Job Discussion Forums

naturegirl321 · Joined: 04 May 2003 Posts: 9041 Location: home sweet home

I-m looking to open a bank account in Europe (since the dollar is going down the tubes ) and kicking myself for closing my Scottish one Sad

Anyone know which countries are easiest to open bank accounts in besides Switerland?

spiral78 · Joined: 05 Apr 2004 Posts: 11534 Location: On a Short Leash

You might try Luxembourg. After all, it's their primary industry!
But, probably not the CZ. The banks there, while much more stable than in past years, are still sort of solidifying their services. I think in January it's possible to maintain a Euro account in the CZ, though.

naturegirl321 · Joined: 04 May 2003 Posts: 9041 Location: home sweet home

What documents do you need to open a bank account in CZ?

naturegirl321 · Joined: 04 May 2003 Posts: 9041 Location: home sweet home

http://www.banque-de-luxembourg.com
Though I think that you need to be an EU or Switerland resident

spiral78 · Joined: 05 Apr 2004 Posts: 11534 Location: On a Short Leash

To open a CZ account you just need a valid passport. I think you probably still have to go there in person to do it. And, they want your 'permanent' address + a Czech one, but I'm not sure if the CZ address is an absolute requirement.

I still think other countries might offer a more stable environment for a euro account, though.........
I had a Luxembourg account as a North American, and still have a Dutch one....but opened both when I was actually in residence, so that could be an issue.

Have you considered one of those well-known tax evasion havens? (Andorra, maybe?!) They must be pretty open to whomever.....

naturegirl321 · Joined: 04 May 2003 Posts: 9041 Location: home sweet home

Thanks, I'll have to do some more research about this. Everything is so difficult!

merlin · Posted: Wed Jan 19, 2005 11:46 am Post subject:

Ummm... I'm pretty sure it's a bit more difficult to get an account in CZ than just showing your passport.

There are still a lot of restrictions on foreigners, unless they're permanent residents.

spiral78 · Joined: 05 Apr 2004 Posts: 11534 Location: On a Short Leash

Yes, like I said, they also wanted a Czech address when I opened mine. And, I'm not sure what they would want from Naturegirl - my passport shows that my spouse is Czech, which simplified the issue greatly, perhaps.
But the CZ allows Euro accounts this year, so I guess it may be possible for a non-CZ, non-resident to open an account....it could be worth looking into, at least as a last resort.

Arab Strap · Joined: 25 Feb 2004 Posts: 246 Location: under your bed

I was, as a UK citizen, able to open a bank account with the CSOB (Ceska Obhodni Banka) in US dollars 3 years ago in Koprivnice CR using my passport as id.

I'd like to meet the teacher who's making enough money in the CR to justify opening an off shore account in the Camen Islands!!!!

Czech banks offer little if any interest and charge you for everything including withdrawing money from an ATM (even from your own bank), statements and bank to bank transfers at a ridiculous commission.

merlin · Posted: Tue Feb 08, 2005 6:36 am Post subject:

Arab Strap · Joined: 25 Feb 2004 Posts: 246 Location: under your bed

Is it not more like 20CZK charges????

You may laugh but 25cents goes a long way in this country (three bread rolls) and 1/3 of a beer depending on where you drink.

merlin · Posted: Tue Feb 08, 2005 12:29 pm Post subject:

Yeah, I was just in a funnin mood.
The Banks really do nickle and dime you to death. Sometimes you need two accounts, or even three or four. (one personal with a withdrawl limit to protect the rest of your money, one with the bulk of your money but not really accessible, one for foreign currency, and lastly one separate one for business. Then if you have separate accounts from your spouse ...) all those charges really add up quickly on multiple accounts. Probably enough to buy something like 10 boxed pizzas!