Gray Frame Corner

Five International High-Yield Savings Accounts

Going offshore, you'll find many high-yield savings accounts paying 2-3X what you'd earn in the best savings account in the US and up to 100X higher than the average.

Want Higher Interest Rates - Go Offshore

– Some Georgian banks allow non-residents to open a bank account. – Interest rates for non-residents are slightly lower than for residents and citizens. – TBC will pay tourists 2.4% for a one-year term and 2.85% for a two-year term.

Banking in Georgia

– Bank of Georgia offers nearly identical rates. – Depositing mid-five figures may get you better interest rates. – Banking in Georgia is streamlined and quick. – You can open a Georgian bank account remotely.

– Armenian banks offer some of the highest interest rates in Europe on USD, euros, and the local Armenian dram. – Depositing USD into a one-year term deposit can get you a 4.75% interest rate. – A two-year deposit will get you an interest rate of 5.75% – Armenian Dram is a stable currency and holds up quite well against USD.

Banking in Armenia

– Locally owned Canadia Bank pays 4.75% on USD savings for a one-year term deposit and 5.25% for a two-year term deposit. – Other local banks like Acleda Bank will pay similar rates.

Banking in Cambodia

– If you prefer the safety of a foreign bank, Canada's ABA Bank pays 3.75% on USD deposits, while Maybank (the largest bank in Malaysia) pays 3.35% on 13-month fixed deposits. – To open a bank account in Cambodia, you must visit the country on a business visa.

– Khan Bank pays 5.4% on USD savings for one year (the tugrik rate is 12.8%) – The Golomt Bank pays 4% on USD savings for a one-year term deposit or 4.2% for eighteen months.

Banking in Mongolia

– Opening a bank account in Mongolia may be more complicated than in Georgia since English is not widely spoken there. – Mongolian banks' mobile-banking services aren't that efficient either.

– Many Ecuadorian banks allow non-residents to open a bank account. – One of the most attractive retirement destinations in South America. – The official currency is the USD. – The co-op (basically a credit union) of JEP Ecuador offers 6% interest rates on USD for one year, 7% for two years, and 8% for three years.

Banking in Ecuador

Asset diversification has become more critical than ever. You never know when the "popular" country will go south. If that happens, getting a second residency/citizenship, moving your business offshore, or banking offshore could be your saving grace. Contact Nomad Capitalist to get a holistic offshore strategy.

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