What do you think will happen after your bank (in CRS country) reports to your fake residence country? What is the reaction of tax man is supposed to be? Is he going to wonder why he received CRS report on this person who is not supposed to be tax resident there according to tax man's own data?
It's something like this
There are so many of these plans and they seem so unnecessary complicated that i never bothered to explore in-depth
There is one upside to these insurace things though. Basically...
Oh, and i forgot to mention they started pushing their life insurance deposit thing right away (thing where they freeze your money for minimum 3 years but you ge tlike 5% usd annual return, many older Chinese customers looove it)
Here is very recent experience one of my clients had you may find interesting
Customer - citizen and resident of CIS (former USSR) country. Not russian.
Documents provided: passport, ID, bank statement from home country bank as address proof. Bank statement printed from internet.
It's always a...
If i were you, i would close this account and open a new one (preferably in different bank) acting as UAE resident from the start.
Depending on account balance, i would avoid transferring money between old and new account and withdraw balance in cash, then deposit on the new account
That's actually less than average time. And you'll never know what obscure money institution your money will come from (if they do come after all). Better yet, more often than not after few weeks they can tell you your withdrawal can not be processed. Seriously, this drives me mad, given how big...
Never dealt with TW before. I know that to open business account i will need to provide business address confirmation at some point. Here is the thing. There is paper Seychelles IBC without any bank accounts or business history. The only address it has is registered address on Seychelles...
I think it was confirmed few times here, i and i can say personally as well that Bank of China is the easiest at the moment (especially if you are EU resident), they don't even require address proof (they do require it for investment account though). Here is email from them
1. Customer are...