Bitcoin Forum

Hello Everyone,

I'm very interested in keeping my financial dealings as private as possible. As a US citizen, that has proven to be challenging with all of the crazy US laws requiring all sorts of information disclosure. So I'm looking at Europe. Many nations in Europe have pretty strong privacy laws that really appeal to me. But I can't find any banks that are willing to do business with US citizens!

Does anyone know any banks where this would not be a problem?

Thanks!

The only bank that I know in the EU that will let you open an account online. Not sure if they accept US resident. https://www.keytradebank.com/

Doesnot seem like its allowed or you might have to make some special arrangement with them
https://i.imgur.com/fgvvI5q.png

Unless you are laundering money or doing something else illegal, the information required shouldn't be too personal...

Unless you are a criminal, I think it should all go through fine and the personal information is kept highly confidential I believe!
So dont panic!

This is a bit skewed IMO. I'm neither laundering money or doing anything illegal but I do value my privacy and find the US financial laws overly burdensome. It's not that I'm doing something wrong, I simply believe there is nothing wrong with keeping my personal business private and want to provide the absolute minimal amount of personal information I have to.

https://bitcointalk.org/index.php?topic=256940.0

Hi Cypherpunk,

Are you in the US or in Europe?  Either way if you opening a foreign bank account you would then have additional reporting requirements that overseas US citizens are subject to.  Specifically the foreign bank account rules, which you would be required to file if the aggregate balance of all your foreign bank accounts is more than $10,000 dollars on at least one day of the tax year.  Non willful (if you didn't know about it) failure to file results in a fine of up to $10,000 per infringement.  Willful failure to file results in up to $100,000 per infringement and you can be criminally prosecuted.

Also from this year foreign banks are required file a report for all their customers who are US citizens, so don't think that opening a bank account in Europe will give you the privacy you are looking for.

Apologies if this is information you already know (re. refernece to the Crazy US laws).  Each year it is getting more and more costly to comply with the US tax law if you are a US expat.  This is leading to a rise in the number of US citizens abroad giving up their US citizenship.  It's just too costly.

Sources :

FBAR - http://www.americansabroad.org/issues/fbar/ (http://www.americansabroad.org/issues/fbar/)
FACTA (foreign banks requirements to report to IRS) - http://www.americansabroad.org/issues/fatca/ (http://www.americansabroad.org/issues/fatca/)

Cheers

Democratic Republic Of Dave.

It's going to be extremely difficult for a U.S citizen outside the U.S to open a bank, I've seen other banks as well that have stopped dealing with the U.S because of the regulations involved with doing business there. I can only recommend Bitcoin really or getting citizenship some place else if you can afford that because any privacy minded banks are avoiding the U.S like the plague.

I'm not even going to take my smug Englishman approach here because I'm thinking about renouncing my citizenship when I can afford it and moving country because shits going down in the UK as you guys have seen.

In the alternative case where you are a criminal, the bank will magically know and present you with a different form asking for more personal information. Makes complete sense.

OP : try Singapore.