Am I guaranteed absolute privacy and confidentiality from an
When it comes to the declaration of assets held and ‘savings
income’ generated, the EU Savings Tax Directive 2005 may
limit the amount of privacy you are afforded if you bank or
reside in one of the countries affected by the directive.
These countries are: - Andorra, Anguilla, Aruba, Austria,
Belgium, British Virgin Islands, Cayman Islands, Channel
Islands, Cyprus, Czech Republic, Denmark, Estonia, Finland,
France, Germany, Greece, Hungary, Ireland, Isle of Man,
Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malta,
Monaco, Montserrat, Netherlands, Netherlands Antilles,
Poland, Portugal, San Marino, Slovakia, Slovenia, Spain,
Sweden, Switzerland, Turks & Caicos and UK. Simply put, the
EU Savings Tax Directive 2005 is an agreement between the EU
Member States to automatically exchange information about
any customers who earn savings income in one EU State but
who reside in another EU State. This is known as the
‘automatic exchange of information option’ and it is the
ultimate objective of the Directive. If you are not affected
by this directive then your assets and any income you derive
from them will be afforded a certain level of privacy. But
while most offshore jurisdictions offer very high levels of
confidentiality, they cannot guarantee you absolute secrecy
as all financial institutions worldwide have a legal
obligation to report suspicions of serious criminal conduct
- e.g., terrorism. If you are not a terrorist or serious
criminal then you are pretty safe! All your personal data is
subject to modern data protection legislation, and there are
civil and criminal penalties for breach of confidentiality
and unauthorised disclosure and it would never be in an
offshore bank’s interests to breach this legislation. If you
wish to avoid implications of EU Saving Tax Directive desire
further guaranteed levels of anonymity and confidentiality
you may be able to benefit from various other offshore
vehicles such as International Business Companies (IBCs)
and/or offshore trusts.
S.I.B.A Consulting is a
consulting International Swiss Investment Bank Account opening
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Is my bank account guaranteed when I pay your fee?
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Is offshore banking safe?
Am I guaranteed absolute privacy and confidentiality
from an offshore bank?
Can I view my offshore accounts and investments online?
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What is saving account?
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What is current account?
What is numbered account?
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