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Are you a US citizen? If you are, you have to consider your own vulnerability.
Internation finance has lots of pitfalls, and amateurs are fair game for all kinds of conmen, and ripoffs.
That’s not to say it can’t be your true calling, but it would have to be a 100% committment, and not a parttime endeavor, as a backup plan. If it were that easy, it wouldn’t be so hard to do…lol
You have to know people in the industry, and have an extensive network of contacts, both inside the banking industry itself, and in the larger world of finance, not to mention, having the “insider” vocabulary and knowledge to go with it. It’s not a “quickie” proposition. You need to have the knowledge yourself, and not rely on someone else’s knowledge when you’re the one signing the paperwork. “I didn’t know…” won’t cut it.
I have a degree in Banking and Finance, and I don’t even work in that field. I’ve only done a summer internship in a bank, and know it’s not a simple thing to do what you are proposing.
But, if you’re going to step out in that direction, do it right.:wavey:
I have over 20 years experience , 6 of those with a major bank. I wouldnt take on the responibility of getting bank accounts for US citizens in other countries , the legal issues are too gray right now . To hide my own money I would do it In a heart beat but there are too many scammers online.I would only recommend making a trip and dealing in person with the banks. Plan on making a couple trips a year to that country to visit your banker.
on the other hand,
when ure not a us citizen…
life is ful lof risks…We’ll see a lot of offshore options for US residents in the future.
Nothing illegal.
There’s not power on the earth to put limits on what a US citizen can do with offshore funds.
And gambling is legal, provided there are not involved US financial institutions.On the Panama Offshore.
If you have not experience in the offshore world, Panama has a complex legislation (Panama foundation) which is used to hide all kind of legal and illegal activities.
Besides a professional advice, by all means you should avoid to wear hats like director, etc.
Not teaching business, but a first offshore experience with an own bank is like run a Formula one without drive license
