Best Offshore Banking Countries
Рет қаралды 31,602
Күн бұрынThe best places to open offshore bank accounts that will give you safety, security, service, convenience, quality & diversified non-correlated risk
Is this the collapse of the banking system? Silicon Valley Bank, Silvergate, and now Signature bank in the US are all going down. What does this mean and what can we expect in the future? Is our money safe in banks?
This is the perfect time for us to talk about offshore banks and the ultimate offshore bank portfolio for the diversification of your assets. Which banks are safe? Which countries are safe to store your money? If this is what you're interested in you're at the right spot!
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Introducing Michael Rosmer, the true modern-day Renaissance man and international entrepreneur, who has been mentored under top international tax attorneys.
He is widely regarded as the foremost international tax expert for legal cross-border tax planning, with extensive experience in immigration, residency, and second citizenship for those seeking a plan B, asset protection, global offshore banking, and payment processing.
Michael leads a team of lawyers and accountants who are top experts in their respective fields. This multi-lingual, multi-national team has worked with digital nomads, entrepreneurs, and investors from 62 countries, providing practical real-world multi-dimensional solutions for their clients.
At Offshore Citizen we understand that each individual's situation is unique. Unlike most industry service providers, we do not push any particular country or solution. Instead, we analyze your individual situation and custom-tailor the best countries and strategies for you, drawing on every part of the globe.
With Offshore Citizen, you can rest assured that you are in the hands of professionals who have your best interests at heart. Let us guide you through the complex world of international tax planning, immigration, residency, and second citizenship.
Contact Michael today for a personalized consultation and take the first step towards securing your financial future.
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Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships.
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@anonymous6594 Жыл бұрын
1. Singapore 2. Switzerland 3. USA 4. South Korea 5. UAE 6. Jersey, Liechtenstein, Luxembourg, Andorra
@petruconduraru7130 Жыл бұрын
Great video Michael, thank you! What do you think about using Wise accounts, which are based in different countries?
@balimthembu2475 Жыл бұрын
Great video. As usual I always learn something new. Can you PLEASE 🙏🏾 do a video on: "Why one should never bank with ALL four South African banks!!!" I believe it will help a lot of people who are considering moving to South African permanently or by investment. And also it's help the people in South Africa by waking them up and them to see how the rest of the world see South African financial/economic system.🙏🏾🙂
@dexterspeights3484 Жыл бұрын
USA needs to learn why rich people love banking in SINGAPORE!
@KangTheDigitalNomad Жыл бұрын
🤫🤫🤫🤫🤫🤫
@302Rmack 6 ай бұрын
We understand why the rich do it….but with a $200k min. That keeps lower income out….😢
@usaslastresort1126 6 ай бұрын
@@302Rmackthat’s good. It’s truly the rich vs everyone else. I feel like if you are smart you shouldn’t pay for that.
@tinyblackmage 5 ай бұрын
Absolutely 👍🏻 so efficient
@justingriffin2546 Жыл бұрын
So nice of you Michael to answer so many questions in the comments.
@OffshoreCitizen Жыл бұрын
Thanks
@austinwheeler6234 Жыл бұрын
Great video. Love the set and the lighting.
@OffshoreCitizen Жыл бұрын
Thank you! Where do you prefer to bank?
@666mengel 8 ай бұрын
One thing to keep in mind about off-shore banking for those who hold that nice US passport - FATCA law. It requires all off- shore banks to submit the names of American Citizens holding accounts to the IRS. And, you would never know about it, until you get Audit Notice from your friendly IRS office.
@OffshoreCitizen 8 ай бұрын
This isn't restricted to the US under AEOI this happens over most of the world
@AC-wk9gh Жыл бұрын
Always appreciate your content and delivery. I’m curious to know why you didn’t mention Hong Kong. I’ve found it to be a reasonable jurisdiction over the years.
@OffshoreCitizen Жыл бұрын
Concerns over China these days in how they've treated HK makes it I'd say a tier 2 jurisdiction Also it's unclear what domestic banks you'd use to get non correlated exposure given most of the banks you'd use are branches of international banks
@harisadu8998 Жыл бұрын
@@OffshoreCitizen Don't think this is a fair characterisation. Commercial aspects in HK are totally left alone. Banking there is perfectly fine. But geopolitical risk does exist. The risk is mainly what would happen if China does something to Taiwan.
@markpelshak604 15 күн бұрын
Great Video content. What are your thoughts on Hong Kong?
@OffshoreCitizen 13 күн бұрын
Thanks! Could be a decent option. Not the easiest to open with, tho. In-person visit required and they can be very picky with whom they open for
@jozsefhomoky530 Жыл бұрын
Thank you Michael for covering this imporramt topic. Which Canadian bank would you recommend I use until I'm ready to move offshore?
@OffshoreCitizen Жыл бұрын
They tend to be pretty similar, depends what you're needing it for but Scotia seems to have some benefits such as the Passport Visa Infinite for foreign transactions
@ivalinapasse2469 7 ай бұрын
Thank you 😅
@scott1572 4 ай бұрын
Any thoughts on thai bank options
@VERTICALWisdom Жыл бұрын
Excellent content well done. Wonder if we can do a KTT transfer into Andorra?
@OffshoreCitizen Жыл бұрын
Good question, need to ask the bankers there
@StopLossLOL Жыл бұрын
Do you have any experience with Gibraltar? Would very much appreciate a Video about it. Keep up the good work!
@OffshoreCitizen Жыл бұрын
Have 2 videos on it coming up
@thor4379 Жыл бұрын
Great video. What about Gibraltar (instead of Jersey)?
@OffshoreCitizen Жыл бұрын
Could be an option, I find less banks that are as accessible there
@Diego-pc4rc Жыл бұрын
What about a bank like Banco Safra in Brazil? They have a long history of stability during durmoil and have a presence in Switzerland and US
@OffshoreCitizen Жыл бұрын
Safra is a decent bank we work with them in Switzerland. Not our favorite Swiss bank but generally quite decent.
@jayvincent8860 Жыл бұрын
Michael must consider Panama for banking!! Many high networth have banking there. I have great experience with my bank there.
@OffshoreCitizen Жыл бұрын
It's just not a very top tier jurisdiction comparatively speaking with lots of downsides. One of the better places in latam but latam tends to have generally poor banking and isn't too by latam standards. The broad Panamanian system is also much weaker.
@SeanOHanlon 18 сағат бұрын
@@OffshoreCitizen What would make the situation better for banking in Panama?
@StaceyMaGroov 3 ай бұрын
Please what are your thoughts on : 1- Canada 2- South Africa 3- Namibia 4- Malta
@athensfinest290 Жыл бұрын
Great video Michael. I have a topic that might interest me and other people for one of your next videos. If you don’t have time to invest your savings yourself, how do you find a reliable active manager for them? What would you look out for when searching for an institution to invest your money with and what type of institution would you prefer? Thanks
@OffshoreCitizen Жыл бұрын
Great suggestion. I'll see what we can create. I did a video maybe summer 2021 where I discussed this a little with a very unconventional suggestion. I'll create something else though.
@bradchristian4944 Жыл бұрын
Every financial manager I’ve ever had has lost me a lot of money. And they’ve always got a great excuse ready.
@joebloggs339 Жыл бұрын
This was the perfect topic for a video! It has been weighing on my mind. I imagine, ideally, one would want the option of getting a self-directed brokerage account attached to the bank account so that one can get some kind of return above just savings account interest while avoiding wealth management fees. I don't know how prevalent that kind of thing is in a place like Switzerland. Unless you think the wealth management fees are worth it. Great video.
@OffshoreCitizen Жыл бұрын
Sadly often wealth management fees are part of the price of doing business but yes I keep most of my money in brokerage accounts
@sorin7255 Жыл бұрын
@@OffshoreCitizen Thank you for having posted this very interesting video. Would you be interested in doing a video on the pros and cons of having a self-managed Interactive Brokers account and the possible implications depending on your country of tax residency?
@emileriksen2481 Жыл бұрын
@@OffshoreCitizen What is the basic idea in offshore banking, and what type of money would you need for it to be relevant?
@OffshoreCitizen Жыл бұрын
Emil we covered this in the video
@emileriksen2481 Жыл бұрын
@@OffshoreCitizen My bad =)
@pures1n Жыл бұрын
Hey Michael, would you talk about the new Platinum visa by Portugal? I know it's not in law yet but still a very new interesting visa concept. EU citizenship in 2 years & no language test O_O
@rad0f Жыл бұрын
They shut down golden visa, what's Platinum visa about? Never heard about it.
@OffshoreCitizen Жыл бұрын
We'll see if something comes out
@SeanOHanlon 18 сағат бұрын
My single biggest issue with Swiss banks is that they don't have numbered accounts anymore. BTW: You don't believe that either Itaú or Santander in Brazil is stable/secure enough to open an account?
@metaldata3429 Жыл бұрын
How do you feel about Japan as a banking jurisdiction? The large banks seem to be extremely well capitalized with large balance sheets. Opening accounts as a resident took a while. Got approved for Rakuten way before any of the other banks like SMBC, MUFG, Japan Post etc. I'm not sure how bureaucratic they are compared to other places. The yen has been beaten down but a lot of the banks have multi currency deposits with GBP, USD and EUR being options. What are the sorts of criteria you use to determine whether a banking jurisdiction is good or not?
@OffshoreCitizen Жыл бұрын
Japan is pretty good, not as good as Korea or Singapore but pretty good The issue is how easy it is to open as a non resident
@riskmathmoney6015 Жыл бұрын
Michael what about banks like Revolut and Wise? Are they safe at all? Can you tell me more? How much money would you keep in them?
@OffshoreCitizen Жыл бұрын
I've done a video on them in the past you can look it up. They don't actually hold your money so you don't evaluate them you evaluate the sponsoring institutions
@omar8102 Жыл бұрын
what countries would you recommend for a business or trust accounts that wouldn't have the same limitations as a personal bank account? Fx: Nominees/law firm can open them
@OffshoreCitizen Жыл бұрын
Need private banks in most cases for that & they'll still KYC UBOs
@alanabley525 Жыл бұрын
I have an account in Jersey but I'm finding it's a problem as far as estate planning. They do not accept foreign trusts and I can't put my wife as a beneficiary. It's also a problem with a will as you have to go through the local probate and need a local lawyer. Can you recommend anywhere where I can just submit a beneficiary? Thanks for you really useful channel.
@hanshint5677 3 ай бұрын
Thanks a lot for this Important Information!
@gregfed Жыл бұрын
Are Japanese banks good as well? I feel that they would be on par with Korea. Business bank account vs an individual account?
@OffshoreCitizen Жыл бұрын
There are some good Japanese banks part of the question is whether you can actually successfully open an account as a non resident
@jaime8974 3 ай бұрын
Do all these countries pay good interest on savings accounts?
@don_kandon6006 Жыл бұрын
You can get swiss account starting from 250k if you know people. Also about 25% of swiss banks do take Americans. Its all about knowing people, same way like you need ridiculous requirements in usa to get amex black card (centurion)... usually takes few years, invitation, have to spend 500k a year on their lower tier card for few years, etc, etc... yet via swiss banks you can get it in one week if you open bank account worth 1 mil. I would say stick to swiss, singapore and uae. Their currency also appreciates against usd and euro. Well uae dirham pegged to usd, but yeah, anyways, you get the gist- take into consideration the inflation. Lastly, forgot to mention scandinavian countries, very stable, i would argue norway is the safest in the world, due to politics, and having 1.3 trillion fund, only few countries in the world that technically has no debt. p.s. In general, by far #1 is swiss, due to the strong franc, safety, privacy, history etc.
@Johndoe-qn9jr Жыл бұрын
I think you mention Costa rica in one of your video as a good country to building up money can you do a comparison between maybe Dubai and Costa rica ?
@OffshoreCitizen Жыл бұрын
Sure good suggestion
@Johndoe-qn9jr Жыл бұрын
Also offcourse if you like to ralk more about Switzerland most things seems good about this country exceppt speed cameras and that its expensive, also i dont know how the handle the things you suppose to rakw in your arms a year ago or so if they was trying to force åeople or not.
@joshuabinegar4877 Жыл бұрын
Excellent… This is going into my if I ever win the lottery file. I have always considered Singapore, UAE, Switzerland, and Jersey as banking possibilities. I never thought of South Korea, or in my wildest thoughts, the United States. Being that I am American. Which I probably wouldn’t continue to be if I win the lottery… Jackpot that is, 100 million after taxes. xoxo
@OffshoreCitizen Жыл бұрын
Haha where would you relocate in case of a lottery win? :D
@joshuabinegar4877 Жыл бұрын
@@OffshoreCitizen most likely be a citizen of Malta 🇲🇹 Grenada 🇬🇩 and maybe Turkey 🇹🇷. Live in Ireland 🇮🇪? so spend what ever amount of time there for tax residency, then 2-3 months: January February in Australia, Spring in Malta, September October in US/Canada, and November December in Thailand. OR where ever you recommend
@Anonymoose66G 8 ай бұрын
@@joshuabinegar4877 @joshuabinegar4877 You'd have to renounce your US citizenship to avoid taxation and then you'd have to obtain a citizenship that allows you easy access into The USA. Furthermore Malta & Turkey wouldn't be my bet, I could not stand being in Malta for a couple months out of the year, you hear constant loud construction and car noises and it's unkept and pollutive. Ireland & Grenada are decent. Overall I'm sure there's probably a better alternative arrangement.
@geoff1971 7 ай бұрын
If a foreigner had a bank account in the US do they pay tax in the US?
@DR-ed5uw Жыл бұрын
Do you still feel the same about banks in the u.s.? I was surprised you rated it #3. I'm not weathy enough for Singapore or Switzerland.
@OffshoreCitizen Жыл бұрын
Yes US Banks are quite solid in spite of recency bias related to current affairs. Note in everything that's happened not a single depositor has lost money
@djackman9746 10 ай бұрын
Trying to buy a bank in Finland. Need assistance with a capital raise
@BlackLabelExpat Жыл бұрын
Also, where does Panama fall on the list?
@OffshoreCitizen Жыл бұрын
Quite far down, much lower quality of banking than these and much tougher to deal with, not even top in latam
@merrykrichtsamt Жыл бұрын
Great video, I agree on everything apart from what you said about Switzerland. You should read more on what is really going on in Switzerland. Many people have lost any sort of trust towards Switzerland and are moving their wealth and savings to Singapore. Switzerland is simply not anymore a safe haven. This is the hard reality. It used to be graet in the past, but not anymore.
@OffshoreCitizen Жыл бұрын
Relatively speaking I'd say Switzerland is still one of the top, hard to come up with even 4 options better
@francois3475 Жыл бұрын
Very surprising to hear you say that Cayman Islands is a "low-quality banking jurisdiction". This runs contrary to everything I've heard and read about this jurisdiction. Can you please explain what you mean? Otherwise information video.
@OffshoreCitizen Жыл бұрын
Cayman tends to suffer from two key issues 1. Island culture, which in terms of banking tends to result in sub standard service & real world privacy 2. It has virtually no local economy so has zero ability to protect you through the broader financial system, there's a reason you don't see Cayman banks on the list of the safest banks
@nonameanon9368 Жыл бұрын
5 Other questions 1) Besides treasuries (TIPS) what's better and Safer than Deposit Insurance! Any country have better than FDIC, unlimited liability; or 100 percent guarantee in a particular account? 2) What do you think of Building Societies! 3) Besides precious metals, farmland / real properties, art, wine, digital assets, intellectual property-inventions, crypto related products, Oil/Gas, exotic transportation vehicles, currencies, Ivory from elephants and championship belts-rings, olympic neck ware and plaques; what are some assets people rarely talk about but in high demand and short supply? 4) If you had to rank these 5 countries banking ( Israel, Canada, Italy, France and Germany how would you rate them? 5) What are alternatives to banks besides credit unions, Emi-Finech, Private offshore storage vaults, Crypto, Escrows, cooperatives, muni bonds / Mutuals, ETF, Indexes and Soveriegn Wealth?
@nonameanon9368 Жыл бұрын
Sovereign wealth funds of brokerages.... Sorry clicked the before I finished writing...can't edit so instead I added
@HexAlchemist5555 Жыл бұрын
Coincidentally, I've been doing a preliminary search of Singaporean banks, but not having much luck opening an account there as a non-resident, since I reside in the UAE, even though you did mention it is a friendlier jurisdiction, and thus would be easier to open a Singaporean account. Perhaps one has to be physically present in Singapore to open an account there? Also, what do you think of banking in Dominica? They're English speaking, have strong financial confidentiality laws, relatively easy to open as a non-resident, and their currency is pegged to the USD.
@OffshoreCitizen Жыл бұрын
You definitely have to be physically present & not transactional banking but higher tier banking Absolutely not to Dominica banking, very poor quality
@20kevron Жыл бұрын
Interesting
@OffshoreCitizen Жыл бұрын
Any countries you'd add to the list?
@gainz6180 Жыл бұрын
Mostly all the main canadian banks told me on phone they would open the account if i go there physically to a branch even if im not a resident and just go there as a tourist… in the video uou said they dont open to non residents/foreigners, which one is it?
@OffshoreCitizen Жыл бұрын
Not my experience but maybe something has recently changed. You can try and let us know. It's also worth noting that for international Canadian banks are kind of crap because they don't offer online wire transfers so you need to go in person much of the time, which is hugely inconvenient. This is all different at the private banking level btw
@bbrebozo6417 Жыл бұрын
Non correlated to the US seems difficult since they “tend to push rules on other jurisdictions, that they don’t follow themselves”. Which of your top options are really diversified from the US?
@OffshoreCitizen Жыл бұрын
Depends on which correlating factors you're looking at?
@bornfree8487 Жыл бұрын
Excellent point. Most of the jurisdictions mentioned in the video are unimaginative. Like you say they are answerable to the US More risk but I prefer Malaysia & Thailand
@Lex_01 Жыл бұрын
Great video! What's the best exchange to get exposed to Asia market?
@OffshoreCitizen Жыл бұрын
What kind of exposure are you looking for?
@Lex_01 Жыл бұрын
@Offshore Citizen Vietnam, Singapore, and the Philippines.
@OffshoreCitizen Жыл бұрын
Equities? Bonds? Crypto?
@Lex_01 Жыл бұрын
@@OffshoreCitizen Stocks
@rongawthorp787 Жыл бұрын
Do you plan to cover El Salvador as a potential tax haven given the new proposals? I'm interested in the safety and financial details and I know others are also. Thanks! Love your content.
@OffshoreCitizen Жыл бұрын
Haven't planned on it yet but in the future probably
@trenthansen68 Жыл бұрын
Thoughts on Mauritius?
@OffshoreCitizen Жыл бұрын
Mediocre banking at best
@robinelliot5003 3 ай бұрын
I was patently waiting for Michael to add South African banks, but he briefly mentioned Standard bank and that was it. I guess our institutions have lost their shine and appeal to foreign investors.😢
@wildanimals-qs6ho Жыл бұрын
What about Capital Security Bank in the Cook Islands?
@OffshoreCitizen Жыл бұрын
It's a pretty low quality bank and quite expensive. Not terribly risky but not a great bank
@wildanimals-qs6ho Жыл бұрын
@@OffshoreCitizen thank you
@crater721 Жыл бұрын
Are there any solid crypto on/offramp banks left?
@OffshoreCitizen Жыл бұрын
Yes a bunch depends a bit on business or personal though as well as how you're off ramping but usually I'd look at Switzerland, Singapore or the US
@Mexicotravelltd. Жыл бұрын
bianance is the best global bank till today
@gainz6180 Жыл бұрын
Can a person have a residency in UAE to open banks in singapore and uae with and have another residency in EU to open eu banks with? They wouldnt mind we have the other residency? What should we say if they ask about other residencies we may have too?
@OffshoreCitizen Жыл бұрын
Yes you can
@gainz6180 Жыл бұрын
@@OffshoreCitizen and what to say when they ask where do you pay taxes? I show uae residency to Singapore banks but show them i pay taxes in an EU country. Thats ok for them? What about for the eu banks, show them residency in eu but when they ask where i pay taxes i say UAE, they dont care? Its ok?
@OffshoreCitizen Жыл бұрын
They don't ask where you pay your taxes. They ask for your place of tax residency. The thing is what you tell them has no legal bearing. What's important is you can show a residence permit and residential address in that place. They are just checking boxes
@johnM-Jr Жыл бұрын
Im watching whats happening with the revaluation of the dinar. Its a hot topic in Iraq.
@OffshoreCitizen Жыл бұрын
How do you see it playing out?
@losttravelingbackpacker3757 Жыл бұрын
What do you think about putting US dollars in one of the Philippine owned banks as a place for safe haven to keep your dollars
@OffshoreCitizen Жыл бұрын
For smaller amounts it's ok, I wouldn't keep large amounts there
@losttravelingbackpacker3757 Жыл бұрын
@@OffshoreCitizen can i ask your reason why please thanks
@OffshoreCitizen Жыл бұрын
It's not a highly resilient system, much more at risk of taking a blow than many other places
@ML-un1gr 4 күн бұрын
The minimum deposits he quotes for Singapore is NOT true. I have 2 business accounts there and the minimum is only $30K USD. But do not try nd set the account up yourself. You need to be introduced by an agent and then things flow much smoother.
@AidanScott Жыл бұрын
OCBC NISP (Indonesia) let's you open an account as long as you maintain 25million IDR AUM without needing a residence permit/KITAS.
@OffshoreCitizen Жыл бұрын
Yeah it's quite easy though not of the quality of Singapore
@gainz6180 Жыл бұрын
Can you invest into indonesian stock market with it?
@AidanScott Жыл бұрын
@@OffshoreCitizen yea it's a nice back-pocket bank while starting out
@BlackLabelExpat Жыл бұрын
South Korean banks might be a good idea, but as it turns out, South Korea Sable coin. not so much.
@OffshoreCitizen Жыл бұрын
😂😂😂
@micomarinas2753 Жыл бұрын
I'm from the Philippines. so which banks in USA that will accept depositors from the Philippines?
@OffshoreCitizen Жыл бұрын
You need to get a US address and then tons of them will
@KangTheDigitalNomad Жыл бұрын
@Mico Marinas you should email me
@jamesplatter2132 Жыл бұрын
Seychells
@FighterFred Жыл бұрын
Interesting, yes the dollar will continue since the US has the largest military in the world. Considering risk, what's the best option to secure wealth outside the banking system? Farm land, gold, art?
@OffshoreCitizen Жыл бұрын
Depends on your goals and the risks you're protecting against. I've created some videos on gold in the past. I'm a huge fan of productive assets over pretty much anything else so that can include farmland but it's not very liquid. I'd say for diversification a person should have some small allocation of precious metals and also crypto (at this stage mostly btc and eth) some diversified cashflowing real estate holdings, right now some bonds or similar debt instruments, stocks. Most of net worth should focus on productive assets though
@FighterFred Жыл бұрын
@@OffshoreCitizen The risk is that the whole banking system collapses in the West.
@OffshoreCitizen Жыл бұрын
We're not at that stage yet There's lots of people who have been calling for these things for decades and it doesn't happen. You'd think people would stop listening to them but apparently not because it's always just around the corner. I think it's really important to have accurate mental models about how things work otherwise you make suboptimal decisions. In this case its the investing expression "being too early is the same as being wrong". A bit of banking diversification and you'll be fine at this stage. In the future that could change but we're not there yet. We need to reach the point where there's insufficient productivity to bail out the losses & an escape hatch for people to choose instead. Neither of those exist yet. I'd guess it's a minimum 10 years until we get there it takes quite a while for an alternative to gain sufficient momentum.
@FighterFred Жыл бұрын
@@OffshoreCitizen Could be, but check out what Musk said to Tucker. The banks have negative equity in commercial real estate, and could have soon in the housing market.The FED printed too much money, leading to inflation and higher interest rates. Last time that happened was in 1929.
@artemdruzhinin1575 Жыл бұрын
What about Hong Kong?
@OffshoreCitizen Жыл бұрын
Usually you're using international banks there so don't tend to get optimal diversification and we're a bit concerned about the relationship with China so it's ok but I'd say tier 2
@krustyaxelrod Жыл бұрын
Hi Michael. So let's say someone ho has 25-100M cash how many banks does he needs? 50? I don't understand how this plan works for ultrawealthy people. In reality it's not practice to have more than 5 banks in my opinion
@OffshoreCitizen Жыл бұрын
I have more than that many and I don't have 100m Bank accounts are typically very cheap insurance But I wouldn't recommend almost anyone hold that much in cash you'd generally hold a lot of it in brokerage accounts and assets
@dexterspeights3484 Жыл бұрын
Uruguay is THE SWITZERLAND of SOUTH AMERICA!
@OffshoreCitizen Жыл бұрын
They would like you to believe that. In reality they are much lower quality and not even the top in latam as far as quality goes but if you want to add them as tier 2 banks to your portfolio that's fine. Unfortunately none of the banks in latam are top tier
@jonathangat4765 Жыл бұрын
@@OffshoreCitizen As someone who lives in Uruguay, I agree. There really aren't many options here and I keep just enough money to live on.
@user-nf8ke1rf2u Ай бұрын
I heard
@user-xm1yb6ej4c Ай бұрын
Still not Switzerland itself right?
@voyagetravel1840 10 ай бұрын
What countries are best for self employed people with 1099s?
@OffshoreCitizen 10 ай бұрын
There's no one size fits all Depends how much money, where you're living, purpose of the account, etc etc etc Best to reach out if you'd like advice specific to you
@nonameanon9368 Жыл бұрын
For Europe why did you pick Andorra banking over Norway and Amsterdam? Is it because Andorra doesn't have an airport lol And for Asia why South Korea over Japan, Macau or Taiwan. For Uk pound why Jersey over Guernsey? And in a side note what do you think about Gibraltar or New Zealand as jurisdictions...
@OffshoreCitizen Жыл бұрын
The first most important question is "can you open accounts as a non resident?" For most the answer is no so they are automatically excluded. After that it's a question of the quality of the institutions available focusing here mostly on bank safety followed by available services. Generally South Korean banks are safer vs Japan & Macau. Taiwan doesn't have as much system level strength protecting it. Gibraltar & New Zealand are both ok. New Zealand typically tougher as a non resident.
@nonameanon9368 Жыл бұрын
Also heard some Austria Banks are better than most countries but difficult to get an account if your american
@OffshoreCitizen Жыл бұрын
Yeah quality doesn't matter if you can't get an account
@thetimmns Жыл бұрын
This is a result of stupidity and greed from people that should have never been in position to make this mess.
@OffshoreCitizen Жыл бұрын
?
@Bambotb 7 ай бұрын
Why would people park big money under their name instead of corporations ? I think all rich people hold money under corporations
@user-up3tu8ts4w Жыл бұрын
Why didnt you cover panama banks?
@OffshoreCitizen Жыл бұрын
Because they are much worse than these
@musamupfekeri 7 ай бұрын
Mauritius is okay and easy but bad customer service
@andrescv2665 Жыл бұрын
those countries look great, but, what about deposit insurance??? Everybody talks about Singapore but the goverment said many times that deposit in foreign currency are NOT insured. Sounds like herd mentality
@OffshoreCitizen Жыл бұрын
As I've said many times if you have to worry about deposit insurance you're off to a bad start Look at SVB 97% of deposits not insured but they all got back stopped Deposit insurance is never high enough for large amounts of money
@FreedomWithoutBoundaries Жыл бұрын
Excellent content. Regarding Latin American top/safest jurisdictions for banking: 1- Chile, 2- Uruguay, 3- Panama, in this order? And any other decent options in Latin America? Thank you.
@stevejones9662 Ай бұрын
@OffshoreCitizen would like to hear your thoughts about this
@HKFunster Жыл бұрын
Hong Kong?
@OffshoreCitizen Жыл бұрын
Not bad by any stretch but usually you're not using local banks and I'd say it's tier 2
@anonymous6594 Жыл бұрын
Why South Korea over Japan?
@OffshoreCitizen Жыл бұрын
Their banks are simply stronger. Also we find it easier to open in Korea as a non resident.
@elsbells8545 Жыл бұрын
Monaco is not on the list…?
@OffshoreCitizen Жыл бұрын
No their banks aren't at the same level. Not terrible but not at the same level at all.
@elsbells8545 Жыл бұрын
So I most be Careful of Monaco banks
@OffshoreCitizen Жыл бұрын
I mean it's fine, most banks the chances of losing money are fairly low but here we're discussing the top options
@user-ix3zx8gu3t 8 ай бұрын
you're so rich and therefore beautiful
@fxgreek5490 Жыл бұрын
How is CBDC going to affect all this Global Diersification?
@OffshoreCitizen Жыл бұрын
There will be many CBDCs
@hamid1106 Жыл бұрын
Banks will give your information to OECD, and they will report it to your local tax authorities
@OffshoreCitizen Жыл бұрын
Well no they turn over the information to the local government, which shares the details with your country of residency in most cases. The treaty for this was created by the OECD but the OECD doesn't actually process the information.
@libertarianspirit Жыл бұрын
I'm surprised to hear that Andorra still accepts russian citizens. Thai banks open accounts for russian citizens if you have Thai elite visa (need to provide address in Thailand). I think there is less risk of your account being shutdown in Asia than in places like Andorra.
@OffshoreCitizen Жыл бұрын
Hard to say which are more likely to close you probably also depends on your activities
@nikkalorak Ай бұрын
weird country?? wtf this patronising commentary??? mate you are claiming to be some kind of an expert, watch what you say.
@thomasucc Жыл бұрын
wrong, just pay your taxes, it's easier
@OffshoreCitizen Жыл бұрын
Offshore banking generally has nothing to do with tax. But generally it's best to minimize your tax as much as legally possible
@amostofi1999 Жыл бұрын
you think "truckers" blocking streets was legal?
@OffshoreCitizen Жыл бұрын
Huge supporter of the truckers, not at all a supporter of Trudeau or how he handled it
@qetoinfinity2086 Жыл бұрын
@@OffshoreCitizen blocking the streets was a very mild reaction to Trudeau's communism. In the country where I was born, when the people rose up the Trudeau of that time was put against a wall & bang bang, a fitting end for a communist tyrant.
@patrick1992 Жыл бұрын
You are just a follower go sleep again. I will never visit this Faschist country called Canada. Just saw the police locked up a guys who told there are only two genders because of your dumb laws 😂
@ouailbaas48 2 ай бұрын
You dont have whatsapp or telegram?
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