared non-resident for tax, The UK tax man can go an whistle Dixie..in my case further I pay my tax in Thailand as well, as I work here Further Singapore does not "report" anything to the UK/US, however if the UK/US asks for information and I believe needs to gain a court order in Singapore the info can be released Yep, fully understand the reach of FACTA, that comment was in response to the poster who said they'd opened an account in SG to get away from the USA patriot laws (so I'm assuming they're American & FACTA will impact them). I'm also British & Non-UK resident for tax purposes but pay my taxes in Singapore (I work for one of the Global banks here) & the UK as appropriate (I.e. On income arising in the UK), hopefully that will change to living in Thailand & just paying tax in the UK by the end of the year (I've no intentions of working in Thailand, but will do some short consulting pieces in the UK & Africa). Oh & Singapore does provide the US & UK with data about their citizens who bank here, it's not Switzerland of the 90s (even Switzerland has to nowadays). you are a banker in a "global" bank and do not differntiate between FATCA and FACTA plus claiming that Singapore banks are providing data on UK citizens banking in Singapore? gimme a break man! Link to comment Share on other sites More sharing options...
Naam Posted June 1, 2014 Share Posted June 1, 2014 Thailand will be signing on to FATCA.Im hearing all Asian countries will sign on.Best country maybe China.The last I had heard Hong Kong signing on also. a German citizen living in Thailand doesn't care about FATCA. but this can change anytime in the (I would say not so far) future... why is the US planning on invading Germany or something ? I will affect US citizens living in Germany possible, but it will not affect a German living in Thailand You have understand just because the US enforces a law on its own citizens, it doesn't mean it applies to the rest of the worlds citizens as well Link to comment Share on other sites More sharing options...
JB300 Posted June 1, 2014 Share Posted June 1, 2014 (edited) Nobody is disputing what you say, I've no doubt you have a Citibank IPB I was just pointing out to the OP that there's a difference so if he's rejected, he's asked for the wrong account. Lol... Having an account with one of the largest US banks is surely a way #not# to avoid those inane USA Patriot Act banking laws!!! But seriously, from reading about it I don't think any accounts (that you & I could afford) anywhere will be immune to FACTA. surely you understand the concept that FACTA/Patriot banking act primarily only affects US citizens & green card holders...I am not a US citizen or green card holder...it doesn't affect me in the least. Citibank IPB will not let a US Citizen trying to open an account in Sing these days, unless your working in Sing and paying taxes there etc. I have a UK passport, and I am declared non-resident for tax, The UK tax man can go an whistle Dixie..in my case further I pay my tax in Thailand as well, as I work here Further Singapore does not "report" anything to the UK/US, however if the UK/US asks for information and I believe needs to gain a court order in Singapore the info can be releasedYep, fully understand the reach of FACTA, that comment was in response to the poster who said they'd opened an account in SG to get away from the USA patriot laws (so I'm assuming they're American & FACTA will impact them). I'm also British & Non-UK resident for tax purposes but pay my taxes in Singapore (I work for one of the Global banks here) & the UK as appropriate (I.e. On income arising in the UK), hopefully that will change to living in Thailand & just paying tax in the UK by the end of the year (I've no intentions of working in Thailand, but will do some short consulting pieces in the UK & Africa). Oh & Singapore does provide the US & UK with data about their citizens who bank here, it's not Switzerland of the 90s (even Switzerland has to nowadays). you are a banker in a "global" bank and do not differntiate between FATCA and FACTA plus claiming that Singapore banks are providing data on UK citizens banking in Singapore? gimme a break man! Who said I was a banker??? But as an IT Consultant I should be able to type better As i said, Singapore used to be considered a "Grey" country for reporting to international standards, but this is no longer the case hence there's a DTA between Singapore & the UK. Edited June 1, 2014 by JB300 Link to comment Share on other sites More sharing options...
JB300 Posted June 1, 2014 Share Posted June 1, 2014 (edited) Delete duplicate post... Should also be able to work this tab better, it really is time to retire... Edited June 1, 2014 by JB300 Link to comment Share on other sites More sharing options...
Soutpeel Posted June 1, 2014 Share Posted June 1, 2014 (Paragraph deleted as the Citibank International account seems to be a savings/brokerage account, not available to US Citizens so not the same International account people here have... Does anybody access it online and have a link?] Its not a savings/brokerage account...its a current account...I have one, under the umbrella of the current account you can have Savings, brokerage and Forex accounts all linked and yes on-line access is part of the deal.. The basic current account requires a minimum deposit of USD 25k Do you access it online? Or have a URL for it? I'm very interested in this kind of account as I'd like to move to an International account (was looking at HSBC) when I leave Singapore, don't want to take the hit of moving all of the money to the UK only to have to move it again when I get settled. Yeap on line...if you regular payments/transfers going out, getting it set up is a bit of a PIA, but they do have an internal secure email system you can use..simply a case of sending them the email...with your instruction and they do it, some times they will phone you directly and reconfirm the instruction (not always)....but once everything is set up you can manage all your dealings with them through your log in. customer services wise they are good, if there appears to be any "funny" activity on your account they are on the phone straight away to let you know and query the transaction, sometimes when I use my ATM in card in Thailand a lot, I do get phone calls off them, straight to the mobile, you just confirm the amount and the ATM you withdrew from...eg SCB ATM at XYZ etc.. They never hassle you with Sales people calling you to sell you XYZ "products"...if you ask for advice they will give it I was with HSBC for a long time and give up on them, they were hopeless.. Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
.thumb.png.76be522b3b43e7458166b9dac9e422ed.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now