Best Offshore Banking Countries

[@anonymous6594]

1. Singapore 2. Switzerland 3. USA 4. South Korea 5. UAE 6. Jersey, Liechtenstein, Luxembourg, Andorra

[@dexterspeights3484]

USA needs to learn why rich people love banking in SINGAPORE!

[@KangTheDigitalNomad]

🤫🤫🤫🤫🤫🤫

[@302Rmack]

We understand why the rich do it….but with a $200k min. That keeps lower income out….😢

[@usaslastresort1126]

@@302Rmackthat’s good. It’s truly the rich vs everyone else. I feel like if you are smart you shouldn’t pay for that.

[@tinyblackmage]

Absolutely 👍🏻 so efficient

[@petcon29]

Great video Michael, thank you! What do you think about using Wise accounts, which are based in different countries?

[@jayvincent8860]

Michael must consider Panama for banking!! Many high networth have banking there. I have great experience with my bank there.

[@OffshoreCitizen]

It's just not a very top tier jurisdiction comparatively speaking with lots of downsides. One of the better places in latam but latam tends to have generally poor banking and isn't too by latam standards. The broad Panamanian system is also much weaker.

[@SeanOHanlon]

​@@OffshoreCitizen What would make the situation better for banking in Panama?

[@Carolinapetroska]

The Panamanian banks ask too many stupid requirements such as 1 reference from a lawyer and 1 from an accountant. How noisy is that ? Plus the balance of each account. That's none of their business. It should be the other way around. You are giving them your money in good faith and they don't trust you

[@balimthembu2475]

Great video. As usual I always learn something new. Can you PLEASE 🙏🏾 do a video on: "Why one should never bank with ALL four South African banks!!!" I believe it will help a lot of people who are considering moving to South African permanently or by investment. And also it's help the people in South Africa by waking them up and them to see how the rest of the world see South African financial/economic system.🙏🏾🙂

[@justingriffin2546]

So nice of you Michael to answer so many questions in the comments.

[@OffshoreCitizen]

Thanks

[@Fhfjdod8ebrmsow9e]

What about a bank like Banco Safra in Brazil? They have a long history of stability during durmoil and have a presence in Switzerland and US

[@OffshoreCitizen]

Safra is a decent bank we work with them in Switzerland. Not our favorite Swiss bank but generally quite decent.

[@Bohemiahotrodandcustom]

If a foreigner had a bank account in the US do they pay tax in the US?

[@AC-wk9gh]

Always appreciate your content and delivery. I’m curious to know why you didn’t mention Hong Kong. I’ve found it to be a reasonable jurisdiction over the years.

[@OffshoreCitizen]

Concerns over China these days in how they've treated HK makes it I'd say a tier 2 jurisdiction Also it's unclear what domestic banks you'd use to get non correlated exposure given most of the banks you'd use are branches of international banks

[@harisadu8998]

@@OffshoreCitizen Don't think this is a fair characterisation. Commercial aspects in HK are totally left alone. Banking there is perfectly fine. But geopolitical risk does exist. The risk is mainly what would happen if China does something to Taiwan.

[@joebloggs339]

This was the perfect topic for a video! It has been weighing on my mind. I imagine, ideally, one would want the option of getting a self-directed brokerage account attached to the bank account so that one can get some kind of return above just savings account interest while avoiding wealth management fees. I don't know how prevalent that kind of thing is in a place like Switzerland. Unless you think the wealth management fees are worth it. Great video.

[@OffshoreCitizen]

Sadly often wealth management fees are part of the price of doing business but yes I keep most of my money in brokerage accounts

[@sorin7255]

@@OffshoreCitizen Thank you for having posted this very interesting video. Would you be interested in doing a video on the pros and cons of having a self-managed Interactive Brokers account and the possible implications depending on your country of tax residency?

[@emileriksen2481]

@@OffshoreCitizen What is the basic idea in offshore banking, and what type of money would you need for it to be relevant?

[@OffshoreCitizen]

Emil we covered this in the video

[@emileriksen2481]

@@OffshoreCitizen My bad =)

[@scott1572]

Any thoughts on thai bank options

[@wildanimals-qs6ho]

What about Capital Security Bank in the Cook Islands?

[@OffshoreCitizen]

It's a pretty low quality bank and quite expensive. Not terribly risky but not a great bank

[@wildanimals-qs6ho]

@@OffshoreCitizen thank you

[@alanabley525]

I have an account in Jersey but I'm finding it's a problem as far as estate planning. They do not accept foreign trusts and I can't put my wife as a beneficiary. It's also a problem with a will as you have to go through the local probate and need a local lawyer. Can you recommend anywhere where I can just submit a beneficiary? Thanks for you really useful channel.

[@hanshint5677]

Thanks a lot for this Important Information!

[@marjorykephart4700]

Hard to get

[@marjorykephart4700]

Monaco? Hong Mong?

[@VERTICALWisdom]

Excellent content well done. Wonder if we can do a KTT transfer into Andorra?

[@OffshoreCitizen]

Good question, need to ask the bankers there

[@StaceyMaGroov]

Please what are your thoughts on : 1- Canada 2- South Africa 3- Namibia 4- Malta

[@markpelshak604]

Great Video content. What are your thoughts on Hong Kong?

[@OffshoreCitizen]

Thanks! Could be a decent option. Not the easiest to open with, tho. In-person visit required and they can be very picky with whom they open for

[@conqueror-w3]

as an American what about Canada, Bermuda or Cayman?

[@micomarinas2753]

I'm from the Philippines. so which banks in USA that will accept depositors from the Philippines?

[@OffshoreCitizen]

You need to get a US address and then tons of them will

[@KangTheDigitalNomad]

@Mico Marinas you should email me

[@ivalinapasse2469]

Thank you 😅

[@john-s9m3f]

If your assets are in ETFs, is the bank even relevant? Isn't only the stock broker relevant?

[@artemdruzhinin1575]

What about Hong Kong?

[@OffshoreCitizen]

Usually you're using international banks there so don't tend to get optimal diversification and we're a bit concerned about the relationship with China so it's ok but I'd say tier 2

[@gregfed]

Are Japanese banks good as well? I feel that they would be on par with Korea. Business bank account vs an individual account?

[@OffshoreCitizen]

There are some good Japanese banks part of the question is whether you can actually successfully open an account as a non resident

[@crater721]

Are there any solid crypto on/offramp banks left?

[@OffshoreCitizen]

Yes a bunch depends a bit on business or personal though as well as how you're off ramping but usually I'd look at Switzerland, Singapore or the US

[@666mengel]

One thing to keep in mind about off-shore banking for those who hold that nice US passport - FATCA law. It requires all off- shore banks to submit the names of American Citizens holding accounts to the IRS. And, you would never know about it, until you get Audit Notice from your friendly IRS office.

[@OffshoreCitizen]

This isn't restricted to the US under AEOI this happens over most of the world

[@omar8102]

what countries would you recommend for a business or trust accounts that wouldn't have the same limitations as a personal bank account? Fx: Nominees/law firm can open them

[@OffshoreCitizen]

Need private banks in most cases for that & they'll still KYC UBOs

[@austinwheeler6234]

Great video. Love the set and the lighting.

[@OffshoreCitizen]

Thank you! Where do you prefer to bank?

[@pablolobo6560]

Any thoughts on banking in Isle of Man?

[@Lex_01]

Great video! What's the best exchange to get exposed to Asia market?

[@OffshoreCitizen]

What kind of exposure are you looking for?

[@Lex_01]

@Offshore Citizen Vietnam, Singapore, and the Philippines.

[@OffshoreCitizen]

Equities? Bonds? Crypto?

[@Lex_01]

@@OffshoreCitizen Stocks

[@metaldata3429]

How do you feel about Japan as a banking jurisdiction? The large banks seem to be extremely well capitalized with large balance sheets. Opening accounts as a resident took a while. Got approved for Rakuten way before any of the other banks like SMBC, MUFG, Japan Post etc. I'm not sure how bureaucratic they are compared to other places. The yen has been beaten down but a lot of the banks have multi currency deposits with GBP, USD and EUR being options. What are the sorts of criteria you use to determine whether a banking jurisdiction is good or not?

[@OffshoreCitizen]

Japan is pretty good, not as good as Korea or Singapore but pretty good The issue is how easy it is to open as a non resident

[@athensfinest290]

Great video Michael. I have a topic that might interest me and other people for one of your next videos. If you don’t have time to invest your savings yourself, how do you find a reliable active manager for them? What would you look out for when searching for an institution to invest your money with and what type of institution would you prefer? Thanks

[@OffshoreCitizen]

Great suggestion. I'll see what we can create. I did a video maybe summer 2021 where I discussed this a little with a very unconventional suggestion. I'll create something else though.

[@OfficialBradChristian]

Every financial manager I’ve ever had has lost me a lot of money. And they’ve always got a great excuse ready.

[@riskmathmoney6015]

Michael what about banks like Revolut and Wise? Are they safe at all? Can you tell me more? How much money would you keep in them?

[@OffshoreCitizen]

I've done a video on them in the past you can look it up. They don't actually hold your money so you don't evaluate them you evaluate the sponsoring institutions

[@merrykrichtsamt]

Great video, I agree on everything apart from what you said about Switzerland. You should read more on what is really going on in Switzerland. Many people have lost any sort of trust towards Switzerland and are moving their wealth and savings to Singapore. Switzerland is simply not anymore a safe haven. This is the hard reality. It used to be graet in the past, but not anymore.

[@OffshoreCitizen]

Relatively speaking I'd say Switzerland is still one of the top, hard to come up with even 4 options better

[@Johndoe-qn9jr]

Also offcourse if you like to ralk more about Switzerland most things seems good about this country exceppt speed cameras and that its expensive, also i dont know how the handle the things you suppose to rakw in your arms a year ago or so if they was trying to force åeople or not.

[@francois3475]

Very surprising to hear you say that Cayman Islands is a "low-quality banking jurisdiction". This runs contrary to everything I've heard and read about this jurisdiction. Can you please explain what you mean? Otherwise information video.

[@OffshoreCitizen]

Cayman tends to suffer from two key issues 1. Island culture, which in terms of banking tends to result in sub standard service & real world privacy 2. It has virtually no local economy so has zero ability to protect you through the broader financial system, there's a reason you don't see Cayman banks on the list of the safest banks

[@gainz6180]

Can a person have a residency in UAE to open banks in singapore and uae with and have another residency in EU to open eu banks with? They wouldnt mind we have the other residency? What should we say if they ask about other residencies we may have too?

[@OffshoreCitizen]

Yes you can

[@gainz6180]

@@OffshoreCitizen and what to say when they ask where do you pay taxes? I show uae residency to Singapore banks but show them i pay taxes in an EU country. Thats ok for them? What about for the eu banks, show them residency in eu but when they ask where i pay taxes i say UAE, they dont care? Its ok?

[@OffshoreCitizen]

They don't ask where you pay your taxes. They ask for your place of tax residency. The thing is what you tell them has no legal bearing. What's important is you can show a residence permit and residential address in that place. They are just checking boxes

[@jaime8974]

Do all these countries pay good interest on savings accounts?

[@BlackLabelExpat]

Also, where does Panama fall on the list?

[@OffshoreCitizen]

Quite far down, much lower quality of banking than these and much tougher to deal with, not even top in latam

[@don_kandon6006]

You can get swiss account starting from 250k if you know people. Also about 25% of swiss banks do take Americans. Its all about knowing people, same way like you need ridiculous requirements in usa to get amex black card (centurion)... usually takes few years, invitation, have to spend 500k a year on their lower tier card for few years, etc, etc... yet via swiss banks you can get it in one week if you open bank account worth 1 mil. I would say stick to swiss, singapore and uae. Their currency also appreciates against usd and euro. Well uae dirham pegged to usd, but yeah, anyways, you get the gist- take into consideration the inflation. Lastly, forgot to mention scandinavian countries, very stable, i would argue norway is the safest in the world, due to politics, and having 1.3 trillion fund, only few countries in the world that technically has no debt. p.s. In general, by far #1 is swiss, due to the strong franc, safety, privacy, history etc.

[@SeanOHanlon]

My single biggest issue with Swiss banks is that they don't have numbered accounts anymore. BTW: You don't believe that either Itaú or Santander in Brazil is stable/secure enough to open an account?

[@gainz6180]

Mostly all the main canadian banks told me on phone they would open the account if i go there physically to a branch even if im not a resident and just go there as a tourist… in the video uou said they dont open to non residents/foreigners, which one is it?

[@OffshoreCitizen]

Not my experience but maybe something has recently changed. You can try and let us know. It's also worth noting that for international Canadian banks are kind of crap because they don't offer online wire transfers so you need to go in person much of the time, which is hugely inconvenient. This is all different at the private banking level btw

[@Carolinapetroska]

False. They won't!

[@Carolinapetroska]

​@@OffshoreCitizenTrue and TD doesn't want you to wire money overseas in big amounts. They want you to keep the money in Canada only. I had this bad experience with them.

[@jozsefhomoky530]

Thank you Michael for covering this imporramt topic. Which Canadian bank would you recommend I use until I'm ready to move offshore?

[@OffshoreCitizen]

They tend to be pretty similar, depends what you're needing it for but Scotia seems to have some benefits such as the Passport Visa Infinite for foreign transactions

[@djackman9746]

Trying to buy a bank in Finland. Need assistance with a capital raise

[@StopLossLOL]

Do you have any experience with Gibraltar? Would very much appreciate a Video about it. Keep up the good work!

[@OffshoreCitizen]

Have 2 videos on it coming up

[@trenthansen68]

Thoughts on Mauritius?

[@OffshoreCitizen]

Mediocre banking at best

[@bbrebozo6417]

Non correlated to the US seems difficult since they “tend to push rules on other jurisdictions, that they don’t follow themselves”. Which of your top options are really diversified from the US?

[@OffshoreCitizen]

Depends on which correlating factors you're looking at?

[@bornufree]

Excellent point. Most of the jurisdictions mentioned in the video are unimaginative. Like you say they are answerable to the US More risk but I prefer Malaysia & Thailand

[@joshuabinegar4877]

Excellent… This is going into my if I ever win the lottery file. I have always considered Singapore, UAE, Switzerland, and Jersey as banking possibilities. I never thought of South Korea, or in my wildest thoughts, the United States. Being that I am American. Which I probably wouldn’t continue to be if I win the lottery… Jackpot that is, 100 million after taxes. xoxo

[@OffshoreCitizen]

Haha where would you relocate in case of a lottery win? :D

[@joshuabinegar4877]

@@OffshoreCitizen most likely be a citizen of Malta 🇲🇹 Grenada 🇬🇩 and maybe Turkey 🇹🇷. Live in Ireland 🇮🇪? so spend what ever amount of time there for tax residency, then 2-3 months: January February in Australia, Spring in Malta, September October in US/Canada, and November December in Thailand. OR where ever you recommend

[@Anonymoose66G]

@@joshuabinegar4877 @joshuabinegar4877 You'd have to renounce your US citizenship to avoid taxation and then you'd have to obtain a citizenship that allows you easy access into The USA. Furthermore Malta & Turkey wouldn't be my bet, I could not stand being in Malta for a couple months out of the year, you hear constant loud construction and car noises and it's unkept and pollutive. Ireland & Grenada are decent. Overall I'm sure there's probably a better alternative arrangement.

[@Zarine-q2v]

​@@joshuabinegar4877😂😂😂😂

[@johnM-Jr]

Im watching whats happening with the revaluation of the dinar. Its a hot topic in Iraq.

[@OffshoreCitizen]

How do you see it playing out?

[@pures1n]

Hey Michael, would you talk about the new Platinum visa by Portugal? I know it's not in law yet but still a very new interesting visa concept. EU citizenship in 2 years & no language test O_O

[@rad0f]

They shut down golden visa, what's Platinum visa about? Never heard about it.

[@OffshoreCitizen]

We'll see if something comes out

[@DR-ed5uw]

Do you still feel the same about banks in the u.s.? I was surprised you rated it #3. I'm not weathy enough for Singapore or Switzerland.

[@OffshoreCitizen]

Yes US Banks are quite solid in spite of recency bias related to current affairs. Note in everything that's happened not a single depositor has lost money

[@AidanScott]

OCBC NISP (Indonesia) let's you open an account as long as you maintain 25million IDR AUM without needing a residence permit/KITAS.

[@OffshoreCitizen]

Yeah it's quite easy though not of the quality of Singapore

[@gainz6180]

Can you invest into indonesian stock market with it?

[@AidanScott]

@@OffshoreCitizen yea it's a nice back-pocket bank while starting out

[@ML-un1gr]

The minimum deposits he quotes for Singapore is NOT true. I have 2 business accounts there and the minimum is only $30K USD. But do not try nd set the account up yourself. You need to be introduced by an agent and then things flow much smoother.

[@arjunghose2868]

Can you let me know which banks you are referring to?

[@Johndoe-qn9jr]

I think you mention Costa rica in one of your video as a good country to building up money can you do a comparison between maybe Dubai and Costa rica ?

[@OffshoreCitizen]

Sure good suggestion

[@losttravelingbackpacker3757]

What do you think about putting US dollars in one of the Philippine owned banks as a place for safe haven to keep your dollars

[@OffshoreCitizen]

For smaller amounts it's ok, I wouldn't keep large amounts there

[@losttravelingbackpacker3757]

@@OffshoreCitizen can i ask your reason why please thanks

[@OffshoreCitizen]

It's not a highly resilient system, much more at risk of taking a blow than many other places

[@rongawthorp787]

Do you plan to cover El Salvador as a potential tax haven given the new proposals? I'm interested in the safety and financial details and I know others are also. Thanks! Love your content.

[@OffshoreCitizen]

Haven't planned on it yet but in the future probably

[@voyagetravel1840]

What countries are best for self employed people with 1099s?

[@OffshoreCitizen]

There's no one size fits all Depends how much money, where you're living, purpose of the account, etc etc etc Best to reach out if you'd like advice specific to you

[@20kevron]

Interesting

[@OffshoreCitizen]

Any countries you'd add to the list?

[@elsbells8545]

Monaco is not on the list…?

[@OffshoreCitizen]

No their banks aren't at the same level. Not terrible but not at the same level at all.

[@elsbells8545]

So I most be Careful of Monaco banks

[@OffshoreCitizen]

I mean it's fine, most banks the chances of losing money are fairly low but here we're discussing the top options

[@krustyaxelrod]

Hi Michael. So let's say someone ho has 25-100M cash how many banks does he needs? 50? I don't understand how this plan works for ultrawealthy people. In reality it's not practice to have more than 5 banks in my opinion

[@OffshoreCitizen]

I have more than that many and I don't have 100m Bank accounts are typically very cheap insurance But I wouldn't recommend almost anyone hold that much in cash you'd generally hold a lot of it in brokerage accounts and assets

[@robinelliot5003]

I was patently waiting for Michael to add South African banks, but he briefly mentioned Standard bank and that was it. I guess our institutions have lost their shine and appeal to foreign investors.😢

[@AndreS-n8k]

Why didnt you cover panama banks?

[@OffshoreCitizen]

Because they are much worse than these

[@dexterspeights3484]

Uruguay is THE SWITZERLAND of SOUTH AMERICA!

[@OffshoreCitizen]

They would like you to believe that. In reality they are much lower quality and not even the top in latam as far as quality goes but if you want to add them as tier 2 banks to your portfolio that's fine. Unfortunately none of the banks in latam are top tier

[@jonathangat4765]

@@OffshoreCitizen As someone who lives in Uruguay, I agree. There really aren't many options here and I keep just enough money to live on.

[@Angela-g1q4q]

I heard

[@Patrick_Hsu]

Still not Switzerland itself right?

[@FighterFred]

Interesting, yes the dollar will continue since the US has the largest military in the world. Considering risk, what's the best option to secure wealth outside the banking system? Farm land, gold, art?

[@OffshoreCitizen]

Depends on your goals and the risks you're protecting against. I've created some videos on gold in the past. I'm a huge fan of productive assets over pretty much anything else so that can include farmland but it's not very liquid. I'd say for diversification a person should have some small allocation of precious metals and also crypto (at this stage mostly btc and eth) some diversified cashflowing real estate holdings, right now some bonds or similar debt instruments, stocks. Most of net worth should focus on productive assets though

[@FighterFred]

@@OffshoreCitizen The risk is that the whole banking system collapses in the West.

[@OffshoreCitizen]

We're not at that stage yet There's lots of people who have been calling for these things for decades and it doesn't happen. You'd think people would stop listening to them but apparently not because it's always just around the corner. I think it's really important to have accurate mental models about how things work otherwise you make suboptimal decisions. In this case its the investing expression "being too early is the same as being wrong". A bit of banking diversification and you'll be fine at this stage. In the future that could change but we're not there yet. We need to reach the point where there's insufficient productivity to bail out the losses & an escape hatch for people to choose instead. Neither of those exist yet. I'd guess it's a minimum 10 years until we get there it takes quite a while for an alternative to gain sufficient momentum.

[@FighterFred]

@@OffshoreCitizen Could be, but check out what Musk said to Tucker. The banks have negative equity in commercial real estate, and could have soon in the housing market.The FED printed too much money, leading to inflation and higher interest rates. Last time that happened was in 1929.

[@Mexicotravelltd.]

bianance is the best global bank till today

[@anon2119]

Why are Swiss banks not wanting US citizens as clients? Because of how successive US governments have threatened/pressured Switzerland since well before Credit Suisse and co. amongst other issues.

[@anon2119]

It is a nightmare for our banks when their own government goes after their citizens abroad.

[@MarkJohnson-zf7jj]

Not all that simple or easy to get PR in SEA etc

[@nonameanon9368]

For Europe why did you pick Andorra banking over Norway and Amsterdam? Is it because Andorra doesn't have an airport lol And for Asia why South Korea over Japan, Macau or Taiwan. For Uk pound why Jersey over Guernsey? And in a side note what do you think about Gibraltar or New Zealand as jurisdictions...

[@OffshoreCitizen]

The first most important question is "can you open accounts as a non resident?" For most the answer is no so they are automatically excluded. After that it's a question of the quality of the institutions available focusing here mostly on bank safety followed by available services. Generally South Korean banks are safer vs Japan & Macau. Taiwan doesn't have as much system level strength protecting it. Gibraltar & New Zealand are both ok. New Zealand typically tougher as a non resident.

[@nonameanon9368]

Also heard some Austria Banks are better than most countries but difficult to get an account if your american

[@OffshoreCitizen]

Yeah quality doesn't matter if you can't get an account

[@nonameanon9368]

5 Other questions 1) Besides treasuries (TIPS) what's better and Safer than Deposit Insurance! Any country have better than FDIC, unlimited liability; or 100 percent guarantee in a particular account? 2) What do you think of Building Societies! 3) Besides precious metals, farmland / real properties, art, wine, digital assets, intellectual property-inventions, crypto related products, Oil/Gas, exotic transportation vehicles, currencies, Ivory from elephants and championship belts-rings, olympic neck ware and plaques; what are some assets people rarely talk about but in high demand and short supply? 4) If you had to rank these 5 countries banking ( Israel, Canada, Italy, France and Germany how would you rate them? 5) What are alternatives to banks besides credit unions, Emi-Finech, Private offshore storage vaults, Crypto, Escrows, cooperatives, muni bonds / Mutuals, ETF, Indexes and Soveriegn Wealth?

[@nonameanon9368]

Sovereign wealth funds of brokerages.... Sorry clicked the before I finished writing...can't edit so instead I added

[@thetimmns]

This is a result of stupidity and greed from people that should have never been in position to make this mess.

[@OffshoreCitizen]

?

[@HexAlchemist5555]

Coincidentally, I've been doing a preliminary search of Singaporean banks, but not having much luck opening an account there as a non-resident, since I reside in the UAE, even though you did mention it is a friendlier jurisdiction, and thus would be easier to open a Singaporean account. Perhaps one has to be physically present in Singapore to open an account there? Also, what do you think of banking in Dominica? They're English speaking, have strong financial confidentiality laws, relatively easy to open as a non-resident, and their currency is pegged to the USD.

[@OffshoreCitizen]

You definitely have to be physically present & not transactional banking but higher tier banking Absolutely not to Dominica banking, very poor quality

[@HKFunster]

Hong Kong?

[@OffshoreCitizen]

Not bad by any stretch but usually you're not using local banks and I'd say it's tier 2

[@andrescv2665]

those countries look great, but, what about deposit insurance??? Everybody talks about Singapore but the goverment said many times that deposit in foreign currency are NOT insured. Sounds like herd mentality

[@OffshoreCitizen]

As I've said many times if you have to worry about deposit insurance you're off to a bad start Look at SVB 97% of deposits not insured but they all got back stopped Deposit insurance is never high enough for large amounts of money

[@BlackLabelExpat]

South Korean banks might be a good idea, but as it turns out, South Korea Sable coin. not so much.

[@OffshoreCitizen]

😂😂😂

[@jamesplatter2132]

Seychells

[@anonymous6594]

Why South Korea over Japan?

[@OffshoreCitizen]

Their banks are simply stronger. Also we find it easier to open in Korea as a non resident.

[@Bambotb]

Why would people park big money under their name instead of corporations ? I think all rich people hold money under corporations

[@fxgreek5490]

How is CBDC going to affect all this Global Diersification?

[@OffshoreCitizen]

There will be many CBDCs

[@4AM-4AM]

Excellent content. Regarding Latin American top/safest jurisdictions for banking: 1- Chile, 2- Uruguay, 3- Panama, in this order? And any other decent options in Latin America? Thank you.

[@stevejones9662]

@OffshoreCitizen would like to hear your thoughts about this

[@pinakidas397]

Very surprisingly all my US credit and debit cards work in Belarus and Russia, however UK and EU ones don't. Stay away from EU and UK based banks - if you are living in Russia or Belarus even temporarily.

[@hamid1106]

Banks will give your information to OECD, and they will report it to your local tax authorities

[@OffshoreCitizen]

Well no they turn over the information to the local government, which shares the details with your country of residency in most cases. The treaty for this was created by the OECD but the OECD doesn't actually process the information.

[@musamupfekeri]

Mauritius is okay and easy but bad customer service

[@andrerenaud8785]

When it comes to Canadian Banks ,they are quite safe , But I kinda think that the Trucking Freeze seems like a rare incident, compared to their Solvency? Any thoughts?

[@user-ix3zx8gu3t]

you're so rich and therefore beautiful

[@libertarianspirit]

I'm surprised to hear that Andorra still accepts russian citizens. Thai banks open accounts for russian citizens if you have Thai elite visa (need to provide address in Thailand). I think there is less risk of your account being shutdown in Asia than in places like Andorra.

[@OffshoreCitizen]

Hard to say which are more likely to close you probably also depends on your activities

[@nikkalorak]

weird country?? wtf this patronising commentary??? mate you are claiming to be some kind of an expert, watch what you say.

[@amostofi1999]

you think "truckers" blocking streets was legal?

[@OffshoreCitizen]

Huge supporter of the truckers, not at all a supporter of Trudeau or how he handled it

[@qetoinfinity2086]

​@@OffshoreCitizen blocking the streets was a very mild reaction to Trudeau's communism. In the country where I was born, when the people rose up the Trudeau of that time was put against a wall & bang bang, a fitting end for a communist tyrant.

[@patrick1992]

You are just a follower go sleep again. I will never visit this Faschist country called Canada. Just saw the police locked up a guys who told there are only two genders because of your dumb laws 😂

[@thomasucc]

wrong, just pay your taxes, it's easier

[@OffshoreCitizen]

Offshore banking generally has nothing to do with tax. But generally it's best to minimize your tax as much as legally possible

[@ouailbaas48]

You dont have whatsapp or telegram?