Places to AVOID for Offshore Banking

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There are certainly many places that offer offshore banking, some of them are very well known.
Some of them are marketed very aggressively and even promoted by lawyers and consultants.

However, be extremely careful. Not everything that shines is gold, and there are certainly some places where you SHOULD NEVER bank, no matter who recommends it.

Here is our list of places where you should never open an offshore bank account. At least not if you want your money to be safe and available to you.

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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.

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Author: Michael Rosmer

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[farzad_tahamtani]

Man I’m from Iran and I’m in the process of researching where to form an offshore company and videos like these help so much for better decision making. Thank you for all the good content you are sharing 🙏🏻🙏🏻

[nizarfakhoury]

Hi. How would you compare offshore banking in the Channel Islands vs. Switzerland vs. Singapore, and which banks would you recommend?

[stevemyers]

as soon as we are making money I will give you a call Michael and you can help us back out of what mistakes we have set up already - due to no choice.

[VERTICALWisdom]

Business opening balance $5M and above. Not a lot of transactions less than 10 keeping a large balance consistently. Private banking options.

[macboracay]

Just to be clear...are we talking significant business accounts or any level of personal household banking?

[onetry]

I appreciate your opinions about the different banks but it would be more useful to me if you'd support your thoughts on a bank instead of just telling us to forget about it for each one

[nonameanon]

What about Uruguay or Mexico (Vs Panama)

What about these European countries- Luxembourg, Austria, Holland, Croatia, Poland, Hungary, Romania, Ireland, Andorra, and Czechia.

Also what about "special regions" like d'D'italia Campione, Sark, Marshall Islands, or Macau..

[teenoso]

Agree on Caribbean. Its poor for most things stemming from a bad attitude/service. Do you have a video on specific countries on banking is generally ok?

[anonymousdonor]

I’d really like to hear explanation re: St Kitts and Nevis. Is it reliability, corruption, stability, lack of service, other reasons? I was considering it as a small component of my plan.

[thecontainerthecontents]

im a bvi corporation, so where is a GOOD option to open a bank account in USD.

[lvbadboy]

So basically everywhere is “trash” LOL

[NomadicDmitry]

What about Albania banking? How does it stand comparing to Macedonia and Serbia? I guess probably the similar thing?

I've personally opened the account in Hungrary since it's in EU. Not sure how stable it is, but seems like not a bad place to bank.

[bertimusz]

You should just list it, it makes it more interesting

[mikaelmagnusson]

Which of the none AEOI-CRS Countries is fine for smaller amount on about 200K?
Serbia, Phillippines, North Macedonia, Guatemala, Dominican republic, Paraguay, El Salvador, Vietnam, Cambodia ?
(Georgia and Armenia and Thailand will join the CRS)

[ipro]

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[fritzmetzger]

Great content, I've subscribed. Question, why not bank in Serbia?

[Mgtowfreedom]

I have to ask, what about a crypto debit card that is linked with a bank account in laos ??? Have you heard about this

[billmane]

Actually can we set up a offshore non-resident company but create a bank account onshore to facilitate the payment ?

[amir]

Great content.
I have heard maximum amount of credit you pull out of your Estonian digital nomadic company is 30, 000 EUR per day. is this true? I mean pull out of the country.

[johannes]

Hi Michael i just discovered your channel and this is a good informative video. What are your thoughts on banking in Costa Rica? Heard lots of good thinks about banking there, they accept international companies from just about everywhere and also easy to set up? I am thinking to open a Trust.