Quote: (01-10-2012 11:48 PM)TudoBem Wrote:
Quote: (01-06-2012 03:58 PM)Hencredible Casanova Wrote:
Ever try opening a bank account in Colombia? It could take forever if you're an American. I know one guy that took him 2 years, and he even needed a letter from his local congressman.
LOL. If it takes you more than two days to open a bank account in Latin America, then you really need to deepen your understanding of how the world works.
You need a cedula (Government ID) to open a bank account in Colombia as an American, which you can't get with a tourist visa (money laundering reasons). You need legal foreign residence to get one (easier said than done).
US Citizens could easily open bank accounts in Panama before, but the US Government recently passed a bogus law called FACTA in December that makes it harder now. Some banks in Panama have now stopped opening new bank accounts for Americans, while others have to go through a laborious process of reporting your info, including financial assets, to the US Government, and that costs those banks money (which is a cost passed onto you).
This is just one of many disappointing and overreaching Big Brother moves introduced under the Obama Administration.
Panama was one of the "escape moves" for consideration on my shortlist in the next few years. Now, I'm looking to set up shop elsewhere...
However, I know what you meant TudoBem. There's always a way of getting around rules in Latin America if you know the right people.