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I wouldn't recommend that for the average individual (who, unlike most of the readers on this site, don't have a lot of disposable cash in savings anyways) - at
by allengeorge 10y ago
I wouldn't recommend that for the average individual (who, unlike most of the readers on this site, don't have a lot of disposable cash in savings anyways) - at least from a tax filing perspective. At the very least you're going to have to start filing an FBAR annually, and (depending on tax treaties) have deal with withholding credits. That all aside, there's the currency-conversion hassle, and the fees associated with moving cash internationally.
- mstade 10y agoI should have mentioned I'm in the EU, and the single market makes this a lot simpler – apologies.
- allengeorge 10y agoAh. My bad - yes, I replied from a North-American-centric perspective. I have no knowledge of the EU, and can only assume that the common market would make things simpler (though I wonder if the banks there are really independent of each other, and shocks in each others' home economies.)