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TOP 5 Places to Bank if You're Rich - Safest Places to Store Large Amounts of Money $$$

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Offshore Citizen

Offshore Citizen

Күн бұрын

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Where do rich people keep their money? Which places offer the best banks for wealthy individuals?
If you have lots of money, you certainly want to make sure that your money is in safe hands. Some countries are safer than others.
If you are very rich there are some places that will welcome you! Switzerland is one of the safest places in the world for banking for high-net-worth individuals. They offer private banking services to their clients, and safety is guaranteed.
Swiss banks are favorite among rich people, and they are considered the best in the world.
Other than Switzerland there is Singapore, where lots of our rich clients decide to keep their money. It's extremely safe, and the service is impeccable.
Then there is the US. The United States of America has a very good banking system. It's safe, accessible, and easy to deal with. Many rich people from all over the world keep their funds in American banks.
But what about less known places, such as Andorra, San Marino, Channel Islands, or the Cayman Islands? What about various different offshore banks?
Some of them are better than others. Generally, I wouldn't put a large amount of money in an offshore bank on a small island.
One option that is appealing to many, and is only growing in popularity is certainly the UAE banks, especially banks in Dubai.
Dubai is a massive business hub, and many wealthy people from all over come to live here. Banks offer a variety of different services depending on your needs. Dubai is generally a good option for banking.
We are also covering some places that you definitely shouldn't consider if you want to park a larger amount of money.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
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Пікірлер: 137
@danielblanchard1222
@danielblanchard1222 2 жыл бұрын
I am really interested in this topic but I feel like watching the news when watching your videos, you tell me what to think and do not go in much details as to why something is good or bad. I would like to hear more about how you come up with your opinion so I can make my own.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Thanks for the feedback
@davelawson2564
@davelawson2564 2 жыл бұрын
Its based on experience and good evaluation. pay his consultation fees if you want more details. this is not charity show for beggars
@ShOwStOpp3rr
@ShOwStOpp3rr 2 жыл бұрын
WinTrust banks offer the MaxSafe account, which allows an individual to insure up to $3.75 million dollars...(USA)
@alfinal5787
@alfinal5787 2 жыл бұрын
Today there’s a risk on the financial institution and a risk on the currency. The best way is to hedge both heavily.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Yes these are definitely both separate risks. There are also network risks and political/geopolitical risks.
@hirenshukla1662
@hirenshukla1662 2 жыл бұрын
1 Singapore 2 Switzerland 3 USA 4 UAE 5 Channel Island
@Carolinapetroska
@Carolinapetroska Жыл бұрын
You can scatch n. 2 and n. 3 now for obvious reasons with the recent bank collapses in those countries.
@rona8663
@rona8663 2 жыл бұрын
Talking to some of my very high net worth friends, UAE although very secure has a reputation of being very difficult to move funds out of there once you have it moved there. What have you found on thaty subject?
@hellophoenix
@hellophoenix 2 жыл бұрын
I really hope Michael answers your question.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
I'll do a video on this but no I know those stories and they generally aren't accurate.
@hellophoenix
@hellophoenix 2 жыл бұрын
@@OffshoreCitizen I agree with you Michael , most likely they are not true.
@dexterspeights3484
@dexterspeights3484 2 жыл бұрын
@@mongooseeight311 THANKS - MISTER MONGOOSE!
@EnderViBrittania
@EnderViBrittania 2 жыл бұрын
@@mongooseeight311 If you won’t go into details, then your comment equates to baseless smears.
@RomilCPatel
@RomilCPatel 2 жыл бұрын
What is the KARL sticker suppose to mean?
@khalidtw
@khalidtw 5 ай бұрын
It is brand Karl Lagerfeld........Karl Lagerfeld is one of the most famous designer, used to design for Channel and now has its own brand with his own name. Hope it answers your question.
@BTS-mb1lh
@BTS-mb1lh 2 жыл бұрын
Hi Thx. [as a Canadian resident] Where would you fit Canadian banks in your list, relative to US banks? And what about Panama? Thank you.
@Carolinapetroska
@Carolinapetroska Жыл бұрын
the 4 major canadian banks are generally solid however the CAD is not worth anything at the moment and usually too compared to other major currencies and the problem is that canadian banks will do everything in their power to spy on you and try to discover any foreign account you may have and tax you accordingly. Unfortunately, I think you are scr-----d if you are canadian.
@smoke1208
@smoke1208 2 ай бұрын
Credit unions ?
@VishalRaoOnYouTube
@VishalRaoOnYouTube 7 ай бұрын
I'm surprised you didn't discuss the significance of G-SIB and D-SIB classification.
@gigilifeent1273
@gigilifeent1273 2 жыл бұрын
Let’s brake it down, when you say USA. What banks tho? I know there’re a lot banks out there. When you got a chance make another video Which banks in USA is best for rich folks. Salute for what you do. Rich folks issue🤩
@i.0001
@i.0001 2 жыл бұрын
What about holding US T-bills in a US brokerage account instead of cash deposits in a regular bank account? US Treasury bills are as risk-free as one can get.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Sure that's fine but you still need retail banking to function
@goedelite
@goedelite 23 күн бұрын
You quickly dismissed Latin American banks, but did you really mean to include major Uruguayan banks? Uruguay is known as the Switzerland of L.A., but maybe for other reasons? What do you know about Uruguayan banking for USians? Are they tied to the US?
@dexterspeights3484
@dexterspeights3484 2 жыл бұрын
US BANKING SUCKS - HANDS DOWN! 1) ACCOUNTS only available in US DOLLARS 2) You CANNOT BUY SILVER & GOLD in US BANKS
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Normally you don't buy gold and silver through your bank you do so through brokers
@Carolinapetroska
@Carolinapetroska Жыл бұрын
I agree and they will do everything in their power to try to see if you have another bank account in a different country and punish you accordingly. Plus high fees and lack of freedom. They are not flexible and very controlling.
@thor4379
@thor4379 2 жыл бұрын
What do you think about Luxembourg private banking in this context?
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Not a bad option at all, depends a bit on the bank how difficult they are to deal with. As a general rule I'd prefer Switzerland to an EU bank due to some of the regulatory restrictions within the EU & what the Euro does to the ability of a country to respond to issues
@thor4379
@thor4379 2 жыл бұрын
@@OffshoreCitizen Interesting. Which restrictions are you referring to.
@Carolinapetroska
@Carolinapetroska Жыл бұрын
@@OffshoreCitizen Maybe but at least the Euro is a very strong currency compared to the other major ones and since it's highly regulated, banks in Europe don't fail for a 'yes' or' no' like they did in the USA and in Switzerland ! That's why I pick Europe.
@blyat7276
@blyat7276 Жыл бұрын
@@OffshoreCitizen are you talking about Lugano Convention?
@libertarianspirit
@libertarianspirit 2 жыл бұрын
HK banks won't open you account if you have Russian passport unless you have more than 13 mil usd. This is the case if you are not resident in HK. And even if they open account, they can close it any moment without any explanation. So forget about HK. Swiss banking are more friendly. This is based on my talks with private bankers in HK and CH.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
All banks can close your account at any moment without any explanation The 13m thing isn't accurate
@libertarianspirit
@libertarianspirit 2 жыл бұрын
@@OffshoreCitizen HK bank gave this info about amount. Also, while any bank can close account for any reason, HK banks are especially bureaucratic, unlike some small Swiss banks.
@alexg6702
@alexg6702 2 жыл бұрын
My experience, albeit several years ago, is they love ‘chops’ and shuffling paper. They usually have nice young client service reps explain this to you so cannot express your frustration to them :) Their technology tends to be not as advanced as you may might be led to believe and it’s difficult to get a handle on opening an account there, and if you do could be closed at any time. Constantly moving goal posts, better look elsewhere.
@eddiefigueroa9080
@eddiefigueroa9080 2 жыл бұрын
Michael, given what is happening in Canada (and possibly soon elsewhere) many are advocating for crypto, gold, silver, etc., as an alternative to traditional banking. However, if you do/can not bank in “safe havens” like Switzerland, wouldn’t it be easier to just have a satchel full of cash? I fail to understand the benefit of lugging around gold/silver for transactions in the future dystopia. Am I naïve or uninformed? I really don’t get the gold/silver thing.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Gold and silver are probably overrated but carrying a satchel of cash doesn't work well in a world that is banning large amounts of cash, creates risks with transporting cash across borders, etc. Gold and silver are hard to transport but can be stored in vaults abroad and resist inflation to some extent. If you're buying jewelry you can carry large amounts across borders. I think some physical cash makes sense along with some previous metals and crypto.
@dexterspeights3484
@dexterspeights3484 2 жыл бұрын
CRYPTO is WORTH-LESS without POWER or TELE-COMMUNICATIONS!
@EnderViBrittania
@EnderViBrittania 2 жыл бұрын
@@dexterspeights3484 Go away, nocoiner boomer.
@peterjohnson5586
@peterjohnson5586 2 ай бұрын
@@dexterspeights3484 Without power there will be no banks, no governments, no civilization, your cash or gold will also be worthless.
@user-mt7bc8og6d
@user-mt7bc8og6d 7 ай бұрын
How do the large lottery prize winners bank their winnings?
@Solomeo_Paredes159
@Solomeo_Paredes159 3 ай бұрын
In a offshore bank, but which one? Total secret
@Carolinapetroska
@Carolinapetroska Жыл бұрын
Those places that you mention are now some of the worst countries to do banking with : the US and Switzerland. If you are a foreigner, first of all the US don't want you and second of all, with all the banks that just collapsed, the confidence is no longer present. Same for Switzerland and the collapse of Credit Suisse a few days ago. Also if you do banking in the US, a lot of other countries are going to reject you and the US is the worst controlling country on earth ; they want to know everything about you and they will go after you, not to mention the extremely high fees and lack of flexibility.
@LisaCulton
@LisaCulton 2 жыл бұрын
Switzerland needs to be bashed, as far as retail banking goes. Private banking is another story.
@EnderViBrittania
@EnderViBrittania 2 жыл бұрын
Why?
@matttoly9773
@matttoly9773 2 жыл бұрын
What about Luxembourg?
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
It's good, but EU regulations make it worse than Switzerland and I view the Euro as a point of weakness for dealing with crisis.
@JohnDoe-cf8jz
@JohnDoe-cf8jz 2 жыл бұрын
Banking in Canada doesn't seem to secure these days, lol. Just joking, the dictator will be gone soon and all will be back to "normal".
@Carolinapetroska
@Carolinapetroska Жыл бұрын
Hopefully the dictator will be gone soon. Everybody wants him out so I don't understand why he doesn't want to step down
@leals6756
@leals6756 2 жыл бұрын
Regarding Singapore Banking, SDIC deposit insurance caps at 75k sgd or approx. 55k usd. How does one insure larger deposits ? multi bank accounts, private banking account?
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
I've often said if you need to worry about deposit insurance you're off to a bad start. The idea is to go for stake institutions and ecosystems. That being said just buy short term government bonds, they are fully backed for the full value. If it's good enough for Warren Buffett for $10p billion it's good enough for you
@realismatitsfinest5745
@realismatitsfinest5745 2 жыл бұрын
Good to know if I ever have this sort of cash.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Indeed. It's good to be prepared. What place from the list would you go for?
@hellophoenix
@hellophoenix 2 жыл бұрын
Great video , do you have a preference in a specific bank in Dubai ?
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Depends for what. All the top 4 are pretty good. If I'm looking for safety then FAB, ADCB, Emirates NDB, ADIB in that order. If I'm considering ease of use it adjusts somewhat, then on the private banking side there are some differences in service offerings and for points cards and rewards there are differences depending on what you're willing to pursue (ie Etihad offers better points than Emirates but then do you want to deal with Etihad when you've got to go to Abu Dhabi for it and they are more poorly connected?). Overall my usual starting point for tier 1 is FAB but they are harder to deal with especially recently.
@davelawson2564
@davelawson2564 2 жыл бұрын
@@OffshoreCitizen you mean harder to open account in FAB ? could be due to CRS ? or transaction or customer service issues ?
@hellophoenix
@hellophoenix 2 жыл бұрын
@@OffshoreCitizen Most of my banking is done online . I’m looking for the most user friendly bank .
@steveinstamford
@steveinstamford 2 жыл бұрын
Great vide Interesting you didn't mention any UK banks ? Do you think their safe or efficient?
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Almost impossible for foreigners so not relevant just like the Canadian, Australian and German banks
@mva6044
@mva6044 2 жыл бұрын
How about banking in Switzerland (say Lugano) as a resident of Campione d'Italia? Perhaps that would allow for lower limits/lower fees to establish a deposit? I have both a US citizenship and one (by descent) from an EU country, though while I maintain the US citizenship establishing a deposit anywhere outside the US is going to be beaurocratically challenging, and probably not advisable under 1 million USD, right? Even with the channel islands? Perhaps if the whole concept of incorporating UK into NAFTA pans out, then maybe.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Yeah but how many people are going to go live there for the banking?
@barry4848
@barry4848 2 жыл бұрын
Who the hell is Karl?
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Lol Karl Lagerfeld is one of the most famous designers in history, go look him up
@anonymous6594
@anonymous6594 5 ай бұрын
Is this list still good?
@b4bmm
@b4bmm 2 жыл бұрын
Never hear anything about the Scandanavian banks, surely there must be good?
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Much more painful to deal with and generally not available to foreigners so they don't make the list. If you're from there then they should probably be getting some of your money.
@michaeltimpanaro5622
@michaeltimpanaro5622 Ай бұрын
Three minutes to get to the first place. ?
@jesselivermore9285
@jesselivermore9285 2 жыл бұрын
Bitcoin is my bank account.
@tlevans62
@tlevans62 2 жыл бұрын
You can’t do everything with Bitcoin.
@hirenshukla1662
@hirenshukla1662 2 жыл бұрын
@@tlevans62 Come to Dubai
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Unfortunately you can't do much with bitcoin
@dexterspeights3484
@dexterspeights3484 2 жыл бұрын
You are screwed without POWER + TELECOM and countries are starting to BAN CRYPTO!
@ScottPaton
@ScottPaton 2 жыл бұрын
Interesting topic. I was surprised the US made it on to your list.
@Carolinapetroska
@Carolinapetroska Жыл бұрын
True I wouldn't recommend the USA, never unless you are a US citizen and you don't have any other option.
@jonathangat4765
@jonathangat4765 2 жыл бұрын
Canadian Banks for US Citizens/Residents?
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Not typically an easy option. Better for Americans to look elsewhere
@lcmr123
@lcmr123 Жыл бұрын
What kind of interest rates would these banks (say Singapore or Dubai) give on their money. Thanks
@OffshoreCitizen
@OffshoreCitizen Жыл бұрын
Right now about 5% but generally I wouldn't be too focused on that aspect
@lcmr123
@lcmr123 11 ай бұрын
@@OffshoreCitizen thanks
@christinewallin3185
@christinewallin3185 2 жыл бұрын
Surprised you mentioned the US as a safe option when some are having their accounts seized for blinking w the wrong eye.... i really question that suggestion. Do you bank in the US?
@hellophoenix
@hellophoenix 2 жыл бұрын
Yes, that surprised me too
@cookmaster3626
@cookmaster3626 2 жыл бұрын
If you are living in US, and if your decision is to invest in a Bank (A very poor decision for the last 7/8 years + 5 more years from now) i dont see anything wrong. Allover the world the interest rates are piss poor. I dont understand why chase the investment in a foreign bank and all the trouble dealing with the account and filing FATCA, FBAR and IRS crap. Is it worth it. On those grounds Investing in a US bank is a no brainer. Of course you split it amongst multiple banks to get the FDIC coverage. In the current state you put the money in an index fund or good mutual fund and sit quiet for several years and your returns will beat the inflation and its a no brainer.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
I find there's way less account closures in the US than most of the rest of the world & you've got much better legal recourse there than most of the rest of the world. More importantly though it's the stability and here there are huge advantages to the US. It pays to understand that banks aren't stand alone, they exist within an ecosystem and network so when you evaluate banks you need to evaluate the stability within the network. Consider that a bunch of the major issues with banks over the last decade ie Caledonian, FBME, Banca Privada, etc occurred because of their outsider status to the US, which was able to be attacked and cut off. The same would never happen to Citi, Chase, Wells, BOA etc This is a HUGE deal not only in terms of the stability of your money but also the degree of compliance and ease of doing business. And yes US is one of several countries I bank in.
@davelawson2564
@davelawson2564 2 жыл бұрын
did you lose money in your US account ? how do u lose for blinking wrong eye ? This is not conspiracy channel , so absurd unproven hype is not basis of the advise given here u need to prove ur point
@christinewallin3185
@christinewallin3185 2 жыл бұрын
@@OffshoreCitizen I guess we just agree to disagree w our experiences as our guide.
@Keyyyman
@Keyyyman Жыл бұрын
Planning on opening some bank accounts in Dubai and in Singapore following your advice, which banks in these two countries would you rate best for safety, secrecy and user friendly as in making online payments
@giovannibellavita8152
@giovannibellavita8152 2 жыл бұрын
Great content as always ...
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Thank you, Giovanni! Any experience with the countries mentioned?
@thequake180
@thequake180 6 ай бұрын
good god get to the point already
@macaccount4315
@macaccount4315 2 ай бұрын
Just blathers too long
@alexg6702
@alexg6702 2 жыл бұрын
Interesting overview. You seem to be quite dismissive of Latin America, maybe because you haven’t been there. Uruguay is a stand out in Latam for banking, strong regulation which has earned it the reputation as the Switzerland of South America. A number of international banks operate there including Swiss and Andorran. Also good place for company formation, similar to HK/Singapore, low rates and territorial taxation.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
People who say Uruguay is the Switzerland of Latam either have never banked in Switzerland or know the being the Latam version when it comes to banking means it's of substantially lower quality. Uruguay is good by Latam standards, even relatively solid but a whole host of risks combined with lack of comprehensive banking services leave it less than top tier. I might choose it as the top place if I was going to bank in south America though.
@blyat7276
@blyat7276 Жыл бұрын
@@OffshoreCitizen yeah but then why bank in latAm at all beyond day to day spending slush money funds? :)
@JesseMozambique
@JesseMozambique 2 жыл бұрын
Comments about Thailand? Lot of wealth there and the apps are good.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
I'd absolutely not consider their banks tier 1 for large amounts of money
@dexterspeights3484
@dexterspeights3484 2 жыл бұрын
The government in Thailand is politically un-stable and corrupt - Their are plenty of rich guys in Thailand but their real money is in another country like Singapore or Malaysia!
@cookmaster3626
@cookmaster3626 2 жыл бұрын
I thought the focus of this video was about the best yield from International Banks. You didn't touch on that aspect. Being a US citizen even if i have to invest say 3/4 mili can always split between 6/7 banks with a FDIC insurance of $500K for each joint account. Why would i chase a foreign bank with all the unknowns if there is no interest incentive. In the last 7-8 years and perhaps the next 5 years, investing your money in any bank is a poor financial choice. Just my opinion
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Bank interest is a horrible way to get yield and usually markets in this regard are quite efficient on a risk weighted basis. But banks in any country have geopolitical and political risks as well as jurisdictional liability risks. Then in the US it's all USD, which introduces concentrated currency risk. You're forced to go abroad to address this. If you want yield look to real estate, bonds, stocks and crypto not bank deposits.
@ScottPaton
@ScottPaton 2 жыл бұрын
FDIC insurance is $250,000 per account
@Carolinapetroska
@Carolinapetroska Жыл бұрын
Maybe but it's never very wise to keep all your assets in the same country in general, especially in the USA where 3 banks just collapsed !!! If something happens in your country and they freeze your accounts, then what are you going to do ???
@omadasmtp543
@omadasmtp543 2 жыл бұрын
How about South Korea ?
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
I've never tried banking there as a foreigner is it accessible?
@darwinsutanto
@darwinsutanto 2 жыл бұрын
Hong Kong?
@MrAmhara
@MrAmhara 2 жыл бұрын
Not easy to get.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
As I mentioned in the video not considered nearly so good anymore due to what's been happening with China
@chocmilkisgood
@chocmilkisgood 2 жыл бұрын
I recently opened a bank account in south America and they offered me an insurance (I think for theft) for $3/month that would cover me up to $600 per year :O
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
What country? How was the setting up experience?
@chocmilkisgood
@chocmilkisgood 2 жыл бұрын
​@@OffshoreCitizen Colombia. Well, I opened about 3 accounts because I have free time and they're free as long as I keep about $100 in each account. I am planning to stay in the region (not Colombia) so maybe in the future, they might be useful. Last year, I ran into an issue of only having 1 bank account in a specific country and I don't want to go through that again. I think like any country, it varies from bank to bank. Some banks required all sorts of useless photocopies and others were incredibly smooth.
@kamilserafin266
@kamilserafin266 2 жыл бұрын
Which bank in Colombia would you recomend?
@davelawson2564
@davelawson2564 2 жыл бұрын
@@chocmilkisgood which bank was easier to open and operate with online access?
@longgamma3341
@longgamma3341 2 жыл бұрын
with a tourist visa?
@jesselivermore9285
@jesselivermore9285 2 жыл бұрын
Banks are nothing but government departments at this point, eg Canada. The gold standard of banking around the world is bitcoin, and its free for absolutely everyone with no minimums. Bitcoin is the new Singapore.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Unfortunately it doesn't offer the services necessary for banking and it's still a risk on asset these days. Long term I think crypto payment rails replace most of banking centralized payment rails and for secure storage this is far better, transactions are easier as well. I suspect BTC will get usurped though.
@EnderViBrittania
@EnderViBrittania 2 жыл бұрын
@@OffshoreCitizen Usurped by what, and why? It would also be a good video to explain it.
@justingriffin2546
@justingriffin2546 2 жыл бұрын
bitcoin what? my 1 million dollars in my singapore is worth 1 million dollars...
@ThomasConover
@ThomasConover Жыл бұрын
@@OffshoreCitizen in order for btc to be usurped you need to go to war with at least one country now, El Salvador. They will never play along. And to forcefully shut down the bitcoin network you’ll need 3.5x times the total electricity on earth to pull off. Unless you got some very good diplomatic relationships with aliens capable of producing 3.5 times earth electricity you can not stop bitcoin network. Only advanced level software engineers with deep knowledge of cryptography and proof-of-work understands that. All the proof of stake networks are very easy to shut down on the other hand. ETH etc. But shutting down bitcoin? Keep on dreaming. Never gonna happen not even in your dreams.
@edwardbibillio1959
@edwardbibillio1959 Жыл бұрын
lol not thanks for the info lol This guy must be a Fed. Do you work for the IRS
@alfinal5787
@alfinal5787 2 жыл бұрын
London should be #1 IMHO
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
What makes London number one in your opinion?
@alfinal5787
@alfinal5787 2 жыл бұрын
@@OffshoreCitizen hundreds of years of legacy, very sophisticated financial market, speaking English, accounts on all major currencies without funny costs, better exchange rates. There’s a reason many Russian and Chinese billionaires put a lot of wealth there. All backed by solid assets behind. But of course, things might get bad. Past doesn’t predict the future.
@EnderViBrittania
@EnderViBrittania 2 жыл бұрын
@@alfinal5787 How does a non-UK resident of Dubai with a Caribbean citizenship get a bank account in a London bank?
@shubham-tr7fu
@shubham-tr7fu Жыл бұрын
Only 10k people are rich 😅
@BobSmith-br7hk
@BobSmith-br7hk 2 жыл бұрын
The rich bank at the bank in cyberspace, the bank of cyber-hornets, the Bank of Bitcoin.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
Most money of the super rich isn't in BTC
@skoopqueen
@skoopqueen Жыл бұрын
Njj
@nomad5375
@nomad5375 4 ай бұрын
Bad info. Very bad. They wont take your money as a foreigner.
@jeremyleonbarlow
@jeremyleonbarlow 2 жыл бұрын
If you are parking large sums of cash in any bank these days aside from operational funds for a corporation which will likely be dictated do a degree by substance rules, you are probably doing it wrong. Just my take. I mean, diversify into stocks, crypto, real estate, and bonds, but cash in a bank? No.
@MrAmhara
@MrAmhara 2 жыл бұрын
A person with tens of millions to billions will have a huge sum of cash no matter what.
@OffshoreCitizen
@OffshoreCitizen 2 жыл бұрын
It depends, ironically when Ray Dalio starts saying "cash is trash" both this last year and start off 2018 it turned out cash was the best place to be. A whole host of assets are down 50% to 80% so cash was great ironically at about the time people were saying to get out of cash due to inflation... They are always late
@davelawson2564
@davelawson2564 2 жыл бұрын
@@OffshoreCitizen correct . They are hyping up the dollar will crash mania to claim cash is trash, It does not apply to other stable currencies . even if dollar drops by 5% - 20% other currencies will stay up.
@jeremyleonbarlow
@jeremyleonbarlow 2 жыл бұрын
@@OffshoreCitizen I look at stocks the way Buffet does, buy great companies with products or services that are likely to be around in 50 years and hold. I also believe hedging by selling covered calls and buying in with out of the money covered puts is the only way to go. Never pay retail and do some yield farming with just far enough out of the money covered calls to probably not be called out, but eek out a little extra every month. Buy good income producing real estate when someone else doesn't want it or can't manage it so it's available for a discount have profit baked in the day you buy. Keep the rents below market and pick your tenants carefully, people who employed in a steady enough job, with something that will make them thankful for the discounted rent usually makes for the best tenants and the least problems. This is a tactic my great uncle used in the 1950s to turn $300 into a multi-million dollar set of real estate holdings by the 1990s. If you need to hold cash find soveign bonds with an attractive yield that are unlikely to default. For your real speculative play, invest in a crypto that is actually designed to function as a system of payment or currency. Choose a project that can scale and builds in genuine anonymity the way cash used to work. That is the money you are not afraid to lose, but it is up 7900% since it first came on my radar 4 years ago and this has been a slow steady climb as opposed to the massive spike most of the space has seen.
@EnderViBrittania
@EnderViBrittania 2 жыл бұрын
@@jeremyleonbarlow Which crypto is that? Please don’t cite some shitcoin 😅…
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