Daruma

I know of a couple in Panama, any others?

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Kimo

paging Webby to thread......

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Daruma

thx.......

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Webby

Hi Kimo

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XXX TLD's - Another mosquito to swat.

Daruma

hey webby - any good ones that you know of ?

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Webby

Basically they all offer interest Daruma - that's what appears to make the world go round

If you are heading towards Panama area - there are approx 130 international banks and a number of private banks. From a security angle, I'd be looking at the international banks with substance behind them - eg Barclays, Citibank, ScotiaBank etc.

BTW... Not sure if this is relevant to you - yes, there are privacy laws which apply to all banks in genuine offshore areas, else their banking licenses can be removed.

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Daruma

already have accounts in a couple of panama banks
my requirements are:

interest bearing - $250K and up balances..
cc or debit card linked - vs or mc
full internet access - wires, etc..

any links - recommendations would be great

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Webby

All the main banks are fairly similar and competitive offering various "tools" to collect interest. A friend is a director of Scotia Bank Latin America and they literally offer all the usual services of the parent bank in Nova Scotia - CD's etc. The only difference is they must comply with the laws of the offshore area and no data is supplied outside that offshore jurisdiction - ie to the parent company.

One thing about Panama in particular, - it's prob currently the strongest offshore area, but with one exception, which may, or may not, be relevant. There has been a slight change where Panama now has a MAT (Mutual Assistance Treaty) with the US.

Also not sure if this is relevant - there are many opportunities to earn far more from capital by eg investing/purchasing real estate in areas of Latin America and the returns are far more than any bank could offer. Currently certain areas have been appreciating in value between 40%-60% per annum over the last five years - and still increasing yet. Also, any such investment can be held in, eg. a Panama corp with full privacy. Just a thought

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Daruma

thnx for the info webby...
do you have contact info?

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Webby

Not really contacts.. it's a thing a bank does from scratch with each new client. With most of the major banks it's better to go to Panama equipped with letters of introduction/references, passport, possibly some form of utlity bills to prove your address and the name of another bank for reference purposes. (Truth is, all that stuff is thrown in a file )

Then chose a few of the largest office blocks in Panama (they are all banks ) and open a few accounts at one time.

BTW.. another thought may be to consider having a corp to open these accounts - it can often be easier where you have, eg. your own investment corp as a face. There are also a few side benefits to that such as trading accounts and bearer shares.

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XXX TLD's - Another mosquito to swat.

Z

I'm in Panama and have a few unique hookups for people with real money. That'd be $5 mil +.

Less than that, I've got quite a few friends that cater to us too.

Hit me up if you're interested...