Archives for International Banking
Gibraltar: Amongst the first countries to work towards introduction of cryptocurrency regulations
While traditional financial hubs such as the UK are moving away of cryptocurrency businesses, other destinations begin to emerge on the virtual currency map. The Gibraltar Financial Services Commission, which is the leading financial regulator in the aspiring British Overseas Territory, recently announced that it explores introduction of a...
Correspondent bank account explained
Correspondent bank account definition A correspondent bank account usually referred to as a Vostro or nostro account, is an account that allows for reciprocal accounts with various banks under an agreement. These accounts are established to enable the domestic bank to make payments or money transfers on behalf of...
The story of Gibraltar’s new local bank
Gibraltar’s new international bank for the locals Gibraltar is well known as a financial centre, similar to other British Overseas Territories and Crown Dependencies such as the Cayman Islands, the British Virgin Islands, the Isle of Man, and Jersey. The Rock, as Gibraltar is often known, has particular specialties...
What is a Correspondent Bank Account?
Personal agent in every country The requirement of having correspondent accounts is becoming more and more popular amongst businessmen when they are looking to open their business accounts with a particular bank. This type of account acts as the bank’s personal agent in the jurisdiction where the Clients require...
Do proposed bank sales in Portugal reflect an improved economy?
BPI branch at Praça Duque de Saldanha, Lisbon Portugal was one of the European nations to fare most poorly in the last decade’s financial crisis, needing to be bailed out with European funds like its southern European counterparts: Italy, Greece and Spain. This weakness in the Portuguese economy, particularly...
Is Switzerland still a safe and secure place to invest your money?
Currency of Switzerland When one thinks of a tax haven, Switzerland typically comes to mind and indeed it does have a reputation since the 1930’s of being an ideal location to park money without fear of company ownership being disclosed to the public or to regulatory bodies. Switzerland has...
What is Offshore Banking
Definition The term ‘offshore banking’ refers to having a bank account in a bank that is located in a country outside the country of residence of the depositor. Offshore banking is often associated with tax-exempt, or low tax, jurisdictions that provide a set of advantages for its customers. Offshore...
Open foreign corporate bank account without travelling
A huge advantage to modern communication channels is the convenience it provides. This is increasingly evident in the business world and did you know that you can even open a foreign corporate bank account in many countries around the world without having to leave your desk. While you don’t...
US Senate Accused Swiss Bank of Harboring Funds of Wealthy Americans
The United States Senate has accused Swiss bank Credit Suisse of harboring between 10 and 12 billion US dollars belonging to wealthy Americans. The money harboring would protect those wealthy Americans from the recently adopted tax laws that would help eliminate the anonymity of those who use offshore accounts....
Advantages and disadvantages of offshore bank accounts
For over a decade, Healy Consultants Group PLC is assisting our Clients open both, personal and corporate bank accounts in every country in the world. Here are the advantages and disadvantages of offshore bank accounts. Add this infographic to your site <a href=”https://blog.healyconsultants.com/wp-content/uploads/2013/09/International-banking-advantages-disadvantages.gif”><img class=”alignleft size-large wp-image-2228″ alt=”Healy Consultants Group...