[NORWAY] How do I launder my legal money?

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Lorena

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Jul 12, 2021
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I know this is a stupid question, but please bear with me.
I moved to‌ Norway about one year ago, and only received my birth number now. So, I can‍ finally open a business and a bank account in Norway.
I’ve opened a bank account,⁠ still didn’t open a business (I’m going to register an AS).

Here’s the thing. I’m⁤ 24, non-EU. I worked since I was 14, and had my own business since 18.⁣ I closed it before moving to Norway because legally, I couldn’t keep working while waiting⁢ for my residence permit. I don’t want to give too many details but the business︀ was IT-related, providing a service, and something I can do from Norway as well. That’s︁ the AS I’m going to open.

My bank account in my home country currently has︂ a balance of about 100,000 euros.
I transferred 1,400 euros to my Norwegian bank account,︃ and I got an email saying they’re going to need me to prove that this︄ money is legal. Which it is.

Alright. I did. I sent them a bank statement︅ in English signed by the bank manager. But no, that wasn’t good enough for them.︆ They want my bank manager to send them a signed letter saying that all the︇ money in my account is legal, and I paid taxes for it.
I’ve been calling︈ for weeks and I’m basically told by the bank that the statement is enough, and︉ that no one ever asked them to write a letter saying something like this.
So I’m stuck.

Alternatively, I can also have a notary sign and translate all my business-related︊ documents, but it’s just not worth it.

So what do I do? How do I︋ get this money from my account to my Norwegian account?
I don’t even speak Norwegian︌ yet so finding information has been super difficult. My bank is not accommodating at all,︍ they see a non-European foreigner and immediately assume I made all my money selling drugs︎ or weapons. I was literally told, “This is Europe. In banks in Norway you can️ only have legal money in the bank”.
No, really? NO WAY. Thanks for telling me,‌ Silje. I’m going to ride my camel back home now.

Any advice is appreciated.
Thanks in advance guys!
 
Can you show translated and certified financial records of your former business and bank statements‌ related to that business? Old tax returns from your country of origin?

The bank is‍ checking your Source of Funds. You'll need to bend over backwards to prove that the⁠ funds have a legitimate origin. You can strengthen your case by explaining your plans to⁤ form an AS to continue the same/similar activities in Norway.

If you come from a⁣ non-EU/EEA country, you are unfortunately considered a higher risk client. Right or wrong, the bank's⁢ assessment is that funds originating from your former country are more likely to be associated︀ with criminal activities than from intra-EU/EEA. Adding layers to hide the origin won't work. If︁ they asked about something as small as 1,500 EUR, they will ask about nearly everything︂ coming in. You'd make things worse if you add artificial layers to obfuscate the true︃ origin.
 
lol, what is this scam

My advice is that you dont move the︁ money to Norway, and stop dealing with Norwegian banks.
There're multiple banking options available in︂ other EU countries.
 
Yah, if they do not like you, just keep the cash offshore and use your‌ attached card to pay for things.
It seems its a battle you cannot win anyway‍ and will waste countless hours of your precious time.
 
if your funds in home country is legal, you had to pay taxes on it,‌ and you should have a tax declaration from home country (ask your accountant ).
Your option is to get your tax declaration (proof that you paid tax) ,notary translate to‍ Norwegian then do apostille on it.
Then provide it to your Norwegian bank
 
why would you bring your money to a hostile bank/country without any significant reason -‌ it's like keeping your savings in Canada, lol
 
If a bank asks you intrusive questions about a mere 1400 EUR transfer it's a‌ sign you should never deal with this bank again. Tell them to return the funds‍ and close the account.
 
0 lol‌ or to be honest maybe a thousand dollars, and if you do it many times‍ you will most likely get your account terminated
 
@Lorena I feel so disgusted by the treatment you have been receiving by your Norwegian‌ bank. If I were you I wouldn't move even 1 more euro over there. What‍ a fucked up thing to say "we only accept legal money in Norway"

What's that?⁠ This European mindset where you are considered guilty until you can be proven innocent is⁤ f**k*d up.
 
Why would you want to keep your‍ money in Norway anyways?
Why would you want to move your money into one of⁠ the highest tax regimes on the planet?
Don't you see that if you move a⁤ lousy $1500 EUROS to the account they are suspicious of you? That hardly even pays⁣ the rent in Oslo. You have a bank coming at you for what is half⁢ of a rent payment, no amount of documentation you can provide them will ever make︀ them happy, what will they say when you move another 90k euro in? Imagine what︁ they'll ask for?

That being said, why is it hard for you to show the︂ source of these funds?
Do you not have pay stubs from your job?
Do you︃ not have receipts, invoices and CC statements from your customers?

How did you legitimately earn︄ this money, were you not paid with some paperwork involved?

If you had drug money,︅ it would be easier to launder than whatever you are describing, b/c it sounds shady.︆

If you had drug money, you'd just open an Fancy Italian restaurant and charge 30x+︇ your cost and flush the wine down the drain and comp a bunch of free︈ meals to customers so they keep coming back and eating the 10 cent pasta but︉ you put $1000 on the bill and be cash only. In no time you'd have︊ a few millions sale and can show your illegal drug money came from your restaurant.︋ You don't have the criminal back ground to money launder effectively.
 
If you've got 100,000 it's‍ an issue to pay a few to get it notary signed and translated? Seems like⁠ a no brainer.

Others have suggested don't keep all your money in Scandanavian countries don't⁤ deal with that bank vote with your feet to another one
 
The world has gone mad, eventually crypto will be the only way. I'm building myself‌ mentally now.

Every bloody move I make, trough banks to emi's trough everything, KYC, AML,‍ Source of funds, proof of income, proof of x, declarations etc.
Opened myself a Us⁠ LLC as EU citizen. 0 Tax in US, 0 Tax when I use the company⁤ money.
Screw EU and all it's stupid laws, it's probably a matter of time till⁣ I live this s*hole.
 
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