Offshore banks to open remotely/without travelling

Finances
1

Bored, so thought I would start this post in considering members who cannot afford to travel or restricted by Travel Visa or just prefer sitting on the beach cooking!

I will add country and caveat as I am aware of, welcome updates and links, also experiences. Please no e-wallets, but ok for EMIs like TransferWise but not NEAT as only really a prepaid card with restricted e-wallet option

PLEASE focus on “Personal Bank” Accounts only which are possible to open from home! or from the Beach!!!

If any banks proposed need an introducer PLEASE do your own due diligence for any introducers proposed and read terms and conditions of agreements/Power of Attorney (POA). If you don’t like articles ask for them to be changed and compare between other introducers, ensure it only refers to one Bank not multiple so that don’t open a few Banks in your name, limit the date they represent you a month or two maximum and ceases after a few weeks and don’t add money until after the date expiries unless the Bank needs the minimum deposit and check with bank POA is nullified, also terms never states “take a loan or credit on your behalf” (pm me if need help)

Some need notarized documents, some use VDO interview , ID technology, selfies etc.

(maybe someone wants to start a separate post for Biz accounts)

Prefer it does not become a discussion on tax and hiding bank accounts so please do your own research… Some general information below attachment. please leave it at that and focus on PERSONAL OFFSHORE REMOTE OPENING BANKING only. Thank you.

FACTA-CRS-Territory Tax .docx.pdf (24.0 KB)

Readers interested in a Bank please contact the.Bank read the terns and requirements for opening before posting questions. But by all means ask about peoples experiences and do’s and don’ts to avoid getting accounts freezed.

If you post a Bank please add similar details as mine to help everyone. Thank you
Happy Banking :smile: (hopefully) spread the risk :smiley:

Switzerland

Swissquote

Actually a Broker but comes with Bank Card and able Crypto trading, can only fund from account in own name. No Minimum Deposit, depositor protection guarantees up to a limit of 100,000 E

Europe

N26

limited to EU, Swiss and US residents, Bank Card closing accounts for UK residents due to brexit
depositor protection guarantees up to a limit of 100,000 E

Revolut

EU, Australia, Canada, Singapore, Switzerland, and the United States, seeking licence for Hong Kong with Bank Card. no depositor protection guarantees

Transferwise Borderless Account

Depositor protection guarantees through their Barclays UK account however not sure if applies to mixed funds and “local” currency accounts in other countries. Bank Card only available in certain countries

US Territories, Puerto Ricco

EPB

Did have bank card for EU residents but believe not available at present, not available to US residents
500USD

Virtual Banks Puerto Rico

Planned to open 2020, currently has a waitlist. Looks interesting.

Singapore

Citi Bank

Need 200k USD, Bank Card

OCBC Premier

https://www.ocbc.com/personal-banking/premier-banking/index.html

Need 200k Singapore $, Bank Card

Hong kong

I believe all need to visit in person unless UHNWI

Jersey (UK crown dependency)

Barclays Internationals

Need 25000 GBP, Bank Card. depositor protection guarantees up to a limit of 50,000 GBP

HSBC Expat

£100 set up fee, a minimum balance of £25,000 (or zero set up and £60,000 needed, Bank Card
depositor protection guarantees up to a limit of 50,000 GBP

Gibraltar or Isle of Man (UK crown dependancy)

Lloyds International

£50,000 gross income OR £25,000 to save or invest. Many countries of residence are excluded. Bank Card. depositor protection guarantees up to a limit of 100,000 GBP

Isle of Man and Jersey (UK crown dependency)

Santander International

IUK expats and NON DOM UK resisents, 75K needed. Bank Card

Georgia

(PLEASE do due dilligence if use introducer)

TBC Bank

Basic and Prenier Acxounts. Bank Card need intoducer with POA. only protecction for nationals and very low

Bank of Georgia (BOG)

https://solo.ge/en/solo-bank

Premier side of https://bankofgeorgia.ge

Bank Card need introducer with POA0, protection as above

Cambodia

ACLEDA Bank

No Bank Card, unless travel after opened
No deposit protection, high fixed term deposit rates

Labuan (Malaysia)

Fidelity Asia Bank (part of Fidelity Bank Ghana)

https://www.fabbanking.com/banking

Advertised Bank Card, but not sure if they provide, 500 USD opening, No deposit protection

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Arival Bank is removed as they just confirmed thru on line chat roll out will be for BIZ only later personal accounts,

3

Swiss EMI

Dukascopy

FX CFD trader with.EMI Bank service

Reasonable list of nationalities can sign up but the Bank Cards limited to some countries, account Quarterly limits based on verified and unverified monthly salary. Able to invest stocks and crypto but seems with a caveat not held in your name but under a POA.

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This is a very useful list asia2!
Have you, or has anyone else had any experience opening an account with Euro Pacific Bank in Puerto Rico?

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For the HSBC Expat account in Jersey the minimum balance is £50,000, not 25,000: see https://www.expat.hsbc.com/accounts/products/bank-account/ , under “Eligibility”:

To become a customer you’ll need to be at least 18 years old, and hold a minimum of GBP 50,000 (or currency equivalent) in deposits or investments with us, or have a sole salary of GBP 100,000 (or currency equivalent), or have qualified for Premier in another country.

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thanks ENZO

Hi Nacho, yes in regards EPB they require a video call by one of their agents easy really just asked.a few questions on my application took less thqn 5 minutes.
they get mixed good and bad press I have had no problems. If you transfer out or receive payment from third party ask for evidence in example if top up a personal prepaid card they just want up load of a photo of the card in your name.
transfers outbound usuually take about 5 to 7 days to approve
overall my experience has been good and customer services helpful.
I think they have a broker option through SAXO

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Great initiative to compile a list of banks that allow opening accounts without requiring physically going to a branch! (If I understood your intent correctly)

Would be even better if you could proofread your post (good grammar helps with credibility; random references to cooking on the beach, and triple exclamation marks - less so) and clarify a few aspects:

  • What do you mean by “offshore”? Relative to what country?
  • Are you looking for banks that accept new customers not residing in that country?
  • Are introducers ever necessary?
  • Would this be a clearer title for the thread: Banks accepting remote account opening?
    • Those banks that do, could further be divided into two categories: banks that accept opening accounts fully online (hopefully most of them), and those that may require mailing physical papers.

That said, Interactive Brokers is a broker that issues debit cards, is available in pretty much any country except the usual suspects (Iran, Iraq, Cuba, North Korea), and allows opening an account without physical presence requirements.

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You need to be a current + legal US resident and have an SSN in order to apply for the IB debit card. Plus the debit card itself is pretty meh in comparison to the competition.

IB has plenty of other uses though, and is awesome in general.
I❤IB

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PS, Offshore generally relates to Banking institutes outside your country of residence

PPS. the only Banks in the list, I believe, you need an introducer for is Georgia. I contacted the two main banks to open remotely and they said I need some one in Georgia under a POA which is essence is the same thing as you need a notary in Georgia to validate your apostile documents. if you contact TBC maybe you will be lucky and will not have to.

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@asia2 I didn’t read @dandv’s post as anything other than constructive feedback. He wasn’t attacking you personally in any way. Like he said, it’s a great initiative that could be even better if it was a bit easier to read. (I personally don’t mind references to opening accounts from the beach, though.)

Anyway, since you mentioned the forum rules, here they are (they’re a bit hard to find when you’re not a new user):

Rules:

  • Introduce yourself :wave::heart_eyes_cat:
  • Emojis encouraged :rocket::ok_hand:t2:
  • No self promoting, unless relevant and helpful in the given context :no_entry_sign::mega:
  • No referral or affiliate links without permission :no_entry_sign::money_with_wings:
  • Be helpful and constructive. Criticize ideas, not people :person_raising_hand::ok_man:
  • Read the Community Guidelines

While I realize that everyone’s first language isn’t English, try to the best of your ability to spell correctly, use proper grammar, punctuation, capitalization, etc. :pray:

And yes, the last point is about trying to have proper spelling and grammar :wink:

That being said, it’s better to have an informative and useful post with less than perfect style rather than no post at all. Still, clean and easy-to-read style is appreciated as much as possible.

(I think you agree with this, since you also messaged me to ask about how to better format your post with headings, etc.)

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Thanks for this article! If you guys experience bank failure with any of listed banks here, please update. I’ve heard there are some Belizean banks that can help you open an account remotely but they’re not very fast… they take few months to process set up an account.

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Thanks for the time and effort in compiling this list, asia2. Much appreciated. Haven’t connected here in many months. Since one’s personal banking is open to reporting to one’s country of residence (and therefore open to taxation and interference, miscomprehension), interested in easy bank account opening for registered small companies ‘offshore’- not one’s country of residence. Yes, I know, a new thread. Considering SwissQuote now. Seems like an active answer to the riddle of not declaring funds profit, yet having access to their purchasing power.

1 Like