Your Free Guide: Opening Non-Resident Bank Accounts
Download this FREE printable guide to start opening non-resident bank accounts with the best banks around the world.
Non-Resident Bank Account Opening
Non-resident bank account options exist in almost every country. From retail accounts in the US to private bank accounts in Europe, and everything in between.
To get started opening your non-resident bank account, use our free resources, featured articles, and expert insights to navigate your options and find the best bank account for you.
Select Your Banking Hub
Opening an international bank account is critical to the lives of many individuals and business owners. This can be true whether you live in Southeast
Click here to read our featured (and most popular) non-resident banking article that discusses opening an international bank account as a non-resident.
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Non-Resident Account Opening
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Non-Resident Bank Account Opening 101
Before jumping in, here are some of the key takeaways you should know before you open a bank account as a non-resident.
- Not all jurisdictions offer non-resident bank accounts
- Most individuals can open non-resident bank accounts 100% remotely
- Required deposit levels vary between jurisdictions & banks
- Unexpected costs can apply if non-residents choose the wrong banks
- Non-resident bank accounts can offer unique opportunities
Why Open a Bank Account as a Non-Resident?
Opening a non-resident bank account can be essential to supporting your financial needs or international lifestyle. This is especially true if you have investments abroad, work in a country other than your home country, or have a career that requires frequent relocation.
But, there are many other common reasons why individuals are interested in opening non-resident bank accounts.
Common Reasons to Open a Non-Resident Bank Account
- Support for your international lifestyle across multiple jurisdictions
- Finance international real estate investments & maintenance costs
- Access a stable store of value compared to a devaluing home currency
- Access multiple currencies at competitive foreign exchange rates
- Better managed banks than those available in your home country
- Corruption & theft are a risk when banking in your home country
- Diversification of economic & political risk across countries
These are just a few of the many benefits you can unlock when you open a bank account as a non-resident.
But just because you want a non-resident bank account, that doesn’t mean you’ll be able to open one immediately. There are many challenges that non-residents may face when attempting to open accounts, so lets dive into the process of opening non-resident bank accounts.
How to Open a Non-Resident Bank Account
To successfully open an account you first need to know which country and ideally which bank you want to bank with.
Once you decide on a banking jurisdiction, we suggest digging into our country specific content to find out the specifics of opening accounts there. You can find this either below or by visiting our regional content hubs at the top of this page.
That said, no matter where you choose to bank, there are a few unique considerations that non-residents must keep in mind when opening bank accounts.
Unique Non-Resident Bank Account Opening Considerations
Can you demonstrate the necessary ties to the country?
Can you meet the deposit requirements for non-resident accounts?
Do you have an acceptable address (local or foreign) to open an account?
Will you be able to open the account without visiting the bank?
Does the bank have any unique document authentication requirements?
Are bankers in the country familiar with your nationality & residency?
Does the bank openly accept non-resident & foreign clients?
Does the bank charge any unique non-resident banking fees?
By answering these questions when you’re selecting a country and bank, you can ensure that you find a non-resident banking option that is suitable for your profile.
This will save you from wasting time applying to banks that don’t match you or that you are not eligible for, which is very important.
How You Can Start Opening Today
If you need help to determine which country or bank is best for you, you can join one of our premium memberships and immediately get the help you need.
If you’re just getting started, we suggest considering GlobalBanks IQ, it’s our flagship international banking platform designed to help non-residents navigate account opening options for themselves and their businesses.
It comes with step-by-step account opening instructions, proven tools for overcoming account opening challenges, and insights from our team. If you’re ready to start opening a non-resident bank account, click below to get started with GlobalBanks IQ right away.
GlobalBanks IQ provides immediate access to everything you need to open Non-Resident Bank Accounts in top countries around the world!
- Choose banks in minutes with our international banking database
- Open accounts with detailed step-by-step instructions
- Handle banker questions easily with detailed conversation scripts
- Meet bank requirements (e.g. local address) with proven solutions
- Unlock exclusive offers from the best banks in our member reports
- Receive lists of banks that accept high-risk & offshore businesses
- Plus much more!
Looking for a different type of account?
We can help you make informed decisions about personal, business, & private banking across Europe, Asia, and the United States. Click here to learn more.
Where Can You Open Non-Resident Accounts?
The non-resident banking hubs you can access will depend on the type of accounts you want, the features you’re after, how much you can deposit, and your client profile.
To help you navigate your options we’ve put together a shortlist of a few popular non-resident banking hubs to consider.
|Jurisdiction||Preferred clients||Expected deposit (USD)||Notes|
|Isle of Man||Retail, Business, Private, & Structures||$5,000 to $100,000||Suitable option for all offshore banking categories. Use our dedicated Isle of Man IQ report to start opening accounts.|
|Liechtenstein||Private & Structures||$500,000 to $3,000,000||Purely for private banking. Clients should expect to deposit mid-six to seven-figures. High-risk clients accepted.|
|Panama||Retail, Business, Private, & Structures||$10,000 to $100,000||Suitable option for all offshore banking categories. Use our dedicated Panama IQ report to start opening accounts.|
|Singapore||Private & Business||$100,000 to $250,000||Accessible for most nationalities and businesses. Deposit requirements depend on bank and client type. Use our dedicated Singapore IQ report to start opening accounts.|
|Switzerland||Private, Business, & Structures||$10,000 to $3,000,000||Non-resident options in Switzerland range from UHNW private banking to regular accounts with ldeposits requirements as low as $10,000.|
|United States||Non-residents, foreigners||$3,000 to $200,000||Non-residents can open bank accounts in the US without ties to the US, a SSN or ITIN, US address, or physical presence. Use GlobalBanks USA to start opening accounts here today.|
Explore Your Options
Below you’ll find our archive of free resources to assist with opening non-resident bank accounts around the world.
This includes detailed articles to help you open accounts in specific countries and free guides explaining how to navigate challenges related to non-resident banking.