The Expat Money Show - With Mikkel Thorup cover image

202: The Startup City Concept: Francisco Litvay’s Insights

The Expat Money Show - With Mikkel Thorup

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How to Get a Better Product in Near Shore Jurisdictions

Some of the offshore banks are ridiculously expensive. That's why i like jurisdictions like singapore and now, to a lesser degree, hong kong. They don't have their own intermediary banks, so they have to use a third party's intermediiary banks. So it's taking multiple hops, and they keep losing relationships. And because they get looked down on and they're black listed, the compliance department is through the roof. It takes up probably close to 50 % of the staff is just part of the compliance department. It's crazy. In many zones, you also have zero capital controls and things that you would see in south america. The banking and sending and receiving money part

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