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Batty

Opening a bank account in Spore/HK/Vietnam?

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Why even Vietnam, it's like the most horrible place to have a bank account right after or in front of china??!

No one with a brain would store his money in a communist country without living there...

 

No foreign currencies allowed, tight capital controls, it's horrible.... why does OP want to go there.

 

Make one in Europe, or in one of the tons of other small states a la Jersey and co...

I don't know where you are from but if you give us more details on what the whole point of it is you get better replies OP, 

Singapore is used as it's a safe space, independent and very stable, it's like switzerland...

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On 9/25/2019 at 1:06 PM, Naam said:

that you possess a weath of no idea pertaining to bank accounts in Singapore and Hong Kong.

 

no offense meant Batty!

 

-opening a corporate account in SG and HK is much more complicated than a personal account.

 

-Singapore banks are high and mighty. most multinationals operating in SG are demanding an entry with assets valued at USD 5mio, very few accept the minimum suggested by the M.A.S. (Monetary Authority of Singapore) of USD 1.5mio for an accredited investor.

 

-easiest way to open an account (very recent status) is Standard Chartered Bank Retail (not Private!) Banking. requirement proof of tax residence by utility bill or immigration certificate.

 

it goes without saying that neither HK nor SG taxman is interested to steal any of your money.

 

 

So it is still easy in HK ?

What is needed please ? thanks.

 

 

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9 minutes ago, plfomylo said:

 

So it is still easy in HK ?

What is needed please ? thanks.

 

 

No HK isn't easy due to their past (money laundering scandals involving hsbc etc), it's also not a good place anymore due to china.

Especially getting a corporate account ther is a pain in the butt.

 

Singapore is more relaxed, as long as you have money and it's not shady.

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8 minutes ago, plfomylo said:

 

So it is still easy in HK ?

What is needed please ? thanks.

 

 

not that easy anymore, unless big amount of $$$$$ otherwise need to be resident which (easily) could  be accomplished by subscribing to a mobile phone service/contract, I did it in 2007

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19 hours ago, ThomasThBKK said:

This is not true, what they do not accept is people LIVING in europe aka European TAX RESIDENTS. Due the new reporting requirements, that are the same as FATCA in the US.

If you LIVE in Thailand and you are Thai tax resident with a european passport, there is no such restriction.

OCBC, UOB, Citibank etc are all not an issue, as long as you have their minimum deposit amount, citibank gold is 200k USD min deposit.

 

UOB is less, and UOB thailand is a good alternative, they also have USD bank accounts - no need to go to singapore.

 

Taxation has absolutely nothing to do with bank location OP, it depends on your tax residence and where the money is earned...

by any chance do you bank with CITIBank in Singapore or any here do?

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As mentioned previously Llyods international is one of the easier offshore acc's to open....one i have, you need 3500 USD at all times or you have to pay a high monthly fee..

 

If you want in Asia... why not Thailand ?🤔

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1 hour ago, Mavideol said:

by any chance do you bank with CITIBank in Singapore or any here do?

Yeah i do but i find them quite frankly annoying, always trying to sell you stuff - i am not interested in investing in their Chinese mutual funds that lose 20% of money per year.

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1 hour ago, ThomasThBKK said:

Yeah i do but i find them quite frankly annoying, always trying to sell you stuff - i am not interested in investing in their Chinese mutual funds that lose 20% of money per year.

am having similar problems with their time deposit rates and terms & conditions, long time ago stopped with funds, too much stress and at my age better play safe, do they give you hard time as well, I use them and also use DBS which is very conservative

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for what's my experience , there is zero chance to open a bank account in each of those three places.

I suggest trying Advanced Bank of Asia in Phnom Pehn.

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I opened an account with UOB Singapore. I am a Brit living in Thailand. The only hassle was persuading a bank in Thailand to write a letter confirming my address.

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