Regulatory Oversight
Turicum is a fully licensed bank registered in Gibraltar.
Gibraltar’s regulatory environment is overseen by the Financial Services Commission (FSC). The FSC is a wholly independent regulatory authority, but draws its strength from its similarity to the Financial Services Authority (FSA) in the UK, and ensure that the highest international standards are met. At the same time Gibraltar provides an attractive fiscal environment for residents and corporates.
Depositor Compensation Scheme
Turicum Private Bank is a participant in both the Deposit Guarantee Scheme and the Investor Compensation Scheme in Gibraltar. Payments under these schemes are limited respectively to EUR 100’000 and EUR 20’000 details of which can be found at www.gdgb.gi and www.gics.gi or on request.
Purpose Of The Scheme
The Scheme is intended to promote confidence not only in licensed banks, but more importantly, in the financial system as a whole. It draws its justification from the fact that many depositors are not generally in a position to make a comprehensive assessment of the risks affecting a licensed bank.
Banks Covered By The Scheme
The Scheme covers deposits made with banks licensed under the Banking Act incorporated in Gibraltar. For detailed information please click here.
Tax Reporting
Gibraltar is a participating jurisdiction in the OECD’s Common Reporting Standard for Automatic Exchange of Information (AEI) and Turicum Private Bank is fully committed to its implementation and promotion of a fully tax compliant private banking environment for its clients.
Furthermore, in the spirit of providing our clients with all the relevant information to report to their respective tax authority, Turicum Private Bank's clients can request a country specific Tax Report. These reports provide all the required information for the completion of tax returns including realised capital gains, dividend income and interest income.
Important Links
- Gibraltar Regulatory: http://www.fsc.gi
- Gibraltar Banking Association: http://www.gba.gi
Turicum Private Bank operates under the Depositor Compensation Scheme established under the laws of Gibraltar. Turicum Private Bank Limited is registered in Gibraltar under number 47119. Its registered address and principal place of business is: Turicum House, 315 Main Street, Gibraltar GX11 1AA. It is licensed and regulated by the Gibraltar Financial Services Commission (No 00442B) to provide Banking and Investment Services .
