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M1K1
Joined: 17 Oct 2012
Posts: 11
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 Posted: Sat Nov 02, 2013 4:30 pm Post subject: FATCA - who knows about this? |
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So it's just come to my attention recently that there are new IRS laws for USA residents working abroad. I'm just researching this, but for starters, I'll share this link:
http://www.irs.gov/Businesses/Corporations/Foreign-Account-Tax-Compliance-Act-(FATCA)
Does anyone have any insight into this?
If I go overseas to teach ESL, how will I know if I can even start a checking account over there? |
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Prof.Gringo
Joined: 07 Nov 2006
Posts: 2236
Location: Dang Cong San Viet Nam Quang Vinh Muon Nam!
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| Posted: Sat Nov 02, 2013 5:18 pm Post subject: Re: FATCA - who knows about this? |
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Don't know about anyone else but I have never had a problem opening a foreign bank account because I am an American, but you have to comply with the laws of whatever country you are in... In some places, I opened a bank account on a tourist visa and in others you must have the proper work permit/visa and/or residency permit/visa. |
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inotu-unotme
Joined: 26 May 2013
Posts: 197
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| Posted: Sun Nov 03, 2013 12:30 am Post subject: |
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Last year I opened a checking account because my company employing me gave me the proper paperwork to do so.
I still have the right to use that checking account although I'm not with that company anymore.
If you need access to your money one of the following may work:
- paypal
- a global bank like usaa.
Mainly you have to figure out what works best for you and your lifestyle. |
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