If you’re an American reading this then the chances are that you’re one of 8 -11 million Americans living outside the US. The financial underpinnings of your income, savings, investments and insurance, plus plans for your retirement and your children’s education,
have always been complicated. Add to these the layer of an international assignment, which naturally has significant consequences for your ability to monitor your financial accounts, save, invest and pay your taxes.
Things have become even harder in recent years with the IRS & FATCA causing Americans to be unwelcome at many financial institutions. It has caused difficulty opening bank accounts, closed U.S. brokerage accounts, complex and changing tax codes, confused, fearful financial advisors; and few quality investment options.
Additionally many Americans have found themselves with Passive Foreign Owned Corporations (PFICs). It’s important to know if you’re invested in a PFIC because you will be required to file certain tax forms, follow certain tax rules, and probably pay more in tax.
As you’ll see in this addition of American Overseas there are now other financial products, such as the X-Note®, coming to the market for you to invest in that may help solve your PFIC tax issues. If you have a PFIC, or think you might have one, then contact us
to speak to a local adviser.
If you’re one of the millions of Americans who have found it nearly impossible to invest in products in Europe then you’re probably sitting with cash in your bank account gaining zero interest. Again your problems may be solvable thanks to these new investment
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2016.