There is no one size fits all packaged solution. Every business is unique. Everyone who wants to establish an International Banking presence must take into consideration the countries that they will be doing business with to obtain the maximum benefit of going International.
An International Bank has many advantages including strong privacy, less restrictive legal regulation, low or no taxation, easy access to deposits (in terms of regulation) and protection against local political or financial instability. International Banking does not prevent assets from being subject to personal income tax on interest.
Open International Channel Island, Tax-Haven accounts (24 hr. service) and coordinate with Canadian accounts. No deposit is required for 6 months.
Priority Banking Service through established non-Canadian banking facilities (31 countries) and linked Jersey banks with full offices in 49 countries world-wide. Normally U.S Interest saving chequing accounts. Canadian dollar savings account available.
Review and advise on International Banking with no International Wire Transfer or draft charges. (a savings at $45 to $65/transfer).
Advice on efficient transfer of monies International or to Canada to minimize transfer costs. Emergency fund allocation and continuing monthly banking and/or investment plans.
Fax authorization, $US cheque books, $US Visa, and debit card is available at no charge. Alternatively UK Pound and German Deutchmark accounts can be opened.
Prompt service: on home leave, fax at night and money normally is in your $US Canadian bank account in 2-5 days.
Confidential: Once account is opened, information is available to the client(s) alone.
Joint accounts are advisable, i.e. one parent or brother can be added on the registration form "for estate planning purposes" only, with no tax implications.
International Banking....
International bank accounts are available to non-residents of Canada-ONLY. Prior non-resident (NR73) application review is required to open an International bank account. The Expatriate Group Inc. does not assist nor condone tax evasion or money laundering. Tax Haven Banking is part of our full tax/financial planning service including non-residency review. Full disclosure is required to assist you.
Please complete the Client Review Form and Dreams and Goals and Personal Financial Review (PFR) and fax/scan or e-mail documents back to The Expatriate Group Inc. (403) 294-1222 or info@expat.ca.
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Caution You need a strategy to protect your Income and Assets - Is there really a secret to successful International Banking? Yes, there is and it is very simple. “Knowledge” is the secret key.
International Banking does not make tax evasion or money laundering legal. Don’t get caught in the wrong International Bank, tax haven or clearing house that exposes itself to being accused of major illegal money flows.
One common misperception is that International Banking can legally prevent assets from being subject to personal income tax on interest. Except for certain persons who meet fairly complex requirements, this is incorrect as the personal income tax of most countries makes no distinction between interest earned in local banks and those earned abroad. Persons subject to US income tax, for example, are required to declare on penalty of perjury, any international bank accounts they may have. Although international banks sometimes do not report income to other tax authorities this does not make the non-declaration of the income or the evasion of the tax on that income legal in most jurisdictions.