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Remote bank account opening in non AEOI/CRS country?
- Thread starter davideu
- Start date
Puerto Rico bad idea for medium to long term. Even Santander bank operate an offshore non-retail bank there with billions running through it to for loan operations in Europe...hummmmm ;-)
In terms of other non AEOI countries you have the following to choose from:
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
But the list will get smaller in future.
1. Avoid Macedonia it can be problemtic as soon you wan't transfer money out of country because local regulations.
Fly to Montenegro or Serbia, open a few accounts. It should not take more then 20 minutes to open a account per Bank, very simple paper work some bank also offer you it to download which will make the process more easier.
2. Both countries don't participate in AEOI and me or any of my friends had any Issues so far, this regarding Tax.
And that youre willing to personally go there will help you much, as non-resident mostly a higher employee (it's often a person with a own office nothing more) will open the account for you, take her his visit card, have a relaxed/friendly talk and keep a contact to this person.
Incoming Wire Transfer ($1 - 12,500): $ 16.00
Outgoing Wire Transfer ($1 - 12,500): $ 30.00 SHA or $ 50.00 OUR.
PS: Offshore banks are investment banks and not for day-to-day operations.
PS: Offshore banks are investment banks and not for day-to-day operations.[/QUOTE]
Yes, you're right, they just want the whales, which is not what I had understood
So, my bad ... but everyone else needs to know.
This isn't true --> https :// europacbank.com/expats/ (remove the spaces.)
Yes, you're right, they just want the whales, which is not what I had understood
So, my bad ... but everyone else needs to know.This isn't true --> https :// europacbank.com/expats/ (remove the spaces.)
Does this work on a walk-in basis? Do I need some explanation, proofs, reasons? Is there some red flag why the bank would reject me?
I'm an EU citizen and it would be personal account.
Yes it does.
I would suggest to take a local person with you, it makes it much easier regarding the language but it surely work without too.
I never needed some kind of proof or reasons, except a ID document (regarding this there exist some tolerance...). Depending on your goal, some privacy options can give probably some advantages.
I don't know about red flags, even there was not a problem to cash in some amount of money, which would be reason enough in some western countries to treat you as a criminal but there you got then a personal account manager.
Yes that's called aiding money laundering. That's exactly why the bank is screwed now, why the US DOJ is after them and why correspondence banks kept dumping them. I have not even mentioned MasterCard dumping them.
They are still operating though. It takes 15 days to execute an outgoing payment though ... I am afraid that once everyone starts withdrawing money at once, they will go broke.
Let's hope they earned enough from crazy transactions fees throughout the years
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