Gib/offshore accounts

[elusive]

Our savings society in Gib is closed down and all accounts are been closed. anyone else bank offshore in Gib or can recommend anyone anywhere else. Otherwise bro at home will be getting an "inheritance" inorder to put the money in a uk savings account. Theres always something

[pensure1988]

Hi

There used to be Norwich & Peterborough Building Society(now closed) as well as Newcastle Building Society(now closed). There is still Leeds Building Society but they do not run Bank/Savings Accounts, you can only invest in Offshore Bonds with them. If you have or had an Offshore Bank Account/s with Natwest in the Channel Islands, then Natwest will allow you to open an Account with them in Gibraltar

I know there is now a Gibraltar International Bank/ Gibraltar Savings Bank but I believe ,correct me if I am wrong here,one has to be Resident in Gibraltar to open any accounts with them.

Good Luck

David

[country boy]

Sorry, we have just received notification, the Leeds closes at the end of November, we are transferring our funds back to the UK as they are now meager and the interest is pitiful anyway.

[katy]

No advantage in holding money in Gibraltar now as they are compliant with the disclosure act. Best to look at real offshore accounts in Cayman Isles. Panama etc.

[Paddy Pumpkin]

Cayman and Panama have signed up to exchange info also. There are 159 countries signed up...and those that haven't you shouldn't touch because 1 you may never see your money again and 2 it will be next to impossible to bring the money back from those not signed up

[Paddy Pumpkin]

Our savings society in Gib is closed down and all accounts are been closed. anyone else bank offshore in Gib or can recommend anyone anywhere else. Otherwise bro at home will be getting an "inheritance" inorder to put the money in a uk savings account. Theres always something

I can lead you in the right direction, but I need a little more info. What are your objectives? Why did you hold an account in Gib rather than say UK, Channel Islands or Spain? Have you had to report the account in a modelo 720. Did you fill in a CRS and give the GIb bank your Tax I'd number. Message me privately if you prefer.

[Paddy Pumpkin]

Hi

There used to be Norwich & Peterborough Building Society(now closed) as well as Newcastle Building Society(now closed). There is still Leeds Building Society but they do not run Bank/Savings Accounts, you can only invest in Offshore Bonds with them. If you have or had an Offshore Bank Account/s with Natwest in the Channel Islands, then Natwest will allow you to open an Account with them in Gibraltar

I know there is now a Gibraltar International Bank/ Gibraltar Savings Bank but I believe ,correct me if I am wrong here,one has to be Resident in Gibraltar to open any accounts with them.

Good Luck

David

GIB international bank will allow non residents account but you need to be economical with the truth and make a decent size deposit. Face to face meeting required to open account

Money Corp Bank....fully licenced, deposit protection etc will allow nonresidents. All account opening info can be sent via email

[elusive]

Hi

There used to be Norwich & Peterborough Building Society(now closed) as well as Newcastle Building Society(now closed). There is still Leeds Building Society but they do not run Bank/Savings Accounts, you can only invest in Offshore Bonds with them. If you have or had an Offshore Bank Account/s with Natwest in the Channel Islands, then Natwest will allow you to open an Account with them in Gibraltar

I know there is now a Gibraltar International Bank/ Gibraltar Savings Bank but I believe ,correct me if I am wrong here,one has to be Resident in Gibraltar to open any accounts with them.

Good Luck

David

Thats who we are/with (Leeds). They are shuting their branch at the end of Nov as they are hardly getting any customers. Theyve been there nearly 20 years. Feel sorry for the staff

[elusive]

No advantage in holding money in Gibraltar now as they are compliant with the disclosure act. Best to look at real offshore accounts in Cayman Isles. Panama etc.

We arent looking to tax dodge ive got morals.nor that sort of money. Our accounts are fully declared on the 720. Intrest declared every year.the only reason we opened them was because we brought money over here thinking interms of buying which didnt happen spanish accounts gave vertually no intrest and as non U.K residents it was impossible to open accounts there.so Gib was the only option interms of a legitimate safe savings account. All we are looking for is a box standard account somewhere to put cash and make abit of intrest considering how low rates are. We got caught with the icesave fiasco in 2008 so wont take any risks for the bit of intrest available

[elusive]

Sorry, we have just received notification, the Leeds closes at the end of November, we are transferring our funds back to the UK as they are now meager and the interest is pitiful anyway.

Yeah got a letter today. Was planning to to go over next week to update passbooks for intrest. it will be a different visit now.

[elusive]

Hi

There used to be Norwich & Peterborough Building Society(now closed) as well as Newcastle Building Society(now closed). There is still Leeds Building Society but they do not run Bank/Savings Accounts, you can only invest in Offshore Bonds with them. If you have or had an Offshore Bank Account/s with Natwest in the Channel Islands, then Natwest will allow you to open an Account with them in Gibraltar

I know there is now a Gibraltar International Bank/ Gibraltar Savings Bank but I believe ,correct me if I am wrong here,one has to be Resident in Gibraltar to open any accounts with them.

Good Luck

David

GIB international bank will allow non residents account but you need to be economical with the truth and make a decent size deposit. Face to face meeting required to open account

Money Corp Bank....fully licenced, deposit protection etc will allow nonresidents. All account opening info can be sent via email

Thanks. I emailed Gib bank not long ago and they said residents only.emailed them again.see what they say

Google brings up skipton internation based in guernsey.unsure though as to how secure their deposit comp scheme is though

[Paddy Pumpkin]

So presuming you are after GBP fixed deposits

Moneycorp bank in Gib. https://www.moneycorpbank.com/ same protection as Leeds BS, same rates as Gib international but really easy to open and manage online.

Or in Malta...which gives higher protection and will stay in EU
Off the top of my head MeDirect (Medbank) was the best for GBP deposits. Have a look at Malta and if you are happy to deposit there I will give you the list of who is easy to open and will take non residents.

If it is EUR deposits you are after then let me know and I will tell you what is available throughout Europe...don't deposit in Spanish banks

[elusive]

Yeah GBP. Looked at money corp but they are only covered by gib deposit scheme.LBS was covered by the uk and you have to open a bank account then a savings accounts. Just want something simple. Go in open the account get a passbook.dont need online.

Thanks for your advice. Will be in gib next week so will ask in gib international if ive not heard from them. Probably giving family the money to open an account in the u.k is prob the easiest option as we will prob be returning to live in the U K within the next year. Its just another hassle we could have done without untop of a list of many others. It doesnt rain..... i guess the only positive is we will be making less visits to Gib now!

[Paddy Pumpkin]

If you don't want to bank online and want a passbook then there is nowhere in Gibraltar or Channel Islands or Isle of Man that will satisfy your criteria. There is no reason whatsoever that you cannot open open an account in the UK. Infact many banks actively market to people living outside UK and within EU.

[elusive]

Thanks. Yes you can open a current account in the uk which we have from before we came .but ive yet to find any that will allow you to open a savigs one

[Paddy Pumpkin]

Skipton do a specific savings account for non UK residents. Don't know about a passbook though.

HSBC and Natwest allow non residents to hold savings account, again no passbook. There may be more that I don't know about.

If you are willing to move away from a passbook and operate your account through online banking then it will open up your options.

[elusive]

Re Gib bank if it helps others. Received a reply from them and you can only open an account if you are resident in Gib,work there or have close ties to the place.

[Manchesteral]

Without going into personal reasons why, I can recommend Queensgate bank and trust, Georgetown, Grand Cayman.

If you do decide to use Cayman Islands banking I suggest, if you are non resident there, a category A or B bank.

[qe2ex]

If it is EUR deposits you are after then let me know and I will tell you what is available throughout Europe...don't deposit in Spanish banks

Why not?

[Paddy Pumpkin]

Without going into personal reasons why, I can recommend Queensgate bank and trust, Georgetown, Grand Cayman.

If you do decide to use Cayman Islands banking I suggest, if you are non resident there, a category A or B bank.

Given there is no deposit insurance scheme it would not be high on my list of places to deposit money.