The reaction of the German banks mentioned in the “Panama scandal”
The day after the announcement of the "secret" documents of the Panamanian law firm Mossack Fonseca in the German newspaper "Munich" a statement by the German government appeared. This statement…

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Good reason to open a foreign bank account
The litigation that is currently unfolding between the Federal Tax Service and Sberbank may be a significant precedent that will affect the entire banking sector in Russia. The FTS accuses…

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Know your customer: this is why banks WILL ask you awkward questions

Banks are fined hundreds of millions of dollars for insufficient customer verification. This is exactly what happened with the largest bank in Pakistan, which received a $ 225 million fine and is now forced to close a branch in New York.
In early September, Habib Bank, which is the largest in Pakistan, was sentenced in New York. According to the Department of Financial Services, the bank did not conduct sufficient customer audits that are required by New York law. The bank was fined $ 225 million for not combating money laundering and financing terrorism, for ignorance in an adequate form of reporting, and they demanded to close the branch in the city. Continue reading

How can a non-resident open an account in Europe without visiting a bank?

Today, a foreign bank account in a country with a reliable and well-organized banking system is an indispensable tool for both private and corporate individuals. Problems in the banking sector and crises in the home country, the risk of loss of assets due to criminal or legal prosecution, currency depreciation – these and other reasons make many people think about withdrawing money to a safer place.
The banking system of many European countries is well developed, reliable and well organized. Continue reading

Offshore World Bank Almanac – Canada

Canada is not a traditional offshore jurisdiction. Taxes in Canada are higher than in the US, and you are unlikely to open an account in Canada remotely without special knowledge and very long negotiations with dozens of banks. Very often, our clients who are interested in opening an account in a Canadian bank, after consultation, thank for the advice to open an account in a Canadian bank branch on one of the islands of West India, for example, on St. Kitts or Nevis. Continue reading

Tariffs of the English Bank Barclays on international transfers.
Unfortunately, the world is designed so that you have to pay for everything, and the mean, as you know, pays twice. In the offshore industry, the miser pays both 5…

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