Remote bank account opening in non AEOI/CRS country?

[davideu]

Is there a bank in a non AEOI/CRS jurisdiction where you can open a personal bank account remotely?

 

[negon]

Look at the Cyprus banks around! They will all let you open accounts remote. Otherwise look into LeuPay, Revolut and Worldcore

 

[davideu]

Cyprus is an AEOI/CRS jurisdiction so it's not a good answer for this question.

 

[diablo]

There is no such country therefore he mentioned the other EMI providers! Forget about banking with real banks and without reporting! It does not exists and not at all for personal accounts!

 

[JoJo]

Attention on Leupay .. the have STATA Bank in the background and they will report AEI

 

[davideu]

There are several countries which are not participating in the AEOI/CRS framework. The only question is whether there is any bank in one of those which is willing to open an account remotely. I'm not looking for any tax advantage and I don't need this for tax reasons but for privacy reasons.

 

[Milky Moon]

Puerto Rico (USA) is outside AEoI/CRS, so you might open an account with europacbank.com, they offer remote openings.

 

[davideu]

Yeah but in the US there is the IGA which is the same as CRS for natural persons. Here is the list of the non participating jurisdictions: Countries Which Will Not Automatically Exchange Account Information

 

[Milky Moon]

davideu said:
Yeah but in the US there is the IGA which is the same as CRS for natural persons. Here is the list of the non participating jurisdictions: Countries Which Will Not Automatically Exchange Account Information
Click to expand...

My US accounts do not have my TIN registered nor are they included (automatically) in my tax overview.

 

[Luigi]

There are many jurisdiction where you can open a bank account remotely, however I'd do it with caution. Euro Pacific Bank for example requires a few documents, including a recommendation from your local bank and their fees are very high, like 10 dollars per transaction.

 

[davideu]

In my opinion they'll send your account information anyway because they're obligated to do so whether with TIN or without. That's why they signed the IGAs with so many countries and now they're going to send company account's too from 2018 or 2019.

EuroPacific is IGA jurisdiction. In other words automatic exchange of information, same as AEOI/CRS.

 

[Okanda Fernando]

USA, Sri Lanka, North Cyprus

 

[davideu]

Like I said, US is an IGA jurisdiction which is the same as AEOI/CRS. Northern Cyprus is a risky jurisdiction and I guess there aren't many banks in Sri Lanka which opens accounts remotely.

 

[superman]

@davideu
If you check my posts you will find some proposal, generally ME and RS. Usual you will give a POA to a attorney/trustee who will open a Bank account in your name, let's name this Remote opening.
I personal have only good experience with Banks in both countries and actual all the time I would prefer them to any CY/BZ Bank plus you got as benefit no AEOI.

 

[davideu]

What's ME, RS and BZ? CY should be Cyprus.

 

[Milky Moon]

ME=Montenegro
RS=Republika Srbija/Република Србија (Republic of Serbia)
BZ=Belize

 

[Luigi]

 

[Jean Dupuis]

Hello,
any one have experience about Puerto Rico bank,
looks great in my case : digital nomad and i want to be outside of AEOI/CRS country,
thanks by advance.

 

[diablo]

If you find any bank in Puerto Rico that opens remote please post here 😉

 

[Mark34]

Euro Pacific bank is in Puerto Rico and open accounts remotely. I think they will not report anything, they are not in CRS because of US and they are also out of FATCA.