Hello, I'm from Canada, and I was thinking that later on in life I may want to take some long vacations in other countries, maybe Cuba or the Philippines or England. I was just wondering if it was possible to create personal bank accounts for use there? Keeping a certain balance to those accounts so if I do go to a country, I'd have some spending money waiting for me? What exactly would I need? For interest on the money tax-wise, would I be paying the country the account is held or my own government? I've tried some googling in terms of Philippine banks but they say nothing of it.
Foreign bank accounts
- Thread starter Mr Jeddy
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I myself do not own a Philippine bank account but I do have a foreign (Swiss) one. What I basically did was to enquire from my local bank advisor to get the paperwork done and getting a minimal cash into it. Weeks later, I got approved and tada.
Not sure that's how Canada works though, but it's pretty much the same.
Not sure that's how Canada works though, but it's pretty much the same.
grzegorzdudek
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You can also get one of off-shore accounts but they cost alot to just set them up and you need minimal mothly incoming I think.
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I would suggest meeting with a Finicial advisor or a banker to understand it better for an issue you like this.
Next Scope
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^this.
in the meantime i would suggest reading the following books on the subject:
-"invisible banking" by lance spicer. very practical and awesome book. it's tailored for the australasian, but it's methods are applicable to anyone.
-"treasure islands" by nicholas shaxson. this takes more of a historical look at 'offshore', but it's nice to get a perspective of the euromarket. note: the author seems to have some socialist leanings- so prepare yourself for some cringing when it comes to the author's opinion.
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