WOODY ALLEN once remarked that believing in God would be easier if He would show Himself by making a large deposit in a Swiss bank account in the director’s name. Parking riches in the Alps has become a less heavenly experience in recent years, thanks to America’s assault on its tax-dodging citizens and the moneymen who serve them.
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Overseas investment may become more of a choice for China’s richest families as foreign private banks are looking at offshore opportunities for their Chinese customers to avoid tougher regulations in the country, a PricewaterhouseCoopers survey said.
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Canadian experts say that as long as you follow the appropriate reporting rules set out by the Canada Revenue Agency, offshore bank accounts can be a practical and, in some cases, necessary way to deal with your finances
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The proposals, from members of Germany’s council of economic experts, raise the prospect of taxes being imposed on property in a country like Spain if its government was forced to seek a bail-out.
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“The Rothschilds are clearly one of the few families today with the very rare combination of significant specialist businesses in finance and fine wine, which they leverage.”
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