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Their response: " We fall under exclusive Singapore jurisdiction, meaning we must follow only Singapore laws. Physical gold/silver/platinum are not considered financial instruments in Singapore - which means that Silver Bullion (SB) does not have reporting requirements to the Singapore...

I think you would like this letter: 2023 letter | Dan Wang

Also banks are not huge fans of such shell over shell structures

Also, when onbaording me, they did a "zoom tour" of the premise, and one of the guy was repeating to me that my parcels are "safe" and singapore will never communicate or report proactively (although I did not request any confirmation on that) I read the P2P user agreement and there is no...

oh wow really??? home country or tax residence? I just sent them an email Last edited: Jan 24, 2024

Maybe in 2200 :)

Jan 2024 update: PLATINUM Membership Membership validity of 10 years. A 5-year multiple-entry tourist visa, renewable for another 5 years. It costs 1.5 Million Thai Baht with no annual fee.

Btw, anyone has expressed doubts about SilverBullion on this forum as I am quite new? I am wondering why their are using an unknown auditor for such an important exercise ( precious metal holdings!). I am considering to buy more gold with them, hence the question

It is for sure hard to predict. My point is that when you convert 500k USD into THB, any rounding error over 10 years can far exceed the 40k of the elite visa.

Context: I calculate my networth in USD to avoid debates :-) Let's say I invest 500k usd in Thai bonds, I see the 10 year bond are yielding 2.5%. We can assume the THB will depreciate by 20% over 10 years, net loss in USD is 18.5% after 10 years, equivalent of ~ 90k USD. Maybe more interesting...

Yes, I know Chinese do it all the time, it was a question to Martin who said any evasion is an internationally acknowledged crime

Let's assume you own a regulated exchange: if you are contacted by a Chinese guy asking you to buy his bitcoin (after doing KYC and SOF), would you refuse because you presume he bought his bitcoin in China and bitcoin is illegal there? Is converting Bitcoin from China a financial crime? Maybe...

I can reassure you it is a legitimate inheritance, I am paying 10% tax on it there, and I am asking my tax guy in Cyprus about it now. That's the way I see it: how to navigate backward, unpopular and lazy regulation from the seventies that the current government is too scared and incompetent to...

Thats probably one option I've missed while searching, I will look into it!

Bad reviews of Trastra here: TRASTRA. and inactive reddit group

Oh yea, I never said there is no local consequence in Tunisia. See my post above when I had 2500 usd in my wallet (that are always with me in case..)

Good and sound approach, and absolutely agreed. "Domestic" bank is Revolut and they don't have someone I should contact beforehand apprently, but I will ask the online support...:-)

Thank you. I got "caught" with 2500 usd once (undeclared, I genuinely did not know). I had to write a letter to the judge or something to explain that I was not aware of the capital control situation. So travelling with cash to Dubai is impossible....

I think his point is that the KYC guy will be too lazy to investigate or appreciate the situation, regardless of the macro dynamics and US agenda..?

SGD is also semi pegged to a basket of currencies and might be devaluated to encourage exports. Same for AED, it can also devaluated to encourage more investments after another bubble collapse..? Same for CHF. Hence diversification, I got that, but Singapore government or the emirati familes...