Tuesday, May 15, 2007

Set Up An Offshore Bank Account in Luxembourg


There are a few hurdles to opening an account in Luxembourg, but they’re minor. For example, you’ll need a reference from your current bank and you’ll need to be able to answer some financial questions about how you intend to use that money in Luxembourg. Like Singapore, Luxembourg is known for a great return on investment, but that return has dropped for some deposit holders who are citizens of European countries. If you’re not affected, you’ll grow your money tax-free in a very stable country. In other words, if you pick Luxembourg over Singapore, you make a tradeoff: Your money might not grow as fast (although it will likely grow), but you won’t be exposed to the risk of investing in a developing economy.

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