Does anyone have a recommendation on a country that will allow a Thai juristic entity to open a bank account? This needs to be an account in the name of the Thai entity, not a subsidiary. Preferably a country that will allow this to be done without flying there in person.

 

This is for small value transactions. Very unlikely to exceed $100,000 USD per year.

 

I have been told Cypress will do this. Can anyone confirm this, or does anyone have another recommendation?

 

Thank you for any assistance.

I did the same with a bank of in Cyprus a few months ago. I used an agent in Cyprus to liaise on my Thai company's behalf. It took over a month to open as the company documents and director/shareholder document needed to be translated, apostilled & certified which required a bit of stuffing around. After the bank has approved the account opening they then have a compulsory Skype video call to confirm purpose of the account etc. with the directors.

very interesting topic. What would be the purpose of opening a bank account outside Thailand and what would be the difference if it is a company or personal account?

I would like to move money outside of thailand w ease and the ways I am using is costing me a little too much. I tried already to open an account in Spain, UK and Switzerland but they require I be a resident which was not possible. Portugal was a bit easier.

So Cyprus is the place to be?

Hong Kong and maybe Singapore

I have one in Singapore since I have some dealings there

Not hard to do

 

"What would be the purpose of opening a bank account outside Thailand "

 

One purpose would be "money laundering" money obtained illegally from criminal activity.

 

Criminals are stupid, 555?

1 hour ago, SiSePuede419 said:

"What would be the purpose of opening a bank account outside Thailand "

 

One purpose would be "money laundering" money obtained illegally from criminal activity.

 

Criminals are stupid, 555?

Nothing to do with laundry money, but everything to do with the problems of paying bills, donating money and my wife sending me money when I am not in Thailand. Have you ever been out of Thailand and needed the wife to send a large sum to you or someone else?  The banks squeak, squeak, squeak.

 

I hate George Soros.... He is the primary catalyst for these detriments to international business; although, I accept that many Thai money managers abused the laws as well in the late '90's.

When I lived and worked in Bangkok, I opened an account in HK with the Standard Chartered , I am now living in China, and the account is still active

Cyprus bank may not be the most reliable banks; neither would Greece.  Lots of forex brokers who are there will not deposit money there locally; they would use another EU bank or UK bank.  Estonia or Bulgaria may be a better option.