I'm trying to get a clear understanding of how FATCA affects non-resident LLCs and their beneficial owners, especially regarding automatic exchanges of information between the U.S. and countries that have signed Intergovernmental Agreements (IGAs). I know personal accounts with over $10 in...
Very simple question: if I obtain US residency or citizenship, will my home country know about it?
Opening a bank account as a US resident/citizen shouldn't trigger any reporting as I would be be considered a US person for tax purposes, which would be correct. I haven't lived in my home country...
Since March 2021 twelve countries now automatically share information on companies with no economic substance and where beneficial owners are non-resident. I think non-resident folk with companies in the below countries may be in for a letter from their tax man.
Anguilla
Bahamas
Bahrain...