Emirates And Taxes

[d328pilot]

.....

 

[d328pilot]

The Patriot Act changed everything. Now the US can track where all money is sent and recieved. That is why Banks in Hong Kong, etc do not do business with Blue Passport holders.

Not true. I personally hold accounts in Hong Kong, Singapore, and Japan. Banking accounts are no problem, but investment accounts are much more difficult to open.

It is very sad to actually see how restrictive the US government makes things for it's citizens living overseas. My kid will be able to have dual citizenship and as soon as he goes to get a US passport, he will have to file a tax return for the rest of his life, even if he never goes to the US 1 day in his life.

We have sure come a long way from the Revolution due to taxation.... and not in a good way.

 

[typhoonpilot]

The IRS can still go after a person for something like 7 years following a renunciation of citizenship if they think it was done for tax purposes.

Gives one pause as to what exactly a free country is doesn't it? If the USA is a free country wouldn't a citizen be allowed to leave, should they desire?

TP

 

[Pistlpetet]

Not true. I personally hold accounts in Hong Kong, Singapore, and Japan. Banking accounts are no problem, but investment accounts are much more difficult to open.

It is very sad to actually see how restrictive the US government makes things for it's citizens living overseas. My kid will be able to have dual citizenship and as soon as he goes to get a US passport, he will have to file a tax return for the rest of his life, even if he never goes to the US 1 day in his life.

We have sure come a long way from the Revolution due to taxation.... and not in a good way.

Sorry I should have clarified myself more. Yes anyone can open a bank account most anywhere, but I was refering to certain "Off Shore" Accounts that are typically used by people of other countries to hide their money, and or have it invested for them.

 

[AA717driver]

Gives one pause as to what exactly a free country is doesn't it? If the USA is a free country wouldn't a citizen be allowed to leave, should they desire?

TP

Always someone pointing out that the Emperor has no clothes...

The IRS is one of the most repressive regimes on the face of the Earth. TC

 

[Hawker800]

Amen AA717. Very true.

 

[dickie q]

The federal reserve is another