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Amazing that your point is not obvious to anyone on this forum! Also, there will be no hiding from the tax man in any jurisdiction if you expect to be able to transact internationally. Of course, depending on the jurisdiction, one might be able to find out the owners of a company, or maybe not...

So at least you concede that the expense is real, though perhaps not "unacceptable" given it is the biggest bank in Switzerland. Bravo! Have you bothered to read the threads on this forum? Does it appear to you that the typical poster is looking at UBS for an account? If it were easy to open an...

Actually, you HIJACKED this thread to spew your nonsense about USA banks. Were you personally burned by a USA bank? I have not been proven wrong in the least. Your wire fees are NOT cheaper when to access them you must spend CHF 240/year and have a CHF 10k minimum on deposit. Funny how you just...

Missed using UBS debit card outside Switzerland...another 1% fee and fx markup by UBS! 1% of the amount, at least CHF 1.50, UBS foreign exchange sell rate The exchange rate includes a surcharge. This can be consulted at ubs.com/cards when using the UBS exchange rate and requested from customer...

Nice try, but convenient of you to leave out the TOTAL cost of the account to access such a rate for said transfers: Traditional: paper-based bank documents and/or credit/prepaid card statements ”“ CHF 15 with total assets of at least CHF 10,000 held with UBS or with a building fi...

And here are the participants in CRS: CRS by jurisdiction - Organisation for Economic Co-operation and Development

I think the US offshore loophole is more related to what the IRS actually reports to those who sign FATCA agreements. See this quote: IRS Launches International Data Exchange Service FATCA | Internal Revenue Service Where a jurisdiction has a reciprocal IGA and the jurisdiction has the...

What the USA reports depends on the FATCA IGA agreement the USA has with the country you tell your USA bank you are resident for tax purposes. Look here: Foreign Account Tax Compliance Act (FATCA) And here is the key quote from Article 2, section 1 of the Model 1 IGA agreement: Subject to...

As to your point: So you have a coop type points card for your bank UBS had this over 15 years ago called Key Card club points, other European banks have the same nonsense. i.e free insurance, VIP lounge at airport, free travel insurance etc etc. Sure, Euro banks have the perks. But how much...

Care to post specifics? For example, how much do you pay for a SWIFT transfer of USD or EUR 100k? Is it a flat or variable charge? What bank do you use and can we verify it online with a fee disclosure? For USA banks, forum members look here: Wire Transfers: What Banks Charge - NerdWallet

Indeed...but some other "experts" seem to see it differently!

So having a bank account in the USA "connects" one to the USA? Wow...what other nuggets do you have for the forum? And please elaborate on your OPINION that a USA bank account is worse than a OECD/G7-1 for an offshore company, which we will assume is USD based? I have listed my OPINION as to why...

There is no real risk relative to any other legitimate bank in any OECD/G7 country. Unless you have something to hide or other strange circumstance, that perhaps some tiny, obscure bank will ignore, at YOUR OWN peril of course!

Who said anything about "connect"ing financial affairs to US bank? Are you implying all eggs to be put in one basket? First, having a US bank account (among others) for offshore company is good thing. I suppose a wire transfer from some obscure bank in the Caribbean, Eastern Europe, etc will...

You are correct...if you ONLY use EUR and not any other currency and don't have a credit or debit card. Otherwise, the USD banking system is equally efficient (ACH transfers are free at almost every bank...used for bill pay and to move money) and vastly superior customer service. Many banks also...

Care to share why, if possible, one would NOT want to have an account in the most efficient, least costly and best customer service banking system? I have nothing to hide from any tax authority so, really, I am curious to the what you see as the downside.

Spoke with PNC branch in Florida. Indeed, they can open account for BVI company but you must register the company with the Department of Corporations in Florida and have Florida based registered agent (can be yourself) with an address in Florida for service. Initial fee is $78 with an original...

Care to share which NY bank? Contacted Chase and was told not possible outside Private Bank...which means LARGE account!

EIN not a problem to obtain and I would think all the banks would require that. I realize that this won't be easy but it IS possible as I know many companies who are in BVI with USA accounts. They have much larger balances and no doubt generate much more revenue for the USA based banks. Issue is...

Hello..and thanks in advance to anyone who might be able to assist. I am looking to open a USA based bank account for my newly formed BVI company. I am NOT a USA person and the company has me as both sole owner and Director. Using company for asset protection, tax planning and to receive...