Category: Offshore Banks
-
Stanford Financial: Black Clouds Ahead?
Financier Allen Stanford, the man famous for promoting grassroots cricket in the West Indies, finds himself in the spotlight once again – but this time the attention isn’t welcome. His Stanford Financial Group is facing a visit from regulators after doubts were raised over some of his best-selling financial products. Here’s an excerpt from a…
-
Offshore Credit Cards
Not long ago offshore investors were not able to obtain a credit card from an offshore institution. However, things have changed in recent years. Previously individuals with offshore accounts had to physically withdraw money from their offshore banks, or have money wired to them. Nowadays most offshore banks offer a variety of bank cards with…
-
Deutsche Bank Named Best Private Bank
Deutsche Bank has earned the accolade of the best private bank in Cayman in the prestigious Euromoney private banking survey 2007. The survey reflects the opinions of both advisers to private clients and other wealth management companies. The survey also takes into account a wide range of factors including assets under management, profitability, ratio of…
-
Exchange Traded Notes
NEW YORK, NY — (MARKET WIRE) — 12/21/06 — Barclays PLC announced that investments in iPath(SM) Exchange Traded Notes (iPath ETNs) surpassed $1 billion. The first two iPath ETNs were launched in early June, and the third in August. Exchange Traded Notes have a 30-year maturity and are senior, unsecured, unsubordinated debt securities issued by…
-
ABC banks, offshore banks and shell banks…
In the world of international finance you will hear a number of confusing terms to describe various kinds of banks. These include A banks, B banks, C Banks, offshore banks and shell banks. A shell bank is one which has no substantial presence, staff, or independent existence. These banks are often nothing more than a…
-
Offshore Bank Accounts
What are the benefits? If you live and work overseas, offshore banking could have tax benefits, i.e. interest on offshore accounts and investments is paid without the deduction of tax. Added benefits include high levels of confidentiality, security and convenience, as well as global access. Can I use the Internet to view my offshore accounts…
-
Offshore Havens ‘Declare War’ on Honest Taxpayers
By Paul Lashmar The US Senate has accused the Isle of Man, the Cayman Islands and other offshore havens of facilitating tax evasion that costs other countries billions of pounds every year. The accusations are made in a report by Carl Levin, chairman of the Senate Permanent Subcommittee on Investigations. He said: “I believe the…
-
Advent International Acquires Largest Bank in Uruguay
Buyout specialist Advent International has completed its $167 million acquisition of Nuevo Banco Comercial SA, the largest commercial bank in Uruguay. The deal was first announced in September and recently won approval from Uruguay’s central bank, the key financial services regulator in that country. Advent had originally predicted that the deal would close in December.…