Cat Driver wrote:Springbok :
On another subject..
Are the T & C 's still a safe heaven for stashing cash outside of Canada?
Or have their banking practices been compromized like happened in Grand Caman?
Cat
My wife is the expert on this as she comes from a banking and financial back ground so I quote her instead of dispensing my own pearls of wisdom:
Yes, the TCI is still a tax free haven for Canadian citizens but that is where the good news tapers off. Try to avoid the banks as they are incredibly disfunctional and riddled with fradulent activity. Scotia Bank for example has to budget at least 2 million US$ per annum in order to absorb losses as a result of fraud, theft and teller / personnel mistakes. Needless to say, their interst rates are low and their banking costs high. The banks here do not really offer investment vehicles and are just plain old banks.
The best bet is to invest funds in a reputed trust company of which there are plenty. The money in this instance is managed by portfolio and money managers and therefore offers more diversity and higher interest rates for investment.
Avoid smooth talking local businessmen, crooks, Canadians who have been here too long, Us Ex-patiats and politicians. That is me talking again!
HAPPY ARE THOSE WHO DREAM DREAMS AND ARE WILLING TO PAY THE PRICE TO MAKE THEM COME TRUE: CARL BOENISH
Not to be confused with Springjob, Handjob, Blowjob or any other job......except a flyingjob!