Which non-CRS country would you recommend for a bank account ?

[JohnLocke]

have been there and I would personally not bank there if⁠ it is possible at all.

 

[Piano]

What are your reasons to say that ?

 

[Jerry1911]

Which country are you from?

 

[Piano]

Turner little is offering a corporate bank account in‍ N-Cyprus ..can’t be that bad then..

 

[John73]

Hello, can somebody suggest any EMI / Bank name from Northern Cyprus, Georgia or any‌ other NON-CRS country allowing to apply online? Thanks

 

[RexS9999]

Yeh but what if you live in a country ruled by‍ thieves, criminal gangs. This is the way most people in the world live. They pay⁠ tax and it ends up buying expensive homes in London. A guy just trying to⁤ make an honest living and supporting his family has his money stolen. That is why⁣ some try to evade paying tax. What is wrong with that?

 

[Marie Manila]

Georgia will join CRS soon.

As far as I know, Northern Cyprus does not allow outgoing‍ SWIFT transfers for foreigners.

 

[csp dubai]

open a non resident account in north cyprus is quite a challenge , you need‌ nowdays to have resident permit, in order to have that you need to own a‍ proprety

 

[Walter Rowe]

wouldn't touch that with a 10ft barge pole
Money goes‍ in - doesn't come back out

 

[csp dubai]

north cyprus bank are good , but do not try launder money palce is too‌ small

 

[csp dubai]

there is several trust companies , register in the free zone , they can open‌ trust accounts , i will not give anyname becuase i will be accused to promote‍ them, i just can say i use 2 of hem and evething is fine, in⁠ trnc rules of law exist and is quite strong is not a banana republic

 

[Forester]

To be exact, they‌ announced to start reporting in 2023 (AFAIK).

 

[JohnLocke]

No you won't as long as it isn't your service⁣ you can post.

 

[fortunespeculator]

Had sent an‌ email to you for collaboration,did you get it Piano

 

[csp dubai]

north cyprus is good statsh away your funds , and enjoy them but is not‌ good if you want to do some trade finance , the centarl bank not like‍ too much in out operation

 

[GCM]

which trust companies did⁠ yyou use, which banks and which company is your tax consultant?

I have an offshore⁤ in freeport as well and I'm disappointed with my tax consultant and have to change⁣ him asap.

 

[Mary P]

I would not recommend you to open a‍ bank account in non-CRS countries at all. If you look at this list, you can⁠ understand that these countries are not respectable from the point of view of the banking⁤ sphere. If you still want to save money on taxes, then choose a jurisdiction with⁣ a loyal tax burden (Cyprus, Hong Kong). Estonia is loyal to IT startups too.

 

[jafo]

So, did you go?
What's your experience with banking in Northern Cyprus?
Are you satisfied?
Do you feel that your⁠ money is secured?

 

[Forester]

Just to‌ add, I know about one specific subject at the TRNC bank market – Turkish Bank‍ Group. Native at TRNC (established 1901), having member banks at TRNC, Turkey and UK as⁠ well – and having as a member Allied Turkish Bank IBU Ltd <=> dedicated offshore⁤ bank. Seems interesting; but honestly – I'd be afraid of political instability (in the long-term⁣ perspective) of TRNC.

And just for the record, there is also a branch of Halkbank⁢ at TRNC. (Halkbank is at Northern Macedonia, too; and AFAIK they are open to non-residents.)︀

 

[jafo]

Thank you! This is extremely helpful!