Quote from dandxg:
Hi Mark1,
I am looking into expatriating, part of which would include exploring foreign banking. How do you go about determining that your bank in Singapore is financially sound?
Is there an financial insurance deposit like we have in the US?
I am currently US based with all US based bank account and US based brokers, that's why I ask about Singapore. TIA.
Dan
i
Hi Dan,
Singapore. No taxes on interests earned (for instance on fixed time deposits), good banks (OCCB, DBS), stable environment , premium banking available for more than 200 000 SGD etc.
Easy.
Other options:
offshore bank account in Guernsey with HSBC.
Can be done completely by mail, but you do need notarized English translations of utility bills (electric, water, fixed phone line etc, to fight terrorism and money laundering).
10 days you have accountnr., swift code, internet banking etc...
Google for hsbc offshore. Application forms are downloadable.
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Bradford & Bingley offshore instant access @ 6.10% roi
http://www.bbi.co.im/offshore-savings-accounts/offshore-internet-banking/e-access-account.aspx
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Anglo Irish offshore 12 month fixed term @ 6.50% (20% withdraw no penalty)
http://www.angloirishbank.co.im/personal-savings/privilege-fixed-interest-account.asp
These are just a few examples, you can find a lot more options by googling or just go on thaivisa.com forum and search for shore AND bank. Lotsa info
hope it helps
ps.
Since you are from the US you should ask someone from your country what to do, because in my country they don't shove their head up my @ss, herm i mean we have a different tax system.

, oh and almost forgot, with all the money you are going to save, consider to give some to the people who really need it
