4 ms·
> Being a us dual citizen has the disadvantage of continuing to owe income tax to the USA I think it is for any income above 100k/year (the amount could have c
by cambalache 6y ago
> Being a us dual citizen has the disadvantage of continuing to owe income tax to the USA
I think it is for any income above 100k/year (the amount could have changed), if you are in that bracket is a nice problem to have
> Also many international banks cringe at opening accounts with “us persons”
I live in a country with many American expats, none of them have had any problem whatsoever to access to banking services, including opening accounts
- refurb 6y agoThat tends to be the deciding factor. If you live somewhere with many US expats, the banks are usually willing to jump through hoops to get you as a customer. If you’re a one-off for them they may just say “no”.
- culturestate 6y ago> I live in a country with many American expats, none of them have had any problem whatsoever to access to banking services, including opening accounts It depends on the bank. Any bank doing business internationally is usually fine because they probably already have a robust compliance mechanism in place, but a lot of local banks will just straight-up say no because they don't want to be subjected to FBAR / FATCA.
- davchana 6y agoTrue, in middle east, local banks were not happy to hear that I had SSN & US residency.
- Brajeshwar 6y agoRecently, I read an article -- Why 'Accidental Americans' Are Desperate to Give Up Their U.S. Citizenship -- https://time.com/5922972/accidental-americans-fatca/ https://time.com/5922972/accidental-americans-fatca/