Reliable banks in non-CRS countries that allow remote opening for foreign citizens

CALL US ON +971 50 4467827 - TO SETUP YOUR NON-CRS COMPANY STRUCTURE IN DUBAI.
Bank Accounts, Company Formations, Tax Planning, Residency Solutions, and more

fortunespeculator

Entrepreneur
yes, but i had to go in person
Could you run me through the paper work and documents requested.Was it for personal or business.And will they open for a business as well.

You suggest that if one earns little amount of money - one has to pay taxes.
Whereas if one earns a lot of money - one shouldn't pay taxes.

Interesting logic :)
Yes because a lot of options open up when you are making more money.Economies of scale not withstanding.If one makes more money he has options for going offshore as well as work with btc,zero tax jurisdictions,accountants who can claim tax benefits with clever accounting tricks.
 

Forester

Silver Member
And will they open for a business as well.
ProCredit is a German bank group, having two branches: ProCredit hausbank for SME's and ProCredit DIRECT for private clients. It is valid for their Macedonian operations, too. Fro more info, see https://www.pcb.mk, ProCredit Bank Direct.
But I doubt that they open accounts for non-resident companies, it seems to me being aginst their policy of being “a hausbank”.
Furthemore, and maybe more importantly, as their worldwide activities are relatively tightly connected, perhaps I would be a little bit afraid about some information sharing with the German mother, even from non-AEOI/CRS country. But maybe it is just a paranoia? :)
 
Last edited:

ikan

Active Member
@ Forester
No paranoia. Reality.
I will never ever open an account in Macedonia, Serbia, elsewhere with banks belongings to any europeen bank group ( no matter German Italian Austria) => they use same softwares. And just to easy to report CRS without any notice, even if the Country did not comply to CRS.
 

Forester

Silver Member
@ Forester
No paranoia. Reality.
I will never ever open an account in Macedonia, Serbia, elsewhere with banks belongings to any europeen bank group ( no matter German Italian Austria) => they use same softwares. And just to easy to report CRS without any notice, even if the Country did not comply to CRS.
Well, it's, IMO, really an important issue. Thanks for your opinion. Any other input is welcome...
 

Sols

Staff member
Mentor Group Gold
I will never ever open an account in Macedonia, Serbia, elsewhere with banks belongings to any europeen bank group ( no matter German Italian Austria) => they use same softwares. And just to easy to report CRS without any notice, even if the Country did not comply to CRS.
Doing so would be illegal: a violation of banking secrecy laws. It's also not technically possible because the data is segregated. Erste Bank in Montenegro cannot access any information about clients of Erste Bank in Austria or vice versa.

It's impossible to rule out 100% but it would require a malicious actor on the inside taking a huge risk. If that's your risk scenario, then no financial service provider is safe.

Banking secrecy for the purpose of hiding from governments is basically gone. Banking secrecy and data protection against snooping by private companies (even intra-group) still exist.
 

Forester

Silver Member
Doing so would be illegal: a violation of banking secrecy laws. It's also not technically possible because the data is segregated. Erste Bank in Montenegro cannot access any information about clients of Erste Bank in Austria or vice versa.

It's impossible to rule out 100% but it would require a malicious actor on the inside taking a huge risk. If that's your risk scenario, then no financial service provider is safe.
All the above is pretty understandable; and I basically agree without hesitation. The background of my little uncertainity was a specific situation that follows:
Yes, Erste Bank in Montenegro cannot access client data of Erste Bank in Austria, similarly e.g. with Deutsche Bank Polska and Deutsche Bank Germany. They are independent legal entities, having separate infrastructure, etc.; they only have the same owner/belong to the same group. But, for example, at Polish market there also operates (or at least operated) Bank of China (Luxembourg): it has a branch there (it has small market share, serving some chinese companies and some individuals, but it is not important now). It is just a branch, appropriately registered. Frankly, I doubt that this small branch has sufficient infrastructure to be able to perform all the functions independently of the company headquarters; I guess that some data really have to be shared (and I do not see it as being criminal). (BTW, this branch even – AFAIK – do not participate at Polish Bank Guarantee Fund, the deposits of clients are covered by Fonds de garantie des dépôts Luxembourg.) And the situation of ProCredit DIRECT Macedonia seemed to me a little bit similar, my impression of their webpage (I had known before about ProCredit in Germany but for Macedonia I was checking the web) was that the ProCredit was the group with very tight connections, seeing local entities more of less like branches... So, if the data sharing is (probably) possible in one case, why not in another?
But really, it is possible that I am completely wrong; I was never in such a situation that I was afraid about similar data leakage, so I have no experience. (On the contrary, a few times I encountered the situation that the local entity of a big bank in country A helped me – or someone known to me – to manage something with the local entity of this bank in country B, so I was happy with some de facto data sharing ;) )

Banking secrecy for the purpose of hiding from governments is basically gone.
Yes, unfortunately.
Banking secrecy and data protection against snooping by private companies (even intra-group) still exist.
Another question is, to what extent this protection is bullet-proof (or perhaps corruption-proof, especially in some countries); but it is a different problem – and as you said, “If that's your risk scenario, then no financial service provider is safe.” :(
 

lostguy

BANNED MEMBER
To try to find a bank today in any part of the world that is not going to report you now or later is a fairy tail, it does not exist in 2022 and forward!
 
Top