[SelfPaid]

Hi Roosh V Members.

Like I posted in my Last Thread (Why buying Gold and silver now is a bad Idea) I want to open a Honkong Bank account next year in order to hold some US Dollars aswell ase other currencies in a Safe enviroment outside the US and Europe.

I allready have a Swiss Account that is beeing managed very Good, but I want to have another Base in Asia when it comes to Finances and aswell leave my home country Germany behind to find a new Place to life that would increase my quality of Life like Spain (but that is another Topic)

My question is hase anyone of you Smart Wolrd Travelers oppend a Bank Account in Honkong ore Singapore ? and what are the step's you need to Take in order to Open one ? Which Banks can you recomend and why ?

I have heared that HSBC might be a Good bank but I am worried about there high Market exposure are there other maybe smaller Banks that might mainly operate in Asia that you know of ?

I have never been to Asia myself, but In order to Open a Bank account I am going to accompany My Mum on here Business Flight to Shanghai and from there get to Honkong ore Singapoore so beeing physcly there is no Problem. I just want to have ase much spezific Knowlege as Possible since I just want to Visit Asia fore that particular event so that is my priority.


I am going to Fly in April and want to deposit a Minimum of a 100K in 70% US dollars 15 % HK Dollars and 15 % Swiss Franks further down the road and if everything works out I will use it to wire my Earnings Directly and use it ase my Main Account to Buy other Assets Internationaly.

So now the first step is to choose a Bank and open a Bank Account and It would be great if someone who hase done just that in real life would share his experience in this Thread.

If there is no one I will write a Datasheet on how to do it ase soon ase I have my Account but comming from Europe not America. But fore know I want to know If anyone hase done it and cane share the details here.

Best Regards
Self Paid

[cycliss]

Hong Kong has the best banking infrastructure in Asia and arguably the world.

HSBC will be the best bank for you because they have branches everywhere around the world and they were built off the business of international clients. They are the only bank I can think of that has an entire section of its bank dedicated for expats. Based on your posts, it sounds like you come from a wealthy family so the status you want to ask for at the bank is called HSBC Premier. Your parents might have to move some business over for you to get it. The main benefit it has is that the bank instantly sets up equivalent accounts in every other country for you, regardless if you qualify or not in that country. The staff also suck your nuts and go out of their way to help you with anything since you are registered as a premium client.

Set up your HSBC Premier account in Germany > deposit money > fly to Hong Kong > transfer money from germany into your HK account (no need to re-register). Its basically a ton smoother.

The Hong Kong dollar is pegged to the US dollar so there is no reason to buy both. You can, however, buy RMB in HK.

Singapore also has a very good banking infrastructure system. If you have the opportunity, you should simply open up accounts in both countries. The main benefits of Singapore is that they are natively English speaking so you will probably feel a bit more comfortable. In HK, only the banking and finance sectors speak English as a working language. On the street (restaurants/bars/clubs/markets) people will prefer speaking Chinese (although they do know English).

[SelfPaid]

Thank's fore helping me out and showing me the process.

So I cane now contact the German HBCS Trinkhaus Bank and than transfer Money to an Honkong ore even Singapore Account.

It should be quiet easy to set that up and the Minimum Balance is fine ase long ase they provide acces to My Money World Wide.

I cane even share that with my Friend and Bussines Partner Since we Both Want to open seperate Accounts in Asia he moved to Brazil now, but Still hase fund's in Germany so he could Transfer them to HSBC aswell.

Everything I need to know now I cane discuss with HSBC

Take Care
and Wish you Success
Eric

[Lukecan]

Why dont you consider Norway as a safe haven? Its not in the Euro zone, not a member of EU either, has shitloads of oil reserves, I dont see them going into recession anytime soon, they're currency is pretty solid aswell.

[SelfPaid]

(11-03-2012 05:04 PM)Lukecan Wrote:  

Why dont you consider Norway as a safe haven? Its not in the Euro zone, not a member of EU either, has shitloads of oil reserves, I dont see them going into recession anytime soon, they're currency is pretty solid aswell.

I have thought about there Norway Currencie but I Prefer Asia fore Banking. Norway is in my opinion not that specialised in Banking like Honkong ore Switzerland is and I don't no what happens to there currency when there is an averlange of money comming there way.

The Swiss Frank is in so high demand and the SwissCentral Bank is buying Euros like Cracy to keep the Price in balance so that the currencie does not get to Valuable and the Country suffers from that.

Not every country can handle a Big Stream of money comming there way and when Problems arise in the euro zone Investors look fore alternatives and might flock to the Krona.

The Second reason is, that I want to keep Money completly out of the Whole Euro ore America System I will keep an account in Germany and my Account in Switzerland but I want most of my Money and even Bussiness in Asia. I want to have acces to Cash when I need it and I don't have a good feeling having Money here.

My Plan fore the next 12 Months is to leave Germany completly and moove some where else. I don't actualy want to live in Asia but Have all my Business related stuff set up there. Since that is the best Option I have in my opionion.

And I should have no problem buying in Australia ore America using my Honkong Base but I have to get more educated about that and Talk with a Proffesional about the details.

The first step is to get a secure Bank account with a Bank that keeps a Low Profile just to hold Cash in HK ore US Dollars that I don't need just ase a Buffer.

The next Step is opening a Bank Account to do Bussines with and that is the Account that hase money flowing in and out and with That account I will be able to buy Internationaly In Nigeria, Africa and Australia. For that account HSBC is the best Option since they are international and have a Branch in alot of countrys wich makes transfering Money easier.

It might sound complicated to you but it is actualy not that complicated and there is no reason fore me not to do it since It will give me alot of benfits and I am location independent which means I cane choose where In the World I want to do what.

I haven't taking advantage of that Oppertunity before but I feel that now is the Time set it up and make sure my assets and everything I do is Protected. Since take that Topic verry verry seriously and I want to be in the best postion possibly when it comes to finances.

[Danski]

In terms of range of services in HK, you really can't go wrong with HSBC. It's difficult/expensive to get set up without actually going to the bank, so as long as you've got a few days in HK you can be in and out in a day or two. I'd recommend setting up a corporation through Jumpstart while you are at it, relatively cheap and useful!

I don't yet bank in Singapore but have many friends who love ANZ.

+1 if you can get an HSBC premier card!

(11-03-2012 09:00 AM)SelfPaid Wrote:  

Hi Roosh V Members.

Like I posted in my Last Thread (Why buying Gold and silver now is a bad Idea) I want to open a Honkong Bank account next year in order to hold some US Dollars aswell ase other currencies in a Safe enviroment outside the US and Europe.

I allready have a Swiss Account that is beeing managed very Good, but I want to have another Base in Asia when it comes to Finances and aswell leave my home country Germany behind to find a new Place to life that would increase my quality of Life like Spain (but that is another Topic)

My question is hase anyone of you Smart Wolrd Travelers oppend a Bank Account in Honkong ore Singapore ? and what are the step's you need to Take in order to Open one ? Which Banks can you recomend and why ?

I have heared that HSBC might be a Good bank but I am worried about there high Market exposure are there other maybe smaller Banks that might mainly operate in Asia that you know of ?

I have never been to Asia myself, but In order to Open a Bank account I am going to accompany My Mum on here Business Flight to Shanghai and from there get to Honkong ore Singapoore so beeing physcly there is no Problem. I just want to have ase much spezific Knowlege as Possible since I just want to Visit Asia fore that particular event so that is my priority.


I am going to Fly in April and want to deposit a Minimum of a 100K in 70% US dollars 15 % HK Dollars and 15 % Swiss Franks further down the road and if everything works out I will use it to wire my Earnings Directly and use it ase my Main Account to Buy other Assets Internationaly.

So now the first step is to choose a Bank and open a Bank Account and It would be great if someone who hase done just that in real life would share his experience in this Thread.

If there is no one I will write a Datasheet on how to do it ase soon ase I have my Account but comming from Europe not America. But fore know I want to know If anyone hase done it and cane share the details here.

Best Regards
Self Paid

[presidentcarter]

Some data here re HK accounts with HSBC and others - addt'l info available black papers (cost $50) with specific contact information is embedded in the article.

[SelfPaid]

@Danski thank's fore you're reply
I intend in talking with there Branche in Germany and then than flying to Honking in April next Year to do the step's that are required to set everything up.

Thank's fore recommending Jumpstart since that is the next Step. I don't like doing Bussines things under my Personal Name so that might be valuable. Going to talk with them If they cane provide something directly fore my needs and what is the best Option.

When it comes to Singapore I am talking to Someone who might recmond a more Private Bank to me Since I want my "Security" Account to be relatively Safe so a more unknown smaller Bank is better fore that Case.

By the Way ANZ is is kind of connected to Australia which comes Handy since there is Business to be made there aswell but the way I see it it is more a " commercial Bank" So I will have to think about it. So ANZ and HSBC are both good candidates fore a Business Account. I will talk to both to find out which on will suit me and my needs more.


@ President Carter yes I have Read the Article and I have posted it, I just Prefer personal Recomondations. But I am sure that I can't go wrong with HSBC fore the Bussines account fore the Security Account just to store Cash in that I don't touch I will find a Solution aswell.

I haven't been to Singapore ore Honkong yet, but It is Smart from my Perspective to check this 2 Countrys out when it comes to Banking and Internation Investing.

So thank you everybody that posted here I think I have enough Options when it comes to Setting up my Business Account and where to do that.

If you have suggestions fore a more Privat Kind of Security Account preferbly in Singapore, with a Bank that is not that Overlaveraged and Internationaly known just Send my a Privat Message with why you think that Bank is good.

Take Care and nice Sunnday everyone
Eric alias Selfpaid.

[BIGINJAPAN]

I have been looking into moving a lot of my banking into Singapore for 4 years now or so. Haven't got around to it just yet as I have second thoughts and may want to be based out of South America. But I did go into HSBC in Canada and open a Premier Status account. I was told that with that I would have no problem setting up an account anywhere in the world with them if they had a branch located in the country. I haven't tested it but that might be a way to get the ball rolling before you leave Germany.

One thing I found odd about HSBC which caused me to flip out after I found out the hard way was: I am a Canadian and I went to Vegas one weekend and I like to empty my wallet and just take a few cards with me. So I brought one credit card and my HSBC premier card. Thinking that even a crappy little Alberta bank card works down there then surely the biggest bank at the time would have no issue. Not to mention I am coming from Canada to the US. Our systems are pretty integrated. Well I get down there and find out not only could I not withdraw money I couldn't even directly purchase anything with it. After I phoned HSBC I was informed there was nothing they could do and my card will never work down there. So be weary of that. That was 4 years ago almost to the day and I am pretty sure things haven't changed.

[SelfPaid]

(11-04-2012 03:28 PM)BIGINJAPAN Wrote:  

I have been looking into moving a lot of my banking into Singapore for 4 years now or so. Haven't got around to it just yet as I have second thoughts and may want to be based out of South America. But I did go into HSBC in Canada and open a Premier Status account. I was told that with that I would have no problem setting up an account anywhere in the world with them if they had a branch located in the country. I haven't tested it but that might be a way to get the ball rolling before you leave Germany.

One thing I found odd about HSBC which caused me to flip out after I found out the hard way was: I am a Canadian and I went to Vegas one weekend and I like to empty my wallet and just take a few cards with me. So I brought one credit card and my HSBC premier card. Thinking that even a crappy little Alberta bank card works down there then surely the biggest bank at the time would have no issue. Not to mention I am coming from Canada to the US. Our systems are pretty integrated. Well I get down there and find out not only could I not withdraw money I couldn't even directly purchase anything with it. After I phoned HSBC I was informed there was nothing they could do and my card will never work down there. So be weary of that. That was 4 years ago almost to the day and I am pretty sure things haven't changed.

Thank you fore letting me now that Big in Japan.
That means I cane Open an Account from somewhere Else aswell I don't Need to do it from Germany? Since A few Things changed and I choose to fly to Brazila fore a few Months next Sunnday. The Goal was to fly to Shanghai with my Mum next April but since some Personal Things changed I am completly in my Own in dealing with this.

What happend to you in Vegas doesen't really speack fore HSBC but I Need the Account primarley to Transfer Money internationly. I don't actualy Need it fore Personal spending but more fore Business . But I still think what happend to you is Kind of Strange since they should actualy have Branches in America aswell.

Have you Talked with them about it ? I am interrested in Hearing more about that since I would reconsider my decision since I don't Care how famouse ore Big they are if I can't Access Money from everywhere I have a Problem with especially if you're actualy a Premiere Client. There are Stil some alternatives like the Singapoore ANZ Bank that another Poster Posted here so I would consider them if HSBC doesen't provide the Things I Need frome a Bank. Are there more People here who had negative experience with HSBC ? Premier Account ore not.

[Hooligan Harry]

(11-04-2012 06:01 AM)SelfPaid Wrote:  

@Danski thank's fore you're reply
I intend in talking with there Branche in Germany and then than flying to Honking in April next Year to do the step's that are required to set everything up.

Thank's fore recommending Jumpstart since that is the next Step. I don't like doing Bussines things under my Personal Name so that might be valuable. Going to talk with them If they cane provide something directly fore my needs and what is the best Option.

When it comes to Singapore I am talking to Someone who might recmond a more Private Bank to me Since I want my "Security" Account to be relatively Safe so a more unknown smaller Bank is better fore that Case.

By the Way ANZ is is kind of connected to Australia which comes Handy since there is Business to be made there aswell but the way I see it it is more a " commercial Bank" So I will have to think about it. So ANZ and HSBC are both good candidates fore a Business Account. I will talk to both to find out which on will suit me and my needs more.

@ President Carter yes I have Read the Article and I have posted it, I just Prefer personal Recomondations. But I am sure that I can't go wrong with HSBC fore the Bussines account fore the Security Account just to store Cash in that I don't touch I will find a Solution aswell.

I haven't been to Singapore ore Honkong yet, but It is Smart from my Perspective to check this 2 Countrys out when it comes to Banking and Internation Investing.

So thank you everybody that posted here I think I have enough Options when it comes to Setting up my Business Account and where to do that.

If you have suggestions fore a more Privat Kind of Security Account preferbly in Singapore, with a Bank that is not that Overlaveraged and Internationaly known just Send my a Privat Message with why you think that Bank is good.

Take Care and nice Sunnday everyone
Eric alias Selfpaid.

There are a few things you need to consider here.

1 - ANZ is Australian and will disclose information to authorities on request if they are trading partners. So EU, USA, G20, etc. They have no value to offer unless you are looking for local transactions. HSBC is like banking with the Walmart of the world. Avoid them like the plague for anything but basic transactional and simple loan type banking.

2 - Singapore has 3 major banks. DBS, OCBC and UOB. They all have their strengths and weaknesses. Singapore and Hong Kong are both solid and do provide a fair degree of privacy, but only to a certain point. It has more to do with asset structure than ownership. Singapore offers so much these days and they are way more aggressive than Hong Kong. You use these banks as your major transactional banks, your "silent banking" is done through places like the Caymans, Cyprus, Liechstenstein, Switzerland, Bermuda, Bahamas, etc.

3 - You cannot hold money in anything but a legal name, either yours or a legal entity like a company. Dont play games with identity ever, rather work within legal frameworks that companies as legal entities offer. Dont fuck around with stuff like this if I read that right.

4 - You can open basic accounts and apply for basic services online or over the phone with both Singapore and Hong Kong. More personalised services you will have to go in.

5 - If you are talking about shifting money around to take advantage of business benefits, reduce taxation and also reduce sovereign risk, this is not done by your banks. All they offer are products and services. You do this through your company structures and asset holdings. The banks cant help you with this, this is what you need financial advisers for. If you want to do it in your personal capacity, it comes down to research.

You seem to be starting out with this stuff, and I dont blame you for wanting to get what you have out of Germany and the EU. Be careful with it though, and read up more about taxation and asset ownership with regards to company types and structure, and spend less time worrying about the banking. The banking is the easy part.

Singapore and Hong Kong are not the only places to go, they are just the best for Asia Pacific. Singapore deserves everyones support out of sheer principle these days.

[booshala]

Have lots of friends in Hong Kong and Singapore and from annual visits there, it's like a laundromat for all the ill gotten money from mainland Chinese and Russian oil tycoons. Not saying that you're trying to launder money, OP... Just saying that the infrastructure is well set up for you if you choose to go that route.

Ever think about Panama or Uruguay? I don't know about your situation specifically because you're in Deutschland, but neither country has tax treaties with the US, so they are quite ideal for stashing away nest eggs. Both countries are also relatively easy to get Permanent residency and citizenship. Just something to think about.

[SelfPaid]

(11-10-2012 03:43 AM)Hooligan Harry Wrote:  

(11-04-2012 06:01 AM)SelfPaid Wrote:  

@Danski thank's fore you're reply
I intend in talking with there Branche in Germany and then than flying to Honking in April next Year to do the step's that are required to set everything up.

Thank's fore recommending Jumpstart since that is the next Step. I don't like doing Bussines things under my Personal Name so that might be valuable. Going to talk with them If they cane provide something directly fore my needs and what is the best Option.

When it comes to Singapore I am talking to Someone who might recmond a more Private Bank to me Since I want my "Security" Account to be relatively Safe so a more unknown smaller Bank is better fore that Case.

By the Way ANZ is is kind of connected to Australia which comes Handy since there is Business to be made there aswell but the way I see it it is more a " commercial Bank" So I will have to think about it. So ANZ and HSBC are both good candidates fore a Business Account. I will talk to both to find out which on will suit me and my needs more.

@ President Carter yes I have Read the Article and I have posted it, I just Prefer personal Recomondations. But I am sure that I can't go wrong with HSBC fore the Bussines account fore the Security Account just to store Cash in that I don't touch I will find a Solution aswell.

I haven't been to Singapore ore Honkong yet, but It is Smart from my Perspective to check this 2 Countrys out when it comes to Banking and Internation Investing.

So thank you everybody that posted here I think I have enough Options when it comes to Setting up my Business Account and where to do that.

If you have suggestions fore a more Privat Kind of Security Account preferbly in Singapore, with a Bank that is not that Overlaveraged and Internationaly known just Send my a Privat Message with why you think that Bank is good.

Take Care and nice Sunnday everyone
Eric alias Selfpaid.

There are a few things you need to consider here.

1 - ANZ is Australian and will disclose information to authorities on request if they are trading partners. So EU, USA, G20, etc. They have no value to offer unless you are looking for local transactions. HSBC is like banking with the Walmart of the world. Avoid them like the plague for anything but basic transactional and simple loan type banking.

2 - Singapore has 3 major banks. DBS, OCBC and UOB. They all have their strengths and weaknesses. Singapore and Hong Kong are both solid and do provide a fair degree of privacy, but only to a certain point. It has more to do with asset structure than ownership. Singapore offers so much these days and they are way more aggressive than Hong Kong. You use these banks as your major transactional banks, your "silent banking" is done through places like the Caymans, Cyprus, Liechstenstein, Switzerland, Bermuda, Bahamas, etc.

3 - You cannot hold money in anything but a legal name, either yours or a legal entity like a company. Dont play games with identity ever, rather work within legal frameworks that companies as legal entities offer. Dont fuck around with stuff like this if I read that right.

4 - You can open basic accounts and apply for basic services online or over the phone with both Singapore and Hong Kong. More personalised services you will have to go in.

5 - If you are talking about shifting money around to take advantage of business benefits, reduce taxation and also reduce sovereign risk, this is not done by your banks. All they offer are products and services. You do this through your company structures and asset holdings. The banks cant help you with this, this is what you need financial advisers for. If you want to do it in your personal capacity, it comes down to research.

You seem to be starting out with this stuff, and I dont blame you for wanting to get what you have out of Germany and the EU. Be careful with it though, and read up more about taxation and asset ownership with regards to company types and structure, and spend less time worrying about the banking. The banking is the easy part.

Singapore and Hong Kong are not the only places to go, they are just the best for Asia Pacific. Singapore deserves everyones support out of sheer principle these days.

Thank you Holligan Harry, that was a Solid Post:
You are right I am just starting out and I understand I will need advisors. Especially with the legal advise setting up a trust, setting up LLC everything that hase to do with asset protection I will get help with that so that I will be fine in that department.

I just need more research on where to go which banks ar good and which banks ar Bad. This is important to me and will influence my future so there is no need to rush it. I will take my time and do what I need to do properly before I make a decission and take the flight.

[SelfPaid]

(11-10-2012 09:40 AM)booshala Wrote:  

Have lots of friends in Hong Kong and Singapore and from annual visits there, it's like a laundromat for all the ill gotten money from mainland Chinese and Russian oil tycoons. Not saying that you're trying to launder money, OP... Just saying that the infrastructure is well set up for you if you choose to go that route.

Ever think about Panama or Uruguay? I don't know about your situation specifically because you're in Deutschland, but neither country has tax treaties with the US, so they are quite ideal for stashing away nest eggs. Both countries are also relatively easy to get Permanent residency and citizenship. Just something to think about.

Hi Thank for you're Input I live or better lived (since I am mooving) in Germany and I own a UK Passport.

I choose to stick to Asia when it comes to Banking and I don't want to spread myself to far and make thing's more complicated as they have to be.

haha I am not money laundrying I don't believe in doing illegal things since I found out making money legally and using the advantages I have is much more simpler with out the risk of ending in Jail or even dead.

I am preparing moving to Brazil in the next weeks since I want to be completly out of the euro zone plus offcourse enjoy the weather there a good friend lives there aswell and we are bot hyper focussed on increasing ouer networth and Assets and we share ouer strategys and wisedom so that is the peferct place for me at the moment.

When It comes to Investing I want a Base that is known for it's banking structure and since the people in singapore are great savers and investors that is the best choice for me since they hopefully have the best banks there aswell.

I am really impressed with singapore moving up from a 3rd World country to on of the top countries we have here so that allone is a reason for me to go there.

I look at Investments from a World view so I don't care if I have to travel to another country to buy assets there. That is the bauty of the World we live in, you are not tiged to on country but can choose to live where it is best for you aswell ase choose you're bussines location where you want it to be.

Buying overvalued Real Estate in Germany Munich is not what I enjoy doing I know most people love to buy high and sell higher or Low but I prefer undervalued real estate that is Casflow positive and at the moment I can find that in Africa and the USA more people are becomming renters. And I don't buy real estate the goverment will have to do it so the tax should be cheap on rent income.

But before that I need a Base where I can operate from financially and that is going to be Singapore.

[Soma]

(11-10-2012 03:43 AM)Hooligan Harry Wrote:  

2 - ... It has more to do with asset structure than ownership. ...

...

5 - If you are talking about shifting money around to take advantage of business benefits, reduce taxation and also reduce sovereign risk, this is not done by your banks. All they offer are products and services. You do this through your company structures and asset holdings. The banks cant help you with this, this is what you need financial advisers for. If you want to do it in your personal capacity, it comes down to research.

You seem to be starting out with this stuff, and I dont blame you for wanting to get what you have out of Germany and the EU. Be careful with it though, and read up more about taxation and asset ownership with regards to company types and structure, and spend less time worrying about the banking. The banking is the easy part.

Great post HH. Do you have any suggestions on where to learn about the asset structuring aspect? There's books out there like Asset Protection and How to Use Limited Liability Companies & Limited Partnerships but I don't know if these are the best places to research and learn about it.

[SelfPaid]

(11-15-2012 02:41 PM)Soma Wrote:  

(11-10-2012 03:43 AM)Hooligan Harry Wrote:  

2 - ... It has more to do with asset structure than ownership. ...

...

5 - If you are talking about shifting money around to take advantage of business benefits, reduce taxation and also reduce sovereign risk, this is not done by your banks. All they offer are products and services. You do this through your company structures and asset holdings. The banks cant help you with this, this is what you need financial advisers for. If you want to do it in your personal capacity, it comes down to research.

You seem to be starting out with this stuff, and I dont blame you for wanting to get what you have out of Germany and the EU. Be careful with it though, and read up more about taxation and asset ownership with regards to company types and structure, and spend less time worrying about the banking. The banking is the easy part.

Great post HH. Do you have any suggestions on where to learn about the asset structuring aspect? There's books out there like Asset Protection and How to Use Limited Liability Companies & Limited Partnerships but I don't know if these are the best places to research and learn about it.

I am not Holligan Harry but I educated myslef a lit'le bit about the topic.

What I honestly found out is that you need a good advisor to do this correctly. There are just to many pitfuls and so many things to consider that it is best to have a proffesional help you out with what you want.

If you just want to buy a house ore a Car anyomsly you cane register an llc in new mexico fore that and buy things under the companies name.

But other than that I am not qualified to help you out and I personaly choose to use an advisor to help me when it comes to asset protection.

Take Care
Eric