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Offshore Banking, the safest countries for my money?

Houdini

Houdini

Merchant Account expert
Mentor Group Gold Premium
Mar 29, 2016
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#1
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Can you mention the best offshore banks in your opinion located in some safe countries which are save to deposit 400,000 euro ? I can place them in US$

I'm not interested in other suggestions, just banks and their countries, if there are any :D
 
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#3
AlicaFunk said:
DBS or OCBC Bank in Singapore, both open accounts for foreigners, I don't know if they do remote account opening.

Switzerland with UBS and PostFinans could possibly work for you, requires good setup in Switzerland.
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The Singaporean banks generally don’t do EU residents unless you are a client of their private banking division ($3 – 5m).

UBS unless you have Swiss residency would need to be CHF 2m.
 
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#4
Houdini said:
Can you mention the best offshore banks in your opinion located in some safe countries which are save to deposit 400,000 euro ? I can place them in US$
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You have been a member since 2016. You should by now have learned that by definition fiat, banks and countries are your enemies.
Houdini said:
I'm not interested in other suggestions, just banks and their countries, if there are any :D
Click to expand...
Seeking validation is dangerous.
 
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#8
Houdini said:
Can you mention the best offshore banks in your opinion located in some safe countries which are save to deposit 400,000 euro ? I can place them in US$
Click to expand...

Where are you based? If in EU or UK you can use a service like Raisin to split among 4 banks of your choice (from list) outside your country to stay under state deposit protection.

Otherwise any EU bank with a custody account and park cash in short term treasury and keep rolling. Custody accounts are ring fenced in case banks collapses and wont form part of BRRD.

P.S No such thing as safe country any more i.e US was considered safe then Trump took office.
 
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#9
Banks and safest is an oxymoron, unfortunately.

Why not just holds bonds/MMFs if you want something fiat-linked?

Otherwise maybe US below insurance limits or SG/HK but those usually ask unreasonable starting deposits.

Or just some EU/UK EMIs with smaller amounts in each – there is tens available easily, at the least. In general, they are quite safe (in the grand scheme of things), thanks to safeguarding systems. The bigger risk there is compliance monkeys, but you cannot avoid those wherever you go on the continent of regulation.
 
#10
ilke said:
Otherwise maybe US below insurance limits
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Relying on US FDIC is like Zelensky relying on US support right now. FDIC almost went bankrupt during 2009 crisis as I discussed below.

Martin Everson

Post in thread 'Can USD kept outside the U.S.A be devalued?'

maxmmm said:
MF Global was not a regular broker but a Futures broker:
"Unlike bank deposits or brokerage accounts, futures accounts carry no backstop akin to FDIC insurance or SIPC coverage. For this reason, account segregation is deemed sacrosanct."

That's why the SPIC insurance was not applicable. Otherwise the clients would have been insured up to $500k for equities + $100k cash
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I wouldn't rely on FDIC. The FDIC is not as safe as you think it it. I discussed FDIC in another thread in 2020. During 2009 financial crisis the FDIC was days away from going...

Hopefully Musk does not make FDIC go the way of USAID. I would not stake any money I care about on taking unnecessary geopolitical risks even if slim.
 
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#11
Martin Everson said:
Relying on US FDIC is like Zelensky relying on US support right now. FDIC almost went bankrupt during 2009 crisis as I discussed below.

Martin Everson

Post in thread 'Can USD kept outside the U.S.A be devalued?'

maxmmm said:
MF Global was not a regular broker but a Futures broker:
"Unlike bank deposits or brokerage accounts, futures accounts carry no backstop akin to FDIC insurance or SIPC coverage. For this reason, account segregation is deemed sacrosanct."

That's why the SPIC insurance was not applicable. Otherwise the clients would have been insured up to $500k for equities + $100k cash
Click to expand...

I wouldn't rely on FDIC. The FDIC is not as safe as you think it it. I discussed FDIC in another thread in 2020. During 2009 financial crisis the FDIC was days away from going...

Hopefully Musk does not make FDIC go the way of USAID. I would not stake any money I care about on taking unnecessary geopolitical risks even if slim.
Click to expand...
You made me think.

Most of my net worth is in U.S. stocks, held in U.S. brokerage accounts.
 
#12
Just use a Kantonal Bank in Switzerland which has state guarantee. Or PostFinance as mentioned above. Just don't cry if fees are too high. You can get a residence permit as any EEA citizen and then just keep the address and the account.

Singapore, HK, etc. works too.
HSBC Premier

Not sure what still goes under off-shore by your definition. Beware that if all goes down, this will go down too. (But rest assured that in that case liquidity would go down too, meaning stocks, real estate and crypto also goes down).
 
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#13
daniels27 said:
Just use a Kantonal Bank in Switzerland which has state guarantee. Or PostFinance as mentioned above. Just don't cry if fees are too high. You can get a residence permit as any EEA citizen and then just keep the address and the account.
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I second this. UBS mentioned above is IMO far from being good.

You probably also want to check some banks in British Crown Dependencies, Barclays Isle of Man would be my first choice.

daniels27 said:
Singapore, HK, etc. works too.
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Yes. But IMO HK is definitely less safe than CH or British Crown Dependencies, SG probably. (Of course, CH is far from being a rock solid haven as it was in the past.)

daniels27 said:
HSBC Premier
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I'm not a fan of HSBC, definitely not. Yet I admit that the onboarding there is one of the easiest.

daniels27 said:
Not sure what still goes under off-shore by your definition. Beware that if all goes down, this will go down too. (But rest assured that in that case liquidity would go down too, meaning stocks, real estate and crypto also goes down).
Click to expand...
Again, I second this.
 
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#16
There's a few banks in luxembourg that have 500k minimums only. HSBC in Jersey requires only I think 100k GBP minimum nowadays and will open for most EU citizens - and while Jersey is a small country HSBC is one of the biggest banks in the world and wouldn't be allowed to fail.
 
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#19
I followed the suggestion here, found five different EMIs, and split my money between them. I put the 100K back into BTC and now just hope the money doesn’t disappear.
 
#20
Houdini said:
I followed the suggestion here, found five different EMIs, and split my money between them. I put the 100K back into BTC and now just hope the money doesn’t disappear.
Click to expand...
Care to share which emis you decided on?
 
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