FireMedic Posted November 23, 2014 Share Posted November 23, 2014 Hey everyone! I'm looking for an offshore account in Singapore or HK. I have two sources of income. First is my monthly retirement from the U.S. going to a U.S. bank. Second is my current salary paid in SGD from our office in Singapore. It gets transferred to my Bangkok Bank account every month. I would like both moved to one bank that is extremely private from prying eyes in the US. What bank would you suggest for transferring my retirement and currently salary to? I live here in Thailand, but my work is all of Asia Pacific. Link to comment Share on other sites More sharing options...
Naam Posted November 23, 2014 Share Posted November 23, 2014 unfortunately the bank you are looking for neither exists in Hong Kong nor in Singapore. Link to comment Share on other sites More sharing options...
FireMedic Posted November 23, 2014 Author Share Posted November 23, 2014 unfortunately the bank you are looking for neither exists in Hong Kong nor in Singapore Am I looking in the wrong country? Link to comment Share on other sites More sharing options...
Naam Posted November 23, 2014 Share Posted November 23, 2014 unfortunately the bank you are looking for neither exists in Hong Kong nor in Singapore Am I looking in the wrong country? your problem is not wrong country but wrong citizenship. banks in any country (few exceptions only) are generally refusing to open accounts for US citizens / US persons because of the hassles (mandatory detailed IRS reporting) attached. the era "private from prying eyes" is gone and won't return Link to comment Share on other sites More sharing options...
MANICMINER Posted November 23, 2014 Share Posted November 23, 2014 This is not specific to U.S citizens: Several years ago, you could open a HK bank account with just a passport, and even get a credit card thrown in. But now you usually require a HK id card and/or employment letter. It is easier for overseas people to open accounts in Singapore. With the HSBC, if you can open an account with them in your home country, you can then get a referral to open an account with them in an overseas country. Link to comment Share on other sites More sharing options...
Naam Posted November 23, 2014 Share Posted November 23, 2014 This is not specific to U.S citizens: Several years ago, you could open a HK bank account with just a passport, and even get a credit card thrown in. But now you usually require a HK id card and/or employment letter. It is easier for overseas people to open accounts in Singapore. With the HSBC, if you can open an account with them in your home country, you can then get a referral to open an account with them in an overseas country. With the HSBC, if you can open an account with them in your home country, you can then get a referral to open an account with them in an overseas country. brilliant idea! the OP will open an account with HSBC in his hometown Birmingham, Alabama or Duluth, Minnesota, get a referral to HSBC Singapore and that will meet the OP's demand "extremely private from prying eyes in the US". 1 Link to comment Share on other sites More sharing options...
ATF Posted November 23, 2014 Share Posted November 23, 2014 The only banks that may offer you some privacy are the major Chinese mainland banks such as ICBC etc. HSBC is always getting fined for fiscal irregularities. Link to comment Share on other sites More sharing options...
Pib Posted November 23, 2014 Share Posted November 23, 2014 I would like both moved to one bank that is extremely private from prying eyes in the US. Uncle Sam is looking for the same kind of bank used by American citizens. Link to comment Share on other sites More sharing options...
Loptr Posted November 23, 2014 Share Posted November 23, 2014 I would like both moved to one bank that is extremely private from prying eyes in the US. Ever hear of FATCA? Link to comment Share on other sites More sharing options...
wooloomooloo Posted November 23, 2014 Share Posted November 23, 2014 I would like both moved to one bank that is extremely private from prying eyes in the US. Ever hear of FATCA? I think the OP has, hence the question. Link to comment Share on other sites More sharing options...
thrilled Posted November 23, 2014 Share Posted November 23, 2014 If you are an American,your A duck out of water.If you have over $10,000 in any foreign bank The IRS is going to come down on You like gangbusters.FATCA is strong.Just about all countries are abiding to it.The banks will be heavily fined if they don't Inform the U.S. of your money.As long as you pay the taxes on the money you make you'll be ok. Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now