You need to help yourself firstly to the wealth of information on the forum already on the FATCA subject .Isn't it the reason behind the forum existence? To help others...
Please read the FATCA agreement for your country of residence. FATCA is a bilateral agreement. I have covered FATCA reporting in other threads so search the forum . Too much non-factual information being thrown about over what FATCA actually is....so read the text.
It's like saying "Can somebody tell me if my money is safe at HSBC Bank I don't want to bother having to read the terms and conditions".
I deleted debate post shortly after reading your post.
Your damn luckyI deleted debate post shortly after reading your post.
btw, I'm lucky to live in country that does not has FACTA, CRS bullshitst.
Your damn lucky
I however feel sorry for people in EU residents on top of CRS they have now ATAD. They don't realize what the EU ATAD (Anti Tax Avoidance Directive) means and most have never heard of it. The tax firms have almost done a media blackout to stop flight before it came into force . Part of ATAD is exit taxation which applies to businesses in EU that move abroad or outside the EU and will eventually apply to all people who choose to move inside the EU or move abroad. Poland has not wasted anytime in drafting laws for people moving :
Poland introduces exit tax for companies and individuals - Lexology
Thanks MartinYou need to help yourself firstly to the wealth of information on the forum already on the FATCA subject .
In fact I personally broke down FATCA reporting and bilateral nature of the agreement in link below. As the same wrong understanding of FATCA existed there also. .
Do I understand that US financial institutions DO NOT report non-us person deposits in them?
Bank in Spain bank will report under CRS to home country of all persons involved in the US company i.e directors, shareholders and UBO if they are based in CRS country .Again on this subject, if I open a bank account in a EU country (let's say Spain or Portugal) for my US (Delaware) company how will the reporting work?