Offshore Banking, the safest countries for my money?
- Thread starter Houdini
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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.
You have been a member since 2016. You should by now have learned that by definition fiat, banks and countries are your enemies.
Seeking validation is dangerous.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Yes, not for “safely deposit” any money though.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I would keep the money in the brokerage accounts in the different countries.
But SG seems like a solid option.
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Business Bank Account for your US LLC Remotely
But SG seems like a solid option.
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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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Business Bank Account for your US LLC Remotely
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 such thing as safe country any more i.e US was considered safe then Trump took office.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
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.
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.
Relying on US FDIC is like Zelensky relying on US support right now. FDIC almost went bankrupt during 2009 crisis as I discussed below.
[IMG alt="Martin Everson"]http://localhost/data/avatars/s/8/8698.jpg?1727588489[/IMG]
Post in thread 'Can USD kept outside the U.S.A be devalued?'
Mar 12, 2022I wouldn't rely on FDIC. The FDIC is not as safe as you think it it. I discussed FDIC in another thread in 2020. During 2009 financial crisis the FDIC was days away from going...
Hopefully Musk does not make FDIC go the way of USAID. I would not stake any money I care about on taking unnecessary geopolitical risks even if slim.
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You made me think.
Most of my net worth is in U.S. stocks, held in U.S. brokerage accounts.
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Business Bank Account for your US LLC Remotely
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).
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).
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 it was in the past.)
I'm not a fan of HSBC, definitely not. Yet I admit that the onboarding there is one of the easiest.
Again, I second this.
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
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.
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
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
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