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The tax reporting implications and liabilities of becoming US citizen are a clear turnoff for many people. Cash is king.
by antr 15y ago
The tax reporting implications and liabilities of becoming US citizen are a clear turnoff for many people. Cash is king.
- andrewpi 15y agoYep.. it's becoming increasingly hard to do any business with overseas banks if you have US Citizenship. Foreign banks don't want the liability.
- antr 15y agoVery good point. In Switzerland, if you have a US passport, it is pretty difficult to open a bank account and/or get financial advice. Apparently bank/advisors can get into trouble for reasons I am not well up to date.
- acangiano 15y agoYup. People with dual citizenship ("American" and "Swiss") living and working in Switzerland, have a hard time opening a bank account due to their American citizenship.