How to Open an Offshore Bank Account as a US Citizen

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When Andrew started Nomad Capitalist, one of my primary goals was to counter some of the bad information out there on the internet about topics like opening offshore bank accounts and getting residency in other countries.

See, after Andrew decided to leave the United States for good, He spent a lot of time researching these topics, and I quickly learned that most of what’s on the internet is garbage.
Some of these websites were out of date or didn’t quite know what they were talking about, but others went as far as advertising offshore banking and second passport scams.

So, once Andrew had done many of these things himself, He decided that he wanted to share his knowledge and dispel some of this misleading information.

Now, one of the most common rumors that we hear is that opening an offshore bank account is near-impossible for US citizens.

In this video, Andrew gives you four tips to show that information is inaccurate.

00:00 Start
00:20 How to Open Foreign Bank Account
02:16 Residence Permit and Second Citizenship
04:14 Living in Dubai
04:39 Portugal Golden Visa
05:53 Banking in Georgia
06:55 Can US Citizens Open Offshore Bank Accounts?
09:10 Banking for High Net Worth Individuals

Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".

Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.

Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[ugojazzy]

No doubts, A good way of growing and saving your money is through investing . You don't need to have much before you can invest. "That little money you have now can make you millions if you invest it wisely". I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made.

[LisaCulton]

It's very difficult, there's no getting around that fact. If you are an American in Switzerland, just go straight to PostFinance, so you don't waste time at other banks. Even with a residency permit and employment, the others WILL NOT open an account for you.

[HowWeLife]

This whole “it’s really tough for US citizens” is not true.

Just need to be a bit more creative and resourceful.

Many countries you can apply for temporary residency, then easily get a bank account open.

[ShaniSpirit]

I recommend Paysera, a Lithuanian bank account.

[limitless]

You’re living in Colombia yet you never mentioned if it’s easy or not opening an account there.

[uncatila]

I have an Irish passport. Can I just go to an Irish bank?

[Nonpeon]

I opened a bank account in Italy in 2007 and still have it.

[easyfoodchannelsa]

Please can you help do you know of a bank in US with this name WESTLAKE COUNTRY BANK?😢 I have a huge problem and the bank doent reply to my problem at all. My friend works offshore so he had problems to log into his account from his country then I loged into his account from my country and after ordered his stock the account was blocked and I couldn't pay for shipment. Then the bank wanted us to pay a huge amount of money in my country bank to unblock my friends account. But we don't have the money to pay and now we fear his going to lose his job due to the company money that's in his account for a job that must be done. What can I do please any advise?

[matthewdietzen]

Ah, offshore banking... ...it's like in Papillon, when the prisoners try to escape, there is a whole ecosystem of predators looking to take their money and send them back to prison.

[rahuliyer]

I am a US citizen by birth. I live in Arizona. I used to maintain an account at a bank in Mumbai in India. As I am an OCI for India, it is relatively easy. I had no issues. Yes, I had a few fees. They did not hassle me. I kept the account for family reasons.

BTW an OCI for India is 'not a citizenship', though the long form has the word 'citizen' in it. It is a visa akin to what a 'Green Card' would be for the USA. I basically can do many things in India as an OCI, except hold political office, own agricultural land, or deal with anything defense related. I can do virtually anything else...even work in India. Of course I pay tax accordingly in India. Dual citizenship, India and and other country, is illegal under India law. You have to show that you cut ties to other countries before getting a true India citizenship.

My wife has similar for Vietnam, but the difference is that Vietnam has dual citizenship.

[bootstrapstylerich]

What about Italy? I could qualify for dual citizenship through citizenship by descent.

[xo]

Can we do a canadian version of this?
Please!

[joso]

Well you just set up a Shell Company and get a Business Bank Account.

[johnM-Jr]

List of non fatca banks? Heard Goergia was going next year.

[berry]

what about Canadian citizens open accounts in Panama

[RachelAMullins]

Banks love to send Andrew public hate mail.

[PAIP_Studio]

Well either that or you use trading platforms, crypto and stable coins... There are wallet service providers and trading platforms that offer Credit Card options...
You don't need banks anymore...

[Rittlesleo]

We have permanent residency in Mexico where we tried to open a bank account. What a rigmarole! We finally gave up. We have found that everything government related goes smoother if you pay a consultant. Maybe next time we're there...

[markomalley]

The pro tip for Thailand is that for many banks (specific experience with the "dark blue" and "light blue" banks...if you are here, those designations should make sense) will open accounts with tourist visas or visa exempt stamps as long as you can show a bona fide long term lease. Even for a garbage $100/mo hole.

[hotrodjones]

Living in Switzerland is honestly infeasible for most US citizens anyhow. I don't see a point in opening a foreign account if you don't live there. I've been rocking a Russian bank account since 2015. I've used it for daily living since I'm in this part of the world. Something interesting people have been doing to move money in and out of Russia is moving it through crypto currency. Luckily I haven't needed to do this.