On/Offshore corporte account to park cash

[ikan]

Need to diversify On or Offshore. Looking to park 6 figure number in AAA type bank.

Savings are in Euros parked in EU bank from a legit business in EU state, clear cash, business tax paid.

New On or Off shore account will be fully declared to the tax authority of the business.

No need debit card. No need transfer or recieve funds from 3rd parties or customers.

Looking for cheap banking fees to park cash at iddle in solid-safe bank.

Please, preferably no bank in Italy, France, Spain, UK : fees too expansive, drive me paranoïd, and are all BBC type at best !

Remote opening is a must, but travel possible.

Thank's for any advice

 

[reesek]

can get you an account directly with central bank, the downside is that they will charge you 0.5% per year overnight

 

[ikan]

thank's Reesek, I confirm the down side is beeing charged that much. With comparable yearly cost /fees I can open several accounts with EU bank with each 100K funds deposit waranty.

 

[clemens]

You want to put some of the money in ETF's & Stocks the other in Crypto, BTC and so forth.

 

[DGTLOTC]

Montenegro would be potentially a good option they open via introducers though - you could try to approach some banks directly though over there and see the results no harm

 

[reesek]

Look it cannot be Cheap. Solid-safe. Remote - all together
You have to be flexible.

Safe in my view means it's either NOT a bank or a bank in Switzerland like Julius Baer or UBS
But they are totally not cheap with transactions costing multiple hundreds of euros.

The optimal solution (cheap,safe,remote) is to store money with brokerage accounts then as they are safer than banks and you have an option to invest in something you feel comfortable with

 

[ikan]

@ Clemens : no time for Stocks, and don't risk Crypto... Basicaly park years of savings after all tax paid in EU. Dilema => that business is 5 figure number turn over per year. It's hard for me to put at risk the 6 figure number I want to park.

@ EUR99 : thank's for the Tip. already know MTN : banking is cheap and easy to open with no introducer. I was there with 2 personal accounts when Atlas Banka chrased down (=> and easily get full money back, thank's to MTN deposit warranty). Still today have acc. there. For privacy I don't want to mix pro and perso banking in same juridiction.



•••••••••• Montenegro •••••••• Free Tip for Community / depositing bank notes •••••••••••••

Please Admin : Erase the following if needed, or warn blame me.

You can depotit 20 / 30 ke bank notes at any counter of most banks there. Just declare "personal savings".
They are happy !
Unfortunatly : Be warned there are some traps and risks banking in MTN + traps regarding CRS nowdays and tomorrow.

 

[ikan]

@ Reesek : thank's for your insight. Unfortunatly the 6 figure isn't sufficient for Swiss bank and they are too expansive.

Brokerage account : looks like I need to learn about it. Or my english skills limited (brokerage doesn't speak to me)

 

[JohnLocke]

Please Admin : Erase the following if needed, or warn blame me.

Why would I want to do that?

 

[Tax Cow]

Deposit at 6 figures, with a requirement to open remotely, and relative safety... I'd go with a smaller offshore branch of a "too big to fail"

Look into Barclays International based in IoM or Channel Islands. These island branches are specifically targeting deposits and wealth management, whereas they are low-tier trash for international payments due to AML/CFT paranoia. Some Guernsey/Jersey/IoM banks outright ban 3rd party payments.

 

[ikan]

@Admin : I wasn't sure if i was off limit with the rules here (I'm new

@xzars : intersting and wise. I need to dig out. May you possibly know what is the minimum or average 6 figures for those offshore branches ?
That (my) business used to be Barcalays wealth management in southern Eu for decades, but Barcalays sold there assets one year ago to another brand new Privat Bank !

 

[Tax Cow]

May you possibly know what is the minimum or average 6 figures for those offshore branches ?
That (my) business used to be Barcalays wealth... to another brand new Privat Bank !

Afaik, high 5 figures will get you through the door with 90%+ of those island branches. Average entry barrier is just about 50K, and 25K for Barclays International. Monthly fees are waived or reduced at low 6 figures.

 

[clemens]

@ Clemens : no time for Stocks, and don't risk Crypto... Basicaly park years of savings after all tax paid in EU. Dilema => that business is 5 figure number turn over per year. It's hard for me to put at risk the 6 figure number I want to park.

If you did back that time you have been a multi-millionaire now.

I would love to hear from you how your investment went out