[octaveguin]

Please explain because every bank in the world needs to report to the US about their American account holders.

If you own a holding company in another country, you need to declare that and be taxed on it in addition to that country's tax.

I know this because I own a business and wish to live abroad so I really would like to leave but I can't.

[sesuximo]

You could not make the money in your own name.

I agree once you’ve built up a bank account as a us citizen it’s quite hard to. But if you saw this coming, you could easily have an XYZ USA, an XYZ China, etc.

[noja]

What happens if you rent (instead of own) a holding company?