I recently relocated from the EU to Mexico.
The prevailing advice is to avoid depositing money into a Mexican bank account to stay off the radar, with the understanding that this approach will ensure minimal hassle 99% of the time, a lot of people told me not to declare anything here since you might become an easy target and since law enforcement for expats is weak. Currently, I receive funds in my Wise account, which is linked to my EU residency.
I'm searching for online banking options that allow me to both send and receive wire transfers, especially in USD (Amazon), with reasonable fees and reliable online banking services.
Additionally, I'm interested in banking solutions that offer a debit card. Although I could plan to transfer a small sum, such as $1,000 to $1,500 per month, into a Mexican bank account for daily expenses.
It would be a bonus if the bank is located in a non-CRS country. I understand that, as a non-resident, I might be able to open bank accounts in Paraguay, El Salvador, and the Dominican Republic.
My side business is related to cryptocurrencies, decentralized finance, etc. I aim to maintain a minimal bank balance, around $20,000, to cover business expenses, advertisements, etc., while investing the rest in cryptocurrencies and managing them through self-custody, which I am already practicing. Therefore, a crypto-friendly bank that supports seamless crypto transactions, including on-ramping and off-ramping, and facilitates business expenses would be ideal. Moreover, since there's a significant peer-to-peer (P2P) crypto community here, converting crypto to cash is also an option I'm considering, the thing is: I need to be able to pay wires and receive wires from amazon.
What banking options do I have that meet these criteria?
The prevailing advice is to avoid depositing money into a Mexican bank account to stay off the radar, with the understanding that this approach will ensure minimal hassle 99% of the time, a lot of people told me not to declare anything here since you might become an easy target and since law enforcement for expats is weak. Currently, I receive funds in my Wise account, which is linked to my EU residency.
I'm searching for online banking options that allow me to both send and receive wire transfers, especially in USD (Amazon), with reasonable fees and reliable online banking services.
Additionally, I'm interested in banking solutions that offer a debit card. Although I could plan to transfer a small sum, such as $1,000 to $1,500 per month, into a Mexican bank account for daily expenses.
It would be a bonus if the bank is located in a non-CRS country. I understand that, as a non-resident, I might be able to open bank accounts in Paraguay, El Salvador, and the Dominican Republic.
My side business is related to cryptocurrencies, decentralized finance, etc. I aim to maintain a minimal bank balance, around $20,000, to cover business expenses, advertisements, etc., while investing the rest in cryptocurrencies and managing them through self-custody, which I am already practicing. Therefore, a crypto-friendly bank that supports seamless crypto transactions, including on-ramping and off-ramping, and facilitates business expenses would be ideal. Moreover, since there's a significant peer-to-peer (P2P) crypto community here, converting crypto to cash is also an option I'm considering, the thing is: I need to be able to pay wires and receive wires from amazon.
What banking options do I have that meet these criteria?
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