(And How To Prosper In Spite Of It)
Oct. 22, 2013, Panama City, Panama: There is no point fighting a battle you will never win. FATCA is making banking for U.S. citizens overseas much more complex and expensive, but that doesn’t mean it is making banking overseas impossible…
Dear Live and Invest Overseas Reader,
Banks are taking action. They’re trying to become FATCA-compliant. Bottom line, they don’t really have a choice about it.
A couple of weeks ago, one of my banks sent me the dreaded eviction letter, telling me, in short: “We’re closing your account. You have 30 days to move your funds.” I’m still trying to sort out a new bank account for that entity, and the clock is ticking.