Non CRS Banks?
- Thread starter Txaxandlxaxwxyxexr
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If people mention them in the public part of forum they will become the 5 best non crs banks that no longer take non-residents i.e Ameria bank cry&¤
Your opinion about banking in Cambodia and Georgia is already online, and is plenty online of lists of banks that do it (and that are still in the game even so).
Do you really think that if you write something on a forum everybody in the world is going to run and do it, and crowds will run into opening an account and that a bank will need to change its policies? smi(&%smi(&%rof/%rof/% you are probably overestimating your opinion smi(&%smi(&%rof/%rof/%rof/%
Do you really think that if you write something on a forum everybody in the world is going to run and do it, and crowds will run into opening an account and that a bank will need to change its policies? smi(&%smi(&%rof/%rof/% you are probably overestimating your opinion smi(&%smi(&%rof/%rof/%rof/%
Top #1 in this category is Citi (NA). Reputable bank and jurisdiction. Too big to fail. Good for deposits and transactions. Streamlined and capable compliance. No paranoia of non-U.S. persons. Keeps adapting and evolving, even after being fined many times.
Before you commit, check if your country of residence recieves something back from FATCA which is the US equivalent of CRS.
Top 2-5 also go to U.S. banks. No real competition.
After a big void, top 25-50, maybe, we get︀ to smaller offshore branches of too big to fails in the non-CRS emerging markets.
Before you commit, check if your country of residence recieves something back from FATCA which is the US equivalent of CRS.
Top 2-5 also go to U.S. banks. No real competition.
After a big void, top 25-50, maybe, we get︀ to smaller offshore branches of too big to fails in the non-CRS emerging markets.
For personal accounts only, to be more specific (my post above)
Non-CRS Banks that open for exotic non-resident IBCs should be mentioned with great caution. Preferably in Mentor Group or via PM. Let's prolong their lifespan and follow the advice of @Martin Everson
Non-CRS Banks that open for exotic non-resident IBCs should be mentioned with great caution. Preferably in Mentor Group or via PM. Let's prolong their lifespan and follow the advice of @Martin Everson
Depends on your definition of "still in the game". Georgia started gaining popularity on the Internet some 2 years ago. Fast forward to 2020 and .... it's virtually impossible to obtain (and maintain) an account with any︀ of the major banks without demonstrating significant economic substance.
The same can be observed in︁ a very large number of other cases as well. The story is always the same.︂
The same can be observed in︁ a very large number of other cases as well. The story is always the same.︂
you have to be new to the forum or just naive and ignorant if you think you can write something on a public forum without it having any consequences at some point. You are forgiven for getting︀ your foolhardy comment as you have not been here more than barely 2 months. The︁ rest of us have seen the consequences many times already.
They want the big fish, not the time wasters/sketchy clients that bring nothing to them but potential fines.
Tax havens/Non-CRS banks are increasingly discriminating against clients and cherry pick only the ones that︀ can bring them real money otherwise the risk of operating such a model outweighs the︁ potential gains.
Well established tax havens like the Caymans/Bermuda/Bahamas already do that. Even if those︂ countries do CRS they still help the big fish get away with things while pretending︃ to be compliant with the rest of their clients. You can find banks that will︄ go rogue even in on-shore jurisdictions if you have the net worth for it, there's︅ plenty of them in Switzerland/Germany/Baltic nations. Past a certain net worth the CRS issue becomes︆ irrelevant, there's always a way to bypass the rules for the very rich.
Tax havens/Non-CRS banks are increasingly discriminating against clients and cherry pick only the ones that︀ can bring them real money otherwise the risk of operating such a model outweighs the︁ potential gains.
Well established tax havens like the Caymans/Bermuda/Bahamas already do that. Even if those︂ countries do CRS they still help the big fish get away with things while pretending︃ to be compliant with the rest of their clients. You can find banks that will︄ go rogue even in on-shore jurisdictions if you have the net worth for it, there's︅ plenty of them in Switzerland/Germany/Baltic nations. Past a certain net worth the CRS issue becomes︆ irrelevant, there's always a way to bypass the rules for the very rich.
The US has different levels of agreement for each country.
FATCA essentially forces other countries to tell automatically if foreign financial institutions have US persons as clients... but there isn't true reciprocity and it is not universal. It depends on the level of agreement of each country.
The keywords are "Reciprocal FATCA IGA", Model 1, Model 2.
The "Non-reciprocal IGA"
and "TIEA"
https://www2.deloitte.com/content/d...ax/us-tax-fatca-iga-global-summary-040620.pdf
https://home.treasury.gov/policy-issues/tax-policy/foreign-account-tax-compliance-act
FATCA essentially forces other countries to tell automatically if foreign financial institutions have US persons as clients... but there isn't true reciprocity and it is not universal. It depends on the level of agreement of each country.
The keywords are "Reciprocal FATCA IGA", Model 1, Model 2.
The "Non-reciprocal IGA"
and "TIEA"
https://www2.deloitte.com/content/d...ax/us-tax-fatca-iga-global-summary-040620.pdf
https://home.treasury.gov/policy-issues/tax-policy/foreign-account-tax-compliance-act
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