Why do Romanian banks ask for an address?

[accountantromania]

I am stating︃ that the banks in Romania rely solely on the information stated on the documents of︄ identification. If the information changes, they change their record, accordingly. Most countries issue new IDs︅ to their citizens in their embassies, otherwise you wouldn't be able to leave a foreign︆ country if you lost your ID on a vacation or business trip. To clarify the︇ procedures contact your embassy.

Obtaining a certificate of Residence in Romania might be an indicator︈ for the tax residence but it does not mean that you can just come to︉ Romania, obtain a certificate of residence (temporary permit) and immediately your tax residences changes. As︊ a consequence a first reporting might occur based on old information, that might indeed be︋ the case.

 

[Martin Everson]

That's interesting information about the system in Romania.

Also any address held on bank record‌ will be CRS reported to by the very nature of CRS indicia.

I suggested‍ what to do below.

 

[accountantromania]

Unfortunately, last time we attempted an application with WISE, they stated that the service was‌ not available for Romania. This might be subject to change over time,

 

[backpacker]

When was that?
Already for quite a while WISE issues even debit cards‍ for residents of Romania -> Can I get the Wise card in my country? |⁠ Wise Help Centre
Since the OP is foremost looking to open/maintain a private account, WISE⁤ should very well do the trick.

 

[Martin Everson]

Yeah they offer Romanian local account details even.

Anything is possible these days with compliance depts. So I have to ask⁣ also is that something new?

 

[accountantromania]

I am referring to business accounts and this happened just a mere six weeks ago,‌

 

[Martin Everson]

Ok I see.

 

[accountantromania]

Either a new applicant waits six months to be able to offer documented proof of‌ residence in Romania for six months, updating his/her documents or taking the "risk" of being‍ reported, which shouldn't be a problem at all, f supportive documentation can be provided to⁠ demonstrate factual tax residence in Romania.

If you think about it, it actually makes sense,⁤ because not everybody just showing up with a work and rental contract is automatically considered⁣ a tax resident. CRS is for most countries still a new bureaucratic beast and countries⁢ try rather to comply, than making mistakes along the way.

For "honest" tax residents it︀ shouldn't be a problem at all being reported, even on preventive reportings..

 

[backpacker]

This is certainly true.

However, picking up again my example in post #20‍ the question remains if such an individual will be refused by a bank in Romania.⁠
Let's forget CRS for a while and just concentrate on the address question: The potential⁤ client can not give an address in Portugal (passport country) because he did not live⁣ there for the past 20 years. He can only provide his address in Switzerland where⁢ he has permanent residency. His Portugese passport does not show any indication that he lives︀ in Switzerland. As proof of address the potential client is able to provide a Swiss︁ residence permit ID and Swiss tax number (AHV) ... (?)

 

[pixbix]

Due! Stop it!

Here is how to solve the problem , buy a house for‌ 1000-2000 , and you have an address!

https://www.olx.ro/d/imobiliare/cas...rrency=EUR&search[filter_float_price:to]=5000

 

[backpacker]

As indicated‍ by the OP (post #1) and in my sample-question (post #20) the Romanian address already⁠ exists. Read it again!

 

[Untangle]

Each country in Europe has different rules when it comes to opening bank accounts, in‌ Ireland you need a PPS number (Irish tax ID), in Belgium you need to be‍ registered with the commune so you have a local resident card and so on...welcome to⁠ Europe. Just adapt to whatever they want

 

[Marzio]

Is this valid for companies and individuals?

 

[Untangle]

Individuals

 

[thedirtyteller]

Is Denmark a part of these countries that will try this?

In my situation will that be an advantage?

I got help from a lawyer firm to receive this "certificate de inregistrare" Or temporary residence︎ permit. I also got a CNP code. But they still asked for a permanent address.️ Was it that you meant in your third paragraph? And will they report the permanent‌ address of my home country I gave them, back to my home country?

So according to this, I'm not a︄ tax resident here? You have to explain further.

 

[backpacker]

I do‌ not know what you want to achieve, hence it is difficult to talk about advantage‍ or disadvantage.
However, the RO bank will most likely report your account balance/turnover to the⁠ "wrong" country. "Wrong" in terms of CRS which gives clear guidance on how to handle⁤ your case correctly.

 

[Jerry1911]

Certainly not to Portugal!

 

[clemens]

Serious, you‍ mean you can buy a house for a few thousand euros in Romania ?

What a mess of a country. With not too much money you can live as an⁠ King there, build a castle for no money and live your life, just don't look⁤ out of the windows!

 

[pixbix]

For sure. You buy⁤ one in the forest, and the view will be amazing. You can also get a⁣ cheap one in Portugal, or anywhere. even in USA maybe, but in US i think⁢ it will in the desert... that's a mess... or in Detroit... but in Romania ,︀ you buy one in mountains and you are fine.
Just take care to not have︁ any wolf or bears around.

Is this that bad ?

https://www.storia.ro/ro/oferta/cas...estii-de-sus-judetul-olt-id-16674-IDf5ZZ.html

 

[thedirtyteller]

I would be wary of buying that even if it⁢ is "cheap". Romania has a lot of gypsies and you don't want to live in︀ a neighborhood with them. You will inhale the stench of burned tires 24/7 and keep︁ anything of value indoors. This includes even something as silly as car tires or some︂ iron. Secondly, Romania also has a problem with stray dogs; the farther away from the︃ city, the worse the problem gets.