offshore loan provided for foreigners
- Thread starter matty37
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Hey,
Pacific Private Bank offers back-to-back loans if this is something you are looking for. In other words, it's a collateral loan.
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Pacific Private Bank offers back-to-back loans if this is something you are looking for. In other words, it's a collateral loan.
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It is highly unlikely that you could be granted an offshore loan, unless:
a) you have a solid cash collateral (as high as 110-130% of the loan amount);
b) you have some liquid assets in Aus or elsewhere that the loan provider would be willing to accept as collateral
It is not entirely clear your situation. But if your an Australian living in a European country with a job and track record of receiving a regular salary then ask your local bank. However if you are resident in Australia looking for a foreign loan in Europe or elsewhere in euros then you will need to collateralize the loan amount or if you have a portfolio of stocks then try a basic Lombard loan with any broker if you can. I was able to do this with internaxx in Luxembourg (as a non-European) before it became swissquote so shop around.
The process via a broker is quick if you have collateral. If you just have salary then you need a bank and can expect lots of paperwork and difficulties if not impossibilities as has been mentioned. Non-collateralized crossborder loans are suicide for a bank and only private bank will be doing this for their biggest clients.
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I was wondering if you could share more about the back to back loans with Pacific Private Bank? What sort of collateral is used? and do they acceot Isle of Man residents?
Many thanks in advance
Disguising source of funds. i.e switching dirty money to become clean money via a loan from bank. People use it to buy property in UK etc where UK want to know source of funds. You present to anyone asking paperwork showing its a bank loan.
P.S Even the Vatican launders money in UK real estate smi(&%.
https://cruxnow.com/vatican/2021/07/behind-the-vaticans-london-real-estate-scandal/
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Sadly back to back loans stopped being a good idea in early 2000's. Some banks refuse to offer this service because of high risk of money laundering as there is no economic purpose for depositing i.e EUR and getting a loan in EUR against it for example.. It's basically disguising source of funds. Some banks however will still do it (if they are compliance naive) or at least ask that the loan be in another currency so it aint too obvious 😉.
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I like this concept of compliance naive banks 😀 Seem rare as unicorns though...any example?
Not about to publish the two I know as I am still using them and I know who watches this site ca#"!.
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Not as rare as you might think. some people even buys CDs with cash and and they use these CDs as a collateral to borrow from banks, some banks even allow you to get loan of up to 95% of the value of your CDs. Then you use this loan to buy property from whatever country. and the same happens with gold, crypto and stocks. So, it's not that rare.
Yup did this with Bank of Georgia thu&¤#
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Certificate of Deposit
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Interactive Brokers does margin loans, but sadly they don't provide you with any contracts or agreements, they just direct you to their general ToS.
A cash transfer is just a cash transfer - how do you prove to a European commercial bank it is, in fact, a loan?
Last edited: Apr 4, 2022
That could actually be a huge problem if you get troubles with the tax authorities!
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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
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