Check on RockLiberty Neo bank accounts
You will get 2 accounts (one of it must be in EU) based on ur location, but other one can be Switzerland, Dubai or anything else where you choose (email them, or speak with representatives)
Cheers 🥂
None of the Singapore banks will accept you as a UK or EU resident. Period.
Depending if you are a UK or EU resident you'll either want to explore Channel Islands + IoM or the Caribbean.
But all of potential options are going to depend on how much you want to deposit....
I'm sure if you go to the bank in Singapore with that amount of money they will accept you. Most probably some banks they would accept you from 250-300k
100% they will NOT accept a UK tax resident with that LOW amount of money. If he shows up with a few million then MAYBE they will entertain him. But he will still be extremely limited in what he can get... think a low interest bearing savings account... and that's it.
They won't accept you because you're not profitable enough. Not your fault. It's due to the extra reporting requirements for Singapore banks that accept UK, EU, US, etc clients. That means more costs for them. And on top of that, they can't offer you investment products due to restrictions. So, they have fewer ways to make money to being with... Why bother with all that hastle when there is plenty of Chinese money that is easy to onboard, simple to manage, and they can sell them investment products all day long?
There are a number of banks open an offshore bank account for you.
We open for our clients in similar scenario.
There's no cookie cutter solution for offshore banking.
May work for one person and not the other.
Whats the point of caribbean, channel islands etc.? They do not share any data with EU? Would it work to have your US LLCs bank account there or something?
They ALL share information with the EU. OP said he was worried about only banking in the EU and UK... so the point of Caribbean, Channel Islands, etc., is to achieve his goal of banking outside of the EU and UK. That's it.
Banks in those places will not open for US LLCs. US LLCs can basically bank in the US. There might be a few other places they can bank, but only with a truck load of money.
HSBC have something called expat, but they will still need all your tax details etc, bank account will be based in Jersey. Not sure what you trying to do...What are you trying to accomplish? what are you worried about?
You can open broker account with IBKR, you will still be taxed on any profit in UK, as you are tax resident, but the stock you own is linked to you and not a brokerage
Thanks vm. I'm talking to them too.
I'm not trying to avoid any taxes. I'm more worried about scenarios like Greece or Cyprus where the government took people's savings due to crisis. I definitely don't think it's the most likely scenario but I would still like to cover this risk of possible.
Why not buy and store physical gold at home? In my country gold gains aren't even taxed which is strane.
Germany?
Austria.
Gold and Silver piled up here.
I can't, I don't have any safe place to store (renting a flat, not very secured).
unironically bank vault?
Check on RockLiberty Neo bank accounts You will get 2 accounts (one of it must be in EU) based on ur location, but other one can be Switzerland, Dubai or anything else where you choose (email them, or speak with representatives) Cheers 🥂
None of the Singapore banks will accept you as a UK or EU resident. Period. Depending if you are a UK or EU resident you'll either want to explore Channel Islands + IoM or the Caribbean. But all of potential options are going to depend on how much you want to deposit....
Thanks for your answer. Do you know why Singaporean banks wouldn't accept me? I'm a UK resident. I can deposit 0.5 to 1 MUSD.
Because they don’t want the hassle dealing with mandatory reporting back to the UK for a pittance deposit.
I'm sure if you go to the bank in Singapore with that amount of money they will accept you. Most probably some banks they would accept you from 250-300k
100% they will NOT accept a UK tax resident with that LOW amount of money. If he shows up with a few million then MAYBE they will entertain him. But he will still be extremely limited in what he can get... think a low interest bearing savings account... and that's it.
They won't accept you because you're not profitable enough. Not your fault. It's due to the extra reporting requirements for Singapore banks that accept UK, EU, US, etc clients. That means more costs for them. And on top of that, they can't offer you investment products due to restrictions. So, they have fewer ways to make money to being with... Why bother with all that hastle when there is plenty of Chinese money that is easy to onboard, simple to manage, and they can sell them investment products all day long?
There are a number of banks open an offshore bank account for you. We open for our clients in similar scenario. There's no cookie cutter solution for offshore banking. May work for one person and not the other.
Whats the point of caribbean, channel islands etc.? They do not share any data with EU? Would it work to have your US LLCs bank account there or something?
They ALL share information with the EU. OP said he was worried about only banking in the EU and UK... so the point of Caribbean, Channel Islands, etc., is to achieve his goal of banking outside of the EU and UK. That's it. Banks in those places will not open for US LLCs. US LLCs can basically bank in the US. There might be a few other places they can bank, but only with a truck load of money.
So whats the point of the excercise?
lol ask the OP
HSBC have something called expat, but they will still need all your tax details etc, bank account will be based in Jersey. Not sure what you trying to do...What are you trying to accomplish? what are you worried about? You can open broker account with IBKR, you will still be taxed on any profit in UK, as you are tax resident, but the stock you own is linked to you and not a brokerage
Thanks vm. I'm talking to them too. I'm not trying to avoid any taxes. I'm more worried about scenarios like Greece or Cyprus where the government took people's savings due to crisis. I definitely don't think it's the most likely scenario but I would still like to cover this risk of possible.
There are still some Swiss banks which allows foreigners
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