I can see banks in australia are offering deposit interest rates of 6% does anyone know if these rates are available to non resident account holders and if so how would i go about opening one. I am aware of exchange rate risks i am just trying to diversify my savings in relatively safe countries offering good deposit rates any advice much appreciated.
Any Bank account held outside Ireland are classed as offshore by the Irish Revenue. Most Banks that are 'offshore' are only interested in opening accounts for non residents if the deposits are for decent amounts. And just in case one might be tempted to stuff CASH into an offshore account, must countries have Tax treaties where the details are passed back, just in case Tax is forgotten to e paid.
I am not trying to avoid tax im looking for countries with good deposit rates where after paying my tax liabillities i could end up with a better return on my savings.
Understood, but before you do that you might be best checking what the Revenue's attitude and Tax treatment is to deposits held outside the country. I was anwering the OPs question.
Ok i can get that checked out but would still be interested in what deposit rates are available. The best i can find is australia at around 6% but as ive said i dont know if thats available to non residents.