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by graniter
3276 days ago
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US citizens should note that US Federal law requires you to file a statement of your overseas accounts every year, and your foreign bank must report your assets to the US government. There are steep fines if the foreign bank does not comply. This puts a burden and risk on many banks so they sometimes refuse to let Americans open bank accounts with them. And even when they do open an account for you, expect to provide a lot of official documentation (passports, social security number). Just another benefit of being from the land of the free. https://en.wikipedia.org/wiki/Foreign_Account_Tax_Compliance... |
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