One of the benefits to yachting is the fact that they operate in a Tax-Free environment. Due to the fact that majority of the worlds luxury yachts are registered in Tax Havens like the Cayman Islands, Isle of Man. When you start out in the yachting industry earning tax free dollars, it’s wise to open up an offshore tax account. There are a few offshore banks but you have to weigh up the pro’s and cons with each. Here are a couple to consider:
New to the yachting industry - check out our New to Yachting Section -
Lloyds TSB Offshore http://www.lloydstsb-offshore.com/
Standard Bank http://www.sboff.com/
HSBC Offshore http://www.offshore.hsbc.com/
Standard Bank http://www.sboff.com/
HSBC Offshore http://www.offshore.hsbc.com/
When it comes to the tax issue, check out our Money & Finance section for a better idea. In short, the offshore tax issue varies for every individual and each country has it’s own tax laws. The information that we offer should only be used as a guideline, as we highly suggest that you speak to a professional that has knowledge of offshore tax relating to your country of residence.
Transferring Money Home?
Transferring Money Home?
Sending money overseas can be expensive if you are using the major banks? Blue Ocean Yachting are pleased to partner with foreign exchange specialists OzForex so now you can transfer money faster and for a lot less. Their fee is only AUD15.00 and their exchange rates are much better than banks. Best of all you can organise a transfer anytime you like online or by phone – they are open 24-hours a day, business days!
By using OzForex you will enjoy;
ü No receiving bank fees in most countries
ü Extremely competitive foreign exchange rates across 18 currencies
ü Online access 24/7
ü Access to a dedicated Dealer by phone 24-hours a day, 5 days a week
ü Complete exchange rate transparency
ü No transaction fees for amounts over AUD10,000
ü Risk management tools through Limit Orders and Forward Exchange Contracts
ü Exchange rate alerts via email
ü Access to our highly regarded daily and weekly “Market Commentary”
To speak to one of their accredited dealers about your foreign exchange requirements call 1300 300 424 in Australia (0845 686 1950 in the UK; 1800 680 0750 in Canada or 0800 161 868 in NZ) or register online
with us is FREE and you can view our live dealing rates immediately.
As a member of Blue Ocean Yachting you will receive your first two transactions fee FREE, so if you feel like saving some money on wire transfers click here to find out more!
By using OzForex you will enjoy;
ü No receiving bank fees in most countries
ü Extremely competitive foreign exchange rates across 18 currencies
ü Online access 24/7
ü Access to a dedicated Dealer by phone 24-hours a day, 5 days a week
ü Complete exchange rate transparency
ü No transaction fees for amounts over AUD10,000
ü Risk management tools through Limit Orders and Forward Exchange Contracts
ü Exchange rate alerts via email
ü Access to our highly regarded daily and weekly “Market Commentary”
To speak to one of their accredited dealers about your foreign exchange requirements call 1300 300 424 in Australia (0845 686 1950 in the UK; 1800 680 0750 in Canada or 0800 161 868 in NZ) or register online
with us is FREE and you can view our live dealing rates immediately.
As a member of Blue Ocean Yachting you will receive your first two transactions fee FREE, so if you feel like saving some money on wire transfers click here to find out more!
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