UAE
As a US expat, regardless of where you are resident, you are liable to taxation on your global income. FATCA is an international standard for the exchange of information regarding US Taxpayers who earn income overseas. It requires any non-US institution that you hold money with to monitor, record and report your details to the Internal Revenue Service (IRS).
As a result, many offshore financial institutions are refusing to service US expatriates as they do not wish to bear the cost or the responsibility. This leaves you with fewer places to turn to while you’re overseas.
While there’s no uniform method for US expats to mitigate their tax liability, your entire financial position and future goals must be considered. Which is where we at Titan Wealth excel.
For advice on FATCA, or any other aspect of financial planning, contact us and one of our US taxation specialists will be in touch to assist you.