Everything You Need to Know About Expat Banking
05/03/11
A major restraint to obtaining a bank account in a new country is the fact that they are considered as offshore accounts by your homeland (particularly in the US). There are some countries that are lax in their handling Expat banking or offshore accounts. This is mainly because they don’t have the resources to do follow up checks on their diaspora. For other countries, they follow the money thoroughly and they are strict enforcers of tax payments. Thus, it would be wise to continue filing your taxes in order to eliminate the risk of hefty fines as well as prosecution.
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