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Move Abroad for Your Retirement?

One great advantage to being American is that English is nowadays the lingua franca pretty much anywhere you go, and with 18.2% of Americans speaking Spanish as well, there are very few places Americans can’t go without being confident of their ability to communicate – although this is not to say that there is not rich reward to be enjoyed in learning to speak the native language of your expat retirement destination.

However, moving abroad is not a decision that is to be taken lightly. Not only should you thoroughly research your destination of choice, the type of visa you will require, the healthcare on offer and the expat community that exists there, you will also need to look into the full spectrum of expat wealth management considerations such as the pension and retirement planning vehicles, double taxation treaties with the United States and more. You will also have to consider reporting regulations in relation to your income – simply moving away from the US is not enough to negate your tax liability in the country.

Wealth Management for US Citizens Abroad and Expats in the US

All US citizens and residents, including NRA expats abroad, need to understand both their tax obligations in their country of residence and their country of domicile.

Blacktower (US) LLC provides clear and effective wealth management advice and services in this regard. For more information about us and how we may be able to help you effectively manage your wealth and retirement planning in the US contact us today..

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

TOP TIPS – Drawdown and Managing a UK Pension in the US

The single most important retirement question faced by most British retirement savers boils down to what they should do with their pension. Yet for British nationals living in the United States this decision is likely to be even more profoundly important. Not only must they grapple with the usual questions regarding a potential pension transfer or drawdown, they must also consider the complexities inherent in their cross-border situation. All in all, the stakes are high and, in these circumstances, planning and advice are everything.

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IRAs for US Non-Residents – Dumped by your Custodian?

The Foreign Account Tax Compliance Act (FATCA) has had many consequences, including some that have been both profound and unintended.

One legacy of FATCA – although positive factors such as tightened anti-money laundering regulations should also be taken into account – is the difficulty that many Americans abroad have faced in relation to their IRA accounts, with many being closed as the saver becomes US non-resident.

As a result, an increasing number of non-residents are finding themselves in an unenviable position when it comes to their retirement and IRA planning.

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