Opening Swiss/Hong Kong/Singaporean offshore account in BKK?

[Orkki]

Are there any foreign bank offices in BKK whom will open an offshore bank accounts?

So far i've had my pension rerouted to Thai bank, but trust in 'em banks ain't too high these days. I would prefer Swiss/Hong Kong or Singaporean private savings account with an ATM card + internet access. I'm living about 6-7 month in Thailand and rest of them in Sweden and Spain.

All the help appreciated.

[Orkki]

Funny,

One solution shined right below my post. ipb.citibank.com.sg/Open_Now -commercial.

Seems like the account can be opened without actual visit. Gonna have to investigate more about that bank.

[crazykopite]

I opened an offshore HSBC account in Singapore a few years back with no problems

[UTH001]

Forget a Swiss off-short bank account real quick, unless you place at least US$5 Mio. And even then, fairly unlikely they accept you as a new customer...

[Naam]

after Jesus read the thread "offshore account" in Thaivisa he turned around, cried bitterly and asked "Father, what sin did i commit that i am forced to walk among these people?"

[Barin]

I opened an offshore HSBC account in Singapore a few years back with no problems

Normally Singaporean banks will not open accounts to foreigners unless you have PR (Permanent Resident) status or at least a WP (Work Permit).

When I opened my HSBC account in Singapore way back in 2006 I was requested to produce my Work Permit.

[vision2014]

It may be simpler if you are just looking to have a straight forward bank account but I ran into a problem because I was what is called a "private banking client". That is merely a fancy term for a client who uses the bank to execute equity and bond trades on my behalf. Consequently my comments may not be applicable yo you but I thought I would share my experience in the event it may be of assistance.

I have resided in Thailand for the past 3 years (I have a retirement visa). My primary bank for the past 15 years has been HSBC in Singapore. Five months ago HSBC notified me in writing my bank account would be closed in 90 days. Their explanation is a bit complicated but in summary HSBC's global risk management strategy has changed dramatically since their convictions in the U.S. and European courts.

My HSBC advisor recommended I deal with a Singapore based bank rather than a subsidiary of a global financial institution. Evidently, Singaporean banks are not the target (at least not yet) of the U.S. and European regulatory agencies. I met with UOB, Bank of Singapore and DBS. I selected DBS based on the quality of their equity and bond advisory services.

PM me if you would like more details.

[Robert24]

not an offshore account, but UOB have retail branches in Thailand and you can open an account with them.

If you want a real offshore account, you will have to go to Singapore an open account there. But not sure what the benefit of that would be vs opening an account with UOB in Thailand.

[Naam]

I opened an offshore HSBC account in Singapore a few years back with no problems

Normally Singaporean banks will not open accounts to foreigners unless you have PR (Permanent Resident) status or at least a WP (Work Permit).

When I opened my HSBC account in Singapore way back in 2006 I was requested to produce my Work Permit.

incorrect information. if the foreigner satisfies FATCA and KYC criteria there are no problems open an account in Singapore provided the foreigner's assets are not "peanuts".

by the way, entry levels asked by multinational banks in Singapore are assets valued 7-digits (decimal digits not counted)

[Naam]

not an offshore account, but UOB have retail branches in Thailand and you can open an account with them.

If you want a real offshore account, you will have to go to Singapore an open account there. But not sure what the benefit of that would be vs opening an account with UOB in Thailand.

actually "offshore accounts" are nowadays a myth but still basis of anachronistic fairy tales Robert. any account which is not located in the beneficiary's residential jurisdiction who's assets or proceeds are not liable for income tax is an offshore account.

my accounts in Germany are as "offshore" as my accounts in Singapore because i am a German citizen "residing" in Thailand.

[Naam]

It may be simpler if you are just looking to have a straight forward bank account but I ran into a problem because I was what is called a "private banking client". That is merely a fancy term for a client who uses the bank to execute equity and bond trades on my behalf. Consequently my comments may not be applicable yo you but I thought I would share my experience in the event it may be of assistance.

I have resided in Thailand for the past 3 years (I have a retirement visa). My primary bank for the past 15 years has been HSBC in Singapore. Five months ago HSBC notified me in writing my bank account would be closed in 90 days. Their explanation is a bit complicated but in summary HSBC's global risk management strategy has changed dramatically since their convictions in the U.S. and European courts.

My HSBC advisor recommended I deal with a Singapore based bank rather than a subsidiary of a global financial institution. Evidently, Singaporean banks are not the target (at least not yet) of the U.S. and European regulatory agencies. I met with UOB, Bank of Singapore and DBS. I selected DBS based on the quality of their equity and bond advisory services.

PM me if you would like more details.

the problem with "normal" Singapore banks such as UOB and DBS is that you are extremely limited as far as the purchasing/holding of high yield/high risk assets is concerned. these restrictions even apply to clients who meet the requirements of the Monetary Authority of Singapore and qualify as an "accredited investor". clients have to grind their teeth and are limited to investment grade assets (exception stocks/shares).

note: all Singapore banks are subject and have to comply with OECD, FATCA and KYC regulations. no exceptions!

[Robert24]

Forget a Swiss off-short bank account real quick, unless you place at least US$5 Mio. And even then, fairly unlikely they accept you as a new customer...

Most Swiss private banks will accept you if you have $5m+ and you can prove the money is taxed and legal...

[UTH001]

Forget a Swiss off-short bank account real quick, unless you place at least US$5 Mio. And even then, fairly unlikely they accept you as a new customer...

Most Swiss private banks will accept you if you have $5m+ and you can prove the money is taxed and legal...

If you are a US citizen, they won't touch your money, believe me! Big hesitation by most Swiss banks these days to open bank accounts by non Swiss residents... And that applies to Swiss citizens living as well!

[MobileContent]

I opened an offshore HSBC account in Singapore a few years back with no problems

Normally Singaporean banks will not open accounts to foreigners unless you have PR (Permanent Resident) status or at least a WP (Work Permit).

When I opened my HSBC account in Singapore way back in 2006 I was requested to produce my Work Permit.

Last year I wanted to open an account with UOB and they said they can't. Was passed on to the Relation Manager and they asked me how much deposit I would like to make so I said 10,000 S$ in cash and my account was opened. I repeated the same with OCBC and they opened it with just 1000 S$. Both bank however send a SWIFt message to Krungsri in Thailand Deutsche Bank in Germany to confirm that I am in good standing. It's easy to open in Singapore but dress well.

[MobileContent]

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Using Google Translate for your website is an indicator that you are a fly by night operation.

[meltingpot2015]

remote private banking offshore account easy www.snsco.net 66600035954 free advice

Oh!, jesus. Our lord. Let me wire the money right now.

What about opening an account in Heaven. Could you send me the website address and phone number. Please...we cannot visit as we cannot walk on water.

Alleluia! Alleluia! Praise the Lord!

Edited May 16, 2015 by meltingpot2015

[rwdrwdrwd]

I opened a Citibank Singapore IPB offshore account last year, it was easy and I did not have to visit Singapore. I've never been there.

Whole thing was done online and via couriering over a few documents. Need 5,000 USD opening deposit. The whole thing took a month from initial application to receipt of ATM card, cheque books in multiple currencies and online banking password device. Also got brokerage services.

Edited May 16, 2015 by rwdrwdrwd

[Suradit69]

So far i've had my pension rerouted to Thai bank, but trust in 'em banks ain't too high these days.

Based on what? Certainly less likely to commit fraud or go belly-up than European or US banks. Mostly a case of the bank employees's complexion??

http://www.thaivisa.com/forum/topic/825184-brit-who-allegedly-fled-to-thailand-with-96000-pounds-stolen-cash-appears-in-uk-court/

http://www.theguardian.com/commentisfree/2012/jun/30/vince-cable-banking-scandal-coalition

https://rwer.wordpress.com/2013/03/23/deutsche-bank-fifty-shades-of-fraud/

http://www.cardiff.ac.uk/socsi/resources/ACPO%20final%20nature%20extent%20and%20economic%20impact%20of%20fraud.pdf

[meltingpot2015]

remote private banking offshore account easy www.snsco.net 66600035954 free advice

Using Google Translate for your website is an indicator that you are a fly by night operation.

@Jesus: Oh, lord almighty. May you continue to turn water in to wine. and bread in to faccacio.

Oh, lord, The chosen one. may you continue to appear in videos like the one below with madonna.

https://www.youtube.com/watch?v=rDnUIXF2ly8

May madonna continue to do (videos with) you, as you continue to do (videos with) her.

May phil collins continue to sing your praises, as you (dis)-continue to sing his praises.

Praise the lord!.

p.s. Just about to wire the money oh holy one. Let your angels know to expect a moneygram from downstairs. Okay?.

[wooloomooloo]

remote private banking offshore account easy www.snsco.net 66600035954 free advice

Using Google Translate for your website is an indicator that you are a fly by night operation.

Don't be so quick to mock. I can't get hold of Rusty Neal through his website right now, but I haven't given up and expect that he's a busy man.

http://www.snsco.net/contact/

I'm going to contact Rusty via Twitter and certain of a reply.

He's got Bloomberg running on an iMac mini and he's got a global reach I'll have you know.

Don't worry, Rodney. This time next year, we'll be millionaires!

https://twitter.com/snsco/media

[jomcondo]

Blackjesus wants to look after your money....haha

https://mobile.twitter.com/snsco/status/534915676368941056/photo/1

[peergin]

-

Edited May 16, 2015 by peergin

[peergin]

 

It may be simpler if you are just looking to have a straight forward bank account but I ran into a problem because I was what is called a "private banking client". That is merely a fancy term for a client who uses the bank to execute equity and bond trades on my behalf. Consequently my comments may not be applicable yo you but I thought I would share my experience in the event it may be of assistance.

I have resided in Thailand for the past 3 years (I have a retirement visa). My primary bank for the past 15 years has been HSBC in Singapore. Five months ago HSBC notified me in writing my bank account would be closed in 90 days. Their explanation is a bit complicated but in summary HSBC's global risk management strategy has changed dramatically since their convictions in the U.S. and European courts.

My HSBC advisor recommended I deal with a Singapore based bank rather than a subsidiary of a global financial institution. Evidently, Singaporean banks are not the target (at least not yet) of the U.S. and European regulatory agencies. I met with UOB, Bank of Singapore and DBS. I selected DBS based on the quality of their equity and bond advisory services.

PM me if you would like more details.

 

[peergin]

You are lucky that HSBC Singapore notified you. In my case HSBC USA closed my account silently and secretly, took my money and has been refusing for a whole year to pay it back to me... I don't trust HSBC anymore.

Edited May 16, 2015 by peergin

[mokwit]

I opened a Citibank Singapore IPB offshore account last year, it was easy and I did not have to visit Singapore. I've never been there.

Whole thing was done online and via couriering over a few documents. Need 5,000 USD opening deposit. The whole thing took a month from initial application to receipt of ATM card, cheque books in multiple currencies and online banking password device. Also got brokerage services.

rwdrwdrwd - what documents did they require? Was it necessary to courier over passport original or copy OK?

[rwdrwdrwd]

I opened a Citibank Singapore IPB offshore account last year, it was easy and I did not have to visit Singapore. I've never been there.

Whole thing was done online and via couriering over a few documents. Need 5,000 USD opening deposit. The whole thing took a month from initial application to receipt of ATM card, cheque books in multiple currencies and online banking password device. Also got brokerage services.

rwdrwdrwd - what documents did they require? Was it necessary to courier over passport original or copy OK?

In terms of physical documents, this is the exact list:

1. Signed photocopies of passport photo page, signature page, barcode and stamp page of last country entry for the country you are currently in

2. A signed copy of valid national ID, driver license or credit card copy (I supplied UK credit card copy)

3. Mailing Address proof – This may be your latest utility bills or latest bank statement with your name displayed in full. (I supplied TOT bill with address in Thai)

4. Completed Account Opening Form, W-8 BEN Form, Brokerage and RWS, CAR Declaration Form

None of the documents required certification / signing by a lawyer/doctor/embassy, and did not have to send original passport

Upon receipt and during processing they did ask for proof of my verbal statements regarding the origin of income, and I was required to email over some backup evidence. In my case this was a certificate of incorporation for a company (non Thai) that I own and receive dividends from, but for the OP this would be pension documentation.

Edited May 17, 2015 by rwdrwdrwd

[Orkki]

Updates: Swiss bank UBS will open account easily, just have to visit them office in BKK. Also Citibank Singapore are sending me the documents, no need to visit them.

[Robert24]

@orkki: what is the threshold for opening an account with UBS Singapore? $1m?

[chilli42]

I have an account with Citibank locally in BKK - THB and USD. This account is linked directly to all my other Citibank accounts globally (eg US, Singapore).

Believe it was mentioned that many banks are changing how they manage these types of accounts. Mainly this is driven by IRS and Homeland Security in the US who have used their successful legal actions against HSBC and others to demand banking details on US citizens and those that have US earned income. If you are not in this place then Citibank is a good option. At least their customer service attempts to be helpful whereas HSBC is a nightmare.

[NeverSure]

You are lucky that HSBC Singapore notified you. In my case HSBC USA closed my account silently and secretly, took my money and has been refusing for a whole year to pay it back to me... I don't trust HSBC anymore.

Have you contacted that state's banking commissioner and also the FDIC? If you are legitimately owed money they'll get it in a heartbeat. They have the ability to level fines and even to close the bank. They'll get attention that you won't.