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Different countries have different regulations, but most require that you be a citizen and have a residence.
I think there are some exceptions, like Switzerland and the Caymans.
You also need to get with an international tax lawyer so you don’t run afoul there.
Does anyone know for sure if Neteller will send the money to a foreign bank account? I would hate to go through all of that trouble and not actually get the money out of Neteller.
I think in Europe they will send it if you prove that you have a residence and bank account in that country.
These things can vary from place to place I think.
Hi all,
I’m not certain but I think Switzerland won’t accept US residents as banking customers.
There are banks in the Channel Islands that will, and you can do it remotely if anyone is interested let me know and I can forward you the details.
We’ll have a speaker in Atlantis addressing this.
Thats great news if I could do it remotley I am interested in the details for doing this pearlgaming. PM please
I sent you a PM, I need your email address so that I can forward you all the docs and application forms.
http://www.offshore.hsbc.com/1/2/
you can do the whole process remotely. my account is setup in GBP though, since party was having major troubles making wires to the US. when they wire in USD it must go through US banks before it gets to its destination, hence the need for a GBP or non USD account.
dont forget that if you are a US citizen and register an offshore bank account, you must report it to the IRS, there is some special form to do so, i dont remember what its called, thats what i hired an accountant for.
Thanks everyone I am actually planning on doing this. Does Neteller have a problem paying out to a US resident with just a GBP international bank account? Or will I actually have to give them some form of address not in the US?
Thanks, Jason
rogerlodge wrote:dont forget that if you are a US citizen and register an offshore bank account, you must report it to the IRS, there is some special form to do so, i dont remember what its called, thats what i hired an accountant for.I thought foreign accounts only had to be reported to the Treasure of they had more than $10,000 in them at any time. Am I wrong about this?
No problems with UK Banks, but you`ll need UK adress + confirmation (phone bill for example) and apply for Online Banking. You need someone you trust in the UK.
stocktrader wrote:I thought foreign accounts only had to be reported to the Treasure of they had more than $10,000 in them at any time. Am I wrong about this?not sure about the 10k mark, my accounts have in excess of that. i have been using hsbc for a few months now, and it is working great, besides the steep wire fee. anyone else get setup with them? super easy, no travelling, no fake adresses, just a US citizen who does business with foreign companies and needs a bank account close to them….
Rogerlodge, could you tell me:
1. what the fees are for wires?
2. if there are currency exchange fees to change it into us dollars?
3. If there was any special information required at sign-up? (anything other than address/phone number and the like)
thanks
