{"id":2341,"date":"2016-09-13T15:56:02","date_gmt":"2016-09-13T08:56:02","guid":{"rendered":"https:\/\/www.infinitysolutions.com\/blog\/why-budgeting-is-key-to-your-financial-wellbeing-copy\/"},"modified":"2019-09-10T14:10:24","modified_gmt":"2019-09-10T06:10:24","slug":"american-expats-has-fatca-made-your-life-difficult","status":"publish","type":"post","link":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/","title":{"rendered":"American expats: has FATCA made your life difficult?"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]The US government\u2019s policy of taxing all US citizens, regardless of where they live, is almost unique (as far as I know, only Eritrea is the only other country which does it!). The draconian FATCA law which forces them to declare all overseas assets is extremely unpopular, not just with individuals, some of whom have taken the drastic step of renouncing their US citizenship, but also with banks and other financial institutions around the world who are obliged to report back to the IRS on the financial affairs of US clients and account holders.<\/p>\n

FATCA stands for Foreign Accounts Taxation Compliance Act, a law introduced in 2009, aimed at sniffing out tax evaders. It\u2019s a Big Brotheresque piece of legislation which has resulted in Americans all over the world having their bank accounts closed down by institutions who are not prepared to do the financial legwork to comply. This applies for both US banks and institutions, including big hitters Fidelity, Vanguard and Scottrade, and foreign banks. Faced with the choice of an administrative headache or heavy fines, they prefer to simply jettison their US clients living or moving abroad.<\/p>\n

Of course, this isn\u2019t simply about closing down current accounts \u2013 the implications are much wider than that. Americans moving abroad can be forced to liquidate their assets, which has serious capital gains tax repercussions, and IRAs can be frozen which means zero or negative growth until retirement.<\/p>\n

The upshot is that US expats \u2013 and there are anywhere between 3 and 9 million of them around the world \u2013 are finding it harder and harder to locate banking and investments services both at home and abroad. Perhaps you are one of them?<\/p>\n

In our quest to provide investment products to meet the needs of our client\u00e8le, Infinity has joined forces with our UK-based investment management partner, Tilney Bestinvest, to develop investment vehicles specifically for US nationals living abroad. We have come up with a solution to invest your savings legally, enabling you to grow your wealth while living abroad. This involves using a non-PFIC (Passive Foreign Income Company) as a US-based custodian allowing US citizens living abroad to build their wealth. Tax reporting is compliant with IRS regulations (just as if you were living in the US) and charges are comparable to those charged by US financial institutions.<\/p>\n

If you\u2019d like to find out more, our financial advisers would be happy to explain the advantages of these products to you. This product is exclusive in Asia to Infinity \u2013 you won\u2019t find it anywhere else \u2013 so why not get in touch to make an appointment?<\/p>\n

If you would like to know more about our investment services for American expatriates download our brochure here<\/a>.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][vc_column_text]The US government\u2019s policy of taxing all US citizens, regardless of where they live, is almost unique (as far as I know, only Eritrea is the only other country which does it!). The draconian FATCA law which forces them to declare all overseas assets is extremely unpopular, not just with individuals, some of whom have…<\/p>\n","protected":false},"author":2,"featured_media":2344,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[68],"tags":[],"class_list":["post-2341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-american-expatriates","category-68","description-off"],"acf":[],"yoast_head":"\nAmerican expats: has FATCA made life difficult? | Infinity Solutions<\/title>\n<meta name=\"description\" content=\"The draconian FATCA law which forces them to declare all overseas assets is extremely unpopular, not just with individuals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"American expats: has FATCA made life difficult? | Infinity Solutions\" \/>\n<meta property=\"og:description\" content=\"The draconian FATCA law which forces them to declare all overseas assets is extremely unpopular, not just with individuals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/\" \/>\n<meta property=\"og:site_name\" content=\"Infinity Financial Solutions\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/infinityfinancialsolutions\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-13T08:56:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-10T06:10:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Infinity Financial Solutions\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@investmentasia\" \/>\n<meta name=\"twitter:site\" content=\"@investmentasia\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Infinity Financial Solutions\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/\"},\"author\":{\"name\":\"Infinity Financial Solutions\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/a2ccb82ec7b4b1e79d5d970a104927ac\"},\"headline\":\"American expats: has FATCA made your life difficult?\",\"datePublished\":\"2016-09-13T08:56:02+00:00\",\"dateModified\":\"2019-09-10T06:10:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/\"},\"wordCount\":474,\"publisher\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg\",\"articleSection\":[\"American Expatriates\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/\",\"url\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/\",\"name\":\"American expats: has FATCA made life difficult? | Infinity Solutions\",\"isPartOf\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg\",\"datePublished\":\"2016-09-13T08:56:02+00:00\",\"dateModified\":\"2019-09-10T06:10:24+00:00\",\"description\":\"The draconian FATCA law which forces them to declare all overseas assets is extremely unpopular, not just with individuals.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#primaryimage\",\"url\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg\",\"contentUrl\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg\",\"width\":300,\"height\":300},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.infinitysolutions.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"American expats: has FATCA made your life difficult?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#website\",\"url\":\"https:\/\/www.infinitysolutions.com\/\",\"name\":\"Infinity Financial Solutions\",\"description\":\"Infinity specialises in providing superior financial planning solutions to expatriates throughout Asia and across the world.\",\"publisher\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.infinitysolutions.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#organization\",\"name\":\"Infinity Solutions\",\"url\":\"https:\/\/www.infinitysolutions.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/infinity-solutions-logo-no-tagline-200x57.png\",\"contentUrl\":\"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/infinity-solutions-logo-no-tagline-200x57.png\",\"width\":200,\"height\":57,\"caption\":\"Infinity Solutions\"},\"image\":{\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/infinityfinancialsolutions\",\"https:\/\/x.com\/investmentasia\",\"https:\/\/twitter.com\/investmentasia\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/a2ccb82ec7b4b1e79d5d970a104927ac\",\"name\":\"Infinity Financial Solutions\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19bd93e3f8e408d8b46efaf842f367410aeba6accb118db4d6e32ff12bcdd882?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19bd93e3f8e408d8b46efaf842f367410aeba6accb118db4d6e32ff12bcdd882?s=96&d=mm&r=g\",\"caption\":\"Infinity Financial Solutions\"},\"description\":\"A leading provider of expat financial services and wealth management services across Asia.\",\"url\":\"https:\/\/www.infinitysolutions.com\/author\/infinity\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"American expats: has FATCA made life difficult? | Infinity Solutions","description":"The draconian FATCA law which forces them to declare all overseas assets is extremely unpopular, not just with individuals.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/","og_locale":"en_US","og_type":"article","og_title":"American expats: has FATCA made life difficult? | Infinity Solutions","og_description":"The draconian FATCA law which forces them to declare all overseas assets is extremely unpopular, not just with individuals.","og_url":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/","og_site_name":"Infinity Financial Solutions","article_publisher":"https:\/\/www.facebook.com\/infinityfinancialsolutions","article_published_time":"2016-09-13T08:56:02+00:00","article_modified_time":"2019-09-10T06:10:24+00:00","og_image":[{"width":300,"height":300,"url":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg","type":"image\/jpeg"}],"author":"Infinity Financial Solutions","twitter_card":"summary_large_image","twitter_creator":"@investmentasia","twitter_site":"@investmentasia","twitter_misc":{"Written by":"Infinity Financial Solutions","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#article","isPartOf":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/"},"author":{"name":"Infinity Financial Solutions","@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/a2ccb82ec7b4b1e79d5d970a104927ac"},"headline":"American expats: has FATCA made your life difficult?","datePublished":"2016-09-13T08:56:02+00:00","dateModified":"2019-09-10T06:10:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/"},"wordCount":474,"publisher":{"@id":"https:\/\/www.infinitysolutions.com\/#organization"},"image":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#primaryimage"},"thumbnailUrl":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg","articleSection":["American Expatriates"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/","url":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/","name":"American expats: has FATCA made life difficult? | Infinity Solutions","isPartOf":{"@id":"https:\/\/www.infinitysolutions.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#primaryimage"},"image":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#primaryimage"},"thumbnailUrl":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg","datePublished":"2016-09-13T08:56:02+00:00","dateModified":"2019-09-10T06:10:24+00:00","description":"The draconian FATCA law which forces them to declare all overseas assets is extremely unpopular, not just with individuals.","breadcrumb":{"@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#primaryimage","url":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg","contentUrl":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/2018\/08\/A-FATCA-solution-for-US-expats.jpg","width":300,"height":300},{"@type":"BreadcrumbList","@id":"https:\/\/www.infinitysolutions.com\/blog\/american-expatriates\/american-expats-has-fatca-made-your-life-difficult\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.infinitysolutions.com\/"},{"@type":"ListItem","position":2,"name":"American expats: has FATCA made your life difficult?"}]},{"@type":"WebSite","@id":"https:\/\/www.infinitysolutions.com\/#website","url":"https:\/\/www.infinitysolutions.com\/","name":"Infinity Financial Solutions","description":"Infinity specialises in providing superior financial planning solutions to expatriates throughout Asia and across the world.","publisher":{"@id":"https:\/\/www.infinitysolutions.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.infinitysolutions.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.infinitysolutions.com\/#organization","name":"Infinity Solutions","url":"https:\/\/www.infinitysolutions.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/infinity-solutions-logo-no-tagline-200x57.png","contentUrl":"https:\/\/www.infinitysolutions.com\/wp-content\/uploads\/infinity-solutions-logo-no-tagline-200x57.png","width":200,"height":57,"caption":"Infinity Solutions"},"image":{"@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/infinityfinancialsolutions","https:\/\/x.com\/investmentasia","https:\/\/twitter.com\/investmentasia"]},{"@type":"Person","@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/a2ccb82ec7b4b1e79d5d970a104927ac","name":"Infinity Financial Solutions","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.infinitysolutions.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/19bd93e3f8e408d8b46efaf842f367410aeba6accb118db4d6e32ff12bcdd882?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/19bd93e3f8e408d8b46efaf842f367410aeba6accb118db4d6e32ff12bcdd882?s=96&d=mm&r=g","caption":"Infinity Financial Solutions"},"description":"A leading provider of expat financial services and wealth management services across Asia.","url":"https:\/\/www.infinitysolutions.com\/author\/infinity\/"}]}},"_links":{"self":[{"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/posts\/2341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/comments?post=2341"}],"version-history":[{"count":6,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/posts\/2341\/revisions"}],"predecessor-version":[{"id":4474,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/posts\/2341\/revisions\/4474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/media\/2344"}],"wp:attachment":[{"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/media?parent=2341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/categories?post=2341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infinitysolutions.com\/wp-json\/wp\/v2\/tags?post=2341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}