LLC + US Bank Account for non-US resident/citizen

[PlayYourGame]

Hello everyone,

i'm new here, just read some post , really nice community that provide tons of infos!

Here my request:

I would like to know, if anyone can help me, what kind of informations the banks have when making withdrawals / when paying with a US Company Card in EU countries.

Also, someone can provide me a link of an updated-thread that explain how FACTA works for EU resident?

I still cannot understand whether the exchange of information is automatic on both sides . If so, whats the point in 2020 to own an OF company ( including OF bank account)?



My Best

 

[GiGoGo]

CRS or AEOI is automatic, Facta is not but the tax office of your country can request information if they are suspicious.
Check this list

Foreign Account Tax Compliance Act

FATCA requires foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest. FFIs are encouraged to either directly register with the IRS to comply with...

home.treasury.gov