Offshore Banking, the safest countries for my money?

[Houdini]

Can you mention the best offshore banks in your opinion located in some safe countries which are save to deposit 400,000 euro ? I can place them in US$

I'm not interested in other suggestions, just banks and their countries, if there are any 😀

 

[AlicaFunk]

DBS or OCBC Bank in Singapore, both open accounts for foreigners, I don't know if‌ they do remote account opening.

Switzerland with UBS and PostFinans could possibly work for you,‍ requires good setup in Switzerland.

 

[janissary]

The Singaporean banks generally don’t⁠ do EU residents unless you are a client of their private banking division ($3 –⁤ 5m).

UBS unless you have Swiss residency would need to be CHF 2m.

 

[JohnnyDoe]

Houdini said:
Can you mention the best offshore banks in your opinion located in some safe countries which are save to deposit 400,000 euro ? I can place them in US$
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You have been a member since 2016. You should by now have learned that by definition fiat, banks and countries are your enemies.

Houdini said:
I'm not interested in other suggestions, just banks and their countries, if there are any 😀
Click to expand...

Seeking validation is dangerous.

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[AlicaFunk]

Sometimes you‍ need them anyway 😉

 

[JohnnyDoe]

AlicaFunk said:
Sometimes you need them anyway 😉
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Yes, not for “safely deposit” any money though.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[yngmind]

I would keep the money in the brokerage accounts in the different countries.

But SG‌ seems like a solid option.

 

[Martin Everson]

Where are you based? If in EU or UK you can⁠ use a service like Raisin to split among 4 banks of your choice (from list)⁤ outside your country to stay under state deposit protection.

Otherwise any EU bank with a⁣ custody account and park cash in short term treasury and keep rolling. Custody accounts are⁢ ring fenced in case banks collapses and wont form part of BRRD.

P.S No such︀ thing as safe country any more i.e US was considered safe then Trump took office.︁

 

[ilke]

Banks and safest is an oxymoron, unfortunately.

Why not just holds bonds/MMFs if you want‌ something fiat-linked?

Otherwise maybe US below insurance limits or SG/HK but those usually ask unreasonable‍ starting deposits.

Or just some EU/UK EMIs with smaller amounts in each – there is⁠ tens available easily, at the least. In general, they are quite safe (in the grand⁤ scheme of things), thanks to safeguarding systems. The bigger risk there is compliance monkeys, but⁣ you cannot avoid those wherever you go on the continent of regulation.

 

[Martin Everson]

Relying on US FDIC‌ is like Zelensky relying on US support right now. FDIC almost went bankrupt during 2009‍ crisis as I discussed below.

Hopefully Musk does not make FDIC go the way of USAID. I would︃ not stake any money I care about on taking unnecessary geopolitical risks even if slim.︄

 

[yngmind]

You made me think.

Most of my net worth is in U.S. stocks, held in U.S. brokerage accounts.

 

[daniels27]

Just use a Kantonal Bank in Switzerland which has state guarantee. Or PostFinance as mentioned‌ above. Just don't cry if fees are too high. You can get a residence permit‍ as any EEA citizen and then just keep the address and the account.

Singapore, HK,⁠ etc. works too.
HSBC Premier

Not sure what still goes under off-shore by your definition.⁤ Beware that if all goes down, this will go down too. (But rest assured that⁣ in that case liquidity would go down too, meaning stocks, real estate and crypto also⁢ goes down).

 

[Forester]

I second this. UBS mentioned above is IMO far from being good.⁤

You probably also want to check some banks in British Crown Dependencies, Barclays Isle of⁣ Man would be my first choice.

Yes. But IMO HK is definitely less safe than CH or British Crown Dependencies,︀ SG probably. (Of course, CH is far from being a rock solid haven as it︁ was in the past.)

I'm not a fan︂ of HSBC, definitely not. Yet I admit that the onboarding there is one of the︃ easiest.

Again, I second this.

 

[Clank]

All Singapore banks now do⁠ remote account opening.

 

[daniels27]

Yes, but‌ they also require EP (Employment Pass) for normal accounts?

 

[cionide]

There's a few banks in luxembourg that have 500k minimums only. HSBC in Jersey requires‌ only I think 100k GBP minimum nowadays and will open for most EU citizens -‍ and while Jersey is a small country HSBC is one of the biggest banks in⁠ the world and wouldn't be allowed to fail.

 

[Clank]

They only open premier accounts for non-residents online.

 

[Martin Everson]

Don't waste your time with UBS. That‌ is a bank that was bailed out by Swiss government during 2008 financial crisis. Swiss‍ banks and conservatism and the Swiss financial centre is not what it used to be.⁠

https://www.swissinfo.ch/eng/busine...ubs-the-biggest-swiss-bank-was-saved/44474630

 

[Houdini]

I followed the suggestion here, found five different EMIs, and split my money between them.‌ I put the 100K back into BTC and now just hope the money doesn’t disappear.‍

 

[providenceventurer]

Care to share which emis you decided on?