Tag Archives: International Living

Banks lock out Americans over new tax law

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“Americans, take your money elsewhere!  Jimmy Sexton, an American, was forced to close his checking account at Volksbank in Austria earlier this year. And Genevieve Besser, an American living in Germany, was given two months notice last year to close her securities account at ING-Diba, the German arm of Dutch bank ING (INGVF).  The U.S. Foreign Account Tax Compliance Act, which requires businesses to report all assets held by Americans, aims to recoup the hundreds of billions the U.S. says it loses each year from tax evasion. But it’s also leading global banks big and small to dump U.S. customers rather than wrestle with the complicated law.”

http://money.cnn.com/2013/09/15/news/banks-americans-lockout/

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Americans in Canada may be unable to receive payments from Government

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“Looks like the Government of Canada will require a bank account for all government cheques. Therefore. anybody who is:  1. Suspected of being a U.S. person; and 2. Who becomes ‘FATCA Recalcitrant’ and has his/her account closed, will be unable to receive payments from the Government of Canada. It’s important to note that at the present time, any person, on showing the appropriate ID can get a Government of Canada cheque cashed at any bank. The ‘noose is tightening’ around U.S. citizens abroad.”

http://isaacbrocksociety.ca/2013/09/16/americansabroad-in-canada-may-soon-be-unable-to-receive-payments-from-government/

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Thai doctor: “I’m not a slave to insurance companies or regulations…”

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“People often presume that the medical care in the developed West is the best in the world.  But over the years, it’s become a centralized, bureaucratic mess. In Thailand, private medical care is excellent, efficient, and tremendously cost effective.  Many of the international hospitals are more like five-star hotels and luxury shopping malls. And there’s very little waiting.  The quality of the care is also first rate. Many of the doctors were trained at western universities and fellowships.  One of the physicians I met yesterday received her MD in Singapore, plus a Masters degree and PhD in her field at a top university in California, and then another fellowship at Harvard.”

http://www.sovereignman.com/lifestyle-design/local-doctor-im-not-a-slave-to-insurance-companies-or-regulations-12683/

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Switzerland among top three ‘happiest countries’

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“Switzerland finishes ahead of fifth-ranked Netherlands, Sweden, Canada, Finland, Austria, Iceland and Australia.  The United States ranks 17th, while the UK is 22nd.   Swiss neighbour France is in 25th place,  just ahead of Germany.  Sub-Saharan African countries come last in the rankings.  Six key factors also help determine the rankings, including real GDP per capita, healthy life expectancy, having someone to count on, perceived freedom to make life choices, freedom from corruption and generosity.  Switzerland’s high ranking comes after a report from the World Economic Forum named the country the most competitive in the world for the fifth year in a row.”

http://www.thelocal.ch/20130909/switzerland-among-top-three-happiest-countries-report

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Why I renounced US citizenship

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“I flew to Switzerland and was hired by two large international firms at the same time within a few weeks, both offering double the pay and with better benefits.  I had to choose.  Months later, my spouse joined me there.  11 years later, I learned that Swiss banks were rejecting little people simply because they had US citizenship and as a result of US policy.  It was clear that the US citizenship had to go.  Overall, I find that the American job market is often trigger-happy, overreacting to strongly to non-issues.   In Switzerland, I’m trusted, my skills and motivation are respected and appreciated and my minor human errors are forgiven.  To anyone thinking about working in America: think again.”

http://isaacbrocksociety.ca/2013/09/10/why-i-renounced-us-citizenship/

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Rather than pay ridiculous taxes, Americans renouncing citizenship

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“As Americans live and work overseas, they find themselves facing onerous tax reporting requirements designed to crack down on tax evaders. However, the paperwork and reporting requirements are exhausting.  For a few Americans, it is easier to renounce their citizenship and escape the burden.  Americans living overseas say they are weary of the paperwork and burdensome requirements. Most countries have lower tax rates and caps, which make it more attractive to become citizens elsewhere. Some citizens only retain their American passports for travel purposes, which makes the document very expensive.”

http://www.catholic.org/national/national_story.php?id=52040

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Non-Traditional Retirements, or DIY Sabbaticals

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“NPR Morning Edition featured a story today about non-traditional retirements: Seeing The (Northern) Light: A Temporary Arctic Retirement. Instead of waiting until 65, Winston Chen decided to stop working for an entire year mid-career and moved his family to a small Norwegian island in the Arctic Circle with only 180 residents.  Our society seems to feel that education is for the young, work is for the middle-aged, and leisure is for the elderly. But what if you decided to snip 5 years from those retirement years and sprinkle them between your working years?”

http://www.mymoneyblog.com/non-traditional-retirements-or-diy-sabbaticals.html

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Working holiday visa – Wikipedia

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“A working holiday visa is a residence permit which allows travellers to undertake employment (and sometimes study) in the country issuing the visa for the purpose of supplementing their travel funds. For many young people, holding a working holiday visa enables them to experience living in a foreign country, without undergoing the usual costly expenses of finding work sponsorship in advance or going on expensive university exchange programmes.  Most working holiday visas are offered under reciprocal agreements between certain countries, to encourage travel and cultural exchange between their citizens.”

https://en.wikipedia.org/wiki/Working_holiday_visa

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Filling the FATCA void

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“The overwhelming consensus back in the early days of the last century, was, ‘Why would an American want to leave their country?’  Yet out of today’s seven million US expats who are abroad, over one thousand this year alone have also chucked away their national identity. They have done so due to the impending FATCA rules which threaten their own financial planning continuity, cutting off access to channels of advice and financial management. The reporting restrictions to the American taxman – the IRS – that FATCA places on all non-US companies dealing with US clients are now deemed far too complex and costly for large institutions to comply with.”

http://www.international-adviser.com/profiles-and-analysis/analysis/filling-the-fatca-void

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Syria and Second Passports

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“You won’t be any worse off by moving some of your savings into multiple friendly jurisdictions and into things that are hard to confiscate, such as physical precious metals and foreign real estate. Obtaining a second passport is also an important ingredient in the mix.  The Syrian government, for example, previously refused to renew the passports of Syrians abroad it suspected of being associated with the opposition. This is not surprising and should have been completely predictable.  Any government has the ability to revoke the citizenship and/or passport of its citizens at a moment’s notice under any pretext that it finds convenient.  Look at how the US cancelled Edward Snowden’s passport by fiat.”

https://www.internationalman.com/78-global-perspectives/998-syria-and-second-passports

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