Banking in non-CRS countries

[Kien]

Hello:

It's frequently noted in the forum that there are no banks that will not disclose info to your taxman.

Nevertheless, I have come across a long-standing and credible website that says such type of banking is possible in the following countries: Armenia, Cambodia, Dominican Republic, Georgia, Guatemala, Kazakhstan, Macedonia, Montenegro, Paraguay, Phillipines, Serbia, Ukraine.

The article provides general comments about the banking situation in each country; some seem recommendable, others don't.

Does anybody have experience with banking in any of them, specially Dominican Republic, Paraguay, Georgia or Armenia?

 

[Bit Tilted]

Kien, I don't have experience with the banking in those areas, sorry. But I am asking you for the link to that "long standing and credible website". It could help me in MY quest, if you would be so kind. Hope you get the answers you are looking for.

 

[Kien]

I've seen it here: Banking Privacy: 13 non-CRS countries that don't exchange information | Nomad Capitalist

Didn't post it before because I'm not sure the forum rules allow it. I can delete the post if that's the case.

 

[Bit Tilted]

thanks

 

[Kien]

Adding to the previous link's info, AOEI commitments by could try and date: https://www.google.com/url?q=https:...FjAAegQIARAB&usg=AOvVaw1BPktjKNZ61UdCTPi6S6fp

 

[negon]

Kien said:
Nevertheless, I have come across a long-standing and credible website that says such type of banking is possible in the following countries: Armenia, Cambodia, Dominican Republic, Georgia, Guatemala, Kazakhstan, Macedonia, Montenegro, Paraguay, Phillipines, Serbia, Ukraine.
Click to expand...

sorry to say so but you found all the shitholes! Who want to bank there if you love your money!

 

[Kien]

Maybe, but the more you ask from your banking (offshore, non CRS), the higher the risk you have to be willing to accept, or else you just open an account in your own country.

Which offshore banks would you recommend, negon? I've read you've had a bad experience with EPB; where are you banking now?

 

[JohnLocke]

Kien said:
Maybe, but the more you ask from your banking (offshore, non CRS), the higher the risk you have to be willing to accept, or else you just open an account in your own country.
Click to expand...

Personally I must say I'm fat up with the high risk thing. After the disaster with Mister Tango I don't want to lose more money! I have been able to open both local bank accounts in my own country as well as Cyprus and HSBC in Hong Kong by a personal trip to HK for some years ago.

I know it is not what you are looking for and if you are willing to loose some money at some point (you don't pay taxes, so there is a margin) then the countries you found are good. I know there is a large thread on the forum about banking in Serbia which you may have seen. There is also a thread about Montenegro but I can't see any useful reply to where to go to open an account in one of these countries.

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[KJK]

Don't take it for granted but out of the countries listed:

Armenia - should be possible and very easy
Cambodia - no idea
Dominican Republic - no idea
Georgia - should be possible and very easy
Guatemala - no idea
Kazakhstan - should be possible but not easy
Macedonia - no idea
Montenegro - should be possible and very easy, will be joining CRS soon
Paraguay - no idea
Phillipines - no idea
Serbia - should be possible but not easy, will be joining CRS soon
Ukraine - should be possible but not easy

 

[Larry]

KJK said:
Don't take it for granted but out of the countries listed:

Armenia - should be possible and very easy
Cambodia - no idea
Dominican Republic - no idea
Georgia - should be possible and very easy
Guatemala - no idea
Kazakhstan - should be possible but not easy
Macedonia - no idea
Montenegro - should be possible and very easy, will be joining CRS soon
Paraguay - no idea
Phillipines - no idea
Serbia - should be possible but not easy, will be joining CRS soon
Ukraine - should be possible but not easy
Click to expand...

With Macedonia I have personal experience. It's possible to open accounts for EU and most offshore companies but personal visit is required and translation of all needed documents.

 

[negon]

How is their Internet banking compared to say domestic banks in Europe? Can you wire trasnefer money directly from within the e-banking?

 

[Larry]

You can wire within e-banking and their mobile app (lower limits). Function same as domestic banks in EU but optic of their banking is lets say more practical nature.

Customer support is not so good and I don't felt my money safe so I left it. Sometimes it was very strange and their customer support need 3 weeks to get the information that the currency in mobile app can't be changed.

 

[7889]

Bank of Georgia internet banking is award-winning and is miles ahead of most EU banks i've been dealing with. No transaction limits too. Georgia is #6 country of ease of doing business index, behind only NZ, Singapore, Denmark, Hong Kong and South Korea. So not exactly a shithole. Plus territorial taxation

 

[Larry]

7889 said:
Bank of Georgia internet banking is award-winning and is miles ahead of most EU banks i've been dealing with. No transaction limits too. Georgia is #6 country of ease of doing business index, behind only NZ, Singapore, Denmark, Hong Kong and South Korea. So not exactly a shithole. Plus territorial taxation
Click to expand...

It's a business paypal account and works very smooth.