Living abroad and saving in Ireland

L

Lyndan

Registered User
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Hi All,

I am living in Singapore at the moment and there seem to be no good savings accounts here and as we are here to make some money we want to find something good.

Do you know if we can save in Ireland even though we are not living there?

If anyone has any experience I would appreciate the advise,

Cheers
 
I don't think you can... Not sure... Each time I opened an account they asked me for proof of "PPS No" (as proof that I work here)... Or maybe I'm wrong... Good luck... Suggestion: try to contact the "Financial Regulator Authority" helpline!
 
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You can open an off-shore account. Most of the major Irish and English banks and financial houses do them. You can hold funds in any currency you choose.
 
oh off shore banking sounds scary to me! Is this something I should talk to an Irish bank about when I am home at Xmas then?

I just want somewhere with good enough interest - im getting 0.1 here in Singapore!
 
My wife's parents (American, over on holidays) setup an account with BOI a few years back, just needed ID & some bills confirming their address in the US to setup a non-resident account.
 
Lyndan said:
when I am home at Xmas then?
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Do you have a utility bill in your name in Ireland? If so, just go into the financial institution of your choiice when you are home with a certified copy of your passport and the utility bill and open a savings account.
 
PMU said:
Do you have a utility bill in your name in Ireland? If so, just go into the financial institution of your choiice when you are home....
Click to expand...

Surely the utility bill is supposed to be proof of address (i.e that you are living in Ireland)? To do as suggested is not the proper way to go about it adn could lead to problems in the future. Open a non-resident's account.
 
[FONT=&quot]Under the anti-money laundering provisions, the financial institution must take steps to verify (a) the client’s identity and (b) permanent address. The utility bill or equivalent identifies the permanent address. The OP says he / she is in Singapore ”at the moment” so it’s reasonable to assume that he / she might be working temporarily abroad and still have a permanent address in IE.[/FONT]
 
PMU said:
[FONT=&quot]Under the anti-money laundering provisions, the financial institution must take steps to verify (a) the client’s identity and (b) permanent address. The utility bill or equivalent identifies the permanent address. The OP says he / she is in Singapore ”at the moment” so it’s reasonable to assume that he / she might be working temporarily abroad and still have a permanent address in IE.[/FONT]
Click to expand...

I don't think so. They also say they are not living in Ireland.
 
Non-Residency only becomes more complicated if you have more than €6,500 in an interest bearing a/c. You can sign a form declaring your non-res status which means you'd be exempt from paying DIRT on your interest. You may then have to declare it in Singapore for tax there .....not familiar with tax situation there or if they tax you on Int earned.

When you come home for Christmas bring 2 proofs of address ie. utility bills/ financial statements - posted to you within the last 6months - with you. Most institutions will look for 2 when you are non-res. Once you have those & your passport you should have no problems opening an a/c if you call into any bank. Staff should be able to answer any queries you may have.

There's no need to open the a/c with an Irish address. Why would you want statements etc to be sent to an address in Ireland if you live in Singapore ?
 
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