Do you think HSBC or Barclays is a real offshore bank? they are sp big so how should the protect your privacy and comply to international laws at same time?
Just because HSBC is head-quartered in UK doesn't mean that HSBC in, for example, Singapore or Hong Kong is subject to UK banking secrecy legislation. They are separate entities. HSBC UK cannot access HSBC Hong Kong client information.
This is a problem I know many expats face. HSBC markets itself as an international bank, but people who have had HSBC in one country, moved to another country, and tried to open accounts with HSBC in the new country and transfer everything over find that it's not at all easy. You have to relinquish the banking secrecy in the original country before anything can be disclosed to the new country - if at all possible.
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