Home Caribbean and Vanuatu Places to AVOID for Offshore Banking

Places to AVOID for Offshore Banking

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There are certainly many places that offer offshore banking, some of them are very well known.
Some of them are marketed very aggressively and even promoted by lawyers and consultants.

However, be extremely careful. Not everything that shines is gold, and there are certainly some places where you SHOULD NEVER bank, no matter who recommends it.

Here is our list of places where you should never open an offshore bank account. At least not if you want your money to be safe and available to you.

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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.

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Author: Michael Rosmer

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  1. Just discovered your channel and this is a very informative video. What are your thoughts on banking in Puerto Rico? Heard lots of good thinks about banking there, they accept international companies from just about everywhere and also easy to set up?

  2. Thank you for your infos…
    Do you have any entity on online offshore banking thats repliable ?
    I live now in Panama… the only bank that send money here is Transferwise… but guess what they dont send money to crypto entities such as Coinbase…!

  3. Basically:

    St. Vincent
    British Virgin Island
    Cayman Islands
    North Macedonia

    "Generally speaking, just stay away from all that crap. It's… no good."


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    Description with keywords are the life blood of visibility to your videos. 1.1k views in 3 months at the time of this comment..

  5. You threw the carribeans out. How about if you have their passport let's say you obtain St Kitts or Barbuda and Antigua's citizenship and passport? Do you still not recommend opening up an offshore account there? Thanks.

  6. I guess that you target mostly American clientele. In case of US-persons FATCA is applicable. And therefore many banks refuse to open accounts for US-persons because of the hassle involved. For Europeans the country of Surinam might be interesting. However, I do not think that some kind of guarantee like FDIC is in place in Surinam. Also, there might be restrictions on transferring hard currency out of the country.

  7. Dear mr Rosmer, I would like to know more about financial services in Puerto Rico. What banks in Puerto Rich have FDIC-insurance? Thank you.

  8. Hey Michael. Thanks for a very informative lesson in countries with crap banking, that list was quite long. haha. What are your thoughts on company formation and banking in Isle of Man vs. Bulgaria where you live?

  9. Great content.
    I have heard maximum amount of credit you pull out of your Estonian digital nomadic company is 30,000 EUR per day. is this true? I mean pull out of the country.

  10. I appreciate your opinions about the different banks but it would be more useful to me if you'd support your thoughts on a bank instead of just telling us to forget about it for each one

  11. Man I’m from Iran and I’m in the process of researching where to form an offshore company and videos like these help so much for better decision making. Thank you for all the good content you are sharing 🙏🏻🙏🏻


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