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Tag: Offshore Banking

25 Oct
Reporting Requirements For Americans With Offshore Bank Accounts

Reporting Requirements For Americans With Offshore Bank Accounts

Non-U.S. Banks Are Beginning To Comply With FATCA Regulations We knew it was coming. Non-U.S. banks are beginning to comply with IRS regulations under FATCA. A friend wrote yesterday to say that her bank in Belize has sent her a letter explaining what they are doing to comply with the FATCA requirements and a waiver [...]
01 Oct
Banking Worldwide Is More Regulated All The Time

Banking Worldwide Is More Regulated All The Time

I met last week with a banker from a bank I’ve worked with for years. In conversation, I lamented the difficulties we would-be account-holders face these days when trying to deal with banks around the world, especially if the passports we hold are American. She responded to point out that it’s not only account-holders who […]

13 Aug
It Is Not Illegal To Move Assets Offshore

It Is Not Illegal To Move Assets Offshore

Moving Isn't Hiding Some recent reader e-mails have me scratching my head. Some readers rail against me for writing about ways both to save taxes and to protect assets by moving them offshore. These readers seem fully to believe that these activities are illegal. The only thing I can think is that they are mis-merging [...]
28 Jun
Transferring Funds Across International Borders

Transferring Funds Across International Borders

Banks Are Making Me Crazy! Moving money around the world should be easy in this electronic age, but, with all the banking and government rules, requirements, restrictions, and peculiarities, sometimes it isn't. This week a wire to a business I work with was rejected because the receiving bank didn't like how the sending bank had [...]
21 May
Advantages Of Opening A Bank Account Offshore

Advantages Of Opening A Bank Account Offshore

I recommend regularly that you have at least one bank account offshore…and that opening a bank account offshore can be the easiest first step to diversifying and internationalizing your life. But why? Why is a bank account in another jurisdiction such an important thing? First, a clarification. When I speak about having a bank account […]