Opening a foreign bank account

[good2cu]

I saw this thread came up a few weeks ago but I didn't see any answers.

I’m a US citizen looking to open a foreign bank account. What options do I have?

Am I able to open a Canadian bank account if I supply a Canadian address even if I am US citizen? How hard would be to attain dual citizenship if necessary?

If I was able to open a Canadian bank account could I do eft withdraws from my pokersties/neteller into this account if I never intended to wire it to a US Bank?


Anyone who has done this please let me know.

*

Edit/MH: See other thread.

[lacky]

donno much, but i would think swiss, caribian etc is more what your looking for than canadain.

[Slider]

Not a bad idea at all. I wanted to go to Prague anyways - Switzerland here I can.

[Kriber13]

I'm not sure if US citizens will have a harder time but as a european it's possible. The bank i choose has a 50k minimum balance requirement and some paperwork is needed.

Good luck, Kristoffer

[pineapple888]

Dude, use the handy scroll bar to find the other thread entitled "foreign bank account".

[TheMetetron]

Does anyone who ever answers these threads besides me ever have any actual experience opening an offshore bank account for poker use?*

And lol at saying "How hard would be to attain dual citizenship if necessary?". Are you serious? They come as goodies inside your box of Captain Crunch. Just buy a box.


*Sorry, that was mostly directed at the responses in the other thread, but I decided to respond here instead so I did a copy/paste.

[TheMetetron]

Okay, seriously. You want a Swiss, Isle of Man, Panama, Cayman Islands, etc account. Not a Canadian one. Expect a $15-50k minimum deposit and expect to use the account for mostly savings, not as a checking account. There are fees for a Maestro Card, Visa Card, ATM withdrawals, account maintenance, wire transfers, etc. Some of these things you are used to getting for free in the USA, but you will have to pay for offshore.

Also, as an American citizen it is a bit harder to get an account, especially in Switzerland. A lot of banks refuse to do business with US citizens for various reasons (a lot of it to do with the massive amount of things the USA makes them do to not get screwed over). You are going to report you account to the USA via a W-9. There is pretty much no way around that without setting up multiple shell corporations, which is obviously illegal.

[joeker]

why not canada?

[TheMetetron]

[ QUOTE ]
why not canada?

[/ QUOTE ]

Because Canada will do anything the US government asks them to, especially regarding US citizens? Canadian banks aren't used by people with offshore needs for a reason.

[Yakuman]

[ QUOTE ]
[ QUOTE ]
why not canada?

[/ QUOTE ]

Because Canada will do anything the US government asks them to, especially regarding US citizens? Canadian banks aren't used by people with offshore needs for a reason.

[/ QUOTE ]

This is just about getting onto poker sites, not violating tax regulations. Nothing illegal going on.