FATCA reporting

Reboot

Building Trust
Entrepreneur
Hi, my question is: being a resident in a EU country and having a Delaware company with a US bank account, will my info be reported back to my country of residence?
Also the same for Payoneer accounts.

thanks
A.
 

niggashit

Banned User
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Entrepreneur
No. You won't.

FATCA applies only for US residents not for non residents. There is similar one for non-residents but it depends on many things. ..
 

Todd

New Member
No, Fatca forces financial institutions to report US residents around the world. You are EU resident so you have to be afraid of CRS. CRS members will report you to you home country if you have a account amongst them. USA is not member of CRS, however they report to OCR on their own terms as far as I know.
 

Martin Everson

Offshore Consultant
Business Angel
Mentor Group
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 thu&¤#. 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".:confused:
 

Martin Everson

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Martin Everson

Offshore Consultant
Business Angel
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Read the the thread I posted above fully (only 2 pages long) then come back and lets debate the facts again and line for line if you want coo-:!y.
 

niggashit

Banned User
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Entrepreneur
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 thu&¤#. 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".:confused:


Non - US Citizens & FATCA Encounters
The Impact of FATCA on U.S. and Non-U.S. Real Estate Funds | Deloitte | Real Estate | Insights



@Martin Everson

HSBC is global bank. You need local bank like Wells Fargo. This is facts.

A lot small credit unions does not has technology even to find bitcoin transaction in history. You decide.
 

niggashit

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Like i told you, Non-interest bearing account work as expected . I said this many times.
 

Martin Everson

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@niggashit What am I supposed to be debating with you that I have stated as incorrect in the post I linked? Or are you simply agreeing? Did you even read my thread I linked and what I said on interest bearing accounts stupi#21
 

niggashit

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@niggashit What am I supposed to be debating with you that I have stated as incorrect in the post I linked? Or are you simply agreeing? Did you even read my thread I linked and what I said on interest bearing accounts stupi#21
I deleted debate post shortly after reading your post.

btw, I'm lucky to live in country that does not has FACTA, CRS bullshitst.
 

Martin Everson

Offshore Consultant
Business Angel
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I 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 :D

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 :D:

Poland introduces exit tax for companies and individuals - Lexology
 

niggashit

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Entrepreneur
Your damn lucky :D

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 :D:

Poland introduces exit tax for companies and individuals - Lexology

I think EU residents should put money in multi family offices that way they get some kind of protection. Again, I'm not sure about this. This is for wealthiest people. I have assigned mutli family office and they buying real estate under family office name not under mine.
 

niggashit

Banned User
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Entrepreneur
US government is shut down. You able to freely do anything you want till Trump get border thing done.

This include Tax agencies. I not able to call IRS on today. I found this today.
 

Reboot

Building Trust
Entrepreneur
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?
 

Martin Everson

Offshore Consultant
Business Angel
Mentor Group
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?
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 hap¤#".
 

Reboot

Building Trust
Entrepreneur
I was told by a Portuguese bank that they don't report automatically. Only if asked by a court order ...
 

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