Asia offshore banking

Offshore banking in Asia

Currently the banking sector in Thailand is almost exclusively made up of big Thai banks (Bangkok Bank, KASIKORNBANK and Siam Commercial Bank being the main players). In Bangkok the international banks Standard Chartered, HSBC and Citibank have main branches in the Central Business District. However, the Thai banking sector is undergoing a liberalization phase and it is expected that foreign banks will have more of a presence here shortly - starting with Standard Chartered Bank's Thai entity: Standard Chartered Nakornthon Bank.
Strictly speaking, foreigners cannot open a bank account in Thailand without a work permit. Practically speaking banks allow foreigners to open savings accounts, but checking accounts can only be opened if you have a work permit. Checks can, however, be paid into savings accounts and check clearing takes one and half days. Foreigners are also free to open foreign currency accounts, but are subject to Thailand's foreign exchange rules.
Remitting money into and from a bank account in Thailand is no problem (using the SWIFT system); however, with large transactions you are usually asked to produce documentation for the reason why the money is being remitted. This is needed so as to comply with Thailand's money laundering rules.
Normally there is no charge for having a bank account in Thailand, but interest rates are very low (currently less than 1%).
Individual income tax
Thailand adopts a rising scale taxation system on annual income earned (less permitted deductibles), as follows:

• 0-99,999 Baht: 0%
• 100,000 - 499,999 Baht: 10%
• 500,000 - 999,999 Baht: 20%
• 1,000,000 - 3,999,999 Baht: 30%
• 4,000,000 + Baht: 37%

Note: income tax is payable by residents on worldwide income generated provided that such income is remitted into Thailand within the same year as it is earned. Individual social security tax
A social security tax of 5% on earnings, to a maximum of Baht 750 per month, is deducted. Value Added Tax
Value Added Tax at the rate of 7% is payable on most consumer goods. This tax is included in the advertised retail price of goods.

Bank of Thailand - Central Bank of Thailand. Contains press releases, detailed economic and financial statistics, and prudential rules.

The Bank of Asia Public Company Limited - Established in 1939, Bank of Asia has built a reputation as a leading provider of a comprehensive range of financial banking operations with its affiliates in general insurance, fund management, debt and equity underwriting, stockbroking and leasing.

Bank of Ayudhya PCL - Bank of Ayudhya Public Company Limited is the fifth largest domestic commercial bank in term of asset size in Thailand. The bank provides a full range of retail and corporate banking services to both its corporate and individual customers. The Bank's retail banking activities include demand, savings and time deposits, lending service, bills payment service, investment banking, electronic banking and other services through its any nation-wide brances.

Krung Thai Bank

Nakornthon Bank - The first bank to issue the multi-function global debit card in Thailand.

Siam City

Siam Commercial Bank

Thai Farmers Bank - Thai Farmers Bank in Thailand.

Bank of Taiwan

China Development Industrial Bank (China Development Bank) - Taiwan's first Industrial Bank, officially transformed from China Development Corporation(CDC) on Jan. 8, 1999, founded in 1959, listed on the Taiwan Stock Exchange since 1962.

Chinatrust Commercial Bank - The bank is located in Taiwan R.O.C (Republic Of China).

Monetary Authority of Singapore - Central Bank of Singapore.

The Development Bank of Singapore - DBS Bank is the largest banking group in Southeast Asia and is ranked among the top 100 banks in the world. Through the efforts of more than 10,000 DBS employees, we provide comprehensive banking services to more than 5 million customers in the Asia-Pacific region, working to meet the unique needs of individuals and growing enterprises. Our regional network has grown to include 1,424 banking locations in 12 countries.

Keppel Tat Lee Bank - A merged bank from Keppel Bank and Tat Lee Bank.

OCBC Bank - Leading bank in Singapore and around asia.

Overseas Union Bank Limited - The Overseas Union Bank (OUB) is a premier consumer bank in Singapore and a leading regional bank. The OUB Group has an extensive network of 71 offices in 16 countries. Since it first started business in Singapore in 1949, OUB has grown from strength to strength to become the fourth largest Singapore bank and the fifth largest commercial bank in ASEAN in terms of shareholders' equity. Its group shareholders' funds stand at S$4.72 billion and total assets amount to over S$39 billion (figures as at end 1999).

The United Overseas Bank Group of Singapore - The United Overseas Bank Group is the largest bank group in Singapore. The Goup offers products and services including insurance, asset management and properties. This website is the official home page that offers information on these services, and more.

Asiatrust Bank - Highligt on the small and medium enterprises corner and online loan application.

BSP - Bangko Sentral ng Pilipinas - Central Bank of the Philippines.

Bank of the Philippine Islands - Visit the homepage of the largest private unibank in the Philippines.

Far East Bank and Trust Company

Metropolitan Bank and Trust Company - The bank is a universal bank providing, on its own account and through other members of the Metrobank Group, a full range of banking and other financial services. The bank, through its expanding branch network, offers banking services throughout the Philippines, particularly to middle-market businesses and leading Philippine and multi-national corporations. Metrobank is the leading provider of trade finance in the country.

PhilBank - A bank which is truly "People for People" is now on its 63rd year and still going strong towards Philippines 2000.

Philippine Commercial and International Bank - With 58 years of solid banking experience, PCI Bank maintains its position as one of the Philippines' leading universal banks.

Security Bank - Security Bank - A leading player in the Philippine Commercial Banking Arena.

Solidbank Corporation - Affiliated with the Scotiabank Group, Solidbank is renowned for its distinct blend of service and professionalism earning for the Bank the loyalty of the Filipino-Chinese business community as well as the top corporations of the land.

United Coconut Planters Bank

Urban Bank - Started as a private development bank in 1980, Urban Bank has grown phenomenally into a dynamic and competitive commercial bank with modern banking capabilities.

The Bank of Korea - Central bank of Korea.

Hana Bank

Hanil Bank - The first privatized Korean bank providing a full range of financial services.

Korea Exchange Bank - The largest leading commercial bank in Korea.

Kookmin Bank - Kookmin Bank was established by Korean government.

Koram Bank Homepage - Koram was formed as a joint-venture between Bank of America and several of Korea's most renowned companies in 1983.

Korea First Bank - Established in 1929, Korea First Bank is offering top-class financial services ranging from retail banking to international banking. Aggressive and forward-looking, the Bank has well-balanced domestic and overseas networks: 365 branches in Korea and 16 overseas offices and subsidiaries located in major international financial hubs. Aiming to be a preeminent world-class financial institution, Korea First Bank continues to pursue excellence by earning customers' trust and support.

National Agricultural Cooperation Fund - The Bank for Korean farmers.

Seoul Bank - Seoul Bank is a commercial bank in Korea.

Shinhan Bank - One of the Korean commercial banks with the highest credit rating.

Bank of Japan - Web site of the Bank of Japan, the nation's central bank, with information about the Japanese economy and Bank of Japan activities.

The Bank of Saga Ltd.

Bank of Nagoya

OITA

Mizuho Securities Research & Links - Mizuho Securities is an integrated securities firm, established on 1st October 2000 from the merger of DKB Securities, Fuji Securities and IBJ Securities. Mizuho Securities is the investment banking arm of the Mizuho Financial Group. subsidiary of The Industrial Bank of Japan (IBJ). The IBJ Group is determined to fully meet the confidence of its The English language website provides Research and Links to English language resources on the Japanese economy, finance, politics and law. There is also a comprehensive list of links to the English language websites of Japanese listed companies.

Tokai Bank - The Tokai Bank, Limited, ranks seventh among Japan's city banks. It is headquartered in Nagoya, the principal city in Japan's industrial heartland of Chubu. Tokai Bank's branch network covers all three of Japan's major metropolitan centers. The Bank provides retail, commercial and investment banking, asset management and capital market services to domestic customers through 285 branches, 12 subsidiaries and 12 affiliates.

BI - Bank Indonesia - Central Bank of Indonesia.

Bank Central Asia

Bank Dagang Nasional Indonesia

Bank Duta Indonesia - Bank DUTA, which became a public company in June 1990, is one of several prominent private national banks in Indonesia with an extensive.

BII - Bank International Indonesia - Products and Services, Locations, and other banking informations.

Bank Negara Indonesia

Bank Universal - Company Profile & Corporate Philosophy

Lippo Bank - The website of Lippo Bank, one of indonesia's major banks.

PT BANK MANDIRI (PERSERO) - Bank Mandiri are concentrate on retail banking. It also offer high quality banking services to the corporate sector, through high quality banking services in the areas of trade finance, cash management, syndication and capital market.

HKMA - Honk Kong Monetary Authority - Central Bank of Hong Kong. Founded 1993 by merging two government agencies: the Office of the Exchange Fund, which manages the Currency Board of the Hong Kong dollar, and the Office of the Commissioner of Banking, which is responsible for banking supervision.

Bank of China Hong Kong branch of one of the largest Chinese banks.

Bank of East Asia - Serving the people of Hong Kong since its establishment in 1918, The Bank of East Asia is the territory's largest independent Chinese bank.

China Construction Bank Hong Kong - CCB is one of the largest commercial banks in China. Our growth in China was phenomenal over the past 5 years and we are now holding the 2nd largest market share of the RMB deposit market in China.

Hang Seng Bank - One of the largest commercial banks in Hong Kong. Founded in 1933. Member of the HSBC group (London).

Hongkong Bank Holdings - Home of one of the biggest banks in the world.

HSBC - Hong Kong Shanghai Banking Corporation Ltd. - One of the largest commercial banks in Hong Kong. One of the three banks with the right to issue Hong Kong dollar notes (together with Bank of China and Standard Chartered Bank). Management bank of the clearing house of the Hong Kong Association of Banks. Member of the HSBC group (London).

International Bank of Asia - An innovative, all-services retail bank in Hong Kong.

Kwong On Bank - Characterized with its personalised banking services, Kwong On will sustain striving its on-going trust and commitment relationship with its customers.

Bank Negara Malaysia - Central Bank of Malaysia

Export-Import Bank of Malaysia Berhad (Exim Bank) - A wholly owned subsidiary of Bank Industri Malaysia Berhad, was incorporated on August 29th, 1995. Exim bank's authorised and paid-up capital as at March 1997 are RM500 million and RM200 million respectively. The Ministry of Finance of Malaysia holds one Golden Share in the Bank.

Perwira Affin Bank Berhad

PhileoAllied Bank - Malaysia's most innovative financial services provider.

Southern Bank Group Home Page - Southern Bank Berhad (SBB) is a public-listed financial institution in Malaysia offering a wide range of financial services.

Weng Yip Bank