Where to have a bank account in case US decides to sanction your country?

[iloveyouguys]

When US sanctions a country, other countries tend to follow. That means when you need to transfer your money from bank account X to another bank (because they want to close down your account), it's hard to find a suitable bank. In such stress, you wouldn't want to deal with trying to find a new bank. Which is why I'm making this post. PS. Idk much about how sanctions work.

If a US bank wants to close my account, in which country/bank I should have an account ready? Preferably in reputable safe countries. I was thinking of Switzerland but it seems they're useless if your country gets sanctioned.

In other words, what reputable banks accept people from Iran, let's say?

 

[avalanche]

iloveyouguys said:
When US sanctions a country, other countries tend to follow. That means when you need to transfer your money from bank account X to another bank (because they want to close down your account), it's hard to find a suitable bank. In such stress, you wouldn't want to deal with trying to find a new bank. Which is why I'm making this post. PS. Idk much about how sanctions work.

If a US bank wants to close my account, in which country/bank I should have an account ready? Preferably in reputable safe countries. I was thinking of Switzerland but it seems they're useless if your country gets sanctioned.

In other words, what reputable banks accept people from Iran, let's say?
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Try Russia as the number 1 country that doesn't give a s**t about American sanctions lol. Or try bitcoin

 

[Spinat]

Russian banks may indeed be your best option. Use and introducer for the RCB Bank in Cyprus to get an account. It may be a good solution.

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[avalanche]

blueweb said:
Russian banks may indeed be your best option. Use and introducer for the RCB Bank in Cyprus to get an account. It may be a good solution.
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Hmm how to find that introducer? With reasonable price

 

[Spinat]

What is a reasonable price.. most charge between 200 and 500 euro for this service depending on how much work they put into it. Just Google for some provider or check this Admin has here
https://www.offshorecorptalk.com/th...hy-offshore-company-formation-services.26419/
It's really easy to find Cyprus company providers at Google!

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Specialized in advisory service for tailor made Offshore setups with banking and payment processing. Privacy and Anonymity is my priority.
Contact

 

[avalanche]

blueweb said:
What is a reasonable price.. most charge between 200 and 500 euro for this service depending on how much work they put into it. Just Google for some provider or check this Admin has here
https://www.offshorecorptalk.com/th...hy-offshore-company-formation-services.26419/
It's really easy to find Cyprus company providers at Google!
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Up to 500 eur is perfectly fine for me. Alright

 

[iloveyouguys]

So, Russia and Cyprus. Any other suggestions?

Can you get your money out of Russia? Considering many platforms like Transferwise blocks accounts if they're associated with Russia, and Putin

 

[iloveyouguys]

iloveyouguys said:
So, Russia and Cyprus. Any other suggestions?

Can you get your money out of Russia? Considering Putin, and that many platforms like Transferwise block accounts if they're associated with Russia
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[avalanche]

iloveyouguys said:
Can you get your money out of Russia?
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What? Swift transfer exists and works perfectly fine there, you didnt know?

 

[iloveyouguys]

Me no swist. Me not smart. Me want food. Hungry.

Do you know anyone who regularly make transactions between Russia and US or another western country?

 

[avalanche]

iloveyouguys said:
Me no swist. Me not smart. Me want food. Hungry.

Do you know anyone who regularly make transactions between Russia and US or another western country?
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Wtf mate. Please decide whether you want to avoid USA or you want to deal with them?
Transactions between France and Russia work 100% A-okay. Millions of euros are also fine.

Russia is an international player, half of Europe is relying on the natural gas from Russia. It would make zero sense for them to block Russia entirely.

 

[iloveyouguys]

avalanche said:
Wtf mate. Please decide whether you want to avoid USA or you want to deal with them?
Transactions between France and Russia work 100% A-okay. Millions of euros are also fine.

Russia is an international player, half of Europe is relying on the natural gas from Russia. It would make zero sense for them to block Russia entirely.
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If the sanction comes, what am I gonna do with the money in my US bank? Wire it to my Russian bank? You think they'll allow that?

 

[avalanche]

iloveyouguys said:
If the sanction comes, what am I gonna do with the money in my US bank? Wire it to my Russian bank? You think they'll allow that?
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I dont know about this stuff, I was never sending money from the US. But I assume it should be okay as long as you dont do stupid s**t like opening account in Russia without any preparations and them pumping it with unlim supply of dollars.

But the fact that you are afraid of sanctions by US at the same time you entrust your money to US banks... makes me wonder whats your game lol

 

[iloveyouguys]

avalanche said:
I dont know about this stuff, I was never sending money from the US. But I assume it should be okay as long as you dont do stupid s**t like opening account in Russia without any preparations and them pumping it with unlim supply of dollars.

But the fact that you are afraid of sanctions by US at the same time you entrust your money to US banks... makes me wonder whats your game lol
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What fact?

 

[Milky Moon]

If Trump decides to sanction your country, changing banks is not a viable solution. You need to think differently.

If your country is 'not liked' by the US, you need to have a passport and residence available that is 'liked' by the US. Use that passport for your banking needs, and you will not have to care about the us, UNLESS, you are yourself listed on said list.

Investigate for suitable second passport countries. (you have to be able to travel, and you do need to have some financial resources).

 

[iloveyouguys]

Milky Moon said:
If Trump decides to sanction your country, changing banks is not a viable solution. You need to think differently.

If your country is 'not liked' by the US, you need to have a passport and residence available that is 'liked' by the US. Use that passport for your banking needs, and you will not have to care about the us, UNLESS, you are yourself listed on said list.

Investigate for suitable second passport countries. (you have to be able to travel, and you do need to have some financial resources).
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Banks give you notice to take your money if US sanctions your country. If that happens youd just wire the money to somewhere else like Russia, somewhere who doesnt care about US and US allies sanctions. Isnt this good enough?

Passport solution would be better but isnt this good enough?

 

[hernanday]

I'd be looking at other sanctions nations. If I was in Lebanon and faced sanctions, maybe I'd bank in Cuba or Russia. I would also be looking at countries where there are vault services and the staff are too stupid to know your nation is under sanctions so allow you to have a vault there.

 

[exprtadvisrdev]

Do you have a second passport? A second passport has helped me in those situations. USA blocked my country and after some some months platforms like TransferWise and PayPal blocked my account but because I have a second passport I was able to just change that (it wasn't quick tho) and keep both accounts.

Now with real banks the story is different, I open my banks accounts with different nationalities so in case one give me problems the others don't care about it because is a different country.

BTW since USA blocked my country, Panamanian banks haven't cared about it so maybe those banks could help you.

Note: I'm assuming that you won't live in the blocked country.

 

[Martin Everson]

iloveyouguys said:
In other words, what reputable banks accept people from Iran, let's say?
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You can try the Swiss banks bcp bank (i.e Banque De Commerce Et De Plcements) or Reyl Bank if you have money. However with Trumps latest aggression against Iran I don't know if they are still accepting Iranians any longer as we speak.

However US sanctions is something all banks follows so if sanctions hit your country like they could mine then you want money outside the banking system and investing in a second passport and residency as mentioned.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[iloveyouguys]

eadeveloper said:
Do you have a second passport? A second passport has helped me in those situations. USA blocked my country and after some some months platforms like TransferWise and PayPal blocked my account but because I have a second passport I was able to just change that (it wasn't quick tho) and keep both accounts.

Now with real banks the story is different, I open my banks accounts with different nationalities so in case one give me problems the others don't care about it because is a different country.

BTW since USA blocked my country, Panamanian banks haven't cared about it so maybe those banks could help you.

Note: I'm assuming that you won't live in the blocked country.
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So you contacted customer support to change your account details, residency and nationality? It was slow like 2 months?

How much did the nationalities/passports cost you? I don't know if I can afford a new passport based on my research.