For Taiwanese who want to keep their money outside of Taiwan, what legal and safe ways are there for them to do so? I understand InteractiveBrokerage allow this, but I was wondering if there were any traditional banks out there, ideally banks who also have a presence in Taiwan that offer this kind of service.
Iām guessing HSBC allows this?
Only obvious reason to do this is for tax havens. Otherwise you could go to Germany, register wherever you stay at the local rathaus, and use that to open a bank account. Then you can park your money there and all that. I donāt know if you could do this in Switzerland tooā¦
Could open a HSBC Taiwan account, but I donāt know if they allow you to open an overseas account.
You gotta be in that country to open an account overseas.
I know you can do this in Germany by registering your address at a rathaus, then use that to open an account there. You donāt need a residence permit or anything, even landing visa will work for this. The rathaus isnāt too concerned about your immigration status honestly (theyāre only responsible for registering your abode). In fact foreigners are supposed to register themselves at a local rathaus anyways.
I donāt know the rules for other countries.
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if you are filthy rich, the bank will come to you. if you are just a regular Joe and want an overseas account you need to do it overseas. banks in Singapore, Europe, USA will all gladly take your money.
i think that for most people, have a spare bank account in their home country is probably easiest.
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HSBC Expat is made for this, I opened it online from here. I keep my money there for premier status and just keep a small amount in the local account. The threshold is lower too.
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In Australia there are no restrictions as to Nationality when opening Bank Accounts. All you need is some ID (Passport (of any Country) and Credit Card will usually be enough). Many allow for it to be done on-line. If you donāt have an Australian address (or a friend that will let you use theirs) you can record your foreign address. They will deduct 10% of any Interest for non-residents and remit it to the Tax Office, unless you have a Tax File Number in which case nothing gets deducted. For individuals there is Zero Tax payable if your income is below about AUD20K per year - which equates to about $500K on deposit at 4% interest.
The catch is of course that none of the Australian Retail banks have any presence in Taiwan.
They do. I have HSBC accounts outside of Taiwan.
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Well, easiest is to open hsbc account here and then hsbc expat or hsbc in the country you are citizen of (if available)
Also Standard Chartered
I have an HSBC Taiwan account. What are the requirements to open/upgrade to an HSBC Expat account?
You donāt āupgradeā, you open it separately and then connect once open. Just go to the website and follow instructions. Keep it mind it will take several weeks.
Youāre allowed to open a personal bank account in practically any country that lets you. If itās a decent amount you want to put in, Singapore is considered safest with their priority banking services for their ābig 3ā banks - UOB, OCBC and DBS.
Itās not there are many reasons, diversifying portfolio, investment, and protecting your cash due to unforeseen circumstances like I presume OP wants to do.
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ESun has a Singapore branch for personal and company accounts (can do Taiwan companies too)
Just need to remit 500k USD but can take it out after
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Iām looking for an account my wife can open, and she only has Taiwanese nationality. Would be looking to deposit around 2 mill TWD.
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HSBC Expat may actually work for my wife
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Iāve a HSBC account here and at an overseas branch, whatās the advantage of the āexpatā account? If there anything you can do with it that canāt be done with a ānormalā account?
Iām looking into this, but it doesnāt seem to offer payments in TWD? How are you using this?
And what are the advantages of using this over other banks from your home country?
My main issue is I want to transfer money from my Taiwan bank to my US bank (and vice versa) without paying fees. Does a HSBC Expat account solve this issue?
HSBC canada is closing doors and they made it hard to open up in the first place. Support says I can do it as non-resident, branch staff say no, then once I came back here I noticed I could start process online then visit a branch 
. Iāll try opening it up again just for fun next time I go but not really put much money in there.
As for why expat?
- the threshold here for premier is 3 million TWD, while expat is only 50k GBP or ~1.9 million TWD
- donāt want to keep money here in case shit hits the fan
- interest rates for fixed deposits arenāt bad
- the interest is tax free
It goes up and down every day, even hit 5% once.
See above. I only keep USD in the account.
Then you should open up account with HSBC US. I donāt want to deal with the IRS in any way, shape or form.
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