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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,

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.

noja 6y ago
What happens if you rent (instead of own) a holding company?
sesuximo 6y ago
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.