Which non-CRS country would you recommend for a bank account ?

[JohnLocke]

The only “country” that will never sign up is Northern Cyprus , they don’t even care where the money is coming from .. I just answered my own question

have been there and I would personally not bank there if it is possible at all.

 

[Piano]

have been there and I would personally not bank there if it is possible at all.

What are your reasons to say that ?

 

[Jerry1911]

In 2016 I got a letter from my taxman (EU) about interest and dividend income made in USA in 2014 and 2015. I was never a resident, nor citizen of USA. I only had personal brokerage account there and the amount in question was a few hundred USD.

Their letter started with that friendly five-letter word called "FATCA".

Which country are you from?

 

[Piano]

have been there and I would personally not bank there if it is possible at all.

Turner little is offering a corporate bank account in N-Cyprus ..can’t be that bad then..

 

[John73]

Hello, can somebody suggest any EMI / Bank name from Northern Cyprus, Georgia or any other NON-CRS country allowing to apply online? Thanks

 

[RexS9999]

How about just NOT evading taxes? Then there would be no problems with CRS.

Yeh but what if you live in a country ruled by thieves, criminal gangs. This is the way most people in the world live. They pay tax and it ends up buying expensive homes in London. A guy just trying to make an honest living and supporting his family has his money stolen. That is why some try to evade paying tax. What is wrong with that?

 

[Marie Manila]

Hello, can somebody suggest any EMI / Bank name from Northern Cyprus, Georgia or any other NON-CRS country allowing to apply online? Thanks

Georgia will join CRS soon.

As far as I know, Northern Cyprus does not allow outgoing SWIFT transfers for foreigners.

 

[csp dubai]

open a non resident account in north cyprus is quite a challenge , you need nowdays to have resident permit, in order to have that you need to own a proprety

 

[Walter Rowe]

Turner little is offering a corporate bank account in N-Cyprus ..can’t be that bad then..

wouldn't touch that with a 10ft barge pole
Money goes in - doesn't come back out

 

[csp dubai]

north cyprus bank are good , but do not try launder money palce is too small

 

[csp dubai]

there is several trust companies , register in the free zone , they can open trust accounts , i will not give anyname becuase i will be accused to promote them, i just can say i use 2 of hem and evething is fine, in trnc rules of law exist and is quite strong is not a banana republic

 

[Forester]

Georgia will join CRS soon.

To be exact, they announced to start reporting in 2023 (AFAIK).

 

[JohnLocke]

there is several trust companies , register in the free zone , they can open trust accounts , i will not give anyname becuase i will be accused to promote them, i just can say i use 2 of hem and evething is fine, in trnc rules of law exist and is quite strong is not a banana republic

No you won't as long as it isn't your service you can post.

 

[fortunespeculator]

Here you go [email protected] ,greets , bro

Had sent an email to you for collaboration,did you get it Piano

 

[csp dubai]

north cyprus is good statsh away your funds , and enjoy them but is not good if you want to do some trade finance , the centarl bank not like too much in out operation

 

[GCM]

north cyprus is good statsh away your funds , and enjoy them but is not good if you want to do some trade finance , the centarl bank not like too much in out operation

which trust companies did yyou use, which banks and which company is your tax consultant?

I have an offshore in freeport as well and I'm disappointed with my tax consultant and have to change him asap.

 

[Peter Cooper]

Decent banking options in a non-CRS country ?

still safe this strategy from the tax man ?

I would not recommend you to open a bank account in non-CRS countries at all. If you look at this list, you can understand that these countries are not respectable from the point of view of the banking sphere. If you still want to save money on taxes, then choose a jurisdiction with a loyal tax burden (Cyprus, Hong Kong). Estonia is loyal to IT startups too.

 

[jafo]

No , not yet , I will go there to check things out

here some interesting info, there are more than 10000 british expats living there , creditwest bank even has an expat division

http://www.t-vine.com/how-to-open-a-bank-account-in-north-cyprus/

So, did you go?
What's your experience with banking in Northern Cyprus?
Are you satisfied?
Do you feel that your money is secured?

 

[Forester]

So, did you go?
What's your experience with banking in Northern Cyprus?
Are you satisfied?
Do you feel that your money is secured?

Just to add, I know about one specific subject at the TRNC bank market – Turkish Bank Group. Native at TRNC (established 1901), having member banks at TRNC, Turkey and UK as well – and having as a member Allied Turkish Bank IBU Ltd <=> dedicated offshore bank. Seems interesting; but honestly – I'd be afraid of political instability (in the long-term perspective) of TRNC.

And just for the record, there is also a branch of Halkbank at TRNC. (Halkbank is at Northern Macedonia, too; and AFAIK they are open to non-residents.)

 

[jafo]

Just to add, I know about one specific subject at the TRNC bank market – Turkish Bank Group. Native at TRNC (established 1901), having member banks at TRNC, Turkey and UK as well – and having as a member Allied Turkish Bank IBU Ltd <=> dedicated offshore bank. Seems interesting; but honestly – I'd be afraid of political instability (in the long-term perspective) of TRNC.

And just for the record, there is also a branch of Halkbank at TRNC. (Halkbank is at Northern Macedonia, too; and AFAIK they are open to non-residents.)

Thank you! This is extremely helpful!