Sunday, February 7, 2021

Banking

Non-resident Bank Accounts 

Opening foreign bank accounts in a country if you are not a resident is almost impossible now. Only a few countries allow non-residents to open an account. Georgia and Montenegro do; Singapore and Malaysia also do but require substantial deposits. I asked a person at a bank in Dubai if non-residents can open accounts there. He said yes, but I don't know what the minimum requirements are.

Expat Residence Accounts 

A local bank account is a necessity when living in a new country. A little more research is required to see which bank in each country would be best. Most countries for expats require a local bank account in order to show you have sufficient funds on hand to support yourself.

To start, a survey of best banks for expats in Portugal.