What would you do in my shoes to open a private deposit account

[abc123]

Hi, Just upgraded to mentor group 🙂

I have some questions which I don't want to ask to my real life advisor as the one I know is very legal-oriented.

I am a citizen and tax payer in Sweden with many companies registered and holding a Swedish passport. I can by heritage receive a passport from Armenia (will take me 6-12 months if I apply). I am also born in a third country.
The same time I plan to move and live in another southern European country (like Greece, not born here).

I have stuffed 6 digit € figures in various international bank accounts under friends names. I would like to open a safe (as safe as possible) bank to transfer 'my' funds there without the government of Sweden or future country to know about the existence of this account. The transfers would just be one time and would be stuffed there for the time I become older or for future investments.

Since I have the possibility to acquire a second passport (Armenian) I thought maybe that can be helpful for me?
I have no plans to visit this country unless it is needed for the setup.
I have no business and will never do business in this country as well.


What I was thinking after reading here, I could receive this passport and when I open an account (which bank/country do you recommend for me?) I would open it under this passport so the Swedish government would not find out, nor future country.

Then the reports would go to Armenia, but since I don't visit this country meaning I am not a tax resident of this country I GUESS that the government here would not bother what I have in my accounts, since I am not a resident here?
Or what is worse thing they could do if they receive a report saying one of their citizen who lives overseas have this much money there?) Would being a citizen only be a risk for having my funds seized/taxed/explained for?

How would you setup yourself if you were in my shoes?


My main concern is the above before I bless you with further questions 🙂

 

[abc123]

No experienced mentor here with knowledge that could assist please? 🙂

 

[Clip]

https://www.oecd.org/tax/beps/country-by-country-exchange-relationships.htm
Armenia doesn't have tax agreements with Sweden but anyway if you open a bank account overseas they will report to the country of your proof of address, so no matter you have a second passport.
Go to Armemia for holidays, get a phone bill contract and get a letter with the PoA, then register for bank openings.
Then you could face a different problem in the future if you live in SW more than 180 days per year and they think you are tax resident there, the moment one day they notice you have bank accounts undeclared, you can get heavy fines.

I recommend to move to a territorial based tax location like SG, HK or Malaysia and try to don't stay more than 180 days in the same EU country

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Expat in Hong Kong - There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. - John Adams

 

[abc123]

If I open a bank account in a third country (not Armenia, or Sweden) and provide them ID for my Armenian passport, and Utility bill from Armenia, and I guess I need some address to provide the bank from Armenia also.

The bank will report back to Armenia. Won't the Armenian government think this citizen has undeclared money overseas and up-tax me for undeclared income, we need to contact those banks to somehow get our citizens unpaid taxes back. ?

Or are money to be earned outside of Armenia tax free?

I just want to park money, but in as safe place as possible with taxes of maximum one-time 0-7%. So it's not an annual taxation on the money that are in the account.
Is it better to park money using a corporate account or personal account?



What is recommended for me to do if I just want to park money as safe as possible for many years ahead.

 

[JohnSeed]

TransferWise as well as Georgia banks claim they don't report anything as it is right now. If this change they will have to inform you about this changes. It's risky to open a personal account which right now may be anonymous but maybe in 1 year or later not.