Well I am a Canadian who is in the process of severing my ties with Canada who has recently obtained residency in Paraguay, and as stated above, the banks here are full of inconveniences to say the least.
I am just exploring options, as to where to get decent banking for me personally and for some USA LLC's. I am a
Canadian citizen, but I would prefer to diversify away from Canada. I am also exploring the Philippines this winter to check out the scene for residency as well, and I am curious as to why someone said their banks might be ok, but not for USD? Also, I am travelling to Georgia this summer and working my way back through Turkey, and through S/E Europe and up the Balkans, and was just curious as to any of these countries had good options for banking that I could investigate while travelling.
I am retired fairly young, so I travel for the majority of the year. My ideal path in life is to be semi nomadic with 2-3 places to call semi home, and I am looking for bank accounts that offer me some
privacy (although I know the days of complete banking secrecy are long gone).
I guess if I had to explain things, I don't trust Canada to come looking for money down the road as we are so deeply in debt, (think start taxing by
citizenship) and if I can break the money trail once I leave, all the better. But, also I would like to keep my wealth out of the reach (or knowledge) of countries that I might be resident of for tax purposes, that perhaps could in the future decide to expropriate things. Yes, I know I am a TAD paranoid, but it helps me sleep better at night.
How I want to structure things...
Citizenship: Canada
Residency: Territorial tax jurisdiction like Paraguay or perhaps the Philippines, or another (ideas?)
Create USA LLC's to keep my assets at arms length (brokerage accounts, home trusts, etc)
So that leaves me banking. I still have a hard time navigating or wrapping my brain around what solutions would be best for me. There is nothing illegal about my wealth, except a desire for some diversification and a degree of opaqueness, from future lawsuits (say a car accident, or what not) and governments of questionable morals, or changing laws. It is however interesting to read earlier that becoming a resident of a
non CRS country is just as powerful or even more so then banking in a non CRS country.
I consider myself a citizen of the world, but I know it can be a rough place, so just want to structure things to offer as much protection as possible, and of course minimize my heat score to be taken advantage of.
