The Offshore Banking Scam

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Want to find a bank where you can hide your cash?

There won’t be any of that here. That’s because tax avoidance is illegal wherever you go in the world.

What is legal, however, is banking overseas, sans all the drama of ‘stashing’ and ‘hiding’.

We're a strong advocate for offshore banking because it allows you to become a true diversified global citizen, which is even more important in today’s world when the banking world is a madhouse.

In this video, Andrew shares the offshore banking scam.

00:00 Start
0:17 Financial Advice
1:51 Privacy in Banks
4:27 Offshore Banking
7:20 Misconceptions About Offshore Banks

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.

[radiosteve]

Big warning about Hamilton Reserve Bank on St. Kitts & Nevis. They make you send at least 50, 000 USD and then they change KYC rules so that your money gets locked. Only lawyers can help then.

[SolespireMarcus]

Andrew, do a video about credit unions in Canada.

[jeremyleonbarlow]

Owners of US entities now have FinCen disclosure forms they must file too.

[phatpanda]

Andrew where's your apparent in Istanbul update, you were doing renovations!

[craigzievis]

Does money transferred to a notary account overseas for a home purchase need to be reported (FBAR, FACTA etc.)?

[peiriye]

I know people who cash unemployment checks in CRS western Country A but have houses and bank accounts in CRS Country B for decades. I know at least 20 people that do this even though if CRS western country A would find out, it would lead to hundreds of thousand of dollars of fines. So CRS is not the be all end all. You need to dive into what actual info gets exchanged on a country by country basis.

[johnpowell]

So how then does the City of London get away with it? Love to see a video from you on this (no intention to learn to hide just very curious!) Thank you for the videos

[trtrhr]

i will stick to using Bitcoin and Monero and maybe Zcash.

[DSV]

Hi Andrew. Realisticly to what extent if any does U.S. Government has jurisdiction over bank accounts in Russia??? I mean to me Obamas law on foreign bank account and tax compliance is realy more out of la la land wishfull thinking. Anyhow wanna hear your opinion on Russian banks.

[talebm]

I just wanted my money in a full-reserve bank but it seems the governments of this world have different ideas.

[Zeni-th.]

Nomad, would I need a degree or any sort of academic documents for citizenships and the like?

[jameseire]

Not to parse, but Andrew is wrong. Numbered accounts are still available in Europe. I am not going to expose the privacy of any of these banks. Let me just say, you MUST appear in person with your funds. The purpose of the accounts is privacy not to avoid banking regulations. These accounts are similar to the ones the Swiss Post Office offered for a long period of time. These are boutique banks that I am quite sure if you are trying to use them for laundering funds in them, the bank will turn you in before you have a chance to explain. These institutions have to be "hunted" down, they don't advertise. Banking is in person, once you ask them to wire money anywhere, they will NOT protect your privacy. They will store your currency or precious metals. As far as I know there are less than 10 of these banks and they happen to exist in countries that start with the letter "L." Let me repeat, these are legitimate private banks--they don't cater to criminals or drug dealers. They offer services to individuals who want secure banking, i.e., if a war happens your funds are secure. People of Jewish origin will understand the importance of this level of security. These banks pride themselves on security--They will do a background check on You (no, not just KYC) something quite deep. They expect to do business with generations of your family, not just a 5, 10 or 25 year account. They don't want your money. You had better decide that a relationship with a bank is in your interest. Realize: they bank, they don't do insurance or investing, etc. With respect, please do not ask me for any information on any of these institutions. If you are interested, they are not completely invisible. Someone from your holdings must be on the ground in Europe. Protect your wealth.

[mikevandelaar]

This the reqson why there are privacy crypto projects like monero

[Race]

Dude, I love your content and I'm looking forward to learning more. Please understand that as a very experienced public speaker and a teacher of public speakers you don't need to use 10, 000 words when 1, 000 [or less] will work. I may be 100% wrong but [especially this video] you appear [often] to just start talking and you're hoping to get to the point at sometime.

[konigvonpreuen]

How many people watching this are worth less than $500, 000?