Hide IT Direct Deposit from US. Opt: Invest in EU

[ILikeCandy]

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I'm a NewBie. US/IT citizen. Living in IT.

Need to hide (from the US) direct deposit from a job in Italy. That is the main requirement.

If Possible, I would like all the bells and Whistles with a bank account. Like, debit card, internet banking, maybe even credit card. If not, no big loss.

One account I would love to have is to be able to invest. Like buy EU stocks and bonds.


Any help would be great. You know, How, Where, with who, etc.

 

[Sols]

You're about 10 years too late. With FATCA, this is pretty much just a pipe dream for US citizens.

You can try things like deceiving banks by only showing your Italian passport and/or placing assets in the name of a non-US spouse/family member. But those things come with a constant risk of the bank for some reason, at some point identifying you as a US person.

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This is the probably the answer to your question.

 

[ILikeCandy]

Sols said:
You're about 10 years too late. With FATCA, this is pretty much just a pipe dream for US citizens.

You can try things like deceiving banks by only showing your Italian passport and/or placing assets in the name of a non-US spouse/family member. But those things come with a constant risk of the bank for some reason, at some point identifying you as a US person.
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It sucks even worse cause, they ask where I was born and it says on my IT Passport where I was born.

But isn't there some country that doesn't give a rip, if you are American? They won't tell.

 

[Sols]

Yes, but banking in Iran, North Korea, and so on isn't all that great. They're effectively closed off from the rest of the world. Moving money in and out is possible, but a violation of international sanctions.

Every other bank/country is going to be FATCA compliant. If they are not, they risk losing access to USD and/or being subject to a 30% fee (tax) on all USD transactions. Chances are no client is worth that risk to the bank.

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This is the probably the answer to your question.

 

[Martin Everson]

Sols is right. Just comply with US rules or revoke your US. However even if you revoke your US citizenship you will forever until your death have to carry the paperwork of US citizenship revocation you would be given. Every bank may ask for this if it says born in US on your IT passport.

I wish you luck however.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[ILikeCandy]

So this website isn't Off Shore (AKA Tax Havens) website. It is Cashless/E-Banking website.?

 

[Sols]

It is, but we're also aware that it's 2020 going on 2021. What used to be possible no longer is.

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This is the probably the answer to your question.

 

[Davis123]

ILikeCandy said:
It sucks even worse cause, they ask where I was born and it says on my IT Passport where I was born.

But isn't there some country that doesn't give a rip, if you are American? They won't tell.
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If you are birth in USA is stamped on your non us passport you will forever carry this yoke of slavery. They will ask you for your renounciation paperwork as Banks are terrified of USA connection.