- Thread starter Lahaina
- Start date
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Banking in Dominican Republic
dominican banks, as a general rule of the thumb, last time i looked, do not notify foriegn govts.,,,,,US internal revenue,,,,,,,,or your ex-wife,,,,about your activities,,,,,,,nor are they recquired to........nor will they........if you ask them to it won't get done for at least a month and then only if you beg.............however, if law enforcement (any) comes looking, in the good spirit of cooperation in the war on drugs, then all bank employees eat the cheese, (are rats).............if you don't give the curious a reason to look in the DR why would they?
The Dominican Republic IS NOT an offshore jurisdiction with strict banking secrecy statutes. Nowadys, even offshore jurisdictions such as Cayman, Bahamas, BVI and Panama are not what they used to be in this regard.
Banking Secrecy
This not only applies to bank accounts, but safe deposit boxes kept at banks too. In order to have a safe deposit box in a bank, you must first open a banking account. Your account information and the fact that you have a safe deposit box can be revealed to an investigator. In fact, I know of one instance where a foreign government was able to persuade a local bank to freeze someone's account and their safe deposit box.
As Guzman stated, "The Dominican Republic is not an offshore juridiction with strict banking secrecy statutes..." And, I don't expect that to change anytime soon.
The Dominican Republic IS NOT an offshore jurisdiction with strict banking secrecy statutes. Nowadys, even offshore jurisdictions such as Cayman, Bahamas, BVI and Panama are not what they used to be in this regard.
This not only applies to bank accounts, but safe deposit boxes kept at banks too. In order to have a safe deposit box in a bank, you must first open a banking account. Your account information and the fact that you have a safe deposit box can be revealed to an investigator. In fact, I know of one instance where a foreign government was able to persuade a local bank to freeze someone's account and their safe deposit box.
As Guzman stated, "The Dominican Republic is not an offshore juridiction with strict banking secrecy statutes..." And, I don't expect that to change anytime soon.
Thank you all for your time!
Is it true that :
1) To open a $US bank account in the Dominican Republic only requites a current and valid passport.
2) No foreign government can access a bank account belonging to a Dominican Republic resident, even if that resident gained their residency a week before they opened their bank account.
Is it true that :
1) To open a $US bank account in the Dominican Republic only requites a current and valid passport.
2) No foreign government can access a bank account belonging to a Dominican Republic resident, even if that resident gained their residency a week before they opened their bank account.
From my experience...
We opened up accounts at the Banco Popular in Punta Cana.
We were required to show our passports as well as a letter of reference from our banks in the US and Spain. We had the letters faxed in and the account was opened.
-Joc
We opened up accounts at the Banco Popular in Punta Cana.
We were required to show our passports as well as a letter of reference from our banks in the US and Spain. We had the letters faxed in and the account was opened.
-Joc
The Dominican Republic IS NOT an offshore jurisdiction with strict banking secrecy statutes. Nowadys, even offshore jurisdictions such as Cayman, Bahamas, BVI and Panama are not what they used to be in this regard.
Panama is not included in this..If you have a Panama Corp. with the bank account tied directly to the corp, your name will not appear anyplace.You are a Phantom...And the money is insured to $10,000 USD.
In the DR the money is NOT insured at all..The other countries Mr. Guzman stated do unfortunatly fall into this catagory of not being so secret anymore..
The only sure way to keep money although you will not gain interest or be able to ever let anyone see you digging..Is to Dig a hole with your cash in your yard and place a watertight container with your cash in it and bury it.Unearthing it as you need it..
Thank you so much, zak.
So you think that, the right place for me to get the best secrecy laws is in Panama.
In fact, I have seen a lot of brokers over the internet : Do you really think I should trust them? Or should I just go directly to Panama to open up a Corporation and a Bank Acount?
Do you know anyone in panama (bank, attorney,etc,etc...)
Mister J. Guzman can you help me ?
In fact I would like to have my corp and my bank account in Panama and have my residency in the Dominican Republic. Is it possible and can you introduce me to people and bank I can trust.
Regards.
Laurent
So you think that, the right place for me to get the best secrecy laws is in Panama.
In fact, I have seen a lot of brokers over the internet : Do you really think I should trust them? Or should I just go directly to Panama to open up a Corporation and a Bank Acount?
Do you know anyone in panama (bank, attorney,etc,etc...)
Mister J. Guzman can you help me ?
In fact I would like to have my corp and my bank account in Panama and have my residency in the Dominican Republic. Is it possible and can you introduce me to people and bank I can trust.
Regards.
Laurent
What kind of interest rate are you getting these days????--- It's scary that it's not insured! HMMM!
Average interest rate in thr DR is 2% for a Savings account..
For a 6 month CD it is 10% at Banco Central..
Thank you so much, zak.
So you think that, the right place for me to get the best secrecy laws is in Panama.
In fact, I have seen a lot of brokers over the internet : Do you really think I should trust them? Or should I just go directly to Panama to open up a Corporation and a Bank Acount?
Do you know anyone in panama (bank, attorney,etc,etc...)
Mister J. Guzman can you help me ?
In fact I would like to have my corp and my bank account in Panama and have my residency in the Dominican Republic. Is it possible and can you introduce me to people and bank I can trust.
Regards.
Laurent
Pm me on this ...There are many bad legal companies in Panama but I did my homework last year and use a good one..Take note that a US citizen cannot open a bank account in Panama unless the have a Panama Corporation or Foundation..Price for both is $1,800 US start up fee and $695.00 maintence fee per year.The first $695.00 is included in the start up fee..The only thing Mr.Guzman can do for you is get you an RNC # if you want to use your corp here in the DR..He is a DR attorney not a Panamanian one..Check with him on the cost to do this for you..Then your Panama corp would own your Dominican corp. Still leaving you a Phantom...
Banking Secrecy
The best form of banking/financial secrecy in the DR is a safe deposit box at an instiution like Banker Trust (Home) and the box held in the name of a Panamanian Corporation. Stay away from local bank safe deposit boxes as there is minimal privacy and Dominican Corporations as you'll be listed in public records as a shareholder.
Are there bank secrecy laws in the Dominican Republic?
The best form of banking/financial secrecy in the DR is a safe deposit box at an instiution like Banker Trust (Home) and the box held in the name of a Panamanian Corporation. Stay away from local bank safe deposit boxes as there is minimal privacy and Dominican Corporations as you'll be listed in public records as a shareholder.