 How can i become a millionair? |
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 Us $ versus £ ??????????????? |
what is the exchange rate at the minute ?
has the $ever been worth more than the £ ?... |
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 Timing mutual funds? |
when investing in mutual funds, is it better in the long run to try and time the market i.e. buy low, sell high ?
Additional Details
i don't mean short-term trading but in terms of ... |
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 What should I do with my Mutual Fund? |
| I have a very small mutual fund, but have lost 20% just over the past few months. Would it be wise in these economic times to put a little more in for the impending improvement (eventual improvement, ... |
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| I am 30 years old and this is the first recession where I've been an independent member of the work force. I am terrified. My mom says not to worry because this has happened before and the ... |
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| i wanna do some thing from home,coz i have kids to take care,i have been browsing for quite sometime about forex?i jus need some expertise advise to goahead......or anyother suggesion to play it ... |
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 Can you buy and sell stocks online without using a broker? |
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I'm an absolute beginning to investing in the stock market.... |
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 Im only 13 and im intrested in purchasing shares can i? |
and i dont have much of a budget but i want to get started in life AUS
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i was reading this article and this billionaire brought his first shares when he was 12 and he ... |
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 If you could buy one and only one Vanguard fund.? |
| which would it be? Or maybe one of another fund. I'm open to sugesstions.... |
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guru_gsm | Offshore Bank Account, why? |
why would someone have one and why would they.
for what reason and what is the maximum and minimum you can hold.
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Cat
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They have them to get around paying taxes to the country they live in. |
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Brian E
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Today, the most common reason is to avoid paying taxes in the country your living in. Historically, people have put money in off-shore accounts for safety. A numbered account has no name on it, and can't be identified by a government as belonging to a certain person or group of people. Additionally, if the country your in has an unstable government, than an offshore account can protect your assets if your local currency becomes worthless.
An account outside of the United States may be dollar denominated, but it never has the same protections that an account within the US has. For example, there is no FDIC insurance for accounts in the Cayman Islands. If you had your money in a Cuba pre-Castro you would have lost it during the coup.
There is no maximum amount you can have in an offshore account. The minimum is probably that of setting up the account. Generally you have to have at least a million dollars and be in a top tax bracket for one to have an incentive.
There are legal reasons why companies use offshore accounts. I may want to invest in a UK company, and the best way to do that may be to deposit treasury bills in a Cayman Island account. This is typically only done by institutional investors. Most people can get exposure to international investments through mutual funds or ADRs. |
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sinead
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to avoid tax |
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Prince Bharat Bhardwaj
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Usually the swiss bank accounts were good to have....But now many Brits usually open accounts in Jersey or the Isle of man so that they don't have to pay taxes. |
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ALPHF
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To delay tax payment if the account is held in Jersey.
Otherwise, to simply avoid tax investigation if the account is held elsewhere. |
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smills0205
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to avoid taxes, to hide money from spouse or other relatives, and also offshore accounts can be very lucrative
amounts are limited by governments of the countries where the accounts are held and sometimes also by the country where the person who owns the account is a resident, so this will vary widely
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suerye
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Interest earned on an overseas bank account is not exempt from UK tax if you are resident here. Overseas banks do report interest earned on these accounts to HMRC.
The main advantage of an offshore account is that the interest is paid without deduction of tax and so you are effectively delaying your tax payment for 9 months. |
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octogen
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It is to avoid company, or income tax for various reasons.
If you own a business and most of your business comes from abroad it might pay you to have an off shore business account to be able to regulate the variation in currencies,and save on exchange duties . |
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Taj
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Quote"There is no maximum amount you can have in an offshore account. The minimum is probably that of setting up the account. Generally you have to have at least a million dollars and be in a top tax bracket for one to have an incentive. "Unquote
Bollocks.
You can open an offshore account with as little as UK 10 grand. |
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