Say someone is a Serbian resident and a Chinese citizen. He wants to open an overseas multi-currency (including pounds) bank account remotely to receive payments from overseas companies (no Serbian and Chinese clients) for his freelancing work. Proof of address is not a problem but he has no TIN from Serbia and can't provide Chinese TIN.
He has lived in Serbia for almost a year and has been claiming umemployed and living on savings. He owns an apartment in Serbia in his own name. He recently opened a Serbian LLC as the sole owner and director but not employee in this company. The sole purpose of the company is to own agricultural land so there are no business activities. The company owns a piece of land.
He was a teacher in a public school but hasn't worked in China for many years. He haven't had much finiancial activities for years in China but still have a few bank accounts there with a small amount of deposits. He is divorced and has no famlily ties-only mother and sister-in China. He has no properties, cars or any assets in China.
Swissquote, Dukascopy and cimbanque all require TIN so they don't work for me. Do Armenian banks such as Inecobank, Converse Bank and Araratbank allow remote opening? If you have dealt with them, please do share your experiences.
Serbia is not a CRS country. Would the bank still ask for TIN and tax return when opening the account or later on?
Would receiving payments from companies be a problem? Would the bank ask questions or ask for documents?
The work is legit but under the radar so no tax paid and no tax return documents. Since Serbia is a non-CRS country, would the bank still report the account to Serbia or even China?
For now, the account will only be used to receive payment in pounds from one UK company, most likely only a few thousand pounds a year. Is there a risk of Serbia and/or China finding out he's working as a freelancer?
Or is it necessary to open an account in non-CRS countries? Can anyone recommend a reliable bank in non-CRS states that allows remote opening? Or some multi-currency account with EMIs, trading or forex brokerage companies that do not participate in CRS?
He has lived in Serbia for almost a year and has been claiming umemployed and living on savings. He owns an apartment in Serbia in his own name. He recently opened a Serbian LLC as the sole owner and director but not employee in this company. The sole purpose of the company is to own agricultural land so there are no business activities. The company owns a piece of land.
He was a teacher in a public school but hasn't worked in China for many years. He haven't had much finiancial activities for years in China but still have a few bank accounts there with a small amount of deposits. He is divorced and has no famlily ties-only mother and sister-in China. He has no properties, cars or any assets in China.
Swissquote, Dukascopy and cimbanque all require TIN so they don't work for me. Do Armenian banks such as Inecobank, Converse Bank and Araratbank allow remote opening? If you have dealt with them, please do share your experiences.
Serbia is not a CRS country. Would the bank still ask for TIN and tax return when opening the account or later on?
Would receiving payments from companies be a problem? Would the bank ask questions or ask for documents?
The work is legit but under the radar so no tax paid and no tax return documents. Since Serbia is a non-CRS country, would the bank still report the account to Serbia or even China?
For now, the account will only be used to receive payment in pounds from one UK company, most likely only a few thousand pounds a year. Is there a risk of Serbia and/or China finding out he's working as a freelancer?
Or is it necessary to open an account in non-CRS countries? Can anyone recommend a reliable bank in non-CRS states that allows remote opening? Or some multi-currency account with EMIs, trading or forex brokerage companies that do not participate in CRS?
