Worst Places to Bank Offshore (My Real Experiences)

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If you’re new to the world of offshore banking, you may be concerned about bank safety. After all, some may still believe that their money will simply vanish if they move it overseas.

In this video, Andrew, based on his own experience, shares the worst Places to Bank offshore.

00:00 Start
0:27 How to Determine a Bad Bank
3:01 Banking in the Caribbean
4:10 Banking in Tbilisi
4:48 Banking in Singapore
50:19 Residence in Estonia
6:02 Difficult Countries to Open a Bank Account

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.

[JasperDev]

Banks in Panama could be really cool or they could totally suck, it really depends on how are you making your money, they hate everything related to crypto, but in my case I receive almost all of my money through bank transfers and with their respective receipts, so I had a pretty good experience with them.

[benkim]

Many banks will close your account if there is no acitivities for a year or two!!
So it is not good to open too many unless you use them periodically at least once a year!!

[maximizemoney]

5:20 “I love the Estonian people” Trump
Impression had me dying

[debunkinghistory]

5:20 Like how Andrew dipped into Trump there for a second lmao

[BlockTechGold]

Andrew, it would be nice if you could show people a step-by-step way to unbank and be able to use their funds anywhere they would like.

[sgkenswil]

Banking in Colombia is terrible. Best place in Latin America/Caribbean is Panama, but still difficult. Best places for a Nomad Capitalist are Switzerland and Singapore.

[harisadu]

You can still bank in Hong Kong but the thing is that they don't want you to be American and they don't want you to deposit some small amount that causes them trouble. They want you to deposit at least over $125K to take you seriously. Otherwise, they want you to be a resident.

[alexmckenzie]

I am British and live in the UK and have money there and also in the US (in IRA). I recently got Irish citizenship (thanks Mum!) and am considering opening an account there, but have not yet investigated. Any further afield would be beyond my comfort zone. The CBDC stuff seems incredible and yet is discussed NOWHERE in the traditional media. Shame on them. World is getting very scary!

[tolik_]

This is the first of your streams sir, which addresses the core of the problem. Not the country is the guarantor of your wealth, but its banking system. I understand your American banking safety belief, but in Europe and else the bank accounts are regularly and arbitrarily blocked constantly. Please do the legwork for us - where our money are treated best? We cannot keep Money in physical art like billionaires do.

[michaelreid]

Andrew, I lived in Colombia up til 2008 and had about five accounts with various banks.

Stay away from the smaller poor banks. In addition, most of the banks will have an offshore entity or in the case of Scotia Bank, an extensive international network.

Initially open an account with a good bank like Scotia or BanColombia. Then open an account with the offshore branch of that bank. Transfer funds from your home country to BanColombia Caymans or Scotia Panama. You then wire it to Colombia with no problem!

[virginiataylor]

What about this one world movement of CBDC's. No one will be able to do business without an ESG Score. Where can one go to function, & operate a business without the mark?

[matthewsongloong]

Yup, Swiss bank accounts are rather hard to open for non-Swiss residents. Smaller Swiss banks also don't do business with US citizens indeed, thanks to FATCA...

[tonymccreath]

To get off Grey list Belize no longer have offshore companies, and not provide high privacy, not call themselves offshore now. So surprised you keep mentioning them. Always enjoy your videos for many years now.

[ajc-ffcm]

Don’t put all of your money in one place.

[ZackYounguk]

I can second your thoughts on the Estonian banks — I formed a corporation via the eResidency and discovered the bank (LHV) had many hidden fees — especially around currency, merchant banking, holding any form of debit card. It made the entire operation not worth it.

[kallaji]

Wise business has worked for me quite well. Good customer service too.

[ashok]

German banking for business is a disaster! Compared with UK banking where you get a visa debit card with a standard account but in Germany you won't. You can only apply for a credit card. However there are some online banks now who are offering debit/ credit card with standard accounts but limited facilities!

[dbongo]

I would interested in knowing which countries have Good banks and the Names of those banks?

[henrypersoon]

Banistmo Bank in Panama has bin very good to me. My only complaint is I get a lot of propaganda emails from them.

[alexmckenzie]

I'll also consider Jersey - I'll ask my son as he works there in financial services.