LebGeeks

mikasa

Member

Safest way to receive money from USA in Lebanon?

Hello lebgeeks wizards,

i'm aware of opening a fresh money account and withdraw without a limit , but i'm afraid that rules might change in the future and lose the whole amount . so instead i'm thinking of opening a bank account in another country (even if i have to go there) and receive money in it then only wire a small amounts to the fresh money account in Lebanon and hope i can keep withdraw from it without any problem in the future.

my dad told me that his friend is having a problem opening a bank account in Cyprus , his friend already paid 3-4 millionLL and still couldn't open an account there.

and the bank account should be ready in a month to receive the money.

do you have any idea what should i do  ?

Thanks

NuclearVision

Member

Re: Safest way to receive money from USA in Lebanon?

another member brought up the idea of georgia, perhaps you should take a look at it.
In my opinion, placing large amounts of money in any country has risks.
Cyprus had the same issue we're having, like greece did, a few years ago.

Kareem

Member

Re: Safest way to receive money from USA in Lebanon?

Hello lebgeeks wizards,

i'm aware of opening a fresh money account and withdraw without a limit
Thanks

Fresh accounts means you can do whatever you want with the cash you deposit or international incoming transfer but you cannot withdraw it without a limit.

rolf

Member

Re: Safest way to receive money from USA in Lebanon?

Do you have a EU or UK passport or some kind of residence? Some banks there make it very easy to open an account (others not). If you dont, then you will need a tourist visa which might make it more complicated.
Georgia should be easy, but I dont know about USD accounts.
Otherwise there is always cash, smartly split.
In theory you could use bitcoin, if you find someone in Lebanon who will buy it back from you.

Dan28

Member

Re: Safest way to receive money from USA in Lebanon?

Hello lebgeeks wizards,

and the bank account should be ready in a month to receive the money.

Thanks

go to Georgia, the ticket is 80$ and you dont need a visa. "check google flights to get the cheapest ticket, click calendar and choose the cheapest day".
go to "Bank of Georgia" you just need your passport, other banks might ask for "efedet sakan" so get that translated before you go.
you can open an account in less than 30 mins.
they are very friendly and you dont pay any income taxes, actually this country is a tax haven.

Dan28

Member

Re: Safest way to receive money from USA in Lebanon?

Georgia should be easy, but I dont know about USD accounts.

you can open an account in usd, eu, or georgian lari.

if you open a saving account they are giving 4% interest on the usd and 10% on the georgian lari.
im actually thinking of moving there lol, if you invest in 110k "car or property or both" you get permanent residency, "if not you get 1 year tourist visa".
if you open a saving account in lari and put 100k you get 10% interest which is equivalent to 2390 lari while the average wages there are 755 lari. You can live comfortably and never have to work again, assuming you own a house there.

jibbo

Member

Re: Safest way to receive money from USA in Lebanon?

Hello lebgeeks wizards,

and the bank account should be ready in a month to receive the money.

Thanks

go to Georgia, the ticket is 80$ and you dont need a visa. "check google flights to get the cheapest ticket, click calendar and choose the cheapest day".
go to "Bank of Georgia" you just need your passport, other banks might ask for "efedet sakan" so get that translated before you go.
you can open an account in less than 30 mins.
they are very friendly and you dont pay any income taxes, actually this country is a tax haven.

Can do the same in Turkey, but you need the efedet saken from Lebanon

Dan28

Member

Re: Safest way to receive money from USA in Lebanon?

Can do the same in Turkey, but you need the efedet saken from Lebanon

yes and Armenia too, but he said he wanna use it to receive funds from usa and then transfer a little to lebanon, it might be considered as income funds, and they might tax it.

Last edited by Dan28 (February 17 2020)

TheIlluminative

Member

Re: Safest way to receive money from USA in Lebanon?

Hello lebgeeks wizards,

and the bank account should be ready in a month to receive the money.

Thanks

go to Georgia, the ticket is 80$ and you dont need a visa. "check google flights to get the cheapest ticket, click calendar and choose the cheapest day".
go to "Bank of Georgia" you just need your passport, other banks might ask for "efedet sakan" so get that translated before you go.
you can open an account in less than 30 mins.
they are very friendly and you dont pay any income taxes, actually this country is a tax haven.

Show me that ticket for $80. People never stop claiming non-existant stuff. To go to Georgia, you have 2 options, either direct flight which works only in summer and it cost around $400, or go via Turkey which you need 2 tickets - and Atlas Global stopped opperating which means the tickets won't be that cheap. So show me that $80 ticket please.

TheIlluminative

Member

Re: Safest way to receive money from USA in Lebanon?

Georgia should be easy, but I dont know about USD accounts.

you can open an account in usd, eu, or georgian lari.

if you open a saving account they are giving 4% interest on the usd and 10% on the georgian lari.
im actually thinking of moving there lol, if you invest in 110k "car or property or both" you get permanent residency, "if not you get 1 year tourist visa".
if you open a saving account in lari and put 100k you get 10% interest which is equivalent to 2390 lari while the average wages there are 755 lari. You can live comfortably and never have to work again, assuming you own a house there.

The interest is 0.9% for people not living in Georgia on the USD account (TBC Bank). I have no idea from where you are bringing such numbers to be honest.

Last edited by TheIlluminative (February 17 2020)

rolf

Member

Re: Safest way to receive money from USA in Lebanon?

To go to Georgia, you have 2 options, either direct flight which works only in summer and it cost around $400

Expect to pay around $250 for a roundtrip at the time, probably not direct.
I never saw a $80 roundtrip.

Dan28

Member

Re: Safest way to receive money from USA in Lebanon?

I never saw a $80 roundtrip.

80$ for 1 way

Dan28

Member

Re: Safest way to receive money from USA in Lebanon?

The interest is 0.9% for people not living in Georgia on the USD account (TBC Bank).

huh ill call the bank to confirm, i guess you'll have to get residency first.

rolf

Member

Re: Safest way to receive money from USA in Lebanon?

if you open a saving account they are giving 4% interest on the usd and 10% on the georgian lari.

Sounds like Lebanon a few years ago...

However to be fair the corruption ranking of Georgia is better than Lebanon, and their economy healthier.

If you decide to go this way, make sure to research the options for online banking for example.

Last edited by rolf (February 17 2020)

mikasa

Member

Re: Safest way to receive money from USA in Lebanon?

another member brought up the idea of georgia, perhaps you should take a look at it.
In my opinion, placing large amounts of money in any country has risks.
Cyprus had the same issue we're having, like greece did, a few years ago.

yea georgia looks promising , and yea there is always a risk it's so frustrating.

Fresh accounts means you can do whatever you want with the cash you deposit or international incoming transfer but you cannot withdraw it without a limit.

ah yes that makes sense , do you have any details about the limit?

Do you have a EU or UK passport or some kind of residence? Some banks there make it very easy to open an account (others not). If you dont, then you will need a tourist visa which might make it more complicated.
Georgia should be easy, but I dont know about USD accounts.
Otherwise there is always cash, smartly split.
In theory you could use bitcoin, if you find someone in Lebanon who will buy it back from you.

No , i wish i have uk/eu residence , and yes it is gonna be hard for a tourist visa to get accepted. Smartly split u mean withdraw cash and bring it with me.
no way , can't convince my parents about the bitcoin.

interest on the usd and 10%

ouf we all learned recently that's a red flag . But yea georgia is my best option so far.

Kareem

Member

Re: Safest way to receive money from USA in Lebanon?

Same as any USD account. Limit set by the bank regardless if it's fresh money or not.

Only difference is that you can use the fresh money to make an international transfer whatsoever.

Crazy i know but that's how it is.

TheIlluminative

Member

Re: Safest way to receive money from USA in Lebanon?

I never saw a $80 roundtrip.

80$ for 1 way
https://i.ibb.co/K6PkVv5/Screenshot-1.png

Sorry but you cannot do it that way. 1 way is always more expensive and you cannot divide it by half.

So according to your date, the 3rd of Match. The cheapest is $123 and the timing is totally a disaster.

Again, there is nothing for $80. I fly to Georgia frequently since 5 years.

Dan28

Member

Re: Safest way to receive money from USA in Lebanon?

Again, there is nothing for $80. I fly to Georgia frequently since 5 years.

i said you go to georgia i didnt say you come back lol.

i can find cheaper.

TheIlluminative

Member

Re: Safest way to receive money from USA in Lebanon?

Again, there is nothing for $80. I fly to Georgia frequently since 5 years.

i said you go to georgia i didnt say you come back lol.

https://i.ibb.co/jz6wyhW/Screenshot-2.png

i can find cheaper.

My search results has been on going to Tbilisi, not going back.

And that $91 is only a ticket with handbag, add $20 or $25 for a 20Kg bag.

Find me a $80 ticket and I will buy it now.

Dan28

Member

Re: Safest way to receive money from USA in Lebanon?

And that $91 is only a ticket with handbag, add $20 or $25 for a 20Kg bag.

well you dont need a suitcase if you're going there just to open a bank account, a backpack will do.

Find me a $80 ticket and I will buy it now.

i promise you the 91$ was 80$ like 3 days ago.