so , bank account in Georgia for non resident is over ,whats next?

[timloveotc]

I read few post here that open a bank account in georgia for non resident is over ,so whats next ?

 

[proexper]

I also read that supposedly is only temporary, but for sure if comeback, will be need fulfill new additional requirements, so...
After corona, spread money over different countries looks safe to avoid any restriction, ban o worst.

So someone could recommend other alternatives?

 

[Outlander]

I read few post here that open a bank account in georgia for non resident is over ,so whats next ?

Where is the source for this information?

 

[kkein]

just get a local nominee for your company, and you are set?

 

[khinkali]

I wonder if @timloveotc is thinking about Georgian connections rather than ownership?

Georgia is not an offshore banking centre. Georgian banks like Georgian businesses. Where are the customers? Where are the goods or services supplied from? Where is the work done?

 

[proexper]

I think @timloveotc talk about personal bank account, not business and I guess is because in theory the is no info interchange, facta, OECD...

 

[onemansomewhere]

I read few post here that open a bank account in georgia for non resident is over ,so whats next ?

What next? Obtain a georgian residence permit..

Where is the source for this information?

This information is truth..

just get a local nominee for your company, and you are set?

Not working

 

[FinTech Avenger]

Not working

Off-topic: man, do you know how to use multiqoutes? You have 186 messages in less than a month...

 

[onemansomewhere]

Off-topic: man, do you know how to use multiqoutes? You have 186 messages in less than a month...

NO. I do not. I am sorry if it is not so easy to read..

 

[Tax Cow]

And many more places are closing down non-resident banking services. Partly because of the OECD commies, but primarily because all major currency deposits, now including the USD, do not earn profit after compliance costs. Even with the lower OPEX of emerging markets.

There has to be a "cookie" for the bank to make it interesting. In the future, non-resident banking will be limited to HNWI's and upper middle-class customers going for premium services, and not only in prestigeous jurisdictions.

But to answer your question, step down from emerging markets to frontier markets. One of the cleaner shirts among the dirty is Costa Rica; still works well for non-resident 5-figure USD deposits.

 

[JohnLocke]

One of the cleaner shirts among the dirty is Costa Rica; still works well for non-resident 5-figure USD deposits.

What bank is opening accounts remote there?

 

[onemansomewhere]

What bank is opening accounts remote there?

Banco General (Costa Rica) - opens accounts for citizens of Costa Rica only. It is not enough to be a resident only.

Scotiabank de Costa Rica - the same as Banco General

Banco Davivienda (Costa Rica) - They accept foreigners. But HNWI, only. Remote account openning possible just when you are ready to invest at least 570,000,000 CRC

Banco Improsa - They offer services for foreigners, also. I am just not sure about their stability. No experience wwith them.

Banco Bct - They offer services fo foreigners - but they require a residence permit or citizenship from any latin america country. Panamian residence permit is enough. Remote account openning not possible.

Banco BAC San Jose - They are bank for loans, credit cards, and other lending options. They also offer insurance.. They have a banking license, but I do not believe that they offer any services to foreigners

Banco Promerica – Costa Rica - They offer services to foreigners, but very strict Due dilligence, also after having account openned - for almost any transaction. Remote account openning is possible, but will cost you a huge bunch of money to provide all required documents with apostilles, translations, certifications, etc..

Citibank Costa Rica - Openned to foreigners. They welcome foreigners and have a reasonable conditions. If you are a Citibank customer in any other country, account openning process is much easier.. Remote account openning is not possible. Sometimes it is possible, but with a right introducer, only.

Banco de Costa Rica (BCR) - Does not serve foreigners

Banco Nacional de Costa Rica - Openned for foreigners. It is just a problem to find english speaking clerk in the most of branches... Remote account openning is not possible without a right introducer.

 

[robbystyle]

Banco General (Costa Rica) - opens accounts for citizens of Costa Rica only. It is not enough to be a resident only.

Scotiabank de Costa Rica - the same as Banco General

Banco Davivienda (Costa Rica) - They accept foreigners. But HNWI, only. Remote account openning possible just when you are ready to invest at least 570,000,000 CRC

Banco Improsa - They offer services for foreigners, also. I am just not sure about their stability. No experience wwith them.

Banco Bct - They offer services fo foreigners - but they require a residence permit or citizenship from any latin america country. Panamian residence permit is enough. Remote account openning not possible.

Banco BAC San Jose - They are bank for loans, credit cards, and other lending options. They also offer insurance.. They have a banking license, but I do not believe that they offer any services to foreigners

Banco Promerica – Costa Rica - They offer services to foreigners, but very strict Due dilligence, also after having account openned - for almost any transaction. Remote account openning is possible, but will cost you a huge bunch of money to provide all required documents with apostilles, translations, certifications, etc..

Citibank Costa Rica - Openned to foreigners. They welcome foreigners and have a reasonable conditions. If you are a Citibank customer in any other country, account openning process is much easier.. Remote account openning is not possible. Sometimes it is possible, but with a right introducer, only.

Banco de Costa Rica (BCR) - Does not serve foreigners

Banco Nacional de Costa Rica - Openned for foreigners. It is just a problem to find english speaking clerk in the most of branches... Remote account openning is not possible without a right introducer.

Hi

I have an account with Citibank in another country.

 

[Marc M]

According to the OECD status list, Georgia executes CRS from 01.05.20 on. That can be the reason for banking problems there.

 

[khinkali]

Where did you find the status list @Marc M ?

It looks like OECD didn't put this information on their own Web site.

 

[Marc M]

Where did you find the status list @Marc M ?

It looks like OECD didn't put this information on their own Web site.

Approx. two weeks ago, Georgia was on the list with CRS-implementation due date 01.05.20. Now, this due date has disappeared and the list format has completely changed as well. Looks like an instable CRS-implementation process

 

[khinkali]

Which list @Marc M ?

Four different members have said things in this thread about not opening non-resident bank accounts or about CRS.

I doubt that I'm the only person who would like to know where this news is coming from. Either it is genuinely worrying news, or people are receiving fake information from somewhere.

 

[Marie Manila]

As far as I know, Georgia has signed CRS, but did not put it into force.
So it is probably on the list, but doesn't follow the CRS rules.

 

[JohnLocke]

As far as I know, Georgia has signed CRS, but did not put it into force.
So it is probably on the list, but doesn't follow the CRS rules.

Where exactly have you learned about this?

 

[Tax Cow]

What bank is opening accounts remote there?

Remote opening by sending certified and translated-to-Spanish documents by courier is an option some banks may consider. Bank names via PM if interested. But sending digital documents via E-mail and not showing up in person does not work in CR. Not with the better banks. Several decent CR banks are open to non-residents but the initial legwork to get the account is substantial.

The place is conservative and old-fashioned in financial affairs, also lacks severely in support for English service. All those aspects are good and bad at the same time. The place is not over-run by westernerers as many are put off by the hassle. This quite simply means that there's not as much buttfucking coming from the butthurt UK, Canada, EU, US, etc. as they focus in on more popular banking hubs and financial centers to which they lose more of their tax base.