Private Bank Recommendations

[SCHLOSSFINANZ]

correct MAS instructed all banks to only accept Vanuatu citizens on a case-by-case basis

 

[Forester]

Singapore billion dollar money laundering case - Wikipedia

en.wikipedia.org

After this big ML case, some citizenship will no longer open personal ( Wealth Management / Private Bank) accounts. in Singapore
For example: Vanuatu, Some Caribbean.......

Thanks! Well, I admit I do not follow such events very much...
(Vanuatu is not directly mentioned in the sources; but I understand, I am afraid )

 

[Clank]

You can try also Capital security bank in the Cook Islands.

 

[Watchingtheweasels]

Singapore billion dollar money laundering case - Wikipedia

en.wikipedia.org

After this big ML case, some citizenship will no longer open personal ( Wealth Management / Private Bank) accounts. in Singapore
For example: Vanuatu, Some Caribbean.......

Well, that's unfortunate. By all i's dotted, and t's crossed I mean nothing suspicious about the funds, the necessary nationality and renunciation documents in hand, and no legal issues with either the police or taxing authorities.

I guess NZ or Europe it would have to be then. As far as CSB in the Cook Islands, my understanding of it is it is perhaps a second or third tier jurisdiction for someone with a company there who is having trouble opening elsewhere? Not sure how I feel about Hong Kong either; I was there once many years ago when it was under British rule but moving assets to a Chinese jurisdiction while so many Chinese seem to want to get assets out of said jurisidction seems a bit counterintuitive.

 

[brianK]

You can try also Capital security bank in the Cook Islands.

What makes them worth it, do you know their fees to get an account opened?

 

[Clank]

What makes them worth it, do you know their fees to get an account opened?

They accept almost all structures and jurisdictions.

They have a brokerage with access to almost all stock markets, private equity. They charge 250$ to open an account.

 

[brianK]

They accept almost all structures and jurisdictions.

They have a brokerage with access to almost all stock markets, private equity. They charge 250$ to open an account.

Thanks, that's nice, it could work well for me.

 

[lory]

What makes them worth it, do you know their fees to get an account opened?

years ago they advertised here but they suddenly stopped.

 

[SCHLOSSFINANZ]

I would never ever bank in the Cook Islands lol.
CSB is getting the same fate as EPB sooner or later, as they heavily depend on correspondent banking relationship
both for payments as well as for financial instruments custody.

 

[Clank]

I would never ever bank in the Cook Islands lol.
CSB is getting the same fate as EPB sooner or later, as they heavily depend on correspondent banking relationship
both for payments as well as for financial instruments custody.

You can’t compare both banks. Nothing to do.

 

[OKboomer]

You can try also Capital security bank in the Cook Islands.

Did you have good experience with them? Would you put a serious amount into their bank?

 

[SCHLOSSFINANZ]

Capital Security Bank had at some time Bendura Bank Liechtenstein as custodian, a dodgy bank owned by a chinese guy. Makes you wonder.
What custodian are they now using?

 

[Clank]

Capital Security Bank had at some time Bendura Bank Liechtenstein as custodian, a dodgy bank owned by a chinese guy. Makes you wonder.
What custodian are they now using?

They use OCBC, EFG Bank and Vontobel.

 

[Clank]

Did you have good experience with them? Would you put a serious amount into their bank?

Very good experience. They are very transparent, full disclosure of their board and you can get their audited financial statements by KPMG from their website.

 

[linusAG]

Bendura Bank Liechtenstein as custodian, a dodgy bank owned by a chinese guy.

Actually, Bendura Bank works very well. They have a strong Correspondent Bank relationship and their parent company is listed in HKEX.
So, nothing too shady......

 

[SCHLOSSFINANZ]

ok then maybe a little bit shady...

 

[brianK]

Very good experience. They are very transparent, full disclosure of their board and you can get their audited financial statements by KPMG from their website.

they have no insurance for their accounts ?