International banking

I am curious about off shore banks and how that works. If anyone has experience with this or is in the field, please PM me.
Thanks!

IF you do use a non-USA bank then you MUST declare that fact on your income tax return
The Swiss turned over to the IRS all Americans that had bank accounts
Why?
The Swiss banks were threatened with 'a big USA boot on their throats' or get kicked out of the banking system or something to that effect

I suppose you would be Ok if you held a non USA passport

Yes, I have heard the same from another source. Thank you for answering my inquiry.

IF you do use a non-USA bank then you MUST declare that fact on your income tax return
The Swiss turned over to the IRS all Americans that had bank accounts
Why?
The Swiss banks were threatened with 'a big USA boot on their throats' or get kicked out of the banking system or something to that effect Originally Posted by instfixer

But Israel did not and does not

If you plan on making any money in another country, just use Travelex.

What country are you considering?
The first step is to pick a country and email/call one of the banks and ask them.
The banks in the Carribean(sp?) will ask for a photocopy of your passport; so you will need that first.

But Israel did not and does not Originally Posted by bladtinzu

As always they get to invent their own rules & it doesn't bother anybody.