Ironically, Switzerland will show you the door the moment you ask, if you are not a legal resident. The USA imposed such stringent reporting paperwork on their banks for non-resident Americans that the Swiss kicked them all out, told them to close their accounts and empty their safe deposit boxes.
But Germany, on the other hand, had no problem at all with me opening a non-resident account before I moved here. You have to go through all the reporting paperwork in both countries, and report any income (i.e. interest, etc.), but as long as the funds are legal, taxes already paid, there aren’t any barriers. At least, there didn’t use to be. I’ve been told the regulations are particularly loose in Estonia, and almost as loose in Poland, but I have no personal experience with either. I would suspect the UK and Ireland wouldn't be overly complicated, either.
So-called money-laundering regulations exist, but they are mostly to catch big drug cartel profits in the hundreds of millions. Since they rarely catch anyone (whether due to incompetence or due to bribed design, I couldn’t tell you), they impose a lot of paperwork to show they are trying. One favorite parking place is the string of Russian-owned banks on Cyprus. If you meet a financial advisor who sings the praises of parking your offshore stash with the Gangstersky Bank of Cyprus, tell him thanks for the coffee, and head for the exit without showing too much panic.
There are three classes of offshore account reporting. One is for accounts whose balance does not exceed $10,000. These days, that amount hardly seems worth the effort. That’s four Krugerrands. It used to be twenty. Accounts like that barely raise an eyebrow, and the fees will dwindle it with alarming speed (ask in advance! They vary widely). The next stage is between $10,000 and $100,000. They get more attention, although if the activity on the account is minimal and fairly benign, here, too, just obey all reporting requirements, and no one should give you a hard time. Go over a balance of $100,000 and you may or may not be called to give a “who and why” explanation, though if you’re clean, they shouldn’t give you a hard time. Transparency is your friend.
Things could always change, of course. Countries that grossly mismanage their economies often put restrictions on what their citizens can take out of the country, and mismanaging the economy is the Republican Party’s middle name. In the USA, as things stand now, there are no restrictions on carrying cash or negotiable instruments in or out of the country. Amounts of $10,000 or above must be officially declared, but they are legal. Depending on the amount, the bearer could be asked to explain the reason or document ownership, but if you’re declaring in the first place, and you’re not an idiot, you will have your paperwork in order. Whether or not that stays the status quo is another question, but it has been static for decades.
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Yes. I think I'll avoid that!
