Singapore Expats

bank investment products

Discuss the different banking options, rates, offers and perks.
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Eau2011
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Post by Eau2011 » Mon, 28 Feb 2011 11:25 pm

beppi wrote:
Eau2011 wrote:So you did not really understand me. I'm not talking about the past, but exactly from the day back to Europe.

I mean I don't even want to pay that 25% tax from the day back to D or NL. No high tax rate in Europe for me at all! :(

Capital gains are not taxable in SG, that's what I heard. Only for income you have to pay tax.
From the day you're back, you have to declare and pay tax on capital gains and interest earned worldwide (read the tax laws and taxation agreements).
Not telling is illegal (and called "Steuerhinterziehung"). That others have done and gotten away with it does not guarantee you will, too.
But if I were you, I won't boast about such intentions on a public forum like this!
If that's the case, we will not go back to Germany. :P We will stay as Devisenauslaender.

We both have paid more than enough tax in Germany! But just to see how they wasted our money! for bureaucracy, for some lazy Hartz IVler who just don't want to work (I have no problems with helping people who need it.), for projects with planning mistakes, for cleaning up the s**t of the banks.

No way, I'm not going to pay for that anymore.

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JR8
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Post by JR8 » Tue, 01 Mar 2011 2:17 am

aster wrote:In the digital age, banking secrecy matters less and less as there is no communications secrecy. Even in the EU each country has to store all URLs accessed by every single user for a period of 6-24 mths. I think it would be fairly easy to see who's been logging into a foreign bank account, and I'm sure the German (or most other) authorities would have flagged all domains from offshore banks years ago...

IMO banking secrecy only makes sense if you never communicate with your bank from a distance but only deal in person, on the spot.

Personally I have nothing to hide as I live in Singapore, where there is no capital gains tax on individuals, and I can be open about everything. In your case I believe you can do the same if you are no longer resident in Germany (I'm not German so I'm not that familiar with the laws over there).

Simple, connect via a VPN.

Hey look I'm in SG. Hey look look now I am in London.

Who am I?

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aster
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Post by aster » Tue, 01 Mar 2011 12:01 pm

I would just be open about everything. And if the tax rate/rules in a particular country (like Germany) are unacceptable, the someone should choose another place to live in... or accept and play by those rules.

In the end I don't even think a VPN setup would do much if the guys in Germany thought you were doing something naughty. :)

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ev-disinfection
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Post by ev-disinfection » Tue, 01 Mar 2011 1:07 pm

For me, I don't trust banks, credit cards and lawyers... oops. Would prefer to buy property here and rent it out, but of course, this is not the right time to buy, maybe in a years time.

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ksl
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Post by ksl » Tue, 01 Mar 2011 4:55 pm

ev-disinfection wrote:For me, I don't trust banks, credit cards and lawyers... oops. Would prefer to buy property here and rent it out, but of course, this is not the right time to buy, maybe in a years time.
Me too, never trust them, not even insurance companies, there is always something hiding away in the small print, or in legal garbage no one understands until it's been tested.

Then what about a condo in the CBD and rent to home business, the psf price is much more attractive so i was reading in the local paper :wink:

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ev-disinfection
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Post by ev-disinfection » Tue, 01 Mar 2011 5:47 pm

ksl wrote:
ev-disinfection wrote:For me, I don't trust banks, credit cards and lawyers... oops. Would prefer to buy property here and rent it out, but of course, this is not the right time to buy, maybe in a years time.
Me too, never trust them, not even insurance companies, there is always something hiding away in the small print, or in legal garbage no one understands until it's been tested.

Then what about a condo in the CBD and rent to home business, the psf price is much more attractive so i was reading in the local paper :wink:
Oh yes, I missed out on the insurance companies... cannot stand them SOBs too,

Speak of the devil, i have an appointment at the Marina Bay Residences
for a long term contract, will take photos and post back here. :D

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Mad Scientist
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Post by Mad Scientist » Wed, 02 Mar 2011 3:19 am

Insurance companies are OK , the problem is the agent themselves. Not all of them but many are two timer BS. Try buying insurance from AIA or Prudential directly and they will tell you NO. They will introduce you to a FIA which most of them are loads of craps and just want the commission.
This is the crux of the problem as the agents give a bad name for the insurance companies
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

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