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Banking. An offshore bank is a bank that is operated and regulated under international banking license (often called offshore license), which usually prohibits the bank from establishing any business activities in the jurisdiction of establishment. Due to less regulation and transparency, accounts with offshore banks were often used to hide ...
Ireland is a top-five conduit OFC, the largest global tax haven, [ 1 ][ 2 ] and the third-largest OFC shadow banking centre. [ 3 ] An offshore financial centre (OFC) is defined as a "country or jurisdiction that provides financial services to nonresidents on a scale that is incommensurate with the size and the financing of its domestic economy."
Tangerine Bank (formerly ING Bank of Canada) — formed by the purchase of several small Canadian companies by the Dutch ING Group. It has been owned since 2012 by Scotiabank (formally the Bank of Nova Scotia). Tim Hortons — sold to U.S.-based Wendy's International in 1995, and later to sold to the public as an IPO in 2005.
Offshore banking offers some potential advantages, including tax benefits, asset protection, convenience, and ability to make investments in different currencies. However, there are also some ...
The Bank Act allows that federal credit unions may either be created by five persons (of which three must be individuals), or through the continuance of one or more credit unions existing within provincial jurisdiction. The provisions came into force at the end of 2012. The first federal credit union in Canada was UNI Financial Cooperation ...
The Foreign Account Tax Compliance Act (FATCA) is a 2010 U.S. federal law requiring all non-U.S. foreign financial institutions (FFIs) to search their records for customers with indicia of a connection to the U.S., including indications in records of birth or prior residency in the U.S., or the like, and to report such assets and identities of such persons to the United States Department of ...
The Bank of Canada Building in Ottawa is the headquarters of the country's central bank. Bank of Canada (Central Bank) Business Development Bank of Canada. Farm Credit Canada – Government-owned Farm Credit is not a deposit-taking bank. It is, however, a major lender to the agriculture and agri-food industries.
Banking data. Estimating the amount of capital in the private and/or offshore banking system through IMF–BIS bank filings; associated with several NGOs. National accounts data. Estimating the amount of capital that is unreconciled in global national accounts data; associated with tax academic Gabriel Zucman. Corporate data.