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1) Jurisdiction matters - select a good one

Every country offers something different, and while you may be more familiar with certain
places or have heard that a particular jurisdiction is good for offshore banking, it’s best to
do your due diligence.

Do you want the respect that comes with a financial center like Hong Kong or Singapore or
would a more traditional tax haven in the Caribbean be more suited to your needs? Perhaps
the answer for you is actually in a growing country like Georgia, probably the easiest place
in the world to open a bank account.

In Nomad Capitalist’s The Best Offshore Banks guide, you can find the answers to these
questions.

The 51-page guide has too much information to list here, but the summary is that we found
56 banks in 18 countries we felt were worthy of recommending. We did our research on
each bank, including asking professionals we know who have actual experience with the
various banks.

That said, we didn’t include a bunch of technical jargon in The

Best Offshore Banks because I realize most people just want to
get from Point A to Point B without a lot of fuss. The guide is
designed to be an easy read and quickly help you determine
where to open your first (or next) offshore account with minimal
hassles.

We list who is a good fit for each country and each bank so you
can determine which banks are the best for you.

There is no one size fits all when it comes to diversifying your

money internationally. If you want to get started with the best
banks for you, you can download a copy of the guide and get
started.

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2) Sometimes it’s important to know which branch will

open a bank account for you.

Beyond knowing which country or which bank to use, it’s often important to know even
which branch to go to. Our team recently gathered in Singapore to open bank accounts
and one team member decided to go to a different branch, in another part of the city, of
the same bank that we were using and was rejected.

3) If you are from US, you will always be in a worse

situation than others.
Banks are leery to do business with Americans because of the high compliance costs
incurred by FATCA. For that reason, banks will either flat out refuse to do business with you
or make it much more difficult for you to open an account.

By following the rules in this document as well as the advice given in The Best Offshore
Banks, you’ll have the greatest opportunity at succeeding in your offshore strategy.

4) Check your bank card’s PIN code

Europeans and others from countries where PIN codes are 4 digits may have problems
opening bank accounts in places like Mexico and Singapore where ATM machines allow for
6 digits to be entered.

When opening an account, you’ll need to ask if the card will have a 4 or 6 digit PIN,
because if you’re a European, you won’t be able to take out money in your home country if
it’s a 6 digit PIN.

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5) Calling your bank won’t solve your problems.

It’s almost impossible to get information from a bank when you call them. Banks are large
corporate institutions and one individual representative will not be able to give you all of
the answers that you need to decide whether the bank is a good fit for you or not. The best
you’ll be able to do is spend hours on the phone being forwarded from one person to the
next.

What you can do, however, is purchase our Best Offshore Banks guide. Rather than wasting
an afternoon calling all of the different banks that exist and comparing notes on them, all of
the information you’ll need (and some you probably didn’t know that you’d need) will be
easily available at your fingertips.

6) The best banks will give you great returns 


on your money.
Not only will the best offshore banks protect your money from taxes, they’ll also offer much
higher interest rates than you’d get back home.

7) Wire transfers can be unpredictable in the amount of

time it takes them to go through. 

I recently wired two people money from my bank in Hong Kong, one was in Poland and the
other was in Austria. The Austrian received the wire after 7 days while it only took the Pole
one. As long as you’re working with a reputable bank, the money will come, it just may
take longer in some cases.

8) Dress nicely when opening the bank account


- they judge your look.


While you might think that this shouldn’t matter, banks can choose who they do business
with. If you don’t present yourself well, from how you speak with bank representatives to
the way you dress, there are chances that you’ll be rejected solely for your appearance.

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9) Banks with bank secrecy are ones that 


you should avoid.
While bank secrecy is a think of the past for American citizens and much of the Western
world, as your government will require you to comply with offshore reporting requirements,
that’s not the only reason bank secrecy is something you should be seeking out.

Banks with bank secrecy are ones you should avoid as they’ll be the hardest to get your
money out of. Users of these banks come under suspicion for money laundering and other
nefarious activity and businesses will not want to be associated with them.

10) You can hold many different currencies in one bank account

Banks in financial centers like Hong Kong, Singapore, and Andorra offer as many as 12-15
currencies. With the Western world in decline, one of the ways that you can protect yourself
is with currency diversification. Holding different currencies is one of the best investments
you can make.

With increasing capital controls, a war on cash, and a changing global economy that
increasingly favors the emerging world and the East, banking offshore is something
everyone — not just the wealthy — must consider as part of a sound diversification strategy.
Find out how in The Best Offshore Banks.

Hi, I'm Andrew.

In these blog posts and in my services for private members, I share my years of experience
in the offshore world to help people like you increase their wealth and personal freedom.

At Nomad Capitalist we specialize in citizenship planning and offshore business optimization

to help you best achieve your personal international goals.

It's very easy to get stuck in a perpetual cycle of reading blogs, learning every small detail
about every single jurisdiction, but not taking action to make the benefits of these
strategies a REALITY. I’m here to help you get over that hump and achieve the life you’ve
always wanted, today.

If you'd like to be considered for one of the few people I work with directly each month, I
invite you to apply for a free consultation with me, now.

During the call, I will create a personalized action plan based on your situation that will give
you a straightforward path to achieve your goals in the most efficient way there is.