Dear Blog Reader,


Welcome to my blog. I’m really glad that you have found me and hope that what you read here will make you a regular visitor.

The OECD wants to bring in revolutionary changes in the financial world. From October 2017 an automatic exchange of information is due to start/may start (?) internationally which could make international financial matters totally transparent and prevent tax evasion. The plans have been born, on paper at least, but the system has not even been tested in the laboratory yet.

What I am going to write about now is something which doesn’t even exist in reality, but is causing quite a stir among the business public. I, who have been the managing director of LAVECO Ltd. – a company dealing with the incorporation of offshore companies and opening of international bank accounts – for some 24 years now, see our clients’ requirements and questions on a daily basis; I hear their comments and know their views. My many years of experience have taught me that each new law is only worth as much as it can be enforced. This will be no different in the case of the exchange of information agreements.

The reason I started this blog was to summarise from time to time, up to the end of 2017 and maybe a little beyond, the developments in this area, and to offer an insight into the topic from a slightly different viewpoint to that of the theoretical experts.

In my blog archive you can also browse through my earlier offerings which in some way touched on the subject.

I would like to thank you in advance for your kind attention and to remind you that I look forward to receiving your heartfelt and, hopefully, colourful comments and posts.


Warm regards

László Váradi
Managing Director