Good suggestion will do

@@OffshoreCitizen Excellent. Thank you. As an aside, I noticed you singled out Wells Fargo as a bank you didn't consider to be favorable. I've banked with them in a corporate setting for a company I formerly worked for and based on service alone, I can say I concur. However, I thought it pertinent to mention that many of the "retired" vloggers from the USA that have relocated specifically to the Philippines (usually under the former SRRV that may soon return after revamp), that a vast number of them insist on getting a Wells Fargo account before leaving the USA because they are the only US bank (according to them) that facilitates direct bank-to-bank account transfers between personal accounts instantaneously. Otherwise, in most circumstances, you're dealing with a wire or account transfer that takes upwards of 21 days. For context, I am a US citizen strongly considering planting one of my flags in the Philippines or Malaysia.

@@skranz7790 thanks for the feedback. The biggest problem with wells Fargo is the lack of online wire transfers. US, Canadian and Australian banks aren't very international friendly

@@MichaelRosmer Makes sense. I suppose it is a specific application in a specific country that the Philippine retiree vloggers are pointing to.

Yeah HSBC mostly isn't nearly as good as advertised. I'm not quite sure why, probably due to regulations but in general banks don't work well across borders. Really, if you want that functionality the best place to go is somewhere like transferwise. As for opening accounts in tier 1 banks as non residents yes it can be possible but it's bank by bank and it's always changing. Even a bunch of what I included in this video has changed since I created this video.

HSBC is rubbish.

​@@buntybunty5504where do have residency?

Our pleasure! Anything you'd like to see next?

Great suggestion, thank you! Stay tuned ☺

Great suggestions! Regarding credit you'll find it difficult in most places if you don't have local income and/or assets

Yeah some of them are really appealing depending on your needs

hey man they are soo hard to get accepted

@@HowToApple depends on your circumstances some of them are much easier than conventional banks but it all depends on their criteria.

Thanks for the suggestion definitely will work on that.

What do you mean by "a more private service"?

Haha what can I say my wife likes sea food... ;p

This was filmed in Bulgaria

It really depends on your situation. Where are you from, where you want to open it. What currency, what purpose, your income and so on... There are many things to consider. For more information you can check out this video kzfaq.info/get/bejne/q9d4i8J1ss6Ukac.html and If you have any other suggestions, let us know!

You'd need to do something peer to peer

They aren't an actual bank, they are in most parts of the world

@@OffshoreCitizen .. Thank you

Thanks I've got a microphone for the new ones so you should notice an improvement

@@MichaelRosmer sounds totally fine for me.

Thanks!

Banks are decent, very difficult to get accounts opened and much harder still to do it remote. But yeah it can be ok.

Technically you're right, for the purposes of storing funds and investing it is one of the best options though.

I need info on how i can shift my money and brokerage account from my country to the country where i can trade options in US and also pay no tax or minimal tax. I hv interactive broker account but cannot trade in options in US exchange. Do i have to ooen a company or take residency in another country.

@@sshetty9683 it could depend on a huge range of factors. Tax planning for trading is not a simple matter in many countries. It's likely that you'll need to set up a foreign company but it depends. You can reach out to us and book a call to discuss the specifics www.clarity.fm/michaelrosmer

I'm not clear on the question. What are you asking?

​@@OffshoreCitizen you mentioned it at minute 2:00 when people said about doing something on the BBI.

No, that's the reality of banking today. If you don't want questions you need to stick to crypto or something.

@@MichaelRosmer thnx

Michael is right there is very few places that accept large cash amounts. Those days off rolling up with bags of cash are long gone. Can be still done just not easy. This video and the places to avoid saved me so much time . Thanks Michael

Well I don't think of bitcoin as very equivalent. I'd view something like Dai more that way. As an investment I've been openly bullish in crypto this year having invested a fair portion of my liquid assets myself. I'd love to see a world where I could transact 100% in crypto but right now we're a long ways away from that so unfortunately, we tend to need real banks. If we're lucky the payment rails will get to the point over the next several years that you don't need a bank account but I think governments will resist that so we'll see.

What do you think about it?

@@MichaelRosmer id say your partly right, Governments love the idea of crypto tho id say., they just dont love the fact its not totally centralized under there control. So they made CBDC's, china is already started the roll out of there cbdc. [www.weforum.org/great-reset] [sustainabledevelopment.un.org/outcomedocuments/agenda21] [cryptonews.com/exclusives/ecb-exec-sovereign-money-needs-to-be-reinvented-8451.htm] [cryptonews.com/news/a-hint-from-davos-2021-regulating-crypto-is-in-the-public-in-9011.htm] [www.weforum.org/agenda/2019/04/this-new-form-of-currency-could-transform-the-way-we-see-money/] personally, i like the technical innovation of bitcoin or as a decentralized network of nodes running a protocol that can be used to build a new internet,web3, serverless and in the cloud With things like [docs.blockstack.org/.] [chain.link/] what's the 1 incentive someone may need and that will undoubtedly get most involved in Bitcoin? ..ill tell you its ....$$$.... the more people that use the network the stronger the network becomes.

@@seraph1890 yeah I'm not a huge believer in bitcoin as an end point but as a step along the way it was a great entry point to kick off development in the market and the innovations coming out now are great. We'll see how it develops, hopefully in a way that makes our lives and society much better not worse.

@@MichaelRosmer i would say that the best store of wealth is something like property/land, but you wouldn't store the majority of your wealth in it. bitcoin could be looked at in a similar since kind of lol

For banking? Not too excited

@@OffshoreCitizen i thought about Asset Protection

@@halorx9863 you might get privacy but bank security is weak so trade offs. I wouldn't bank there

@@MichaelRosmer what do you mean in terms of security? Losing all money because of corruption?

@@MichaelRosmer i seek banks that are not in data exchange programs, what about Tuvalu?

Thank you! You can book a call here calendly.com/michael-rosmer or send a message here www.offshorecapitalist.com/ Looking forward to getting in touch with you!

Complex question, much harder to get

Ah we tend not to recommend very high interest savings accounts. You can get better returns with lower risk in many other ways most of the time so we advise going that way instead.

Depends on many factors. Nature of your business, where it is registered, where your clients are, how they pay you, currencies, volume of business, likewise for your suppliers. You can reach out to us to go over it in details.

Karan, the best strategy depends on your specific situation. It would probably be best to book a call calendly.com/michael-rosmer. You can tell me all about it and I'll guide you on the best solution and any next steps

You can open in the Bahamas rates are better than cayman

@@cleancutz8498 do u know bro who much does it cost 🙏🙏🙏🙏🙏🙏

Hi Brian, Michael does not operate through Clarity at the moment. The only platform you can use to book a call is Calendly - calendly.com/michael-rosmer

Electronic money institution... Sort of a virtual bank

What do you mean by offshore? Generally, offshore banks are just banks in another country. And safe from what? From losing your money? From being frozen? I've done some videos on assessing bank safety and the things that can go wrong. In general though most banks are fairly safe

The Cayman Islands are one of the most popular choices for offshore banking due to its political stability, low tax rates, and strong financial regulation. Many Cayman banks allow seamless remote account opening. 2:56 [BBCIncorp]

An offshore, or overseas, bank account is one that you have in a country you don't reside in.

Typically your passport, proof of address, and proof of income are required to open an offshore account. If you plan to open an offshore bank account for your business, you may be required to provide additional documents, such as a certificate of incorporation and the share register, to prove ownership. 3:24 [Global Citizen Solutions]

It may be more challenging to open an offshore bank account than a domestic bank account because you may need to prove you have a minimum amount of money or a business relationship with the bank's country. 4:04 [NerdWallet]

Offshore banking is the practice of keeping money in a bank account located in a different country than the account holder’s home country. There are many reasons why people choose to do this, including the potential for tax benefits, asset protection, convenience, security, privacy, and higher interest rates. However, there are also some risks associated with offshore banking, including the high costs of setting up and maintaining an account, the possibility that the offshore bank could default, and increased regulatory scrutiny. 5:55 [Bankrate]

Not especially great

For Seychelles companies have tried bank one useless. ABC banking corp were ok. Putting one application in for Investec Mauritius at the moment. Michael is right I like HK companies now for formations and banking. UAE is a solid jurisdiction just no remote opening that I know off.

I can connect you with that if it's what you're interested in and you're a, qualified buyer

I am a qualified buyer. Please do send me some details. My email axtivonet@gmail.com Dr mike