I have an EU bank account. The country i am from at the moment doesn't have a crs agreement with the country where the bank is located. What can i do to prevent my country to know about this account in the future? Is it a good idea to buy some properties in the EU?
Bank account advise
- Thread starter xawop
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
i can't just close it, i don't know where to put the money
will the tax office in any of eu countries check me or no worries if i am not resident?
You need to invest that money in something, Gold, Art, Crypto whatever. If you are afraid of your country to "learn more" about your banking facility in some country you need to take it out and put it in something different.
I know people that at the moment we speak they have stashed 2 million euro in Gold and Silver at a save place.
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I know people that at the moment we speak they have stashed 2 million euro in Gold and Silver at a save place.
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How can I buy gold using my bank account?
I can't come up with smth other than some apartments. No crypto.
Check out this thread
https://www.offshorecorptalk.com/threads/buy-gold-for-bitcoins-anywhere.26225/
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From any gold dealer. Also use storage service they offer to keep it simple. You want to pick a dealer outside the EU due to EU asset registers. So a dealer in Singapore such as Bullionstar or SGPMX or even a dealer in Cayman Islands such as SWP.
You simply open the account online then wire them the money and then purchase the gold.
Depends on EU country. All will want to know source of funds and some countries may ask awkward question such as UK does now. If in any doubt then just buy outside EU.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
I'd like not to buy gold now since it's overpriced
Does Switzerland also have an asset register?
Does this incur an aml check at the bank? I don't think they will allow a 6 digit transfer without any checks
Is source of funds enough or do they need a tax forms also?
I think a wire outside EU will trigger tougher aml checks
Not to my knowledge and it is questionable whether they will follow EU rules in that respect considering they are considered a safe haven. I do remember rumours years ago of swiss freeport having to submit details of peoples assets held there but didn't follow the story.
Depends if buying precious metals is considered a high risk or even banned activity at your bank.
Depends on country, broker for real estate etc etc.
Anything nowadays can trigger an AML check or re-KYC of your relationship. It's all part of keeping your money digitally in the system.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Change a residency to a country, which has a territorial tax system, or which is not CRS member..