A recent study revealed that 92% of expats use the internet to access their bank accounts but only 30% have offshore bank accounts. Because of that, most of them are unable to benefit from the advantages of offshore savings accounts such as higher interest rates, low taxes, etc.

Most expats prefer bank accounts that are accessible online because it enables them to transact 24 hours a day thus resolving the time barrier between continents. With internet banking, expats are able to transfer funds to their families, pay mortgages or conduct any kind of financial transaction from across the globe anytime they need to do so.

For Offshore banks wanting to tap the expat market, improve your online features and it will be easy for you to get them. Good luck!

In the final trading day for the year, Hongkong’s stock market madly went after bargain blue chips giving a new variant to the term Christmas shopping. As a result, the index climbed to a record breaking year 37% increase.

The market corrected a bit too much on Friday over fears that China will implement credit tightening measures. Since that didn’t happen, speculation that there are plenty of priced bargains waiting to be bought and the excitement brought by new issues from the mainland among others, made the Hong Kong market very busy on the last day. Despite that, turn over was weak (at only $43.36 Billion) and was way below than 2007’s daily average (of more than US $ 88 Billion).

Kuwait to cut tax for foreign firms

… tax but the cabinet is studying a comprehensive income tax bill that stipulates collecting taxes on profits of Kuwaiti companies but spares low salaries.