The Offshore Strategy Everyone SHOULD Use

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☎️ Book a call with Michael:
calendly.com/michael-rosmer?m...
One of the best advice we can give to people is to open multiple bank accounts! Having multiple bank accounts, Internationally (offshore bank accounts) will provide you with lots of freedom and flexibility.
It is a cheap insurance, in case anything happens with your current bank account!
Setting up an alternative bank account(s) can save you lots of headaches in case any of the banking risks happen. And there are many banking risks people are typically not aware of.
Institutional risks, client risks, government risks, political risks, to name a few.
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Introducing Michael Rosmer, the true modern-day Renaissance man and international entrepreneur, who has been mentored under top international tax attorneys.
He is widely regarded as the foremost international tax expert for legal cross-border tax planning, with extensive experience in immigration, residency, and second citizenship for those seeking a plan B, asset protection, global offshore banking, and payment processing.
Michael leads a team of lawyers and accountants who are top experts in their respective fields. This multi-lingual, multi-national team has worked with digital nomads, entrepreneurs, and investors from 62 countries, providing practical real-world multi-dimensional solutions for their clients.
At Offshore Citizen we understand that each individual's situation is unique. Unlike most industry service providers, we do not push any particular country or solution. Instead, we analyze your individual situation and custom-tailor the best countries and strategies for you, drawing on every part of the globe.
With Offshore Citizen, you can rest assured that you are in the hands of professionals who have your best interests at heart. Let us guide you through the complex world of international tax planning, immigration, residency, and second citizenship.
Contact Michael today for a personalized consultation and take the first step towards securing your financial future.
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Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships.
☎️ Book a call with Michael:
calendly.com/michael-rosmer?m...
🌎 Visit our website:
offshorecitizen.net

Опубликовано:

28 май 2024

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Комментарии : 94

@ChairWoodenFloor1 2 месяца назад

The problem with opening bank accounts as non-resident is that those banks will treat you poorly as a customer, like requiring high deposits, adding ridiculous fees just for non-residents (after the fact), or requiring you to appear in person to do something, and you can do nothing about it. For most people it is best to stick with a few different banks at their place of residence. I would only open an account abroad if I had a second residence / citizenship and could apply as a resident.

@BlackLabelExpat 2 месяца назад

I could not agree more. I also suggest having a on/off ramp to a digital non custoadial wallet just for stable coins. Not to hold long term but as a way to transfer value when geopolitics get in the way of markets

@samschutt2343 2 месяца назад

Could you suggest any?

@VERTICALWisdom 2 месяца назад

Great content - Thank you

@OffshoreCitizen 2 месяца назад

Always a pleasure! What are your thoughts on international banking?

@profbradleywilson Месяц назад

Michael, Which banks in jersey, channel islands, Lichtenstein and which brokerages might be recommended for the mirror of US wyoming llc for affiliate marketing, you tube, kindle direct publishing. SO normal income and royalties. Please do something (a vid) on royalties setups for us non residebts.

@jn3674 2 месяца назад

As a US citizen, doesn't simply opening a foreign account automatically trigger additional IRS reporting requirements in addition to possible additional tax filings on any earnings in that account as well? These would both mean either paying a tax professional to help you get it correct, or creating even more problems for yourself. If you have a legit need for an offshore acct, absolutely. But just for "fun" or cheap "insurance"? Pass. Not cheap or insurance in reality.

@mlgneo2855 2 месяца назад

Yes. And it also puts that custodial government into your business to tax you for money coming in. It’s an absolute NO from me, I’ll keep my money in America and use an ATM 🏧

@whenwasnow6062 2 месяца назад

If you're US citizen and manage to get an account as a non resident (congrats), you must tell the tax lords if they all reach 100k (rule has more nuance). So, as Michael says, it's an escape door of sorts.

@jimmccann3856 2 месяца назад

World Economic Forum risk affects almost all depositors. Blackrock, for example, has an ambition of systematically converting home owners into renters. Other billionaires are working different dispossession strategies to be applied versus the masses. We might ultimately see, for example, large scale Bail-Ins of depositors to cover widespread derivative losses. Any comments?

@lorenk.775 Месяц назад

😄😄 Just bcoz they may have certain ambitions doesn't mean they can achieve them how they want, and there are limits through laws and otherwise. and what do you mean by derivatives bail-in?

@Martin-ps9xn 2 месяца назад

With all those risks (not to mention banks freezing you just coz they can) what is your opinion on HNWI's putting their money in some of the bigger crypto defi protocols? If your money is truely decentralised and the risk spread, why not? It is 2024!

@emileriksen2481 2 месяца назад

What do you think about the various neo, or online, banks? Do they offer any of these benefits?

@OffshoreCitizen 2 месяца назад

Sure. We setup EMI accounts too

@gabrielchartrand1278 2 месяца назад

Out of curiosity, to ensure everything is legal before a setup of this magnitude is established. Is everything double checked with accountants and lawyers to ensure the “offshore citizen” is legal in their home country? ie: Canada?

@OffshoreCitizen 2 месяца назад

Absolutely

@jamesswan7695 2 месяца назад

As a Canadian resident, what documents or other info is required to open an account in Georgia? Recommended bank?

@OffshoreCitizen 2 месяца назад

Depends if you're looking to open a personal or a business account. Different banks will have different KYC processes

@qartheros 2 месяца назад

If I qualify for this new Thailand DTV visa coming out 1st June and live there, where would you recommend I move my tax residency/business registration to? So far, it looks like they don't want DTV holders to pay tax in Thailand. I'm currently self-employed UK paying about 25% of my profit in tax and NI.

@OffshoreCitizen 2 месяца назад

Lots to cover here. Depends on many details surrounding your circumstances. Best is to reach out

@tomoconnell2858 2 месяца назад

@@OffshoreCitizen Thailand’s new Destination Thailand Visa (DTV) hasn’t been finalized yet, but it’s supposed to be a 5 year visa allowing up to 180 days per stay. Hopefully, it won’t trigger reporting of income.

@patrickusereau992 2 месяца назад

Hey Michael! Fellow Canadian here. I was wondering what you think about opening an IBKR account in another country. The account offers up to 4.83% on USD with more than 10K. I already have one in Canada and was thinking of opening a 2nd one in another country. Your thoughts?

@parampalgill53 2 месяца назад

But how can you open as non resident of other country

@ChairWoodenFloor1 2 месяца назад

Will they allow you to have multiple accounts with different residence details? I don’t think so.

@davelawson2564 2 месяца назад

@@ChairWoodenFloor1 you can open NR account,. pay no tax on it, earn interest 3%+ in India. stable economy , stable banks. zero annual fees,

@jamesswan7695 2 месяца назад

Why not just open a IBKR bank account in Canada, transfer your brokerage money over to the new account, convert to USD and then start collecting the 4.8%? Or are you looking to become a none resident of Canada?

@sebastiangale9759 2 месяца назад

@@ChairWoodenFloor1 Yes they will, I have an IBKR account registered to Canada and another registered to Georgia. At the time at least they actually didn't let you migrate your account to a new country and told me to just open another account

@trenthansen68 2 месяца назад

Mauritius account?

@lina6325 2 месяца назад

Would you recommend a residence instead of a second citizenship for people with 6-7 figures?

@OffshoreCitizen 2 месяца назад

Depends on what your goals are

@Gismotronics 2 месяца назад

I would like a bank account in a country that doesn't tax foreign income and is crypto friendly. Would be great if residency not required. Any suggestions?

@OffshoreCitizen 2 месяца назад

You have to report your foreign accounts to your country of residence, so this is not a way to optimize your taxes. The taxes are not tied to a bank account, but your residence (unless you're a non-dom, which is a whole different story)

@burnastro9599 24 дня назад

Maerki Baumann bank, AMINA bank (Switzerland)

@TheEmperor000 2 месяца назад

If you get a bank account in the US (as a non-resident foreigner), aren't you risking getting into the US IRS tax net? Meaning that you would get all the issues that come with that?

@OffshoreCitizen 2 месяца назад

No, bank account has nothing to do with your tax residency

@henry155 2 месяца назад

Reporting Requirements: As a foreign account holder, you may be required to file certain forms with the IRS, such as Form 1042-S (Foreign Person's U.S. Source Income Subject to Withholding), which banks use to report interest paid to foreign persons.

@henry155 2 месяца назад

So I would say it is accurate to say it doesn't open the door for IRS...

@lorenk.775 Месяц назад

@@henry155 you mean to say it does open the door toward IRS.

@deltabravo21 2 месяца назад

Please describe current status of Vanuatu? Are Passport and banking ok?

@OffshoreCitizen 2 месяца назад

Banking is not recommended. The passport lost a lot of its value once they lost the access to the EU, there are definitely better ones on the market currently

@deltabravo21 2 месяца назад

@@OffshoreCitizen thanks Micheal, Is it jurisdiction risk or economic? reasoning was expediency, cost, near-shoring, (clarifying for Au folks), especially as it’s Refundable Gov bonds, happy just to access SEA Unlike big USD (lost) donation to Caribbean

@samuliceo 2 месяца назад

Did you move back to Sofia?

@OffshoreCitizen 2 месяца назад

No, just visiting

@mkishon 2 месяца назад

When I lived in South Korea, non-residents could not open accounts. Has this changed in the last 5 years?

@davelawson2564 2 месяца назад

you can open NR account,. pay no tax on it, earn interest 3%+ in India. stable economy , stable banks. zero annual fees,

@mkishon 2 месяца назад

@@davelawson2564 have u actually opened an NR account in SK? if so, with which bank?

@WEJIII Месяц назад

Cayman Islands?

@naima8392 22 дня назад

Good video, but slow down, you talk too fast.

@jamestewari-hh7et 2 месяца назад

I have an offshore account but would like to open one in Singapore.

@OffshoreCitizen 2 месяца назад

If you're able to visit in person, it's doable. Feel free to contact us for further details

@James-pr2lo Месяц назад

@@OffshoreCitizen, thanks will do, is Luxembourg a good destination to open an offshore account.

@James-pr2lo Месяц назад

@@OffshoreCitizen, thanks will do.

@rad0f 2 месяца назад

what about things like revolut? wise is horrible (personal experience)

@OffshoreCitizen 2 месяца назад

Yes, EMIs can be an option

@burnastro9599 24 дня назад

Airwallex

@magdagoris8793 2 месяца назад

How do i get hold of you?

@OffshoreCitizen 2 месяца назад

You can book a call, the link is in the description of the video OR you can send us an email through our website

@TheEmperor000 2 месяца назад

Also, I am not so sure if it is a good idea to get bank accounts in well known tax heaven jurisdictions (like Panama, Jersey, etc). It will just make you look shady even if you are clean. Maybe would be better to just setup bank accounts in less "flashy" countries (like Netherlands, Ireland, Uruguay, etc)?

@matthewnirenberg 2 месяца назад

In current times, simply having a bank account in another country makes you "shady" to govts and those who care. The truly shady people are the ones laundering billions by buying and selling art. That's how the "elites" launder money in the open whilst complying with AML/KYC.

@OffshoreCitizen 2 месяца назад

We mainly setup accounts in the countries mentioned in this video

@TheEmperor000 2 месяца назад

@@OffshoreCitizen Alright, but consider also providing them from other countries (non-tax heavens) ... just a tip ;)

@mkishon 2 месяца назад

You don't need a residence permit to open an account in the UAE. I opened one w/o it.

@OffshoreCitizen 2 месяца назад

Which bank?

@mkishon 2 месяца назад

@@OffshoreCitizen NBD and ADCB

@Farmnflyin 2 месяца назад

If you have enough money in the UAE this is true. But it still becomes a nightmare trying to get bank cards and credit cards…. Very few proportionally are wealthy enough to do this

@pak74x Месяц назад

@@OffshoreCitizenyou can get savings account in UAE with debit card. No current acc. and credit card but there s no difference at the end.

@ginorako2176 2 месяца назад

What if the country you come from doesn’t allow you to have second citizenship as is the case in the Netherlands, where i come from? No one is providing solutions to people from those countries that doesn’t allow that.

@lorenk.775 Месяц назад

The solutions have been provided, either change to a citizenship that allows dual citizenship or just get any foreign residency, whether temporary or permanent etc.

@pjuliano9000 Месяц назад

Get another citizenship and leave the netherlands

@PixPete 2 месяца назад

I'm surprised you didn't mention Cyprus for EU bank accounts. I know that might make some people nervous after what happened in 2013, but the flip side of that is it will never happen again. I'm going through the process of opening one there now.

@tiomoidofangle102 2 месяца назад

Never say never. If it happened once, it COULD happen again. Major red flag.

@PixPete 2 месяца назад

@@tiomoidofangle102 No, that will NEVER happen again in Cyprus. Lightning doesn’t strike in the same place twice and you only need to diversify your banking portfolio, as is point of this video.

@sibaroochi 2 месяца назад

I would just wait for it to happen a 2nd time, and THEN deposit money there. I'm pretty sure it wouldn't happen a third time.

@amarkmanpeters 2 месяца назад

I’m not so confident and I’ve lived here for two years

@davelawson2564 2 месяца назад

@@sibaroochi you can open NR account,. pay no tax on it, earn interest 3%+ in India. stable economy , stable banks. zero annual fees,

@internetceo 2 месяца назад

Bitcoin doesn't look so risky after all 🤣✌️.

@RoisineClara 2 месяца назад

Since I became so rich in cryptocurrency I realise that crypto is the future cuz I invested 10k and made up to 36k as weekly profit I appreciate the help of your channel 😊😊

@aleksey9213 2 месяца назад

You are right. I am russian and hate Putin. I"ve got account in EU. One day i got a massage withdraw my money in 15 days and my account was closed. What was the idea? Trasfer money back to russia?

@justingriffin2546 2 месяца назад

Go to Ukraine..

@lorenk.775 Месяц назад

The EU made a stupid rule, among many others.

@nadpul 2 месяца назад

Take the Lebanese banking system, it was stellar at all levels forever and in one night all people’s deposits disappeared…

@OffshoreCitizen 2 месяца назад

Unfortunately, there are many, many similar examples. Hence having backups is crucial

@lorenk.775 Месяц назад

Lebanese banking was ever stellar?! How could anyone ever have put such big trust on them considering the tumultuous history of the country and the always messy political situation?! Lebanon was no Malta!

@hrishikeshio 2 месяца назад

First 😊

@OffshoreCitizen 2 месяца назад

How did you like the video? :)

@1112-g1x 2 месяца назад

a lot of waffle get to the point mate, were not all swanning around in palatial apartments over looking central park.

@JoelSalazarM 2 месяца назад

Is this Nomad Capitalist's B channel?

@OffshoreCitizen 2 месяца назад

Whaaat? 😱

@J0HN_3_16 Месяц назад

Mr. Rosner's advice is far more sound because he focuses on what is practical and effective. The NC guy focuses on selling you a plan regardless of your needs or circumstances. This is the same 'plan' he sells everyone else.