Very simply, you apply for an account with them, choose which currency (currencies) you want and which other services you require. Once approved you get access to their Internet banking where you can managed your accounts.
Euro Pacific Bank
- Thread starter JohnLocke
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Do you actually consider the different in the time zone! They usually reply prompt, pretty fast support.
Usually, we have a reply within 7 hours. You may resend your e-mail and make sure that it isn't going into any ones spam filter! You may even want to call them by phone:thumbsUp:
You will be in the IRS database but you have to understand the process of every tax administration.
If you don't have any account on the US soil and you stay in the US only on the purpose of travelling (less than 90 days/year will trigger nothing) then your tax administration will never have the idea to ask something to them. And even if there is nothing is guarantee that the US will share something.
Maybe your Tax administration will need a court order for obtain such information.
If you don't have any account on the US soil and you stay in the US only on the purpose of travelling (less than 90 days/year will trigger nothing) then your tax administration will never have the idea to ask something to them. And even if there is nothing is guarantee that the US will share something.
Maybe your Tax administration will need a court order for obtain such information.
Completing a W-8 BEN does not compromise your privacy. It is purely a way for a bank to certify that you are not a US person. It also to ensure that as paying agent it is withholding the correct amount of tax and paying it to the IRS. The form is not even given to the IRS but must be made available for inspection if requested (not sure if this has changed in recent years but W8-BEN have always been kept internally at a bank).
The big issue is that Puerto Rico is risky. They have around 44 offshore banks and 22 of them were︀ established in last 2.5 years. Now you explain the reason behind the doubling of the︁ banking sector in a bankrupt country. Perhaps its just a coincidence the banks all got︂ established in wake of CRS coming into force also including EPB. You have limited secrecy︃ with FATCA (which is bilateral) and with a tax assistance request from a foreign government︄ under the existing double taxation agreements (DTA) the US has signed your details can be︅ obtained easily. Remember your home country can do a John Doe summons for all accounts︆ belonging to that country that are held in Puerto Rico.
The big issue is that Puerto Rico is risky. They have around 44 offshore banks and 22 of them were︀ established in last 2.5 years. Now you explain the reason behind the doubling of the︁ banking sector in a bankrupt country. Perhaps its just a coincidence the banks all got︂ established in wake of CRS coming into force also including EPB. You have limited secrecy︃ with FATCA (which is bilateral) and with a tax assistance request from a foreign government︄ under the existing double taxation agreements (DTA) the US has signed your details can be︅ obtained easily. Remember your home country can do a John Doe summons for all accounts︆ belonging to that country that are held in Puerto Rico.
Thank you Martin, I didn't realize FATCA was bilateral, thought it was a one︈ way street hence all the huffing and puffing by the EU towards the US not︉ signing up to CRS. Yes, agreed it is no coincidence that the offshore banks have︊ increased in PR due to not having to comply with the CRS for now. EPB︋ moved there end of last year from St. Vincent. But what you are saying is︌ home country tax offices can go on fishing expeditions. The bank currently has no obligation︍ to comply, but you are saying the US IRS could request EPB to hand over︎ my W8 and check my account? Then hand that over to home country tax office.️ So it sounds that home country tax office would have to approach the US IRS and make a request along the lines of we want you to give us all details of account holders from our country for every bank in Puerto Rico. That's a helluva big request. Has this ever happened?
If so what would you recommend if you want to maintain some privacy under CRS? Is there a limit for a company account that doesn't require reporting? Or is $100 enough to trigget auto reporting by the bank? No choice but to get a visa from a zero tax country or one with︀ terroritory tax system?
Thanks again for all the answers above.
If so what would you recommend if you want to maintain some privacy under CRS? Is there a limit for a company account that doesn't require reporting? Or is $100 enough to trigget auto reporting by the bank? No choice but to get a visa from a zero tax country or one with︀ terroritory tax system?
Thanks again for all the answers above.
this is exactly why I hate the situation as it is right now! It seems the world is changing too fast and hiding your money gets even more complicated than ever before 🙁
crypto, darks, offshore company and IT security may be the only way through this hell!
crypto, darks, offshore company and IT security may be the only way through this hell!
Anyone experience with Euro Pacific, good or bad? Are they secure/reliable?
I need a second offshore business account and probably a personal account. Will want to wire high five figure sums from an existing business account.
Also what sort of information do they request for opening?
Thanks
I need a second offshore business account and probably a personal account. Will want to wire high five figure sums from an existing business account.
Also what sort of information do they request for opening?
Thanks
You can find endless threads here on the forum about them. You may use Google to search the forum and it will reveal a lot of threads to you.
Personally I have been using them for a long time, but never really for banking, I think a single time for years ago. I like some of the EMI's and Cyprus banks, but that's my personal opinion.
Personally I have been using them for a long time, but never really for banking, I think a single time for years ago. I like some of the EMI's and Cyprus banks, but that's my personal opinion.
You really need to ask whether you need a bank or whether an EMI will serve you better. EPB has been around for a while but it is clunky compared to any modern Fintech EMI.
What does it mean, not only invoice but proof of invoice also? Could you please give an example?
Outgoing Wire Transfers | Incoming Wire Transfers
If it is a third party wire transfer greater than $5,000, you will be required to complete a Payments Form and include relevant supporting documentation. If you do not attach supporting documentation or are uncertain, our Compliance team will send you an Online Banking message to assist you before executing the outgoing wire transfer.
If it is a third party wire transfer greater than $5,000, you will be required to complete a Payments Form and include relevant supporting documentation. If you do not attach supporting documentation or are uncertain, our Compliance team will send you an Online Banking message to assist you before executing the outgoing wire transfer.
WOW Good luck getting your money out in a crisis..lol. Still not sure why anybody would use EPB.
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