Bank account within EU

0POSTS

4 years ago

Hello, I am doing a research for my plan, and banking seems to be quite a issue. I'm a Slovak citizen, still living here. But due to the fact I certainly do not see my future here (and I do not get how anyone can, honestly), I want to become a perpetual traveler. My "base", permanent and tax, would become Paraguay, while I would travel around, since my business will be location in-depended (company registered in Estonia).

Now, while company can have bank account in EU, I find it quite problematic to find a bank that lets me keep or open bank account without permanent, or temporary, residence. Is there any bank that would let me open a bank account, just as a citizen of EU country, without any residency in EU? I would like to keep an easy access to SEPA, and while Wise seems like a good option, they have some fee for holdings over 3k€ and every transfer cost a fee.

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GuestPoster330956 Guest

0POSTS

4 years ago

I regret that I do not have the answer you may be looking for, aristida. There seems to be a fee with every major financial transaction here. Is there a way you can avoid the bank completely? Or consider Panama, where I understand the banking system is much more advanced?
- @tsamekul

Actually solved it by opening bank account in Georgia, there I also have an EUR account.

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tsamekul Member

23POSTS

4 years ago

Glad you found a solution. Do you mean the country of Georgia or the US state of Georgia? Just curious.

GuestPoster330956 Guest

0POSTS

4 years ago

Glad you found a solution. Do you mean the country of Georgia or the US state of Georgia? Just curious.
- @tsamekul

Country.

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refugiadoportuga Banned

46POSTS

3 years ago

when you will discover the fees of international transfers, or plain withdraw on ATM, you will get a real touch with reality. Eye opener.

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MrAL New member

3POSTS

3 years ago

I have the same problem as you, at which bank in Georgia did you open the account? Did you have to go in person or could you do everything online?

The banking system in Paraguay is very closed and I can't open an account with bank details to receive transfers in dollars or euros, has any expat succeeded? If so in which way?

Thank you

expatmatch New member

3POSTS

3 years ago

It is easy to open bank account in PY with cedula. When you are temporary or permanent resident of PY you will get your cedula. With cedula you can open bank account in PY and also you can have bank account in foreign currencies ( but most of banks require certain deposit to open foreign currencies). But in general it is not an issue to open bank account in PY for residents.

There are also certain options in EU for non-residents but it is hard to explain in single paragraph.

Georgia is also an option and not bad option at all, for now.

Are you resident of PY? Or where do you experience an issue?

MrAL New member

3POSTS

3 years ago

I find it difficult to open an account at a bank in Paraguay, they only opened an account at Banco Altas in guaranie, but it is not authorized to receive USD from abroad

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