General
Q: Is offshore banking still legal in 2025?
A: Yes. Offshore banking is legal in most jurisdictions, provided you declare your accounts and income as required by your tax residency laws.
Q: Does WealthShield Asia offer paid consulting?
A: No. We are an educational platform. While we may partner with verified experts, we do not sell services directly.
Offshore Banking
Q: What documents do I need to open a bank account in Singapore or Dubai?
A: Typically: passport, proof of address, source of funds, and KYC forms. Requirements vary by bank and jurisdiction.
Q: Will my offshore account be reported under CRS/FATCA?
A: If your residency and the bank’s jurisdiction are both CRS participants, yes. U.S. citizens are always reportable under FATCA.
Family Office
Q: Do I need $100 million to set up a family office?
A: Not necessarily. Many countries (like Singapore) allow setup from $5M AUM, especially for 13O/13U schemes.
Q: What's the difference between single and multi-family offices?
A: Single-family offices serve one family exclusively. Multi-family offices manage wealth for multiple families and usually share staff and infrastructure.
Tax Optimization
Q: Which countries offer legal tax reduction for foreigners?
A: UAE, Monaco, Singapore (territorial), Portugal (NHR), and Panama are top choices depending on your profile.
Q: What’s the biggest tax risk in 2025?
A: Non-compliance with CRS/FATCA reporting, especially for those who use undisclosed entities or nominee structures.
Residency
Q: Is it true that 183 days makes me a tax resident?
A: Often yes, but some countries apply center-of-life or closer-connection rules, so physical presence isn’t always enough.
Q: Can I get a second residency without giving up my citizenship?
A: Absolutely. Residency-by-investment programs are separate from citizenship. Most are long-term visas with local benefits.
Still have questions? Email us at [email protected] or explore each section of our website for in-depth guides.
(Editors: admin)