Offshore Living Letter is a publication of Live and Invest Overseas. Our goal is to provide timely, actionable information on all things offshore, including: how to go offshore, diversifying your portfolio, wealth creation, protecting your assets, and much more.
What You Need To Keep In Mind To Successfully Open An Offshore Bank Account
If you want to open a bank account in the United States, you walk into a branch of a bank and simply state that objective. That is, you say you want to open an account. Or, even easier, you do it online and save yourself the trip to the bank. As long as you have […]
IRS Tax Deadline Extension Ends April 18th
FATCA, FBAR, And Finding An Offshore Tax Advisor
Putting aside the challenges FATCA has created for Americans (in fact, for everyone) wanting to open bank accounts overseas, the filing requirements and
Can The IRS Revoke Your Passport Under FAST Act?
It’s official. The IRS can now revoke your passport if you owe them US$50,000 or more. The new law was tucked away in a new highway bill dubbed the FAST Act (Fixing America’s Surface Transportation Act) that was signed by President Obama last week. What better way to get a contentious, potentially civil rights-violating bill […]
How To Open An Offshore Bank Account
Yesterday, day one of the Global Asset Protection and Wealth Summit Lief is hosting in Panama City this week, he and I had lunch with banker friends in town for the conference. One, with 30 years of experience in the global banking industry, sat down, looked around the table, and said: “I wish I hadn’t […]
Can One Bad Apple Bring Down Offshore Banking In Andorra?
Five years ago, when the U.S. FATCA law had just been passed and the effects it would have on non-U.S. banks were a hot topic for speculation, a banker I knew from Andorra made a remark to me along the lines of: “We’ll all go back to goat herding before we roll over for the […]
Aggressive Anti-Money-Laundering Efforts Make Offshore Banking More Challenging
I’ve been reporting on the coming of FATCA for eight years. That’s old news. FATCA has arrived. It’s a reality of today’s offshore world. Banks have decided or are in the process of deciding which path they’ll follow toward compliance. Either they’ll continue to work with American clients and meet all the reporting requirements… or […]
Will The U.S. Dollar Continue As The World’s Reserve Currency?
I got peoples’ attention with my “I Confess: I Don’t Care If The U.S. Dollar Collapses” headline last week. Boy, did I get mail, positive, negative, and lunatic. Some readers wrote to point out that the U.S. dollar is on a run and isn’t going to collapse anytime soon…or ever. Others argued that no level […]
Know Your Client Rules And Requirements Around The World
The unintended consequences of FATCA and the overreach of the U.S. government and the IRS have started playing out around the world. In the last week, I’ve heard from a half-dozen people with “know your client” tales of woe. Indeed, I have my own. Let’s start with the know-your-client form that the homeowner’s insurance company […]