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Sols

Staff member
Mentor Group Gold
I wouldn't recommend anything in a highly sanctioned, fragile country but I've seen foreigners bank with Priorbank (Raiffeisen) and Belarusbank.

Account opening is supposedly easy if done in person.
 

Piano

Entrepreneur
I wouldn't recommend anything in a highly sanctioned, fragile country but I've seen foreigners bank with Priorbank (Raiffeisen) and Belarusbank.

Account opening is supposedly easy if done in person.
Ok, also corporate accounts for offshore jurisdictions ?
 

Sols

Staff member
Mentor Group Gold
That is doable, but I don't know how easy it is. Have never been involved in the account opening.
 

JackAlabama

Entrepreneur
Belarus has been promoted surely more than once by nomad capitalist. Claimed it being cryptofriendly, cheap, relatively low tax and with a good dating scene ;) if I recall correctly. A big plus of it being in Europe which makes trips home easy and cheap.
 

Vor

Active Member
Not necessary dirty. Belarus is not a part of CRS. So, for some people this could be interesting country
true but as we know tax evasion itself is in fact a crime lol though i get the premise. What is the point though in putting money into dumpsters like Belarus, North Cyprus, etc where instead of paying tax if your in a really bad country lets say 50% though many arent that bad off more like 25%-30%.. you are keeping 50%-75% of your money compared to losing 100% of your money in some shithole country potentially. Never understood why anyone is willing to take that risk.
 

maxmmm

Entrepreneur
Belarus has been promoted surely more than once by nomad capitalist. Claimed it being cryptofriendly, cheap, relatively low tax and with a good dating scene ;) if I recall correctly. A big plus of it being in Europe which makes trips home easy and cheap.
Anything this bullshit artist says should be taken with a giant bucket of salt. I would stay the fuck away from dictatorships and putting your money anywhere near them. Just check out what happened in Moldova few years ago where a few billion $ just disappeared from the banking system and they still haven't found them. Moldova is also non- CRS and some provider claim to help people open accounts there, also for non-resident companies...

true but as we know tax evasion itself is in fact a crime lol though i get the premise. What is the point though in putting money into dumpsters like Belarus, North Cyprus, etc where instead of paying tax if your in a really bad country lets say 50% though many arent that bad off more like 25%-30%.. you are keeping 50%-75% of your money compared to losing 100% of your money in some shithole country potentially. Never understood why anyone is willing to take that risk.
100% agree, especially strange is when people deposit money in some of these shithole countries because they offer high % on deposit... well no shit, you are paying for the risk of putting your money there and you stand to lose 100% of the money vs making a few extra % a year. Do you really want to put your money in Mongolia?

The real question though is what is worse - banking in Belarus or banking in Euro Pacific Bank? smi(&%
 

Vor

Active Member
Anything this bullshit artist says should be taken with a giant bucket of salt. I would stay the fuck away from dictatorships and putting your money anywhere near them. Just check out what happened in Moldova few years ago where a few billion $ just disappeared from the banking system and they still haven't found them. Moldova is also non- CRS and some provider claim to help people open accounts there, also for non-resident companies...


100% agree, especially strange is when people deposit money in some of these shithole countries because they offer high % on deposit... well no shit, you are paying for the risk of putting your money there and you stand to lose 100% of the money vs making a few extra % a year. Do you really want to put your money in Mongolia?

The real question though is what is worse - banking in Belarus or banking in Euro Pacific Bank? smi(&%
Probably EPB lol I'd imagine banking in Belarus it's easy to get your funds in and move them around.. out thats another story. o_O
 

i888

New member
Moldova is going to UE, so the days of non CRS are counted, the politicians are changing from the president, who is pro UE, to the next parliament who will be like the majority of the people, pro UE.

Banking sector is relatively ok, they a in a way that they have the money to run smoothly. There's at least one from Romania which is top, BCR and other which is bought by BT, also from Romania, however can't remember the names.

But the issue is that Republic of Moldova, don't confused with Moldova region from Romania, is small in every aspect, unless the wine.
 

Vor

Active Member
You must be crazy if you consider banking in Belarus. Lukashenko might wake up grumpy and whipe out accounts of all foreigners in a minute, you will never see your money again.
correct indeed lol some of the countries people are interested in banking in are amazing to me.. Belize is one thats bad enough Belarus would be just a total nightmare.
 

bizniz

Active Member
Belarus used to be good but I wouldn't recommend it at all now. It is very likely there will be more sanctions in the pipeline, and if Belarus is completely cut off from EU and US banks, then you won't be able to move money in or out. And not directly through any fault of Belarus.
 

Sols

Staff member
Mentor Group Gold
Belarus used to be good but I wouldn't recommend it at all now. It is very likely there will be more sanctions in the pipeline, and if Belarus is completely cut off from EU and US banks, then you won't be able to move money in or out. And not directly through any fault of Belarus.
A saving grace here might be that Belarus has for long been very crypto friendly, probably as a way to prepare for the risk of total isolation. Banks don't bat an eye at large transactions to/from crypto exchanges. If (when?) EU and US pulls the plug completely on Belarus, it might still be possible to get your money out through crypto. Cashing out the crypto might be a challenge, but at least you can move the money out of the country.
 

fredouille1973

New member
Speaking about MD, many banks request local residency, others don't answer..

to go a little bit more east.. Republic of Transnitria... all is in russian, 3 banks there.. impossible to get any contact.. if somebody has some feedback..
 

uplana

Corporate Services
Mentor Group Gold
How would you rate banks in Belarus, something we could work with? How if you receive money from a bank in Belarus to a high street bank will they start asking questions or even close the account?
 

Praetorian

New member
If you must bank in eastern europe try Estonia, sure they are EU linked and will comply with CRS faster than anyone else but keep in mind the country still runs on russian mob money. There's no shortage of private banks there that will do magic tricks for you if you're wealthy enough. At least you will have stability and less risks of your money going straight into thai hookers and cocaine.

People use Belarus for the following reasons:

1) They live very close by and can basically drive there to settle their business, so they feel safe enough to move their money there. Usually those people have ties there too, like a business or real estate at the very least.

2) They do so to invest in local businesses or open offices for cheap labor for example, a lot of german entrepreneurs do this for their tech startups.

3) Literal mob money, usually mob related inflow is minimal as even gangsters tend to measure their risks nowadays. So what ever money they put there is money they don't mind losing anyways, they got other hubs where deposits come in as well (Estonia, Latvia, Lithuania, Hong Kong etc).

I never saw anyone use Belarus for crypto-related reasons, if anything, that's an even easier way to trigger red flags and attract unnecessary attention. In many countries, if you show up to your bank and they see a wire from Belarus + you tell them the origin is from investments (Not even crypto), they'll definitely be more inclined to ask for more details. It's not a smart way to move money as it will create more problems in the long run, especially if you tried to evade reporting in the first place lol.

If you do go for Belarus, make sure you do it in-person, don't trust anyone offering "remote account openings", and don't give them excuses to mess with your money.
 
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