Banking overseas is more challenging today than it’s ever been and more challenging all the time thanks to the constantly changing landscape.
One week, one bank will open an account for Americans. The next week it won’t. Another bank that required a US$100,000 minimum bank balance increases that requirement to US$500,000… and then reduces it to US$250,000.
Recommending offshore banking options has become a hazardous occupation… so I’ve given it up. Rarely any longer do I “recommend” a bank. Rather, now I suggest various banks as options to try. One person may succeed at getting an account with one bank where another fails… and vice versa… on and on.
In fact, it’s easier today to …Continue Reading
A friend is trying to figure out where to move overseas with his family. He’s a freelance consultant, so all he needs to be in business is an Internet connection. In other words, he could go almost anywhere, which is making it difficult for him to decide what to do.
He started by narrowing his choices based on his wife’s personal preferences and the fact that they have a child in need of schooling. Still, he had plenty of options.
His next decision factor became taxes. Where could he move to minimize his overall tax bite? …Continue Reading