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Old 27-04-2006, 08:13 PM   #1
bel89
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Lightbulb Offshore banking for e-commerce

A “Type 1” bank is suitable for e-commerce and other international businesses.
www offshore-protection com/ bankAccountOpeningServices.html

I'm looking for a confidential banking with multi-currency accounts, offshore internet banking service and the major credit and debit cards with account access 365 days per year.

I discard banks in Panama since most Panama banks only offer banking options in USD, and is very difficult opening an account for non-residents.

I discard Cyprus since is sharing information with OECD.

Swtizerland always is very well recommend (for "Type 2" and "Type 1" banks). But i have seen that it is a OECD member, so i'm in dude about it:
www oecd org/ countrieslist/0,3025,en_33873108_33844430_1_1_1_1_1,00.html

The best option that i have seen is Latvia. I know that a lot of people are moving its money to Asia (Honh Kong, Singapur).

So my final classification for "Type 1" banks is (by preference order):

Latvia
Hong Kong

Could you give me any advice? or say me if my list is correct or I am wrong in something.
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Old 05-05-2006, 09:11 PM   #2
Globalart4u
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Default Re: Offshore banking for e-commerce

the inland revenue just won a case whereby one fo the banks will need to disclose ifnormation about their clients the link here is old news but the new one news article was in a recent ft paper in april this year
http://news.ft.com/cms/s/40760cb6-b5...0779e2340.html
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Old 14-05-2006, 05:11 PM   #3
e-stonia
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Default Re: Offshore banking for e-commerce

Estonia Ignoring IMF suggestions to rise taxes we have flat tax rate and 0% VAT in reinvestment.
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Old 14-05-2006, 07:24 PM   #4
Brian Turner
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Default Re: Offshore banking for e-commerce

More on offshore investors giving themselves up to the taxman:
http://news.ft.com/cms/s/71c4d044-e1...0779e2340.html
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Old 21-02-2007, 12:02 AM   #5
Paul Hirst
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Default Re: Offshore banking for e-commerce

http://www.butterfieldbank.ky/

Try these guys.....
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Old 21-02-2007, 09:56 AM   #6
UK Contract Centre
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Default Re: Offshore banking for e-commerce

We have heard rumours that if your ecommerce site has off shore banking, your not subject to uk corporation tax, is this a myth?...
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Old 21-02-2007, 11:15 AM   #7
monaghan
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Default Re: Offshore banking for e-commerce

If your company is UK regsitered, then you'll be liable wherever your bank is. You may also find that if you operate your overseas company from the UK that you may be deemed as a UK outfit for tax. I'd get proper advise from an accountant / business advisor with experience of doing this.
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Old 21-02-2007, 11:50 AM   #8
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Default Re: Offshore banking for e-commerce

Yeah i thought as much, its not something we are looking into, just a myth or rumour i have had trouble understanding, when people say ' yeah were getting away with our tax because of off shore banking etc...'

Thanks thou
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Old 21-02-2007, 12:08 PM   #9
monaghan
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Default Re: Offshore banking for e-commerce

I used to contract prior to IR35, many contractors were looking into offshore banking, but there's lots of restrictions such as the amount of time you can spend in the UK and so on.

Of course when you hear someone declare that they are getting away with a tax fiddle, you go straight to the inland revenue fraud site and report them
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Old 21-02-2007, 03:37 PM   #10
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Default Re: Offshore banking for e-commerce

oh yeah of course, its good to have these guys at the tax office on side for sure!
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