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Best way to transfer low 6-figure out of Kyrgyzstan?

R

Runway

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Oct 25, 2018
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#1
Does anyone have a suggestion of what would be the best way to get a 2-300k $ amount out of Kyrgyzstan where it is currently parked at an intermediary ?
Destination South East Asia, private account (preferably) or crypto or company (less preferred). Any currency

Origin of these funds is a transaction in Russia, obviously I don't want to trigger scrutiny on the origin of funds given the current situation
 
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#2
Runway said:
Does anyone have a suggestion of what would be the best way to get a 2-300k $ amount out of Kyrgyzstan where it is currently parked at an intermediary ?
Click to expand...

On horseback.

Runway said:
Destination South East Asia, private account (preferably) or crypto or company (less preferred). Any currency

Origin of these funds is a transaction in Russia, obviously I don't want to trigger scrutiny on the origin of funds given the current situation
Click to expand...

CNH (International Yuan) would be best but too many sanctions around anything Russia related and you have not explained what type of transaction you did which might turn out to be outside scope of sanctions in best case. I mean anything that could be in breach of US or EU sanctions best to avoid totally and I cannot offer any advice in such a case.
 
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#4
Martin Everson said:
CNH (International Yuan) would be best but too many sanctions around anything Russia related and you have not explained what type of transaction you did which might turn out to be outside scope of sanctions in best case. I mean anything that could be in breach of US or EU sanctions best to avoid totally and I cannot offer any advice in such a case.
Click to expand...
Enterprise Software sales, in fact the contract was signed years ago before everything started, not strictly subject to sanctions, but nowadays everything is considered pretty much the same way.
Now a few intermediaries involved, including me, making even more difficult to provide a simple linear story of the deal.

I was also thinking of CNH sent to Bank of China Malaysia/Singapore, but I believe receiving it on a personal account may trigger some scrutiny.
 
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#5
Runway said:
Enterprise Software sales, in fact the contract was signed years ago before everything started, not strictly subject to sanctions, but nowadays everything is considered pretty much the same way.
Now a few intermediaries involved, including me, making even more difficult to provide a simple linear story of the deal.
Click to expand...

The sanction situation changes each day. Latest I read (13 June 2024) is below :confused:.

hongkongfp.com

HK firms hit by US sanctions for supporting Russia's ‘war economy’

At least 21 Hong Kong-based companies and four people associated with them were among hundreds hit by new US sanctions.
hongkongfp.com hongkongfp.com

--- quote start

“We are increasing the risk for financial institutions dealing with Russia’s war economy and eliminating paths for evasion, and diminishing Russia’s ability to benefit from access to foreign technology, equipment, software, and IT services,” US Secretary of the Treasury Janet Yellen said.

--- quote end


Runway said:
I was also thinking of CNH sent to Bank of China Malaysia/Singapore, but I believe receiving it on a personal account may trigger some scrutiny.
Click to expand...

100% don't send anything to Singapore. No idea what to suggest here at moment.
 
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#6
Martin Everson said:
The sanction situation changes each day. Latest I read (13 June 2024) is below :confused:.

hongkongfp.com

HK firms hit by US sanctions for supporting Russia's ‘war economy’

At least 21 Hong Kong-based companies and four people associated with them were among hundreds hit by new US sanctions.
hongkongfp.com hongkongfp.com

--- quote start

“We are increasing the risk for financial institutions dealing with Russia’s war economy and eliminating paths for evasion, and diminishing Russia’s ability to benefit from access to foreign technology, equipment, software, and IT services,” US Secretary of the Treasury Janet Yellen said.

--- quote end




100% don't send anything to Singapore. No idea what to suggest here at moment.
Click to expand...
your initial suggestion has been good. Horseback with a bunch of benjamin paper. The rest is all way too murky esp since he did not say which one country of southeast asia he wants it to go to.
 
#7
JackAlabama said:
your initial suggestion has been good. Horseback with a bunch of benjamin paper. The rest is all way too murky esp since he did not say which one country of southeast asia he wants it to go to.
Click to expand...
Agreed Singapore is not a candidate, possible options with personal bank accounts are in Malaysia, Vietnam and potentially Thailand and Cambodia.

I am aware that everyone is afraid of secondary sanctions, that's why I am saying anything is considered like sanctioned nowadays, so anyone that would require to know the origin of the funds won't work.
I am also considering opening personal account in Kyrgyzstan, parking funds there and figure out how to transfer them out little by little exploring different ways.
 
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#8
Runway said:
Agreed Singapore is not a candidate, possible options with personal bank accounts are in Malaysia, Vietnam and potentially Thailand and Cambodia.

I am aware that everyone is afraid of secondary sanctions, that's why I am saying anything is considered like sanctioned nowadays, so anyone that would require to know the origin of the funds won't work.
I am also considering opening personal account in Kyrgyzstan, parking funds there and figure out how to transfer them out little by little exploring different ways.
Click to expand...
need to secure some form on long term visa first id say. Then open the accounts.
 
#10
I think that there would be a few acceptable options but it depends on what fits your need.

Theoretically, I think it would be possible to incorporate in KZ and use a reliable bank there like Jusan for transferring the funds. It is less difficult to work with the funds once they are there, but it is more difficult to prepare a way for the funds to be injected into that new entity.

Otherwise, it could be better to focus on less Western-involved currencies. For example, CNH as suggested by @Martin Everson. Otherwise, possible candidates can be ZAR or AED. But for those you would need to work with the respective local countries, which again adds difficulty.

Depending on your nationality and residency, it could be arranged for an account to opened in a European jurisdiction like Hungary or Serbia, where the receiving of funds from the intermediary would be less complex.
 
#14
Runway said:
Does anyone have a suggestion of what would be the best way to get a 2-300k $ amount out of Kyrgyzstan where it is currently parked at an intermediary ?
Destination South East Asia, private account (preferably) or crypto or company (less preferred). Any currency

Origin of these funds is a transaction in Russia, obviously I don't want to trigger scrutiny on the origin of funds given the current situation
Click to expand...
Should pretty easy to exchange it in bishkek for crypto . If you can get it in cash or also via bank transfer (crybex or 001k).
 
#17
Runway said:
Does anyone have a suggestion of what would be the best way to get a 2-300k $ amount out of Kyrgyzstan where it is currently parked at an intermediary ?
Destination South East Asia, private account (preferably) or crypto or company (less preferred). Any currency

Origin of these funds is a transaction in Russia, obviously I don't want to trigger scrutiny on the origin of funds given the current situation
Click to expand...
You need to use Dominican Banks.

If you need in detailed explanation, DM.
 
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#20
Sols said:
No need for explanations in DMs, unless you're selling/advertising/promoting something and trying to get banned?
Click to expand...
I think the main problem with posting stuff like this in public is that
  • The person you are recommending may not be very happy to have his direct contact in a public forum.
  • A solution only works as long as there aren't 1000 people contacting them each month, and most often with morally questionable intentions.
That's why I only refer contacts in private messages (for free).
 
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