I am european and i live in Thailand. I can open an Account at Singapore at citi. How strong is the bank secret there?

Very.

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i read about a new oecd law. Is this also important for me as an european or does it not affect me cause i am european but living in thailand?

http://business.asiaone.com/news/switzerland-and-singapore-join-clampdown-bank-secrecy

Seems it wont be as "secret" as in the past. Depends on why you want secrecy, what secrets you have and who you dont want to find out about your secrets.

its very strong. the other day i stepped outside for just a minute and even then i got blasted by a whiff of it.

Strong. I went in there to find out what the balance was in my account and they wouldn't tell me.

Can you find a bank other than a Western bank? Western countries tend to work with each other for intelligence. It's not all about Singapore.

Strong. I went in there to find out what the balance was in my account and they wouldn't tell me.

Can you find a bank other than a Western bank? Western countries tend to work with each other for intelligence. It's not all about Singapore.

Can't even withdraw money from another bank's ATM. They don't even want to share that information.

OB

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i just here that in europe there will be no bank secrecy anymore and if you receive interests they will send the information of your bank account with name and interest receivement to the tax office where you are from.. And thats for me then not a bank secrecy anymore if anyone knows that you have a bank account.

Seems it wont be as "secret" as in the past. Depends on why you want secrecy, what secrets you have and who you dont want to find out about your secrets.

If he told you, it wouldn't be a secret.

no more banking secrecy in Singapore in 3-5 years time as far as tax evasion is concerned.

Not strictly accurate but for all intents Citi is a US bank, the US has bank account sharing agreements with the EU et al. So there are zero secrets in any bank affiliated to the US or EU.

Not strictly accurate but for all intents Citi is a US bank, the US has bank account sharing agreements with the EU et al. So there are zero secrets in any bank affiliated to the US or EU.

Not necessarily so. HSBC secure in Switzerland until an ex-employee stole account details.

Not strictly accurate but for all intents Citi is a US bank, the US has bank account sharing agreements with the EU et al. So there are zero secrets in any bank affiliated to the US or EU.

these agreements, based on OECD regulations, have not yet come into effect. there are also no individual agreements of banks with the "EU et al" but bilateral agreements between countries, most of them to be ratified within the next 3-5 years.

an exception are banks who have the status of "Qualified Intermediaries" which report and supply since years financial data of U.S. citizens and U.S. persons (there's a difference) to the IRS.

Not strictly accurate but for all intents Citi is a US bank, the US has bank account sharing agreements with the EU et al. So there are zero secrets in any bank affiliated to the US or EU.

Not necessarily so. HSBC secure in Switzerland until an ex-employee stole account details.

Everywhere is secure until the day it's not. Even if you found a bank that kept your info secret, the day would come when it was no longer secret. Then you might end up in jail. Just pay your taxes.

In 09 the Singapore Government signed a memo of understanding with the IMF and US that they would release bank details if asked, not many people know about this,this also applies to H.K. as they wanted to stop the off shore tax haven reputation they both had.

In 09 the Singapore Government signed a memo of understanding with the IMF and US that they would release bank details if asked, not many people know about this,this also applies to H.K. as they wanted to stop the off shore tax haven reputation they both had.

this information is incorrect. only recently (may 2014)

Singapore has concluded discussions on a tax information sharing agreement with the United States that aims to prevent tax evasion by US citizens, permanent residents and entities.

http://www.channelnewsasia.com/news/business/s-pore-us-reach-agreement/1096336.html

however, Singapore banks with the status "Qualified Intermediary" supply financial information of persons and corporations liable to pay U.S. income tax supply that information to the IRS since 2003.