Can I open a bank account in a European Country without a Visa?Hi, I am setting up an online based business but really having trouble with setting up the payment gateway. Most major online payment processors such as Paypal, Google checkout, Authorize.net, Clickbank, etc... do not have my country (Lebanon) listed among the countries that can open accounts in them. There are... | |
This depends on laws from country to country. Many times YES. It is done all the time. Some countries require you have a custodian, agent or other contact who is a citizen. They charge a fee for their services. The rich people do this in the USA all the time to avoid taxes. You probably might need a visa, but you won't need to travel with it. Check and you will find some countries thrive on out of country banking. I am fairly sure if the country recognizes bank transactions from Lebanon it may, depending on their laws allow you to open an account. AS long as you can send a bank draft that has actual funds to deposit you can usually open an account somewhere in another country. People put money in the Cayman Islands all the time as a way to avoid taxes. It may cost you some money. I am not up on all the new laws, but I have seen companies in the US with all their assets held in the Cayman Is. They would rent things back and forth with the owner of the rented property being a Cayman Is off shore holding company. The rental fees offset any and all US income taxes. Europe won't be cheap. They will probably want taxes or fees, maybe both. I know it has been and is being done.
