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Bank Online for a poker player on Panamá
- Thread starter AntuFasi77
- Start date
As a profesional pokerplayer my geografic allocations are more limited. I´m fine here on Panamá. Georgia could be another good option
panama will be frown upon by every bank, with gambling and crypto you are asking for trouble really ... you need to be creative otherwise nothing will work.
swissquote would likely work, especially for low amount, pretty sure Switzerland banks won't bother much for a few thousands usd worth of transfers per month.
I would try to bank in gambling friendly countries, thailand might be an option and they have a good crypto exchange, pretty sure they don't care where the money comes from and will not be as much hostile to gambling.
you can easily open an account on a tourist visa there but they will restrict moving money out of the country through swift and such, but you will get a visa/mastercard/unionpay card easily and using the local thai crypto exchange will not trigger any alarm.
overall I would turn to asian countries which don't care much for gambling, I have heard in some south east asian countries you can still show up at the counter with large amount of cash and just give "gambling" as source of funds and they will cash it out with no other questions.
pretty sure you could solve this through creative use of a company to give yourself a salary for consulting/coaching work or something like that.
swissquote would likely work, especially for low amount, pretty sure Switzerland banks won't bother much for a few thousands usd worth of transfers per month.
I would try to bank in gambling friendly countries, thailand might be an option and they have a good crypto exchange, pretty sure they don't care where the money comes from and will not be as much hostile to gambling.
you can easily open an account on a tourist visa there but they will restrict moving money out of the country through swift and such, but you will get a visa/mastercard/unionpay card easily and using the local thai crypto exchange will not trigger any alarm.
overall I would turn to asian countries which don't care much for gambling, I have heard in some south east asian countries you can still show up at the counter with large amount of cash and just give "gambling" as source of funds and they will cash it out with no other questions.
pretty sure you could solve this through creative use of a company to give yourself a salary for consulting/coaching work or something like that.
Thanks for the answer. Yeah i´m going to take a look on to SQ. I´m happy on Panamá, no problem with poker/gambling here. On Asia idk for gambling in general but poker is illegal on countries like Thiland so i can´t play or i have to do it on the shadow. In my case are not big amounts and i can do my tax report here on Panama so i´m happy here. Only I want to have a good EMI or bank for this kind of transactions
I was only talking about banking, not moving tax residency or the like.
you don't necessarily need residency for banking everywhere and some asian banks are much less strict regarding source of funds, they will accept pretty much everything.
actually with your spanish passport you could go to germany for a month or two and with an address there you might be able to get a proof of residency and open a bank account there. after that you "forgot" to update them when you "move" and if your account doesn't move more than a fews thouands a month often it will never be checked or verified.
anyway my point was you will have to be creative, its unlikely you will find anything that allows panama + poker + crypto.
you don't necessarily need residency for banking everywhere and some asian banks are much less strict regarding source of funds, they will accept pretty much everything.
actually with your spanish passport you could go to germany for a month or two and with an address there you might be able to get a proof of residency and open a bank account there. after that you "forgot" to update them when you "move" and if your account doesn't move more than a fews thouands a month often it will never be checked or verified.
anyway my point was you will have to be creative, its unlikely you will find anything that allows panama + poker + crypto.
Ah, ok i understand you now jeje. Wich banks would you recomend on Asia to create an online account? I can do what you said on Spain via N26 for example (i have a fRIend here on Panamá that do the same) but i dont´want to have any bank registration with my Spanish passport or similar. I Have my ID now on Panama and i prefer to handle everything with it. I think that creating a personal account and moving the money is not going to be a problem and i have a few options on mind rigth now like SQ, CONNECT PAY, , Flowbank.....i try to update here with any news that can help other people on Latinoamerica or other countries out of the UE
Hey Antufasi,
I don¨t know about how much money you talk and manage....
But here is my recomendation:
Go back to EU in order to get any utility bill ( CY, PT, UK ). Use the EU utility bill + spanish passport to open accounts with best options in EU, UK, CH etc.
Than do not stay more that a 1-2 months in EU and cancel utility bill contracts. Make your money movements and go back to Panama.
I think you could even use CY-yellow slip and utility bill all year around. Just stay only few days per year in CY so you break active the 60day rule. When you stay less than 60days per year in CY you should not be taxed in CY at all .
But you still have a tax number, utility bill and apartment...
The tactic is that:
You are Panamian residend who is pretending to live in CY.
I don¨t know about how much money you talk and manage....
But here is my recomendation:
Go back to EU in order to get any utility bill ( CY, PT, UK ). Use the EU utility bill + spanish passport to open accounts with best options in EU, UK, CH etc.
Than do not stay more that a 1-2 months in EU and cancel utility bill contracts. Make your money movements and go back to Panama.
I think you could even use CY-yellow slip and utility bill all year around. Just stay only few days per year in CY so you break active the 60day rule. When you stay less than 60days per year in CY you should not be taxed in CY at all .
But you still have a tax number, utility bill and apartment...
The tactic is that:
You are Panamian residend who is pretending to live in CY.
It is very easy to get even as a tourist in EU an utility bill. Just rent a crappy Airbnb/ Flat and ask the owner if you can order electricity , water, internet on your name during the time of your holiday stay. In PT for exampel they don t check ownership of house when you just order internet line...
Leave the country after 2 months, cancel contracts, cancel rental contract and you still have fresh utility bill for 90 days legally.
Leave the country after 2 months, cancel contracts, cancel rental contract and you still have fresh utility bill for 90 days legally.
SQ + Silver prepaid card or Silver multicurrency credit card, for Panama it is good solution, you could use it for daily use.
If you oppen trading account, there are not inactivity fee and you have bank account + card.
Dukascopy it's fine, but you should raise the limits.
How is bitcoin taxation in Panama ?
If you oppen trading account, there are not inactivity fee and you have bank account + card.
Dukascopy it's fine, but you should raise the limits.
How is bitcoin taxation in Panama ?
Crypto is tax free on Panama at least for the moment (planning on a new law but probably that takes a couple of years). I don´t need any credit card, i have a few, only a bank account. Thanks all for the advice. I try to verify SQ on Monday and see how it works. I could give a try to Dukascopy too.
I use Revolut but only for my day to day things and i have my Card from a local bank. I received CRO credit card but still not used but looks good
Hi again! I´m going to made an update of the situation to see if someone have the same issues or the info is helpfull for anyone at the same situation. I´m on the process to open 3 bank acocunts/EMI but for the moment nothing is clear
-Swissquote: I made the video KYC and send all the docs but still waiting for 2 weeks with no answer (status of the account
ending)
- Dukascopy: KYC and the account is working but ridiculus limmits (2000$ per quaterly WTF). When i ask to increase the limits I send all the docs (included my tax report) but i still waiting for more than 10 days with no answer
- Spectrocoin: A little progress. At least i can claim for the IBAN and now i´m in process but everything is so so slowly ( near 5-6 weeks waiting for it). Thanks to Gediminas at least I could advance a little on this
- I try to contact with a lot of other options (FidorBank, Advcash, Wirex, Verfico, Connectpay, B2Bpay, tastra, paysera, Genome...) but all of them have at least one problem (No accept Panamenians, not personal IBAN or not cryptofriendly)
Looks like incredible to be that hard to create a personal bank account, having my official residence here in Panama, having my tax reports from 2020, and not having any bussinees (that i can understand could be more complicated)
Any suggestion or available solution that not implies move to other country?
-Swissquote: I made the video KYC and send all the docs but still waiting for 2 weeks with no answer (status of the account
ending)- Dukascopy: KYC and the account is working but ridiculus limmits (2000$ per quaterly WTF). When i ask to increase the limits I send all the docs (included my tax report) but i still waiting for more than 10 days with no answer
- Spectrocoin: A little progress. At least i can claim for the IBAN and now i´m in process but everything is so so slowly ( near 5-6 weeks waiting for it). Thanks to Gediminas at least I could advance a little on this
- I try to contact with a lot of other options (FidorBank, Advcash, Wirex, Verfico, Connectpay, B2Bpay, tastra, paysera, Genome...) but all of them have at least one problem (No accept Panamenians, not personal IBAN or not cryptofriendly)
Looks like incredible to be that hard to create a personal bank account, having my official residence here in Panama, having my tax reports from 2020, and not having any bussinees (that i can understand could be more complicated)
Any suggestion or available solution that not implies move to other country?
Hi, 10 days and 15 days is a long time, I have a friend in Swissquote waiting like you.
Very bad customer service, but same with Wirex, Monese, from experiences of friends.
I think that to be at relax in a bank or broker, customer service has to work well.
They excuse themselves that they have a lot of requests and they are late, but the solution is to hire more staff.
Regards
Very bad customer service, but same with Wirex, Monese, from experiences of friends.
I think that to be at relax in a bank or broker, customer service has to work well.
They excuse themselves that they have a lot of requests and they are late, but the solution is to hire more staff.
Regards
No news. A complete disaster. I send Dukascopy tones of docs but no answer for increasing the limits. Swissquote i dont have even and answer. Spectrocoin a complete shame too for personal IBAN.
Can you imagine to setup a Dubai Company that grants you the Residence Visa and Emirates ID?
Swissquote has even a representative office in Dubai.
Don't get me wrong Panama is a nice place to live maybe but one of the biggest red flags when it comes to banking.
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