What countries still have relatively good banking privacy?

[DeepDrilling]

Forester said:
one answer comes to my mind automatically: Liechtenstein. As LI is not a participant of the Lugano convention, any EU court judgement means nothing there; and if it is a civil case where just someone is interested in your money (not a criminal case like drug trafficking, trade with people etc., where LI authorities will co-operate eagerly), this person must sue you in Liechtenstein, which is not an easy (and cheap) task, definitely not. And LI banks are solid.
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what about tax dept that you didn't paid in your EU home country, they can collect it in Lichtenstein according to EU rules?

 

[Forester]

DeepDrilling said:
what about tax dept that you didn't paid in your EU home country, they can collect it in Lichtenstein according to EU rules?
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?? Lichtenstein is not an EU member, so no EU rules can be applied there. I am not aware about any special agreement between LI and EU concerning collecting of tax debts and I would be really surprised if any such existed. Of course, if your EU home country wins the case against you at the LI court (naturally, it may happen if the case is clear), then they will grab your money without hassles... 🙂

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

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[Forester]

BTW,

cionide said:
"At present, you must be resident in Switzerland, Liechtenstein, Austria or Germany to be able to invest responsibly with wiLLBe."
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cryptofriendly said:
Just a resident? Nothing easier than that, rent a place for a month in one of these countries and register with the city.

No need to wait till you own millions to open an account 🙂
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cryptofriendly said:
And that's really easy done, even on a tourist visa you can register with the city.
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@cryptofriendly , are you sure that in CH and LI it is really so easy? Honestly, I've never needed it so I've never tried but if it is, I'll be really surprised.
(Yet I believe that in AT or DE it is easy and especially for EU nationals it is really no trouble, so problem solved 😉 )

(I guess they are not talking about tax residency. Can you comment, @jafo, according to your experience?)

Marshal said:
True. They are probably following Switzerland in this regard. Some Swiss banks also easily open accounts for residents of neighbouring countries.
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As per my experience, it concerns all DE-AT-CH-LI region; they are all somehow mutually friendly re: banking opportunities.

scooterguy said:
LI is not suitable for mid 6 figures.
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jafo said:
Why do you say this? 🙄
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I guess that because of they are simply not well accustomed there to park and maintain such amounts on investment accounts... (I do not speak about accounts of locals.)

jafo said:
I'm trying to understand if you mean we need to open the account with more or less. It's not clear to me.
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🙂 More ”“ or go with wiLLBe 😉

scooterguy said:
Maybe spread things out across different countries outside of the EU. For example, the Barclays International account in the UK can be opened with a deposit of £100,000: International Bank Account | Barclays International Bank.
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Barclays International is fine but do not overlook that you will get there the same (OK, almost the same 😉 ) level of absence of privacy as in the EU...

scooterguy said:
You can also open another account in the US,
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Yes, if you believe that FATCA will remain unilateral; or choose a state where it is really difficult to sue you from abroad...

jafo said:
Any recommendations? State and banks?
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Honestly, I possess no experience with this; but my guess would be some state that is really conservative, self-governing, quite closed and with the absence of a common knowledge that there is also something outside the US border 😉 And some local bank, nothing like JPM Chase, BoA, Citi, Wells Fargo.
But generally, I do not believe in Uncle Sam, I must admit.

scooterguy said:
and maybe a couple others in SEA countries.
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The same objection as for Barclays International... 🙁

scooterguy said:
And leave a little bit to take your ex-wife shopping. It will make your life far less stressful.
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🙂 🙂 🙂

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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...

 

[jafo]

Forester said:
(I guess they are not talking about tax residency. Can you comment, @jafo, according to your experience?)
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I NEVER register anywhere. *** smi(&%

But yes, some of my more "gullible" & uninitiated childhood friends & relatives easily register in most places they arrive and open local accounts, but they have NOTHING for the unnameable to apply "disgorgement" to. So they are safe. 😉

*** PS. I prefer the Bubonic Plague to be in the vicinity of useless and unproductive gang members under the ruse of "government." Hence, I would NEVER EVER willingly go up to ANY of them! rof/% Exception? I do tend to trust firefighters, though. 😉

 

[scooterguy]

Forester said:
The same objection as for Barclays International... 🙁
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Many SEA countries don't even have CRS in place, so there should be more privacy by default. Not to mention that one can open the accounts as a resident, since residencies in countries such as Cambodia, Philippines or Thailand are easy and cheap to obtain, allowing you to open multiple accounts in each country.

Therefore, it becomes relatively easy and cheap to split at least $100-150k in 3 or 4 different countries across multiple accounts, which, by the way, usually have no fees or laughable ones in the worst case (like $10 a year).

Even if an ex-wife suspects you have something like $30,000 in some bank in Cambodia, good luck to her with all the bureaucracy to go after it...

 

[Forester]

scooterguy said:
Many SEA countries don't even have CRS in place, so there should be more privacy by default. Not to mention that one can open the accounts as a resident, since residencies in countries such as Cambodia, Philippines or Thailand are easy and cheap to obtain, allowing you to open multiple accounts in each country.

Therefore, it becomes relatively easy and cheap to split at least $100-150k in 3 or 4 different countries across multiple accounts, which, by the way, usually have no fees or laughable ones in the worst case (like $10 a year).
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Sure. I was under impression that you had in mind frequently used locations as HK or SG. (Thailand is under CRS, BTW.)

Would you believe in these countries, to park there some remarkable assets? I am really just asking, I have no founded opinion...

scooterguy said:
Even if an ex-wife suspects you have something like $30,000 in some bank in Cambodia, good luck to her with all the bureaucracy to go after it...
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Yes 🙂

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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...

 

[scooterguy]

Forester said:
Would you believe in these countries, to park there some remarkable assets? I am really just asking, I have no founded opinion...
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Not too remarkable, but parking $100-150k across a few SEA countries shouldn't be an issue. Many SEA countries also have deposit insurance, usually in the range of $30-50k per account.