How to set up foreign bank account

[warrior75070]

What is the best way, for a private individual, to set up a foreign bank account that creditors cannot garnish?

What banks/countries are the best?

Do you have to travel to that country to set up the account?

If the bank has branches in the US, is your money still protected?

Any advice would be appreciated.

W

[pyramider]

Usually you have to set up the account in person, with cash. I do not know about protection from creditors with foreign bancks. It would be safe to assume if they have a branch in the US that the funds would be exposed. Any banck operating in the US is required to operate under US law.

[Wakeup]

How about you just pay your fucking debts?

[ArisRose]

Originally Posted by warrior75070

What is the best way, for a private individual, to set up a foreign bank account that creditors cannot garnish?

What banks/countries are the best?

Do you have to travel to that country to set up the account?

If the bank has branches in the US, is your money still protected?

Any advice would be appreciated.

W

I can't speak about any European banks. I've never had success in opening one. The requirements have become harder now plus they want a hell of a opening deposit ($2500 +). I've only dealth with Caribbean and Middle Eastern banks (don't ask) and they are pretty easy. Go to google, pick a country then pick a bank. Email or call. Most will email you an application and list the things required for identification (all will ask for a copy of your US passport so if you don't have a passport head to the postoffice and fill out the application to get one). Then you will wire transfer your opening deposit (minimum for most is $500).

I would avoid banks with branches in the US. I know for a fact that HSBC won't allow a garnishment but they will freeze your account.