Interested in Offshore banking

[Naam]

Quote

SOUTHERNSTAR said:

Whats your tax rate in the UK vs Thailand choose the lowest and use that tax number. The days of earning mainstream investment income without paying tax is near to an end. As I understand it the new tax cooperation will mean that all countries will share information about nationals earning income in other countries. This sharing of information will not be based on tax numbers but on nationality/passport numbers. 

nonsense from A to Z.

[userabcd]

14 minutes ago, Naam said:

nonsense from A to Z.

I have just had to fill in a self certification I received from an Insurance institution (with which I hold retirement annuities and life cover policies) They required all my personal info, residential/postal addresses, passport numbers, nationalities held, residency info and TAX ID numbers where I am supposed to be taxed according to the different countries residency rules. They have informed me that this information is being passed onto the tax authorities and will be shared with the country where I am currently residing.

[macahoom]

27 minutes ago, Naam said:

https://www.ipb.citibank.com.sg/english/forms/english/general/form.htm?&ecid=PSGODIPDBAENSC4&media=94d5d4c8-f652-1497936422&gclid=CjwKEAjw7J3KBRCxv93Q3KSukXQSJADzFzVS7SCnor_dW9zLm8AirtuIyyB32HVDhti3fm0UqCjStBoCo_jw_wcB

 

https://www.dbs.com.sg/index/default.page

 

 

 

As far as I know, DBS will not allow foreigners who do not reside in Singapore to open an account.

 

And Citibank’s time deposit interest rates are so low they are negligible: 0.1%  for SGD100,000, fixed for 12 months.

 

Try CIMB, Standard Chartered, UOB and OCBC.

[Naam]

42 minutes ago, userabcd said:

I have just had to fill in a self certification I received from an Insurance institution (with which I hold retirement annuities and life cover policies) They required all my personal info, residential/postal addresses, passport numbers, nationalities held, residency info and TAX ID numbers where I am supposed to be taxed according to the different countries residency rules. They have informed me that this information is being passed onto the tax authorities and will be shared with the country where I am currently residing.

that is correct. my reference "nonsense" refers to

Quote

This sharing of information will not be based on tax numbers but on nationality/passport numbers.

 

[Naam]

44 minutes ago, macahoom said:

 

As far as I know, DBS will not allow foreigners who do not reside in Singapore to open an account.

 

And Citibank’s time deposit interest rates are so low they are negligible: 0.1%  for SGD100,000, fixed for 12 months.

 

Try CIMB, Standard Chartered, UOB and OCBC.

Citi is the easiest, UOB has high fees if the account has no turnover, have no info on StanChart.

[macahoom]

42 minutes ago, Naam said:

Citi is the easiest, UOB has high fees if the account has no turnover, have no info on StanChart.

 

Citi may be the easiest. But their rates are a joke.

 

 In my experience, UOB has zero fees with a SGD14.00 balance in a savings account (for three years, unchanged) and SGD100,000 in a time deposit.

 

CIMB and Standard Chartered the same i.e. no minimum balance or activity required to avoid fees.

 

OCBC require a minimum balance in a savings account of SGD1000 to avoid fees.

[Crisu]

They have informed me that this information is being passed onto the tax authorities and will be shared with the country where I am currently residing.

But not with Thailand!

[Naam]

1 hour ago, Crisu said:

5 hours ago, userabcd said:

They have informed me that this information is being passed onto the tax authorities and will be shared with the country where I am currently residing.

But not with Thailand!

 

not yet.