Recent content by thegazelle

Canadians have to declare their worldwide income on their tax returns. If a Canadian has more than 100K Cdn. at any one time in cumulative assets outside Canada, that requires additional forms on the tax return. But any income earned worldwide needs to be reported and that does not matter...

I have posted this link before somewhere else, but this is very handy for anyone looking to see what country has what agreement with who. Right from OECD website: Exchange relationships - Organisation for Economic Co-operation and Development Pick a country in the to and / or from and it...

Well, it depends...if you are using post tax funds which you can prove is already taxed, then it may not be a big deal. But if you are earning money that is not being taxed in your jurisdiction (ie. making money from a foreign source, outside the purview of your country of citizenship, etc.)...

I agree - USA is great for account opening for non-Americans but it does require personal visit. Quickly, here is why the USA is a great jurisdiction for non-Americans: They have FATCA but that is other countries reporting on Americans. They don't have anything in reverse (they are not part...

I am very surprised whenever anyone mentions Mauritius that very few mention Mauritius Commercial Bank (MCB). It is one of the best banks out there, has a long history, and has reliable internet web access as well as a smartphone app. Their support is excellent (despite significant timezone...

I can provide some feedback based on personal experience: 1. It is a basic bank for a personal account. No interest but monthly maintenance fee. Transfer in and out is OK, but it is a bit convoluded. I do not like how it seems to be a bit clunky in terms of having to enter capcha phrase on...

If that is the case then i am wrong but switzerland has agreements with many countries given the historical nature of swiss bank accounts. As you did it is best to check oecd website for latest

I have no idea offhand. But i have another thread where i provided a link to the oecd site where you can select your country and it will tell you with what other countries they have automatic exchange agreements

Fatca is for US citzens who get reported only to the IRS. While FATCA wont apply in your case, unfortuntately Switzerland will report to Brazil via CRS.

FATCA is US based and targets US citizens. Unlike the rest of the world which taxes by residency, the US taxes by citizenship, so you could be a citizen of the US but have not been in the US for 40 years, but guess what - due to FATCA, any money you make in any part of the world in which you...

No, what I am saying is that the US are hypocrites...they expect everyone else to report to their citizens, but they have no desire to report on other countries' citizens that have money in the USA.

There is actually nothing wrong with opening a personal account, if the funds are legal and you understand the reporting requirements. One big reason to open one is for international currency diversification. Another is for jurisdictional diversification. Some people in some countries may...

If you have looked through the list, you may have noticed that the USA is not part of CRS. It is ironic that FATCA has caused such global indigestion, and the USA are practising bullying tactics with the 30% withholding for any countries not signed on with FATCA, but when the rest of the world...

Yes - last year I was strongly considering flying to Singapore for the long flight just to open an account with OCBC. I am glad I didn't. Of course some of these service providers will be more than happy to tell you otherwise but keep in mind, it is no secret that historically Singapore has...

Hi all, thought you may find this resource helpful. It is right from OECD. Exchange relationships - Organisation for Economic Co-operation and Development You can select your country and find out with what other countries they have bilateral exchange agreements. Or you can select your country...