Banks that accept customers from 'medium-high risk' countries for personal accounts?

[CCLogicFan]

I'm struggling to find banks that will accept customers from my country (Pakistan). I have a senior managerial job and earn a fairly high salary, and have all my KYC documents ready, but most banks don't want to know simply on the basis of my nationality.


Are there any particular banks, anywhere in the world, that may be less discriminatory and consider applications from higher risk countries?


Ideally I'd like to open bank accounts that have full online banking facilities and accept applications without potential customers them having to travel to the jurisdiction in person.


Thank you very much in advance for any advice.

 

[JohnLocke]

Hello, welcome to the forum.


As I understand it is a personal bank account you want to open, am I correct?


What business are you into? You could consider to incorporate a simple offshore company for instant in Belize or Seychelles and open an account in Cyprus for this entity, that should work depending on what business you are into.

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[DeMajor]

What bank did you try? Do you have a valid passport and utility bill?

 

[CCLogicFan]

Thanks very much for the replies!


I appreciate the advice.


I'm a property investor... buy and selling real estate (in the UK).


I didn't want to go through all the hassle of setting up and managing a company (compiling and filing accounts every single year etc.) just to have a bank account.


Yes, I do have a valid passport and utility bills, plus lots of other things like reference letters from my employer, bank statements etc.


I have tried banks such as Barclays, Santander and Lloyds in Isle of Man, plus many others in other jurisdictions such as Euram in Austria, but they have said they can't even accept applications from someone with my nationality or, where they have said they will consider an application, then rejected me.


Any recommendations of any banks I could try please?

 

[JohnLocke]

Thanks very much for the replies!
I appreciate the advice.


I'm a property investor... buy and selling real estate (in the UK).


I didn't want to go through all the hassle of setting up and managing a company (compiling and filing accounts every single year etc.) just to have a bank account.


Yes, I do have a valid passport and utility bills, plus lots of other things like reference letters from my employer, bank statements etc.


I have tried banks such as Barclays, Santander and Lloyds in Isle of Man, plus many others in other jurisdictions such as Euram in Austria, but they have said they can't even accept applications from someone with my nationality or, where they have said they will consider an application, then rejected me.


Any recommendations of any banks I could try please?
Click to expand...

Well, to maintain a Seychelles or Belize company you don't need to do accounting nor do you need to file any financial reports, it's one of the simples way to conduct business in a company form.


From your brief business description it seems not to be a problem for us to open an account for you with one of the Cyprus banks if that is of interest for you.


You can find more information about the Cyprus banking and fees here, /offshore-banking/cyprus-banking.html

Last edited: May 29, 2016
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