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Taxation

Home/Questions and Answers/Taxation

What’s the deal with offshore banks?

52 views November 20, 2018 November 21, 2018 cfroagents 0

We don’t have the power to regulate offshore banks. If you would like more regulating in the banking sector, then it is up to  the British public to vote in a party that has more regulation in their manifesto. Currently, we have a government that is pro-business, and so that involves less regulation. t’s not our role to tell the politicians how to run the country – the people have voted in this government and we are accountable to the people. If the people want an alternative economic system they must vote in a party that also wants this and then we will do it.

Answered by: Bank of England

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Where would offshore banking be? Bear in mind that, with the G20 absent, everything would be offshore banking!

Answered by: Financial Stability Board

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Well, people need to understand that [offshore] banking has changed compared to what it was 15-20 years ago. It’s a lot more strict and stern, a lot more regulated.If you want to open an offshore bank account [in the Cayman islands], you either have to be a worker in the islands or have some property.
Answered by: Fidelity Group (Cayman)

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