{"id":10621,"date":"2017-03-31T09:00:49","date_gmt":"2017-03-31T13:00:49","guid":{"rendered":"http:\/\/www.escapeartist.com\/?p=10621"},"modified":"2020-11-19T15:54:56","modified_gmt":"2020-11-19T20:54:56","slug":"opening-offshore-bank-account-restricted-country","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/opening-offshore-bank-account-restricted-country\/","title":{"rendered":"Opening An Offshore Bank Account From A Restricted Country"},"content":{"rendered":"

Opening An Offshore Bank Account From A Restricted Country<\/strong><\/h2>\n

I got word yesterday from Belize that their corporate registrar won\u2019t accept clients from Russia any longer. That means anyone holding a Russian passport is prohibited from forming a company in Belize\u2026 \u00a0The same goes for bank accounts\u2026 no more Ruskies. <\/span><\/p>\n

When Belize blocks you, you\u2019re really in trouble. Hong Kong and Switzerland are one thing, but Belize? Come on now. <\/span><\/p>\n

It should be pointed out that these rules come down from on high (the United States). The conversation with banking and corporate regulators probably went something like this: <\/span><\/p>\n

Uncle Sam: Hey Belize, stop opening companies and bank accounts for Russians or we\u2019ll pull your correspondent accounts again and put you on our naughty list! <\/span><\/p>\n

Belize: Yes sir!<\/span><\/p>\n

And what happened to the Russian Reset we were hearing about under President Trump? I guess that\u2019s out the window as they fight the media and the Democrats on allegations of collusion. <\/span><\/p>\n

This got me to thinking. What other countries have a near-impossible time opening foreign bank accounts? Which are the restricted countries when it comes to international banking?<\/span><\/p>\n

I contacted the heads of several offshore banks and compiled this list from their answers. <\/span><\/p>\n

 <\/p>\n

High-Risk Countries<\/b><\/h2>\n

The following countries require \u201cEnhanced Due Diligence”.\u00a0 <\/span><\/p>\n

    \n
  1. Egypt <\/span><\/li>\n
  2. Lebanon <\/span><\/li>\n
  3. Papua New Guinea <\/span><\/li>\n
  4. Russia <\/span><\/li>\n
  5. Tunisia <\/span><\/li>\n
  6. Vanuatu <\/span><\/li>\n
  7. Venezuela <\/span><\/li>\n
  8. Zimbabwe <\/span><\/li>\n<\/ol>\n

    Banks in most countries aren\u2019t prohibited from accepting clients from these jurisdictions. They\u2019re just urged to use extreme caution in doing so. <\/span><\/p>\n

    As noted above, some countries prohibit Russian citizens. But, in most cases, they can apply\u2026 they might not be approved… but they can apply. <\/span><\/p>\n

    One interesting note on Vanuatu. You can find <\/span>offshore bank licenses<\/span> for sale from this country all over the web. What a total scam\u2026 you\u2019ll never be able to get a correspondent account for a bank licensed in Vanuatu. Don\u2019t even bother to try. <\/span><\/p>\n

     <\/p>\n

    Restricted Countries<\/b><\/h2>\n

    You\u2019ll never get an offshore bank account.
    \n<\/span><\/p>\n

      \n
    1. Afghanistan <\/span><\/li>\n
    2. Belarus<\/span><\/li>\n
    3. Burundi<\/span><\/li>\n
    4. Bosnia and Herzegovina (Balkans)<\/span><\/li>\n
    5. Central African Republic<\/span><\/li>\n
    6. Congo, Democratic Republic of\u00a0<\/span><\/li>\n
    7. Cote D\u2019Ivoire<\/span><\/li>\n
    8. Cuba<\/span><\/li>\n
    9. Eritrea<\/span><\/li>\n
    10. Guinea<\/span><\/li>\n
    11. Guinea\u2010Bissau<\/span><\/li>\n
    12. Guyana<\/span><\/li>\n
    13. Iran \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/li>\n
    14. Iraq<\/span><\/li>\n
    15. Korea, Democratic People\u2019s Republic\u2010 North<\/span><\/li>\n
    16. Lao People\u2019s Democratic Republic <\/span><\/li>\n
    17. Liberia <\/span><\/li>\n
    18. Libya<\/span><\/li>\n
    19. Myanmar (Burma)<\/span><\/li>\n
    20. Somalia <\/span><\/li>\n
    21. Sudan\u2010North<\/span><\/li>\n
    22. Sudan\u2010South<\/span><\/li>\n
    23. Syria<\/span><\/li>\n
    24. Uganda<\/span><\/li>\n
    25. Ukraine (Crimea) <\/span><\/li>\n
    26. Yemen<\/span>
      \n<\/span> \u00a0\u00a0 <\/span><\/li>\n<\/ol>\n

      Solution For Opening A<\/strong>n Offshore Bank Account From A Restricted Country<\/strong><\/h2>\n

      If you have a passport from one of these countries, you have no shot at getting a foreign bank account. Your best bet is to purchase <\/b>a second passport from a country like Dominica<\/a>. Then you can use that passport to open the account.<\/p>\n

      Another solution is to apply for residency in a foreign country<\/a> and use that to open a local bank account. For example, you can get residency in Panama<\/a> with an <\/span>investment <\/b>of $100,000. Once you have your visa, you can open a bank account at any number of banks. <\/span><\/p>\n

      The catch in the Panama program is that you must have a US or EU visa before you apply for residency from a restricted country. If you have a US visa, it\u2019s relatively easy to get residency in Panama. Without it, you will have a long and hard road. <\/span><\/p>\n

      The reason is simple: Panama figures the US did enough due diligence that they don\u2019t need to worry about you. Your US visa is your ticket to enter Panama\u2026 and that ticket, plus cash, can get you residency and a bank account. <\/span><\/p>\n

      Handpicked Related Content: How To Get A Second Passport By The End Of 2020<\/strong><\/em><\/a><\/p>\n

       <\/p>\n

      Conclusion<\/strong><\/h2>\n

      Here is<\/b> probably the most extensive ebook on <\/b>Everything You Ever Wanted To Know About Eliminating Your Taxes, Protecting Your Assets And Regaining Privacy Over Your Life And Investments<\/i><\/b>. It is called<\/b> The<\/b> Ultimate Guide To Going Offshore<\/b><\/a>. <\/b><\/span><\/p>\n

      I hope you enjoyed reading this article: <\/b>Opening An Offshore Bank Account From A Restricted Country<\/b>.<\/b><\/p>\n

      Is leaving your home country for a new country a priority of yours? Do you wish you knew how, but don’t? Then<\/b> here is a great article<\/b><\/a> for you to read. It can help you understand a little bit about Citizenship-By-Investment programs around the world. For more information on the CBI programs, please<\/b> contact our office HERE<\/b><\/a>.<\/b><\/p>\n

       <\/p>\n","protected":false},"excerpt":{"rendered":"

      Opening An Offshore Bank Account From A Restricted Country I got word yesterday from Belize that their corporate registrar won\u2019t accept clients from Russia any longer. That means anyone holding a Russian passport is prohibited from forming a company in Belize\u2026 \u00a0The same goes for bank accounts\u2026 no more Ruskies. When Belize blocks you, you\u2019re […]<\/p>\n","protected":false},"author":686,"featured_media":10210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9410,9409],"tags":[29,32,127,258,301,302,355,366,442],"yst_prominent_words":[1724,35273,35272,7536,2274,1712,35271,2129,1716,10921,3472,4911,2305,2318,2320,4132,4129,6029,14262,35270],"acf":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.escapeartist.com\/wp-content\/uploads\/2017\/02\/Offshore-Banking.jpg","_links":{"self":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/10621"}],"collection":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/users\/686"}],"replies":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/comments?post=10621"}],"version-history":[{"count":12,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/10621\/revisions"}],"predecessor-version":[{"id":43413,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/posts\/10621\/revisions\/43413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media\/10210"}],"wp:attachment":[{"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/media?parent=10621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/categories?post=10621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/tags?post=10621"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.escapeartist.com\/wp-json\/wp\/v2\/yst_prominent_words?post=10621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}