You are right. Based on the system that we currently have, accounts can be frozen by the government. Having money in different countries can help in such a time where liquidity is a challenge
Having lived offshore for the past 8 years I fully agree with opening bank accounts in multiple banks in different countries. However, in the last few years many countries are making it very difficult to open accounts for non-residents. With the introduction of FACTA many banks refuse to open accounts for US citizens. It would be helpful if you could provide some guidance on which countries make accounts avaialble for non-residents.
Andrew, would you please do a video on your top oversea's banks based on their online presence or platform. I am looking for ease of use. Thank you so much for considering this request.
good idea. In addition, any possibilities of opening online without paying 'introducer' fees. I realise this is limited. However, not as easy to fly around the world with the current changes to travel. :))
Don't mean to nitpick Andrew, but you have to be aware that private bank deposit is not the same supstance like "cold hard cash". They're just measured with the same unit of measure ;)
I gotta reserve gold (in coins and bars) in my Swiss bank account (which will be on the behalf of the Daniel Luster Offshore Retirement Fund and the program called Malaysia My Second Home). I also would like to invest in stocks like McDonald's and Coca-Cola. B-) However, I have to make sure that my assets are safe and sound in my Swiss bank account in the Union Bank of Switzerland (in Zurich, Switzerland) so that no one takes my assets away from yours truly, the one and only, Daniel Luster! B-)
I'm not sure but accounting that fees kinda represent the risk your bank thinks that transaction represents u should minimize the risk your bank sees meaning u should transfer funds to a country your bank is comfortable with, then from that country to another. Let's say your money is in the US and u wanna transfer it to Russia, maybe u should try to transfer that money from the US to a western EU country, Germany for example, then to a eastern EU country, say Lithuania, and from Lithuania to Russia. Again idk if it actually works so don't take it too serious
@@artb.2260 And have you ever heard of "market risk"? Bitcoin is a speculative investment and can fluctuate like the price of a stock or soybeans. It is NOT something you would want to minimize your "fees" on International money transfers. It is something to use for the anonymous use of transactions you don't want Big Brother to know about.
Does it make absolutely any difference whether this money is coming out of an American credit union or bank? And how important is the actual amount does a $100,000 transfer for a different than a 400,000.
Great perspective here and definitely you draw good perspective here, speaking of Bank accounts in March when I arrive to Balkans I will be opening: Serbian, Montenergo, Serbian, and Albanian bank accounts, does not hurt to have redundancy as you often remind us to apply in our off-shore plan.
Do you have a limit to the amount of money you would hold in an account? If you had a million dollars, would you be comfortable holding it in one account at one bank? If not what would you do?
Hello, im an American living working abroad in Germany been here 4years but with work status I dont fall under any sanctions or pay tax as im a temporary resident under work visa . Im considering opening a bank account to stash some "rainy day " funds ?? Whats your take
Always choose super green, best flora fauna countries with balmy , humid weather all year round possessing countries in the world to deposit your huge cash into bank accounts. You and your family will live best life you deserve. Malaysia, Costa Rica, Brasil rural sites, Papua New Guinea's gentile places, Sri Lanka, Goa India, Colombia, Tanzania , Mombasa Kenya etc. We cannot live under typhoon, hurricane, twister having countries each and every year or so.
Thank you for your videos. Please give me an unswer if you can.- - is that safe to get across a border with a full suitcase of money? Can customs stop you or rob you?
I believe a significant number of his clients made their money in cryptocurrency speculation and crypto related businesses. He has other videos where he mentions cryptocurrency. I think he makes a good argument for diversification. However, I wouldn't want to keep any more money in government fiat than absolutely necessary. Opening the accounts and keeping minimal balances could be useful unless you need a higher balance for obtaining residency or citizenship.
@Mico you are the 4th person that I have seen mention Russia CBI. I'm waiting on Andrew to talk about it. I have seen online where Russia has a CBI coming out next summer for a Permanent Resident.
Sorry it's a Golden Visa allowing Permanent Resident. You can gain it by Real Estate, Government Bonds, Capital Investment, Starting your own business and hire 10 Russians or invest in certain Russian business.
I've read some articles that in order to have that an investor need to invest $100,000 for 3 consecutive years and wait 5 years to gain a citizenship. but it was not clear what type of investment.
@@TheKamallapseisHappening A hardware wallet,that only you have control of the private keys, is your "offshore account". A Swiss bank account in your pocket that you control not the banks. If you want to earn interest from your crypto holdings, look into Defi. High interest APY better than bank deposits.
@@artb.2260 lol I don’t think you understand what I’m asking. Opening an offshore account requires depositing something other than crypto. It’s still necessary to have a bank account in order to do business in some places.
Do you trust Erdogan ? Locking half a million for 3 years into a bank account in Turkey is not the smartest thing one can do considering how exponential perfect the Turkish Lira lost value over the last decade. Essentially, it would be the most expensive CBI one can do right now, with exception of Zimbabwe perhaps.
@@nomadcapitalist I guess, there must be a reason why the Turkish people dump their wonderful Lira in favor of Gold. I wonder what that reason could possibly be. Also, I wonder why so many of them prefer to rather live in over taxation district Germoney.
Proud to have my country mentioned many times in his videos (Malaysia)
"L-E-G-A-L-L-Y go where you're treated best" - I love that part LOL
You are right. Based on the system that we currently have, accounts can be frozen by the government. Having money in different countries can help in such a time where liquidity is a challenge
Well said. Also important for when one of your banks closes your accounts within a short timeline for “derisking” purposes.
Having lived offshore for the past 8 years I fully agree with opening bank accounts in multiple banks in different countries. However, in the last few years many countries are making it very difficult to open accounts for non-residents. With the introduction of FACTA many banks refuse to open accounts for US citizens. It would be helpful if you could provide some guidance on which countries make accounts avaialble for non-residents.
@@p.c.h.6721 Which countries are those?
I love all your clips.
I wish you the best.
Thank you
Thank you!
Wish you all the best too😘
COLD HARD CASH.............Very old school...............Loved it:):):)
Enjoyed watching your vids everyday keep up the great work
Glad to hear it
Amazing video! Loved it! Thanks Andrew
You change a lot since last year
Andrew, would you please do a video on your top oversea's banks based on their online presence or platform. I am looking for ease of use. Thank you so much for considering this request.
good idea. In addition, any possibilities of opening online without paying 'introducer' fees. I realise this is limited. However, not as easy to fly around the world with the current changes to travel. :))
@@haych27 Thanks much, Helen
I appreciate the Panama information. I have a best friend there.i really love the country.
Don't mean to nitpick Andrew, but you have to be aware that private bank deposit is not the same supstance like "cold hard cash". They're just measured with the same unit of measure ;)
What countries in European countries you can walk in and open an account with your passport?
Do you have a recommendation in a US bank that can easily do business in other countries?
Is it legal to leave a stranger an off sure account? How does it work ?
Just don't forget the FATCA requirements! (8938, FBAR, etc.). PFICs are more trouble than they're worth!
I gotta reserve gold (in coins and bars) in my Swiss bank account (which will be on the behalf of the Daniel Luster Offshore Retirement Fund and the program called Malaysia My Second Home). I also would like to invest in stocks like McDonald's and Coca-Cola. B-) However, I have to make sure that my assets are safe and sound in my Swiss bank account in the Union Bank of Switzerland (in Zurich, Switzerland) so that no one takes my assets away from yours truly, the one and only, Daniel Luster! B-)
How do you minimize the fees (which are often quite high) when transferring funds internationally between bank accounts?
@Neels B; That's a good question. I hope Andrew answers it.
I'm not sure but accounting that fees kinda represent the risk your bank thinks that transaction represents u should minimize the risk your bank sees meaning u should transfer funds to a country your bank is comfortable with, then from that country to another. Let's say your money is in the US and u wanna transfer it to Russia, maybe u should try to transfer that money from the US to a western EU country, Germany for example, then to a eastern EU country, say Lithuania, and from Lithuania to Russia. Again idk if it actually works so don't take it too serious
Ever heard of bitcoin?🤔🙄
@@artb.2260 And have you ever heard of "market risk"? Bitcoin is a speculative investment and can fluctuate like the price of a stock or soybeans. It is NOT something you would want to minimize your "fees" on International money transfers. It is something to use for the anonymous use of transactions you don't want Big Brother to know about.
@@jamesbond9093 You must be the Sean Connery James Bond and not the Daniel Craig 007.
Outstanding
Does it make absolutely any difference whether this money is coming out of an American credit union or bank? And how important is the actual amount does a $100,000 transfer for a different than a 400,000.
A person who has an off sure account leave a stranger money from their off sure account, is it legal
Great perspective here and definitely you draw good perspective here, speaking of Bank accounts in March when I arrive to Balkans I will be opening: Serbian, Montenergo, Serbian, and Albanian bank accounts, does not hurt to have redundancy as you often remind us to apply in our off-shore plan.
I prefer to bank inside my mattress...
Put your money where you lay your head. Never trust another person...
not all of it but at least some of it for sure
Depends on how you have, I’m afraid of heights lol
Do you have a limit to the amount of money you would hold in an account? If you had a million dollars, would you be comfortable holding it in one account at one bank? If not what would you do?
Please cover about dukascooy bank of switzerland
How comfortable would one be putting money in Equador since theyve defaulted?
Are Singaporeans allowed to have Dubai residency visa?
Cash is King
Which banks are non-FACTA/CRS ?
@Andrew, please advise your thought on Countries that are under increased monitoring due to being on the FATF grey list. Thank you.
Hello, im an American living working abroad in Germany been here 4years but with work status I dont fall under any sanctions or pay tax as im a temporary resident under work visa . Im considering opening a bank account to stash some "rainy day " funds ?? Whats your take
Always choose super green, best flora fauna countries with balmy , humid weather all year round possessing countries in the world to deposit your huge cash into bank accounts. You and your family will live best life you deserve. Malaysia, Costa Rica, Brasil rural sites, Papua New Guinea's gentile places, Sri Lanka, Goa India, Colombia, Tanzania , Mombasa Kenya etc. We cannot live under typhoon, hurricane, twister having countries each and every year or so.
Thank you for your videos. Please give me an unswer if you can.-
- is that safe to get across a border with a full suitcase of money? Can customs stop you or rob you?
Getting residency for putting money in the bank is not true for Thailand.
Amazing to hear u referencing crypto. I was confident you would be intelligent enough to realise the synergy between crypto and your style of advice.
I believe a significant number of his clients made their money in cryptocurrency speculation and crypto related businesses. He has other videos where he mentions cryptocurrency. I think he makes a good argument for diversification. However, I wouldn't want to keep any more money in government fiat than absolutely necessary. Opening the accounts and keeping minimal balances could be useful unless you need a higher balance for obtaining residency or citizenship.
How about a conversion table like you have for currency or language for current country to desired country and your options show up?
Interesting idea.
Why the corrupt politicians invest their money in offshore bank
Teach me senpai
andrew what is now the interest rate in russia? is there a cbi in russia?
@Mico you are the 4th person that I have seen mention Russia CBI. I'm waiting on Andrew to talk about it. I have seen online where Russia has a CBI coming out next summer for a Permanent Resident.
Sorry it's a Golden Visa allowing Permanent Resident. You can gain it by Real Estate, Government Bonds, Capital Investment, Starting your own business and hire 10 Russians or invest in certain Russian business.
I've read some articles that in order to have that an investor need to invest $100,000 for 3 consecutive years and wait 5 years to gain a citizenship. but it was not clear what type of investment.
I love your videos you offer us great advice from an experienced globalist
I appreciate that! Thanks Nadine😊
How to deposit crypto into a foreign bank account...
Why would you want to deposit crypto in a bank? It is called a
"Decentralized and trustless technology" for a reason.🤔🙄
@@artb.2260 I meant how does one open an offshore account with just crypto
@@TheKamallapseisHappening A hardware wallet,that only you have control of the private keys, is your "offshore account". A Swiss bank account in your pocket that you control not the banks. If you want to earn interest from your crypto holdings, look into Defi. High interest APY better than bank deposits.
@@artb.2260 lol I don’t think you understand what I’m asking. Opening an offshore account requires depositing something other than crypto. It’s still necessary to have a bank account in order to do business in some places.
@@TheKamallapseisHappening lol, you're right, I don't fully understand your question. Hopefully Andrew can get back to us on this one.
i have the best overseas bank account,
BITCOIN
love it
100%
Bitcoin= " A savings account in cyber space run by incorruptible software that stores value for 100 years. " Michael Saylor
Microstrategy
So basically if your not rich just stop watching lmaoo
First
Do you trust Erdogan ? Locking half a million for 3 years into a bank account in Turkey is not the smartest thing one can do considering how exponential perfect the Turkish Lira lost value over the last decade. Essentially, it would be the most expensive CBI one can do right now, with exception of Zimbabwe perhaps.
The deposit is in USD.
@@nomadcapitalist I guess, there must be a reason why the Turkish people dump their wonderful Lira in favor of Gold. I wonder what that reason could possibly be. Also, I wonder why so many of them prefer to rather live in over taxation district Germoney.
Another video suggesting how to totally over complicate your finances and life.
You're part of the problem!
Huh???