Great stuff - I have been looking in the Philippines recently - they have great residency programs and territorial tax. You should do a video on it Raf.
While Armenia does not implement the CRS financial exchange, it does implement the EEU financial exchange. It may not be important to many people but keep in mind that the CRS financial exchange is not the only one in the world. Double check. BTW, I cannot agree that Armenia is a rough place and Georgia is a nice place with a great cuisine. Both countries have similar macroeconomic parameters (such as GDP PPP per capita) and intentional homicide rates. And unless you are very healthy, Georgian food is very oily, floury and hard to digest. If you eat Khinkali or Khachapuri every day, you'll soon get into trouble.
From what I've heard, it's still about a 15-year process with a lot of pain and frustration along the way.... you're just better off looking into dual citizenship.
@teecee_dj purchase a home to "renounce" your US Citizenship? What's the point of that, if I may ask? 🤔 again, it's something I've heard, not solidified my brother...
@@jaimehargrove1212 Purchasing a home in another country doesn't directly lead to renouncing US citizenship. Renouncing citizenship is a separate, formal process that involves legal steps and has various personal reasons behind it, like tax considerations or personal beliefs.
@@teecee_dj Gotcha, understood though there was never any mentioning regarding to "purchasing a home". I am also off, the 15 year process I had mentioned was regarding living overseas as an expat, that you would still need to pay your US taxes as such...... my bad, my train of thought at the time was on that because I had considered it many years ago. @profortunebaron, there you have it. 👍👍
Anyone else is catching to this guy BS. The video did not cover restrictions on these banks for outgoing wire limitation, on amount and frequency. Be aware of newbies trying to sell you over the internet. And yes, he is probably going to reply, but hey it is an open platform.
@@WealthyExpat I checked the list of CRS countries and I found El Salvador and even Qatar. Here are my questions. 1. Can you explain that. 2. What about Switzerland. Appreciate your education.
@WealthyExpat I checked the list of CRS countries and I found El Salvador and even Qatar. Here are my questions. 1. Can you explain that. 2. What about Switzerland. Appreciate your education.
I like other countries for lifestyle more than Cambodia but I can see some great benefits with it. What type of property can foreigners buy in Cambodia?
The Dominican Republic really is a hidden gem. I would like to see more videos talking about how great it is as a long term option. There are Latin American countries with weaker economies that have visa access to Schengen. I'm sure the Dominican Republic will get Schengen visa access in the near future.
How do you transfer wealth into Serbia? I see Revolut charges more than 1 % for the transaction. For that I can buy a new car! Is there a cheaper way to transfer wealth into Serbia?
What if Im a non resident foreigner who has US LLC in Texas and I pay taxes. Will I be able to easily open a bank account in UAE and will I be under CRS bcoz I have a US LLC although Ive never been to US in my life?
@WealthyExpat depends. Suppose you could connect the bank account to a crypto account; that way, you'd never have to keep much fiat currency in the bank. For example, if you transferred $5,000 from the crypto exchange to the bank, and the bank proceeded to steal the money, it wouldn't be a disaster.
US is non CRS, provided your not a US citizen, green card holder, or tax resident it’s one of the best places to bank with privacy, security and superb service.
Except it is pretty much impossible for a non-US corporation to obtain a bank account in the US, at least directly, and if you obtain banking in your own name or via a US entity, then your US situs assets are subject to US estate tax at a rate of 40% starting at $60k if you are a nonresident alien. No thank you.
@@cindycindy7978 That applies to all banks globally though. The US Gov't has saved every failed bank since 2008 so a de facto guarantee. If you are really concerned about a bank run though, store your excess capital in treasury bonds, or Bitcoin if you can stand the volatility.
There are 200 countries. You live in one. Be thankful he mentioned your specific situation. That's kind of arrogant, like you are the focus of the world. Sorry it took 1:25 to serve you.
nice video...... could you make a video about El Salvador?? or an interview with max keyser about how to chash out crypto there and get a residence there? would like to move there...
The thing you mentioned about Qatar is the same in the west. Many people get arrested for not paying loans and credit. They guy that was jailed in the video stated that it was 5 years ago. Timestamp: 6:03 Why has it been so trendy to criticize Qatar. Are people jealous or something. Even the headline in 5:59 He got caught by the Iraqi authorities and got put in Jail and whoever is in jail is in jail, why does the news article mention Al Qaeda, like really? This is so bizzare how people nowadays try to manipulate the masses. The media really is a powerful tool, huh? Rafael, cmon bro. Chill buddy
@@lylefranksaunders2113 This was the ansawer I was looking for as Im about to open a US LLC for Amazon reseller account and I'll be a non resident US tax payer. I'll also be opening a UAE LLC , hope CRS won't bother me according to your answer.
@@lylefranksaunders2113 Um if you have more than $60k in a US bank account, own US real estate worth over $60k or have a US company ie LLC or corporation worth over $60k, and you die then those US situs assets are subject to a 40% federal US estate tax as a non-resident alien and may also be subject to the estate tax of the US state or territory where the property is located. I mean the US is not that great for nonresident aliens with limited exceptions that require very astute structuring to avoid the US estate tax. Most of the structuring required to avoid the US estate tax will subsequently get you onto the radar of CRS countries. What is more any income from those assets will be subject to US withholding tax up to 30% absent you living in a country with a double tax treaty with the US which would also get you onto the radar of that country for reporting when you claim treaty benefits as sharing information is part of the double tax treaties.
All roads lead to Bitcoin dude! Why the hell would you want to hold much garbage fiat, that someone else is constantly creating for free and diluting you, whilst you have to work for it, in any bank account?!!
Bro you haven’t talk about it yet 😥 it’s seems like people need another passport but Mexico passport become a less powerful now they recently lost access to Canada 😩
Who cares about Canada. Most people watching this channel are U.S. or eu citizens who already have visa free to Canada. Either way, having to get a visa to Canada doesn’t bother me one bit. Too cold and boring.
Only locals and multi-billionaires can open bank accounts there. The reason BVI is left alone as a tax haven is both because the mega rich love it but also because BVI makes it extremely difficult for outsiders to do anything there unless mega rich. The only way in for most people is to naturalize as a local through marriage, or to be born to a BVI national.
@@kidfas786 That used to work but hasn't since 2010 when BVI banned that to get off the EU Blacklist. Also thanks to CFC rules it would be pointless to do so as then you'd have to pay 70% tax to the EU, CANZUK or CUNA as the people who can afford that are living in those places or are already in tax havens and wouldn't care about BVI. Not to mention that the EU, CANZUK or CUNA will prohibit you from doing anything with BVI unless you're a citizen of BVI or living in a tax haven that isn't blacklisted.
@kidfas786 you would have to report ownership of the corporation to the US government.... if you're a US citizen... and if you own more than 50% of the company.
I have asked you to talk about guyana for a while now but you never did. Was going to advertise my land I have for sale but now I will not. Land is going to get very expensive in guyana soon because of the rapid developments in oil and gas. I have land in a already developing area. not too far for the supermarket and coastline. I will share it elsewhere.
@Wealth Expat - what if I'm From the Philippines and I own a market agency and that company is registered in the US as an LLC and I got a mercury bank account as a business bank. and I transfer my profit to the Philippine bank account. what type of bank should I get in the Philippines?
Great stuff - I have been looking in the Philippines recently - they have great residency programs and territorial tax. You should do a video on it Raf.
One my Canadian friends went there.
While Armenia does not implement the CRS financial exchange, it does implement the EEU financial exchange. It may not be important to many people but keep in mind that the CRS financial exchange is not the only one in the world. Double check.
BTW, I cannot agree that Armenia is a rough place and Georgia is a nice place with a great cuisine. Both countries have similar macroeconomic parameters (such as GDP PPP per capita) and intentional homicide rates. And unless you are very healthy, Georgian food is very oily, floury and hard to digest. If you eat Khinkali or Khachapuri every day, you'll soon get into trouble.
Bitcoin doesn’t use CRS, use that ;)
Yep exactly
Be ready to see your hard earned money go to 0 then
@@ruiferreira992 care to explain
@@ruiferreira992 What are you 80?
You still have to cash out to fiat if you want to have use of the value of btc
I need to renounce my U.S. citizenship to be able to do this. Can't wait!
From what I've heard, it's still about a 15-year process with a lot of pain and frustration along the way.... you're just better off looking into dual citizenship.
@@jaimehargrove1212 not unless you purchase a house , do your research properly
@teecee_dj purchase a home to "renounce" your US Citizenship? What's the point of that, if I may ask? 🤔 again, it's something I've heard, not solidified my brother...
@@jaimehargrove1212 Purchasing a home in another country doesn't directly lead to renouncing US citizenship. Renouncing citizenship is a separate, formal process that involves legal steps and has various personal reasons behind it, like tax considerations or personal beliefs.
@@teecee_dj Gotcha, understood though there was never any mentioning regarding to "purchasing a home". I am also off, the 15 year process I had mentioned was regarding living overseas as an expat, that you would still need to pay your US taxes as such...... my bad, my train of thought at the time was on that because I had considered it many years ago. @profortunebaron, there you have it. 👍👍
ARMENIA WILL JOIN THE CRS next year !!
Idiots
Interesting about EvocaBank in Armenia the fact being online but still requires residence permit on the country to open an online bank account
You don't need residency if you can place a $20k deposit
thanks for mentioning and including our country Philippines 🇵🇭 as non crs.
Anyone else is catching to this guy BS. The video did not cover restrictions on these banks for outgoing wire limitation, on amount and frequency. Be aware of newbies trying to sell you over the internet. And yes, he is probably going to reply, but hey it is an open platform.
You’re right I suck
@@WealthyExpat😂😂😂😂
I love dealing with trolls like that, bravo!@@WealthyExpat
@@WealthyExpat I checked the list of CRS countries and I found El Salvador and even Qatar.
Here are my questions.
1. Can you explain that.
2. What about Switzerland.
Appreciate your education.
@WealthyExpat I checked the list of CRS countries and I found El Salvador and even Qatar.
Here are my questions.
1. Can you explain that.
2. What about Switzerland.
Appreciate your education.
Can you do a report on Palau
USA GOV ; the largest Washers of money in history
Literally
Pretty sure gold storage is exempt from crs.
Yes, that's true; but the question is that of what happens when you sell it.
If you live in non CRS country and open an account in CRS country, Do they still report your account?
Nope
Depend on your citizenship
It’s crazy anti freedom to have US citizenship for wealthy seems like
I thought Uruguay had banking secrecy
Thanks. Is UAE member of CRS-system??
Yes they are
I like other countries for lifestyle more than Cambodia but I can see some great benefits with it. What type of property can foreigners buy in Cambodia?
The Dominican Republic really is a hidden gem. I would like to see more videos talking about how great it is as a long term option. There are Latin American countries with weaker economies that have visa access to Schengen. I'm sure the Dominican Republic will get Schengen visa access in the near future.
Do you live in Mexico now?
Define “live” haha
@@WealthyExpat stay?
@@pratheeshm400no, most of these TH-camrs speak highly of Mexico and south America but they almost always live in South East Asia or Dubai.
any advice on a US bank where a non-USA resident can open an offshore account?
It Vietnam part of the CRS? What’s your thought of becoming Vietnamese citizenship? Thanks
It's probably very difficult to get Vietnamese citizenship.
All Asian citizenships are not offered to foreigners
Thailand report also now ?
How about Belize, Portugal, Brazil???
How do you transfer wealth into Serbia? I see Revolut charges more than 1 % for the transaction. For that I can buy a new car! Is there a cheaper way to transfer wealth into Serbia?
What if Im a non resident foreigner who has US LLC in Texas and I pay taxes. Will I be able to easily open a bank account in UAE and will I be under CRS bcoz I have a US LLC although Ive never been to US in my life?
bangladesh is also not part of crs.
Sure but who’s going there to bank
@WealthyExpat depends. Suppose you could connect the bank account to a crypto account; that way, you'd never have to keep much fiat currency in the bank. For example, if you transferred $5,000 from the crypto exchange to the bank, and the bank proceeded to steal the money, it wouldn't be a disaster.
US is non CRS, provided your not a US citizen, green card holder, or tax resident it’s one of the best places to bank with privacy, security and superb service.
Except it is pretty much impossible for a non-US corporation to obtain a bank account in the US, at least directly, and if you obtain banking in your own name or via a US entity, then your US situs assets are subject to US estate tax at a rate of 40% starting at $60k if you are a nonresident alien. No thank you.
Bit concerned about the bank failures though.
@@cindycindy7978 That applies to all banks globally though. The US Gov't has saved every failed bank since 2008 so a de facto guarantee.
If you are really concerned about a bank run though, store your excess capital in treasury bonds, or Bitcoin if you can stand the volatility.
Any recommendation where a non US citizen can open an account without visiting USA?
@@rustyleltd You typically need a US social security number and address, it can be a mailing address.
Backyard gardening doesn’t use CRS
Now Thailand is in CRS
armenia joined to CRS and start report from 1 january 2025
Rafael I have bank account in Mexico, is it save from CRS?
Mexico is part of CRS unfortunately
1:25 to tell me my country can’t do it.
Lead with that next time, sir! That’s one minute, twenty five seconds I can’t get back.
There are 200 countries. You live in one. Be thankful he mentioned your specific situation. That's kind of arrogant, like you are the focus of the world. Sorry it took 1:25 to serve you.
Non-CRS: Jamaica??🇯🇲🤔
The mentioned bank in Armenia does not work. Not unless you have a residency permit there, plus many other things.
All you need is a minimum 10.000 USD deposit if you're not resident to open a bank account at Evocabank
nice video...... could you make a video about El Salvador?? or an interview with max keyser about how to chash out crypto there and get a residence there? would like to move there...
If you have recurring income.... and you're willing to spend at least 6 months per year there, you could probably get a residence permit.
@@dlukton Thank you my friend!!!
Excellent video, as always !
I didn't know about Qatar, that's something to consider.
The thing you mentioned about Qatar is the same in the west. Many people get arrested for not paying loans and credit. They guy that was jailed in the video stated that it was 5 years ago. Timestamp: 6:03 Why has it been so trendy to criticize Qatar. Are people jealous or something. Even the headline in 5:59 He got caught by the Iraqi authorities and got put in Jail and whoever is in jail is in jail, why does the news article mention Al Qaeda, like really? This is so bizzare how people nowadays try to manipulate the masses. The media really is a powerful tool, huh?
Rafael, cmon bro. Chill buddy
Research it properly bro, its scary.
@@WealthyExpat Any link?
I'm gonna have to get rid of my US citizenship
Second that
Can you do a report on Bangladesh for crypto please
Privacy and banking do not go together very well.. unless you are the ELITE... then there is plenty of privacy.
I am not US citizen. Can ı cash out usd to my bank account in other countries slowly?
kinda surprised that you're calling Armenia rough place
isn't USA non CRS? they don't share information with FATCA isnt it?
huh ? USA invented FATCA, now guess again ...
The US don't report non US citizens, they invented it but don't participate in it, so for a non US citizen the US is the best offshore strategy
@@lylefranksaunders2113 This was the ansawer I was looking for as Im about to open a US LLC for Amazon reseller account and I'll be a non resident US tax payer. I'll also be opening a UAE LLC , hope CRS won't bother me according to your answer.
@@lylefranksaunders2113 Um if you have more than $60k in a US bank account, own US real estate worth over $60k or have a US company ie LLC or corporation worth over $60k, and you die then those US situs assets are subject to a 40% federal US estate tax as a non-resident alien and may also be subject to the estate tax of the US state or territory where the property is located. I mean the US is not that great for nonresident aliens with limited exceptions that require very astute structuring to avoid the US estate tax.
Most of the structuring required to avoid the US estate tax will subsequently get you onto the radar of CRS countries. What is more any income from those assets will be subject to US withholding tax up to 30% absent you living in a country with a double tax treaty with the US which would also get you onto the radar of that country for reporting when you claim treaty benefits as sharing information is part of the double tax treaties.
@@lylefranksaunders2113at the same time if anything goes against US by deposited person, they will easily freeze all funds !
So never trust US😂
Bank without Bankers. #BTC
I made since 2020 more than 400k with initial income 18k
You mean Banksters? ;-)
@@cryptoadventurer4798good one ☝️
Let’s stack up on that BTC, boys!
bitcoin is fully transparent/public. If you want privacy use Monero instead of Bitcoin.
All roads lead to Bitcoin dude! Why the hell would you want to hold much garbage fiat, that someone else is constantly creating for free and diluting you, whilst you have to work for it, in any bank account?!!
*Monero xmr*
Bro you haven’t talk about it yet 😥 it’s seems like people need another passport but Mexico passport become a less powerful now they recently lost access to Canada 😩
Who cares about Canada. Most people watching this channel are U.S. or eu citizens who already have visa free to Canada. Either way, having to get a visa to Canada doesn’t bother me one bit. Too cold and boring.
What about BVI ?
Only locals and multi-billionaires can open bank accounts there. The reason BVI is left alone as a tax haven is both because the mega rich love it but also because BVI makes it extremely difficult for outsiders to do anything there unless mega rich. The only way in for most people is to naturalize as a local through marriage, or to be born to a BVI national.
@@matthewnirenberg but you can register a company and get the bank account with the help of a business setup agency!
@@kidfas786 That used to work but hasn't since 2010 when BVI banned that to get off the EU Blacklist.
Also thanks to CFC rules it would be pointless to do so as then you'd have to pay 70% tax to the EU, CANZUK or CUNA as the people who can afford that are living in those places or are already in tax havens and wouldn't care about BVI.
Not to mention that the EU, CANZUK or CUNA will prohibit you from doing anything with BVI unless you're a citizen of BVI or living in a tax haven that isn't blacklisted.
@kidfas786 you would have to report ownership of the corporation to the US government.... if you're a US citizen... and if you own more than 50% of the company.
@@dlukton im not us citizen and i add a nominee director for the company and remain as the 100% stake holder
I have asked you to talk about guyana for a while now but you never did. Was going to advertise my land I have for sale but now I will not. Land is going to get very expensive in guyana soon because of the rapid developments in oil and gas. I have land in a already developing area. not too far for the supermarket and coastline. I will share it elsewhere.
What about Mexico?
😢
I don't participate in CRS, send your money to me 😂
Yeah, basically the same argument bitboys use🤣
Thanks à lot for your precious videos, but please: AVOID THIS SPECIAL EFFECTS which just hurts the eyes!!! 👍🏼👍🏼
Sorry !!
But these countries where life at Risk
Evoca bank from Armenië NOT POSSIBLE .... ONLY FOR RA CITIZENS !!!!
Hola
@Wealth Expat - what if I'm From the Philippines and I own a market agency and that company is registered in the US as an LLC and I got a mercury bank account as a business bank. and I transfer my profit to the Philippine bank account. what type of bank should I get in the Philippines?