What Next? The Road After Trump

aynrus

Kingfisher
That’s a really good point. What is the option? Off shore banking?

Should we be looking to move our money to offshore bank accounts?

My concern at this point is that to fund the green new deal the feds will just declare all trump voters “terrorists” and use the patriot act to seize all our bank accounts.
The question is where the funds would be safe...hard to find a safe location (I mean safe from economic/currency risks and which would be insured).

I guess spread them around different brokers for now and keep monitoring the situation?
 
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SlickyBoy

Hummingbird
Should we be looking to move our money to offshore bank accounts?

My concern at this point is that to fund the green new deal the feds will just declare all trump voters “terrorists” and use the patriot act to seize all our bank accounts.
You would still be required to report such accounts if they held over $10k, but they could not force you to get rid of them. If you had one that let you use an ATM card in the US, that could come in handy. Absent proof of some crime and a court judgment it would be unusual for a foreign country to freeze the account just because your political views are unpopular. But choose carefully - consider both the country and the currency you have in that bank.
 

aynrus

Kingfisher
You would still be required to report such accounts if they held over $10k, but they could not force you to get rid of them. If you had one that let you use an ATM card in the US, that could come in handy. Absent proof of some crime and a court judgment it would be unusual for a foreign country to freeze the account just because your political views are unpopular. But choose carefully - consider both the country and the currency you have in that bank.
There's real war on off-shores right now. Hard to open a bank account anywhere if you're not a legal resident, and even harder for American as foreign banks often don't want to deal with Americans anymore s (even as local residents) after FATCA imposed burdens.
Anyway, any foreign bank carries heavy reporting requirements on Americans' accounts (to the Uncle Sam).
 

Coja Petrus Uscan

Hummingbird
Gold Member
Should we be looking to move our money to offshore bank accounts?

My concern at this point is that to fund the green new deal the feds will just declare all trump voters “terrorists” and use the patriot act to seize all our bank accounts.

As an American it's not really an option. You can open some offshore accounts, but The IRS will likely know about them immediately. You will find The US is on most offshore banks instant reject list, along with North Korea and Iran. Offshore is coming to an end via globalist controls, see this:


And that thread in general.

For US citizens offshoring will require elaborate setup and constant attention from a professional. I would stay away.

As a US citizen your choice would be getting into crypto.

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On another note, my business audience is 50%+ from The US and mostly Western. I have wanted to change this for some time as I don't see it as particularly wise. So I have slowly been working towards having a global audience. The global audience is generally worth less, but it is a redundancy.

I have repackaged my offering for Russia and within a month am making enough to live on the outskirts of Moscow. I will be prioritising upscaling to other countries.

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On the general theme of the thread, after having some time to process recent events, I believe we need to hold in, dig deep and prepare for decades of onslaught. The mainstream system doesn't work. The model is stuff young people into cities and have them forego family, property ownership, a pension, savings etc. for a grubby, soy-based existence. We need to stay out of this system and their other systems, have children and wait until this system has destroyed itself.
 

Feyoder

Kingfisher
As an American it's not really an option. You can open some offshore accounts, but The IRS will likely know about them immediately. You will find The US is on most offshore banks instant reject list, along with North Korea and Iran. Offshore is coming to an end via globalist controls, see this:


And that thread in general.

For US citizens offshoring will require elaborate setup and constant attention from a professional. I would stay away.

As a US citizen your choice would be getting into crypto.

****************************************************************

On another note, my business audience is 50%+ from The US and mostly Western. I have wanted to change this for some time as I don't see it as particularly wise. So I have slowly been working towards having a global audience. The global audience is generally worth less, but it is a redundancy.

I have repackaged my offering for Russia and within a month am making enough to live on the outskirts of Moscow. I will be prioritising upscaling to other countries.

****************************************************************

On the general theme of the thread, after having some time to process recent events, I believe we need to hold in, dig deep and prepare for decades of onslaught. The mainstream system doesn't work. The model is stuff young people into cities and have them forego family, property ownership, a pension, savings etc. for a grubby, soy-based existence. We need to stay out of this system and their other systems, have children and wait until this system has destroyed itself.

In the last few days I've become convinced that the future is crypto.
 

aynrus

Kingfisher
If you get overseas citizenship or legal residency you can open accounts there. Some banks and brokers will reject you as an American, but not all. However, funds won't be safe in most countries, due to instability and small insurance coverage/risk of that insurance not being paid out.
 

Troller

Pelican
Most europeans countries are easy to open a bank account. Just contact a real estate broker and tell him you want to buy a house. And if he can recommend you some bank agencies to open account. Use national banks. With that said. I don´t have any foreign bank accounts. Offshore or whatever. It´s too much headaches. Not worth the risk. The probably easiest solution is just passing funds to a family member you trust. And use their account as proxies.
 

aynrus

Kingfisher
Most europeans countries are easy to open a bank account. Just contact a real estate broker and tell him you want to buy a house. And if he can recommend you some bank agencies to open account. Use national banks. With that said. I don´t have any foreign bank accounts. Offshore or whatever. It´s too much headaches. Not worth the risk. The probably easiest solution is just passing funds to a family member. And use their account as proxies.
You'd need a local address as a minimum, and be able to prove it, such as show utility bills or a statement with this address. Right now no one is opening accounts without local physical presence/address, and especially to Americans.
 

aynrus

Kingfisher
Americans are legally required to report all their accounts outside the US on an annual basis and failure to do so can result in draconian penalties.
Right, as soon as the total/sum of all accounts exceeds 10K.

Inside the US, I think it's good to move funds into a limited liability company, a chain of a couple of companies is actually better. Say, LLC owned by another LLC. Commies will probably be looking to steal assets via various ways now.
 
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Troller

Pelican
You'd need a local address as a minimum, and be able to prove it, such as show utility bills or a statement with this address. Right now no one is opening accounts without local physical presence/address, and especially to Americans.
Nope. You don´t need a physical adress. Everything can be done online. Your adress in US is enough. Proof of income might be required. But it will depend on who recommended you to the bank. Since you can say you live off assets. What you might need is a local tax number. Depending on the bank. Banks are groceries stores that sell money. Don´t give them more credit than they are worth. They´re whores.

Africans use promissory agreements as a support document to open bank accounts. They will give a small downpayment. Sign the agreement. And use it to open a bank account in Europe.

Americans it will depend on the bank. Probably see ownership of bank. Some banks dislike blacks. If your opening a company even locally and it has the name of an offshore country. It´s automatically blocked. Real estate brokers are always up to date on that matter. When a real estate broker is promoting a house I always ask what is the best bank for financing. They always know. Always.
 

aynrus

Kingfisher
Nope. You don´t need a physical adress. Everything can be done online. Your adress in US is enough. Proof of income might be required. But it will depend on who recommended you to the bank. What you might need is a local tax number. Depending on the bank. Banks are groceries stores that sell money. Don´t give them more credit than they are worth. They´re whores.

France actually it´s a bank from an insurance company. Spain you can get NIE online.

Africans use promissory agreements as a support document to open bank accounts. They will give a small downpayment. Sign the agreement. And use it to open a bank account in Europe.

Americans it will depend on the bank. Probably see ownership of bank. Some banks dislike blacks. If your opening a company even locally and it has the name of an offshore country. It´s automatically blocked. Real estate brokers are always up to date on that matter. When a real estate broker is promoting a house I always ask what is the best bank for financing. They always know. Always.
All people I know who moved to Europe could not open an account (recent years, it used to be very different years ago) without physical visit and showing a proof of address, and often it was hard even being there with an address, until they got residency permit or long term visa. And these are not even Americans, for Americans it's FATCA that makes banks not want to deal with them.
And how do you get local tax number without residency?
Can you give an example/link of bank that actually opens an account online for Americans without presence and proof of address?
 

aynrus

Kingfisher
Regarding Spanish NIE (foreigner tax id) seems like opening online is not allowed, official info - says it's in person only or using special representative and you have to show justifications for ties with Spain:

Consequently, foreigners having a relation with Spain for economic, professional or social interests may personally apply for an N.I.E. at the Directorate-General of the Police, either directly or through Spain's Consular Posts abroad.
Applications must be submitted at the Consular Post of the district in which the foreigner resides, either personally or through a duly accredited representative, and the application must be accompanied by a copy of the biographical page of the passport containing the holder's information (EU citizens can provide a copy of their identity card), and by proof of the economic, professional or social interests justifying the application.

A lot of things changed lately, banks really clamped down on non-resident/foreigner accounts.
 

Troller

Pelican
You can get NIE without setting foot in Spain. Everything done by embassy.

Each country has different regulations. Unless your not in an unnoficial black list. Or related/associated to a political person the process is simple.
Normally some banks might require for documents to be notarized by the embassy and foreign affaires of the country of origin.
It´s not the name of the bank only. But the officer from the bank. You can go to two separate banking agencies of the same bank and get different answers. A guy who worked for me his father was a banker. One of his father colleagues approved all loans because he would give kickbacks to the loan officer.
 

aynrus

Kingfisher
I thought you said they were opening online? (you can't go to a bank officer online).
Anyway, multiple people I talked to about it who moved to Europe found they either needed a local person to go with them to the bank to vouch for them and/or proof of address and actually living in the country.
On overseas non-English language forums there're whole discussions on that, that banks made it very hard now.
Basically, you have to be there in person, find a right employee who'd agree to work with you or just have all the papers they want. In some countries it's only one bank that works with foreigners and they require all kinds of documentation, in person.
 

aynrus

Kingfisher
There's e-residency program in Estonia (which is part of EU), which allows to open a business bank account there, my understanding. https://e-resident.gov.ee/
I want to look into it, don't know many details yet. However this requires Estonia business address maintainer, which runs 30-150 euro/month.

One of the problems for expat Americans had been banks/brokers just shutting down their accounts out of the blue, because of FATCA. So even if you open an account, have to assume this can happen any moment, especially if you don't actually live there. I also know of someone non-American who just had their accounts in Europe unexplicably closed, probably because banks figured out he didn't live at provided address. I'm a US citizen with address and good credit, but even here I have real trouble with US online bank account opening, with 3 out of 4 rejections (brokers seem to be more benign)
 
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