105: Luigi Wewege – Offshore Banking – What You Need To Know

Today’s guest on the Expat Money Show is Luigi Wewege, Senior Vice President and Head of Private Banking at https://www.cayebank.bz/ (Caye International Bank), headquartered on the beautiful island of Ambergris Caye in Belize. Outside of the bank, he serves as an Instructor at the FinTech School which provides online training courses on the latest technology and innovation developments within the financial services industry. He is also the published author of https://www.amazon.com/Digital-Banking-Revolution-Transforming-Disruptive-ebook/dp/B081XTS8LS/ref=sr_1_2?dchild=1&keywords=The+Digital+Banking+Revolution&qid=1604418617&s=digital-text&sr=1-2 (The Digital Banking Revolution). Today's interview was really fun to record. This is a first for us and we’re learning the ropes for audio and video. Instead of my guest being in another country or city, Luigi came to my office here in downtown Panama and we recorded live video and then made an audio recording for our podcast. You will notice the sound is a little different, but the quality of the guest is outstanding. Luigi is so knowledgeable regarding offshore banking that you’ll truly want to listen to the entire episode.   TOPICS DISCUSSED IN DETAIL IN THIS INTERVIEW:What is an Offshore Bank? Why don’t people use their local bank? Reasons why offshore banks would help What if you have a 9-5 job as an expat in a new country? Asset Protection - how it would help Zero tax jurisdiction Jurisdictions that are famous De-risking and what it is What is FATCA & CRS KYC and Money Laundering Accounts with multiple currencies Who can apply Luigi’s book:  https://amzn.to/2I4msYX (The Digital Banking Revolution) And so much more….   Here are 5 really important things I learned talking with my friend Luigi Wewege: Take your application seriously. This is not like your local banks. Work with a 3rd party that has a reputation with the bank. Offshore banking has different price points than domestic banks Offshore costs more International business & Asset protection and diversification Take your jurisdiction seriously, they are not all the same   RELATED PODCAST EPISODEShttps://expatmoneyshow.com/captivate-podcast/085-warren-black/ (085: Warren Black – International Tax Expert Champions For Sovereignty) https://expatmoneyshow.com/captivate-podcast/mark-nestmann-why-americans-shouldnt-have-negative-views-towards-offshore-investing/ (084: Mark Nestmann – Why Americans Shouldn’t Have Negative Views Towards Offshore Investing) https://expatmoneyshow.com/captivate-podcast/joel-nagel-best-countries-for-citizenship-by-investment-residency-by-investment/ (081: Joel Nagel – Best Countries for Citizenship by Investment and Residency by Investment)   HOW TO REACH LUIGI WEWEGEhttps://www.escapeartist.com/offshore-banking-setup (Escape Artist Offshore Banking Set-up)   FINAL THOUGHTSGreat conversation with my good friend Luigi Wewege. As I mentioned at the beginning of the interview, we met almost 3 years ago in Dubai and became fast friends. He’s one of the reasons I moved my family to Panama, all the great things he talked about living here. This is a really great video interview with him about all things Offshore. If you are interested, please reach out to me https://www.escapeartist.com/offshore-banking-setup (HERE )and I will be happy to make a personal introduction.   Support this podcast