Isle of Man
Personal Banking in Isle of Man
Recent forum posts
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Starting a new business in India
I run a UK business and my fellow Director is an Indian National (I am a British citizen).We now want to launch our company in India and I am struggling to make any progress with the Indian High Commission. Can anyone help me with the process. I have twice visited the commission in London and wasted hours of time due to their complete lack of organisation.I will appreciate any help to make
Total Posts: 12 Last post by leahhart65
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Hiring Struggles for Small Businesses in NZ, Are We Overlooking Soft Skills?
Hi everyone,I’ve noticed that many small businesses in NZ are facing real challenges when it comes to hiring the right people not just in terms of technical ability, but soft skills too. Communication, adaptability, and problem-solving often seem harder to find than certifications or experience.A few small business owners I’ve talked to said they struggle to read between the lines of a sta
Total Posts: 1 Last post by ngaiomarsh98
Why Bank Offshore?
Opening an offshore bank account is an important consideration for anyone moving overseas whether on international work assignments, for an extended period or even to retire. There are many advantages of an offshore banking account and there are a number of factors to be considered when choosing where to open one. The primary consideration is safety and security of your hard earned money. You should choose an offshore jurisdiction which is well regulated and has long term political stability. You should then consider that you will most likely be dealing in currencies other than your home currency.
Your offshore bank should be able to provide banking services and international payments in all major currencies so that you can manage your financial affairs in the currencies of your choosing. And of course you need to be able to access your funds with ease. International transfers, phone banking and International Debit cards are essential here.
What's becoming an invaluable financial tool in the expatriate lifestyle is Internet Banking. Most banks today provide internet banking, but not all can provide it in multiple currencies, with the ability to make international payments and transfer between currencies online. While it may not always be a primary consideration, many expatriates find that an offshore bank account can form part of your overall tax planning solution. Independent tax advice is always recommended in this case.
Finally your offshore bank should be able to provide you with access to the full range of specialist offshore products and services such as offshore mortgages, travel, medical and critical illness cover and expatriate tax advice.
The information provided in this guide gives only general guidance and does not constitute tax, legal, investment or any other advice.
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