Global Capital. Clear Intelligence.
The best course of action to ring-fence liability, is this ORS/402(b) program. FATCA and the Automatic Exchange of Financial Information reporting rules are enforced now. The PRC has the same rules about foreign financial account reporting as does the USA. Some people in the PRC feel that it is a matter of survival for them … Read more
The whole thing to do with FATCA is starting to build a tidal wave of interest now that most people understand that 1 July is the drop dead date. [quote style=”boxed”]Would you like to guess as to what is treated as an exempt entity?[/quote] This is explicitly for pension funds as exempt beneficial owners and … Read more
How to retain your account in a Foreign Financial Institution A. Overview In my last installment, I discussed the benefits of a private placement insurance contract (life insurance or annuity) issued by a life insurer domiciled in Puerto Rico – Isla del Encanto – for Americans living overseas. Aside from providing tax-advantages, the Puerto Rican … Read more
FATCA, or the Foreign Account Tax Compliance Act was passed as part of the HIRE act of 2010. Designed to take United States tax compliance beyond the borders of the United States and into foreign territories to prevent the loss of potential billions of dollars in tax revenue, FATCA tightens compliancy standards and increases transparency … Read more