Remote bank account opening in non AEOI/CRS country?

[Martin Everson]

You can find a list of countries that have not committed to AEOI below

https://www.oecd.org/tax/transparency/AEOI-commitments.pdf

Countries that have not set date for AEOI.

Armenia, Benin, Botswana, Burkina Faso, Cambodia, Cameroon, Chad, Côte d’Ivoire, Djibouti, Dominican Republic, Ecuador, Egypt, El Salvador, Former Yugoslav Republic of Macedonia, Gabon, Georgia, Guatemala, Guyana, Haiti, Jamaica, Kazakhstan, Kenya, Lesotho, Liberia, Madagascar, Mauritania, Moldova, Morocco, Niger, Papua New Guinea, Paraguay, Peru, Philippines, Rwanda, Senegal, Tanzania, Thailand, Togo, Tunisia, Uganda, Ukraine

 

[Martin Everson]

If you find any bank in Puerto Rico that opens remote please post here

I think the below does.

AndCapital Bank

There are in fact a few others that do so also other than EPB

 

[diablo]

Thank you very much for the link I will have to try them.. cross fingers

 

[Jean Dupuis]

Hello i find this 3 agency who can open bank account in Puerto Rico :
One Offshore Company - Offshore company formation - Offshore company set up
Offshore Company Formations 24•7 | Incorporate Offshore Companies | Company Offshore Registration | Buy Companies Offshore
SFM Offshore | Offshore Company Formation, Incorporation Services

From what i find about them was not very good...

So i guess the better option is to go straight the bank like :
Offshore Banking in the Caribbean | Security and Stability
Thank by advance

 

[peterebcn]

@davideu
If you check my posts you will find some proposal, generally ME and RS. Usual you will give a POA to a attorney/trustee who will open a Bank account in your name, let's name this Remote opening.
I personal have only good experience with Banks in both countries and actual all the time I would prefer them to any CY/BZ Bank plus you got as benefit no AEOI.

Hello superman.

I´m trying to open an account in MACEDONIA, probably I will need to fly there to open.
I will like to ask you to things if you are so kind to answer to me:
1. Withch bank in Skopje do you recommend me to go? It would be a private account, just to hide some money I receive.

2.Is it completly sure that they don´t share any information with the other Europeean contries??
Thanks in advanced:

 

[countryfree]

I would never consider opening a bank account remotely in a foreign country. I'm surprised some people are willing to do this. Come on, flying is cheap, and it makes you feel much safer to walk into a building, and to talk to real persons.

 

[peterebcn]

I would never consider opening a bank account remotely in a foreign country. I'm surprised some people are willing to do this. Come on, flying is cheap, and it makes you feel much safer to walk into a building, and to talk to real persons.

Thanks countryfree.
I agree with you, but I do need the whole information, just to take a good desition about that. I have been sending emails to some banks in Macedonia, but is difficult to get the answer from them. Only two has asnwered.

The main point about it is if all the bank in Macedonia are not part of the CRES - AEOI interchange of information with other countries in Europe.
The other point is about having a debit card from those accounts. Are they really "black" for my countrie tax authorities?
@countryfree do you have contact with some bank in there you could recommend me, please?
I have already checked the way to arrive by plane , and it´s not difficult ...
Thanks in advanced.

 

[Milky Moon]

Montenegro is preferable over Macedonia, which hasn't been that stable lately.

 

[peterebcn]

Yesterday, after arranging a call meeting with an agent of Euro Pacific bank, after 15 minutes of questions and sharing information ( they really wanted to know who I am, where are the incomes coming from, properties., how much was I supposed to use every month of the money I was about to deposit in the account, How much Was I suppposed to be spending through the debit card everymonth.......) I received an email, kindly refusing to open an account in his bank.

HERE YOU HAVE IT

Dear Peter,
It was very nice speaking with you on the phone.
I have submitted the application to our Compliance team and unfortunately, it was declined as a result of their internal review process.

Kindly note that the intended account activity is not allowed in a personal account. We recommend setting up a Company and applying for a Corporate account, in order to receive the intended payments.

In addition to that, you could also re-apply later for two personal accounts (one for yourself and another one for your wife), to facilitate transfers from your Company, if so you wish.

Card fees for POS (point of sale) use are paid by the customer.

You have a very interesting profile, but we are unable to help for now.
Thank you for considering Euro Pacific Bank Ltd for your business.

Let me know if I can be of any further assistance.


Many thanks!
Kind regards,


Marcelo Persano / Onboarding Specialist
+1-888-527-4041x217 / [email protected]
Skype: mpersano-epb / Schedule a call: Online appointment scheduling
Euro Pacific Bank Ltd.
53 Palmeras St, 10th Floor, San Juan 00901, Puerto Rico
www.europacbank.com / tel: +1-787-280-9766 / fax: +1784-453-2085
This e-mail message may contain confidential or legally privileged information and is intended only for the use of the intended recipient(s). Any unauthorized disclosure, dissemination, distribution, copying or the taking of any action in reliance on the information herein is prohibited. E-mails are not secure and cannot be guaranteed to be error free as they can be intercepted, amended, or contain viruses. Anyone who communicates with us by e-mail is deemed to have accepted these risks. Euro Pacific Bank is not responsible for errors or omissions in this message and denies any responsibility for any damage arising from the use of e-mail. Any opinion and other statement contained in this message and any attachment are solely those of the author and do not necessarily represent those of the company.







After that I think I´m flying to MACEDONIA to open an account, if I´m able to get the answers about the characteristics of the accounts in the differents banks I have been checking, or , as I have to stay there for 3 days, because of my way back home flight, I will be going arround the differents banks in the capital, Skopje.
At the moment it seems that the best one could be a filial of the SOCIETE GENERAL,

I know there is another bank in Puerto Rico, opening accounts remotly(ANDCAPITAL I think) but no answer yet to the mail I sent.

Any idea will be welcome at all.

 

[Internationaloff]

Yesterday, after arranging a call meeting with an agent of Euro Pacific bank, after 15 minutes of questions and sharing information ( they really wanted to know who I am, where are the incomes coming from, properties., how much was I supposed to use every month of the money I was about to deposit in the account, How much Was I suppposed to be spending through the debit card everymonth.......) I received an email, kindly refusing to open an account in his bank.

HERE YOU HAVE IT

Dear Peter,
It was very nice speaking with you on the phone.
I have submitted the application to our Compliance team and unfortunately, it was declined as a result of their internal review process.

Kindly note that the intended account activity is not allowed in a personal account. We recommend setting up a Company and applying for a Corporate account, in order to receive the intended payments.

In addition to that, you could also re-apply later for two personal accounts (one for yourself and another one for your wife), to facilitate transfers from your Company, if so you wish.

Card fees for POS (point of sale) use are paid by the customer.

You have a very interesting profile, but we are unable to help for now.
Thank you for considering Euro Pacific Bank Ltd for your business.

Let me know if I can be of any further assistance.


Many thanks!
Kind regards,


Marcelo Persano / Onboarding Specialist
+1-888-527-4041x217 / [email protected]
Skype: mpersano-epb / Schedule a call: Online appointment scheduling
Euro Pacific Bank Ltd.
53 Palmeras St, 10th Floor, San Juan 00901, Puerto Rico
www.europacbank.com / tel: +1-787-280-9766 / fax: +1784-453-2085
This e-mail message may contain confidential or legally privileged information and is intended only for the use of the intended recipient(s). Any unauthorized disclosure, dissemination, distribution, copying or the taking of any action in reliance on the information herein is prohibited. E-mails are not secure and cannot be guaranteed to be error free as they can be intercepted, amended, or contain viruses. Anyone who communicates with us by e-mail is deemed to have accepted these risks. Euro Pacific Bank is not responsible for errors or omissions in this message and denies any responsibility for any damage arising from the use of e-mail. Any opinion and other statement contained in this message and any attachment are solely those of the author and do not necessarily represent those of the company.







After that I think I´m flying to MACEDONIA to open an account, if I´m able to get the answers about the characteristics of the accounts in the differents banks I have been checking, or , as I have to stay there for 3 days, because of my way back home flight, I will be going arround the differents banks in the capital, Skopje.
At the moment it seems that the best one could be a filial of the SOCIETE GENERAL,

I know there is another bank in Puerto Rico, opening accounts remotly(ANDCAPITAL I think) but no answer yet to the mail I sent.

Any idea will be welcome at all.

Personal or corporate bank account?

 

[peterebcn]

Personal account. It seems they are more likely of Corporate bank account. .........

 

[Internationaloff]

Personal account. It seems they are more likely of Corporate bank account. .........

Personal account for business?

 

[countryfree]

This e-mail message may contain confidential or legally privileged information and is intended only for the use of the intended recipient(s). Any unauthorized disclosure, dissemination, distribution, copying or the taking of any action in reliance on the information herein is prohibited. E-mails are not secure and cannot be guaranteed to be error free as they can be intercepted, amended, or contain viruses. Anyone who communicates with us by e-mail is deemed to have accepted these risks. Euro Pacific Bank is not responsible for errors or omissions in this message and denies any responsibility for any damage arising from the use of e-mail. Any opinion and other statement contained in this message and any attachment are solely those of the author and do not necessarily represent those of the company.

You should not copy private bank messages like this...

Also note that Macedonia and Montenegro aren't in the AEOI group but they both asked to join the EU, so they may be part of AEOI some day. Don't panic, as this may take years, and you'll be warned in advance, but you must be ready to move your funds again.

 

[peterebcn]

Thanks for the advices.
There are not private information in the post I shared, just my name an the agent works´name.
About the possibility of star being a part ot the EU I knew it, but as you said, it will take a long trip....
I guess we are going to be some kind of nomad people,,,,, looking for the best place to be in,,, looking around always finding it..

Cheers.

 

[EricVN]

Update,

any news about Puerto Rico, Non AEOI?
tks

 

[Martin Everson]

There is around 44 offshore banks in Puerto Rico and 22 of them were incorporated in the last 2 years. Considering banks in other offshore territories particularly British Crown Dependencies (Cayman Islands, Isle of Man etc etc) have been closing at an alarming rate it is clear that something is wrong here. Why has Puerto Rico's offshore banking industry doubled specifically in the last 2 years?????

Answer is avoidance of AEOI/CRS. This makes Puerto Rico a giant bullseye for global tax authorities. I expect blacklisting or a major clamp down on Puerto Rico to come. The last thing a bankrupt Puerto Rico wants is problems with the OECD. So be careful before putting any money there. These banks such as EPB are only targeting clients who want to avoid taxation. They proved this by moving from St Vincent to Puerto Rico a month before AEOI was due to start in St Vincent. They also make no effort to ensure their clients are tax compliant in their home country which is a big red flag and bad business in 2018.

Definitely walk away from Puerto Rico while you still can. Not being a AEOI signatory does not stop information sharing. It just means its not automatic. Don't be tricked by banks selling you false hope. Speak to customers of UBS who were sold banking secrecy only to have UBS hand over 4000+ client names by enacting a rushed in law despite banking secrecy being in place. Puerto Rico is no Switzerland and Trump wont be quick to defend them either.

 

[Okanda Fernando]

Hey,

I've read an article on a website, North Cyprus is not supporting for the CRS.

 

[Martin Everson]

Yes this is true

The Turkish Republic of Northern Cyprus (TRNC) is an interesting anomaly. There is no single authority representing the Turkish Cypriots and Greek Cypriots of the Northern Republic. So nothing could be agreed or will be agreed in regards to CRS.

The OECD can do nothing about the situation without risking conflict with Turkey (NATO Member) as the dispute runs deep. I suspect banks around the world may in future cut correspondence banking services to banks in TRNC like they did to some Caribbean countries.

 

[EricVN]

@martin

So Puerto Rico not a good idea?

do you have an opinion about a non AEOI country to opening a bank account?

Puerto Rico seems like only the "new" one...

 

[icecold]

Is there a bank in a non AEOI/CRS jurisdiction where you can open a personal bank account remotely?

did you find one? I'm curious to know if there exists such, thanks