Posts Tagged ‘FATCA’

How Does FATCA Impact Your International Bank Account?

Caye International Bank BuildingThe Foreign Account Tax Compliance Act, better known as FATCA, was created in 2010. It is a piece of legislation that impacts how American citizens are taxed, and it applies regardless of where you live or where you keep your assets.

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International Banking to Keep Your Offshore Money Safe

New rules promulgated by countries such as the United States are prompting wealthy individuals to reconsider their options when it comes to offshore banking. The Foreign Tax Compliance Act (FATCA) of the U.S. Internal Revenue Service is having a profound impact on the offshore financial industry, but everyone should understand that financial institutions in Belize are ready to embrace compliance while still protecting the integrity of the offshore funds deposited by their clients. It is particularly important to note that the FATCA rule does not solely apply to U.S. citizens; it may also affect others who have a taxation relationship with that nation.

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