My op-ed piece in The Jerusalem Post outlines the potential fallout from these two regulated regulations, including the potential for small and medium-sized foreign banks to divest completely from the U.S. market.
Since these laws force American expatriates to disclose and pay taxes on most of their foreign financial holdings, it could also drive Americans living abroad to renounce their citizenship rather than pay taxes in two countries.
I also discuss the detrimental effects that these regulations may have on the investment decisions of U.S.-based businesses.
Read the piece on The Jerusalem Post‘s site.
Douglas Goldstein, CFP®, is the Director of Profile Investment Service, Ltd., which specializes in helping people who live in Israel with their US dollar assets and American investment and retirement accounts. He helps olim meet their financial goals through asset allocation, financial planning, and using money managers.
Published April 18, 2013.