Easiest Country to Open an Offshore Bank Account
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- čas přidán 20. 10. 2018
- nomadcapitalist.com/2015/12/2...
Where is the easiest place to open an offshore bank account?
While there are a number of great emerging banking countries, Georgia is consistently a great place to start... even if you're a US citizen.
There are 18 banks in Georgia, with two being listed on the London Stock Exchange. You can generally bank in US dollars, euros, pounds, and Georgian lari, and you can benefit from higher interest rates.
Of course, merely opening an offshore bank account won't help you legally reduce your taxes, but it's a great start to diversifying yourself internationally.
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Andrew Henderson is the world's most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to "go where they're treated best".
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He has also spent years creating a behavior-based system that helps people get the results they want faster and with less resistance. Andrew believes that everyone can use offshore strategies to keep more of their own money, live a life of freedom, and grow their wealth faster.
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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.
Thanks Andrew. It is so nice to be informed before becoming rich.
lol
I love the new format, you deserve more subscribers
Your new Videos are very Professional made, especially with the intro
Thanks Andrew for throwing your viewers a bone. Much appreciated and I will be speaking with you in the near future.
@born free. Let's not get too greedy, I am happy to settle for a bone ever since countries everywhere started treating me like a dog for having had the misfortune to have "U.S. indicia" working against me.
Absolutely make sure that any country you choose to open a bank account, assuming you can, has the following legal requirement : All bank deposits , including that of foreigners, are insured by law with an external insurance fund, up to some amount, in case the bank goes insolvent / squander investors' money. The US & UK for example has such insurance - other countries may have as well.
Canada has this type of insurance too
Thanks Andrew for this video on Georgia and banking!
I am going in December for one week to see TBLISI and feel it out for my next adventure.
I may just open an account too while I’m there. Can’t wait for the food😋 Your expat and nomad knowledge is awesome 🙌Thank you!
Happy to be of service. Enjoy the khachapuri, khinkali, and kindzmarauli. 😋
Did you open the account in December?????
how did that go?
My first knee-jerk reaction was to hit the subscribe button when I saw "Lower Taxes" in your intro.
Very insightful. Many thanks for this video Andrew.
Thank you Dilshan!
100% I’m buying your book as soon as possible appreciate you bro
Amazing video, thank you for sharing !
Glad to have you, Maricka.
I rewatch a lot of his videos to stay motivated. Money is currently slow in coming. Thanks Andrew😊
Thank you for this very informative video, I can certainly see that it's well worth a visit to set up an account as one never knows when rules could change and make opening an account harder. Hong Kong is good example of that!
why do you want to open an a/c here?
Banking is getting easier and more competitive. There are now *banks in the app.*
If a country does not allow a bank account for non-residents, then this country is losing a lot of small scale investments from people who want to buy property or to do business a few times a year in that country.
*The issue is* that many banks are not ready for the type of customers who want to have small investments for personal business on the small scale, while living in another country.
Yup, i wish i could close my US bank account i used for paying bills i get charged $12 a month since i don't use the debit card and the balance isn't above $10K or something meanwhile i can download an app and have them send me a debit card with little to no fees. Easy payments and a can transfer money easily to friends and family. Why can a small company from silicon valley be so much easier then a multi billion dollar national bank. What crooks
@@RobinsM Lol $12 a month for a debit card? That's straightup highway robbery. At my place, my bank only charge a small annual fee at most for an online account with a debit card.
The app based accounts are really nothing more than pre-paid debit cards with very low limits, these are useful but not for real banking and most of them even prohibit business use. There are exceptions, N26 is an exception I think.
It's because the banks have to follow the local rules, not because they're not willing to
Please consider for the future if possible to give us your opinion about the Monaco banking system and the free of taxes lifestyle of the citizens of Monaco ! Thank you !
you will not become a citizen of monaco. It's very, very hard...
Remember France is watching you
Another awesome video.
Thanks Andrew --- Great Information...
Attention US citizens please do not forget to pay taxes on your “global” income. Big Brother is watching 😀
Hey Andrew, great, informative video. Since you alluded to Georgia "and others", could you please elaborate on which other countries' banking is similar to that of Georgia? Who else lies within the same band as Georgia? Thanks!
Liked and subscribed. Great informative video thanks mate👍
Welcome, Mohamed.
in Romania you can also find free accounts - you only pay once for opening the account, then you pay for the card; no maintenance payment, free online account access, VISA/Mastercard cards, some paperwork, but passport is all you need
Can you name a few good Romanian banks?
Do they have high interest rates like Georgia?
Are there foreign transaction fees?
Thank you - Andy!
That was an informative video
I had a very promising chat with a bank representative.
I will definitely travel to Georgia.
Thank you very much! You earned my sub!
Thank you, glad to have you here! Enjoy Georgia :)
Hi bro. Which bank u did have the chat. I also want
In also curious what banks there are the best
Thank you... I greatly enjoy your videos on second passports. Have you done anything on Swiss Bank accounts ??
How to open Offshore bank account from other county or via Online and can get all access like Net Banking etc? plz explain it
Does this work al the same for a businessaccount (for business outside of Georgia) ?
Although it was very easy to open an account with TBC and Bank of Georgia, for some reason it is quite difficult to establish e commerce solution (paying by credit cards) for my website to sell my products. You only have to call a special number and after you do, you may not hear from them, or they'll say that the payment can only be in georgian money and from georgian cards :( such a nonsense. Any tips on that?
Great video... thanks for sharing 👍.... do they let you open offshore business accounts easily too?
i worked there when i was 20, the poverty was shocking, looks like its come a long way. great people there
I realize Im kinda off topic but do anyone know a good website to watch new movies online?
@Sergio Westin I watch on FlixZone. You can find it by googling =)
@Alden Zachariah Yup, have been watching on flixzone for months myself :)
@Alden Zachariah Thank you, I signed up and it seems like they got a lot of movies there :D I appreciate it!
@Sergio Westin happy to help xD
Hello Guys,
It's a really nice informative video. Considering they are giving 9% fd rates ,I would like to know what is the catch? How stable is the banking sector in Georgia? How is the politcal scenario in Georgia?
You've upgraded your video style. Good job!
The one thing not touched upon is, in most countries like in the UK, or EU, your deposit is protected under an insurance scheme (up to a finite amount). Who is backing this bank? However if you have a small amount of money, why not open it. But once money is in a bank, it's not yours. However opening an account might be easier here.
Been trying to sell coffee beans from Kenya to Georgia.. Glad their banking system is this open... And hey if you need coffee holla
Can I get a flat white, thank you
What is your contact details
@@autotrade3863 - I work with Coffee too. I have access with the Brazilian producers.
@@cyranosyndrome Can I have your contact number and what's app
Espresso for me please! 😋
Will the banking card work in the USA etc.?
Can we not open a bank account without Georgian phone number
Hi Andrew! Thanks for the great videos. Can one open a business / merchant bank account at TBC as a foreigner that easily, as well? Thank you.
Hi Andrew. Question, as you would not let me apply via your website,
When you are talking about say $400m or $billions (a client) that are in need of offshore banks that can accept accept such amounts. Which countries would you the suggest?
I was just there last week.
Your book is fantastic
Very informative
Hi Andrew,
Great content!
Do you think that Georgia is a good place to open a business bank account? I've contacted tbs bank and they said that I need to register my company to the public hall prior to opening a business bank account. Would like to get your opinion on this
Thanks
Well the banks in GE might be very easy and fast go open but to deal with them on a regular basis especially if you don't speak Georgian is a huge hassle personally. Most of the bank statements are in Georgian which means you can't use those statements for any visa purposes unless until you get those statements translated or even for your personal understanding. 90% of the customer service does not speak English to help you out with anything rather hang up on your face if they hear you say " Hello" instead of " Gamerjoba". I open a LLC here and the first milestone was go make the bank understand that we are LLC and not LTD, as they kept issuing us documents with LTD instead of LLC and to change that on the paper took us a week (especially when I have a local Georgian partner in my company with me). It's great banking compared to third world countries and esp the main benefit is that it's non-CRS BUt I apparently heard the GE revenue department has link to our account who will deduct any tax automatically from the savings without prior notification or permission....but banking in EU is always the smoothest with my experience despite their fees.
Fantastic news.
I like your videos. I have two questions:
1) Do they allow to open individual bank account or only for offshore company?
2) Are they crypto friendly? (I mean sending transfers to/from crypto exchanges)
James Howitt g
Georgia is a very Crypto Friendly country. Georgia is one of the countries that are acting out more progressively than the self-announced developed countries. The ambition to become as Europe often starts a change that is freer than the European system.
Individual bank accounts are as welcome as company accounts.
Atuli Shanidze Do they accept a Singapore company in Georgia? Where did you heard that information they accept foreign companies? Are you from Georgia?
@@James_Sovereign Non-CRS countries participating in global transparency for tax purposes
Of the 154 countries which have signed on the Global Forum on Transparency and Exchange of Information for Tax Purposes,[16] the following countries have not signed on to the CRS:[17]
(Incomplete list as of June 2017) Armenia, Azerbaijan, Botswana, Burkina Faso, Cameroon, Chad, Côte d’Ivoire, Djibouti, Dominican Republic, Ecuador, Egypt, El Salvador, Gabon, Georgia, Guatemala, Guyana, Jamaica, Kenya, Kingdom of Lesotho, Liberia, Maldives, Mauritania, Moldova, Morocco, Niger, Nigeria, Papua New Guinea, Paraguay, Peru, Philippines, North Macedonia, Senegal, Tanzania, Thailand, Togo, Tunisia, Uganda, Ukraine, United States.[17]
Hello, a question, "You come with your foreign address" Does that mean proof of address like a bill or something official or just address? Also, It is pretty easy to get a sim in Tblisi but is it required or necessary to have a Georgian phone number? Thank you
I am in Tbilisi right now on a tourist visa. Opened an account with TBC. He's absolutely right no line up at the bank. All they asked for was my passport. I was in and out in 20min with a multi currency personal account. Private banker 200 GEL per year for the card with insurance. Picked up the card the next day. Different world from HS BS C bank!
@@maridevskey Hi, How easy is it ? can I open easily a business bank account for a foreign limited company ? or do they choose themselves to open or not?
Hey Andrew, Awesome video mate. Just wanted to ask how did you get your voice audio to be so clear whilst in a public place. Is it an editing job or what? Please help, thank you.
navigationfilms.com
@@nomadcapitalist Thanks
Get gut mic?
@@amirkyrn3260 i have tried but still to take out background noise is a mission
@@masi4579 use a directional mic, the less directional coverage the better for this application. Be as close as possible to your mouth while keeping it out of the frame. The Sennheiser MKH416 is a good professional choice.
I can see it easy Andrew, but what about those banks for USD accounts to FATCA. I can see Georgia is a member but they don't have a signed agreement. I am interested in having an account there and possibly investing, but I want my money safe. Also over a long period of time will my money be safe in that country in those banks? For example, if I want to move my money out of Georgia one day. I would appreciate it Andrew if you would give me your opinion on this matter.
What about in SEA, Andrew? Opening a bank in Manila isn't as easy as it used it be.
Does Georgia have an extradition treaty with the US and/or Canada?
Because I might be interested if they haven't.
Georgia has serious laws for criminals , don't even think about it .
🤣
@@surajbhatia69 - Answer the question and not your own beliefs
Russia
can i open an account while having a tourism visa?
tourist visa allows you to to do anything in Georgia
Hi.. What will better to select when it comes to the base currency?
The local currency of the county the bank is established at or USD for example
What if you are creating a company online and your clients are based in Latam and will be paying in usd, but founders (three of us) live in UK and Russia? Where would you setup the company and the banking so it doesn’t affect our taxes where we reside?
Great video
Thank you Ted!
@@nomadcapitalist once I am a billionaire, I will definitely get swiss bank 🏦🏧 accounts. You are very welcome 😊
Andrew Henderson reporting for Nomad Capitalist 😃😃😃 It's like you are a journalist reporting live....
Hello, we need to be physically present to open the account in Georgia?
Thankyou !!!! I'm in
Reasons of genuine economic substance are becoming more pressing on foreign entrepreneurs, who are now required to put down roots, and become tax resident! Temporary residency, registration of a Turkish or Mexican home address with the authorities, and opening a commerce operation; yet the benefit in Turkey and Mexico is a path to citizenship! Low costs, but high tax for a five year period to make your case for citizenship; these are the price of geographic diversity of risks! Keep up the great work! / / \ \ Since this recording, the restrictions have become more onerous and tight!
Do Georgian banks use the EU IBAN system for transactions? Thank you.
It's the same here in Australia
Approximately how much are the fees for insurance?
Is it possible to put cash over counter into the bank account? I wish to travel to Georgia with some cash notes and put it into an account.
Where could I open such a bank account online? And will I find it free? How much time does it take to open such a bank account?
Could one open a Georgia Bank account for a Private Express Trust (foreign from the U.S.) with out a SSN, EIN or TIN?
Is this bank legal I have half a million dollars I want to deposit. I hope to respond quickly
I used to have an account with BOG 3 years back but I needed to upgrade my new passport in Georgian Language and I had to remove all my money out of it.
I wonder if I can remotely update the data so I can continue using it
Thank you for the video!!!
Would it be possible to open an european bank account remotely ?
google estonia e-citizenship
Does TBC have a presence in other countries? Otherwise, what are the benefits of opening account there?
How can a person do this without having to go there in person ? How can it be done on line ?
. . .and So. . . ON !
Hey Andrew, how easy it is to open a corporate bank account in georgia? Do you think they open for offshore entities?
hi, did you find the answer?
I wish I could visit Georgia but I wont be able to. Is there a way around being there in person to open an account?
Nomad Capitalist: you know that a bank deposit is simply a debt that the bank owes to you? That a default on that debt can actually happen in a banking crisis? Do you also know that Georgia's external debt (denominated in foreign currency) to GDP ratio is at 114%? Unless you're talking about trivial amount of money, depositing funds into a Georgian bank is akin to buying junk bonds with low yield.
How accurate is this during this pandemic crisis?
Does Georgia participate in automatic Tax data exchange? If yes, then information about such accounts is transmitted directly to other countries where passport holder resides. What is the point in such account if you are being exposed through automatic data exchange? This so called "offshore" account is not longer "offshore" when it is completely compromised though these automatic data exchanges.
Hi Andrew. How much does it actually cost to open an account at TBC Bank, including the cost of the Master Card.
5-10 USD
So after watching your video and contacting the bank to inquire about opening an account, this was their official response: "opening an offshore account in our bank is not allowed". I guess what they were trying to say is that I can open a local account at their bank, but if I don't live in Georgia, this then it is technically an offshore account for me. Is that what you think they meant by their statement?
you need local phone number . If you have rental apt even if shared you can then get local bank account. so technically its not offshore account.
If you want you can get offshore account in indian bank and if you are not resident you pay no tax
on your overseas earnings you transfer to your account. you can earn 6 - 7% interest if you keep funds in Indian rupee and you can exchange it to USD/Euro when you want. they charge about 2% exchange fee.
Andrew did you mention you have to have a local Georgia cell or telephone number to open an account ?
Which language they use in TBC Bank, Bank’s website & App. Is it English or their own language?
Do they speak English there and is this video up to date, What are the chances of them going the CRS, what about Serbia? I need something close to Germany..thank you
Wow fantastic video . Real eye opener. I shall be making a trip to tiblisi in tbe next two months . What is the easiest way to contact you for your consulting work ?
Thank you :) The best place to start is here: nomads.lpages.co/apply/
Andrew, have been following your blog post / slack intermittently since ‘16. So I now have the requirement to setup an offshore fund but devastated to learn that you don’t provide consultations to Indians.
That’s at least a $1 trillion dollar market. Hope this changes soon.
Can you store money in gold or silver in Georgia?
First day in Tbilisi, went to a branch of TBC in a mall, where the staff spoke little english...and opened my savings milti-currency bank account under 10 mins....with merely my passport, local phone number, no local address....walked out with a debit card and no money in my new account. Best part in 1 hour I can deposit merely 1 GEL to keep the account active....n in 2 hours my online setup will b ready. WTH!! This is a first in my 50 years of travelling. Thanks much.
Did you need to get a local phone number before opening the account in the bank? Or they will provide you one?
@@martinhuang1750 local number.
@m they sure do! Got it right at the airport on landing.
Activate it and have them set the language to English.
E-Block countries on the RISE!
How far are you from Atlanta?!!
Hi Andrew, is there a bank that is easy and simple to set up an offshore account where is process is online?
What do you think about Bulgarian banking system
What advice would you give now given Russian aggression into Ukraine? In? Do you still advise Georgia is safe for banking or visiting in general? Thank you.
Opening a personal bank acct. in HK means showing local employ., resid. proof. In the wake of the CCP crackdown I saw firsthand the coercion of local banks. Many banks have acted complicitly w. the city's officials, the same ones sanctioned by the US.
when you move the money to the bank, what does the bank take............1%?
How good is their bank for online, since many banks are getting too digital and relly too much on the phone system in the case you need an actual Georgia phone SIM card to authenticate your bank app, it might be an issue, specially if you loose it and such.
What is the opinion here on online banks such as N26? I've got offshore bank accounts in real physical banks, but some of these new online alternatives seem to be very competitive. They offer smooth and paperless account creation, MasterCard and VISA with free worldwide ATM withdrawals, travel insurance, investment options etc. Just wondering what you guys think of such an alternative, as opposed to physical banks. Are there any disadvantages that I'm not seeing?
I guess the risk of bankruptcy is higher as these online banks are usually very fresh/new. You can use it as a current account (day to day purchases, traveling, etc) but not really to store Wealth. Do not store your Wealth in anything with less than 10-20 years of history.
I asked about opening term deposit with the app. Was told unable to do that. Only people from Georgia are able to. Attempted to open a money goal account. Got a message as saying they would mail me the agreement.
Was told it is impossible to open CDs with internet mobile banking
When i withdraw money from under the bed there's no paper trail....and my bed doesnt go bump anymore....Transferwise?
I would like to open overseas Bank Accounts permitting automatic deposits of $50 per Examination so kindly suggest a suitable plan
Is there a cap on how much money you can move in 1 time or per time length on online banking in Georgië
Is Georgian legal entity suitable for Amazon FBA sellers? have anyone tried?
You said bring your passport and address, do you need a non-USA mailing address? I only have a USA passport as well.
I live in the Caribbean, and I have an ecommerce business in my country and i want to add PayPal as one of my payment methods on my website. But, they require a US bank account which I don't have. Where can go to open a hassle free bank account with a visa or debit card.
Hi dear sir,,,
Can I open the bank AC from Bangladesh?? Please inform me
Do they send you bank card to your home adress or do you need to stay in Georgia to pick it up ?
They don't mail anything. You need to spend a day or two to get it.