03/10/2017
Americans are far too familiar with the ever tightening laws, restrictions and taxation on their global investments and holdings, by the IRS since the introduction of Foreign Account Tax Compliance act (FACTA) in 2014. This means mandatory Foreign Bank Account Reporting (FBAR) and restrictions with massive tax penalties on Passive Foreign Investment Companies (PFIC) investments (i.e. global Mutual Funds, Swiss brokerage accounts etc.) Even setting up a simple Bank account has rules and restrictions, whereby allot of American passport holders are simply being turned away just for a regular savings account!
We can help with Bank accounts and US compliant Investment Accounts, but what is even more interesting is the option to unlock your 401k or IRA TAX FREE if you reside here in Thailand.
It has been traditionally good financial advice to leave your 401k accounts and IRA's back in the United States, due to heavy taxation on transfer, early exercise and drawdown, making it impractical to move them offshore. However, for US ex-pats living here in Thailand, there is a very strong international tax treaty between the US and Thailand, which can be leveraged both securely and legally, to not only free the money up, but also doing this 100% penalty and Tax Free!
This solution comes with a great deal of flexibility for US pension holders, (whether American or non-American) in regards to tax efficient drawdown strategies and open investment options, for a safe and secure retirement here in Thailand.
We educate you on your rights and options regarding your US assets.
QUESTIONS? Get in touch today!