Uncle Sam is not allowing you to take your money and hide it in the Caribbean, or any other foreign country. In 2010 the U.S. Congress enacted the FATCA, the Foreign Account Tax Compliance Act. This is the global model standard for promoting tax transparency, adding the U.S. has signed 22 IGA’s and has 12 agreements to date. FATCA implementation is critical to combating international tax evasion and promoting transparency, said Deputy Assistant Secretary for International Tax Affairs Robert B. Stack. It is your responsibility to look into the options allowed to you.
Thought you should know