By Mark Nestmann • March 24, 2015
With the US dollar hitting multiyear highs against other global currencies almost daily, Americans are in a sweet spot for making international investments. Your US dollars will buy a lot more rubles, yen, and Canadian dollars than they would a year, or even a month, ago.
By Mark Nestmann • March 17, 2015
US citizens who expatriate – those who give up their citizenship and passport – don’t get a lot of respect.Take Facebook co-founder Eduardo Saverin, for instance. When the Brazilian-born Saverin gave up US citizenship in 2011, it led to a political witch-hunt.
By Mark Nestmann • March 10, 2015
It’s bad enough to have the IRS or another government agency after you. But when Uncle Sam – or even a state or local government – hires a collection agency to chase after you, things can go downhill fast.
By Mark Nestmann • March 3, 2015
One of the assumptions of the eurozone – those 19 countries in Europe that use the euro as their national currencies – is that if any country left the zone, economic disaster would follow in its wake.
By Mark Nestmann • February 24, 2015
I’ve written frequently about FATCA, the Foreign Account Tax Compliance Act. This one-sided law forces other countries to enforce US tax laws. If they fail to do so, they’re effectively locked out of US markets and the US dollar – the world’s reserve currency (at least for now).
By Mark Nestmann • February 17, 2015
Just about every middle-class and wealthy family in the US uses household help at some point. Babysitters, maids, gardeners, nannies… American homes are full of them.
By Mark Nestmann • February 10, 2015
Each year, with great fanfare, the IRS publishes a list of what it calls the “Dirty Dozen Tax Scams.” Last month, it published its most recent list, which you can read here.
By Mark Nestmann • February 3, 2015
It was a warm spring day in St. John’s, Antigua. Driving on the left, as is the custom in much of the Caribbean, was a bit of a challenge, but eventually I found the building I was seeking.
By Mark Nestmann • January 27, 2015
One of the departing initiatives taken by retiring US Attorney General Eric Holder was to impose limits on a legal process called “adoption.” This is not the kind of adoption in which you add a child to your family.
By Paul Rosenberg • January 22, 2015
There’s a good reason why Google, General Electric, Abbott, Honeywell, Johnson & Johnson, Microsoft, Oracle, Apple, and more or less all the other big corporations use offshore strategies: ...
By Mark Nestmann • January 20, 2015
FATCA, otherwise known as the Foreign Account Tax Compliance Act, is one of the most arrogant and one-sided laws ever passed by Congress. I first wrote about it in this essay.
By Mark Nestmann • January 13, 2015
One of the highlights of my life was the nearly three years that I spent in Vienna, Austria. I was there to attend an LL.M. course in international tax law at the Wirtschaftsuniversität, the Vienna University of Economics and Business.
By Mark Nestmann • January 6, 2015
Every so often, I read an article predicting that the US and other major countries are about to force nations that offer “citizenship by investment programs” (CIPs) to shut them down.
By Mark Nestmann • December 30, 2014
One of the recurring questions I get from our US readers and clients is, “Since the IRS has to know everything you do ‘offshore’ anyway, why should you even bother?”
By Mark Nestmann • December 23, 2014
In case you missed the announcement, Cyprus-style bail-ins are coming to a bank near you. On November 16, leaders of the G20 Group of Nations – the 20 largest economies – made an important decision.
By Mark Nestmann • December 16, 2014
The intrepid bureaucrats at the Internal Revenue Service have done a superb job of making us fear them. We dutifully file our 1040s, FBARs, and all manner of other forms...
By Mark Nestmann • December 9, 2014
Boris Johnson, the mayor of London, just became the unlikely spokesperson for the 8 million or so US citizens living abroad. Boris is an “accidental” US citizen. Although his parents were British, he was born in the US.
By Mark Nestmann • December 2, 2014
I owe a debt of thanks to the late Venezuelan dictator Hugo Chávez. You see, back in 2003, Chávez imposed foreign exchange controls to stem “capital flight” – ...
By Mark Nestmann • November 25, 2014
Expats and foreign investors are among the easiest marks for fraud – one of the dangers of international investing that promoters don’t like to talk about. Fraudulent real estate deals are rife.
By Mark Nestmann • November 18, 2014
By Mark Nestmann • November 11, 2014
Indulge yourself for a moment and imagine you're back in 1986. You’re listening to “Addicted to Love” by Robert Palmer on the radio and on your way to the movie theater to watch Aliens, starring Sigourney Weaver.
By Mark Nestmann • November 4, 2014
FATCA and similar laws have eviscerated financial privacy in the US. And last year, thanks to whistleblower Edward Snowden, the world learned the extent of the surveillance conducted by America’s largest spy agency, the NSA.
By Mark Nestmann • October 28, 2014
Over the last few weeks, I’ve had close to 30 consultations with Nestmann Group clients. And one of their top concerns is that Barack Obama or some future US president will find a way to confiscate the money in their IRAs or 401(k) plans.
By Mark Nestmann • October 21, 2014
Unlike many other advisory services, we take a historical perspective when it comes to supposedly fresh and new ideas. And it’s for that reason that I’ve been skeptical of the tax incentives for individuals that Puerto Rico enacted in 2012 ...
By Mark Nestmann • October 14, 2014
In my nearly 30 years of helping Americans “internationalize” themselves, there are four giant obstacles I have watched my clients overcome before finally taking action: Inertia, fear, complacence, and hopelessness.
By Mark Nestmann • October 7, 2014
In the Nestmann family, weddings can be marathon affairs. The latest Nestmann family wedding occurred two weeks ago in Ontario and celebrated the union of my niece with her longtime boyfriend.
By Mark Nestmann • September 30, 2014
Fast food… greasy cheeseburgers, salty fries, and Diet Cokes in Styrofoam cups so large you could wash your feet in them. What could be more American? Well, maybe not so much anymore.
By Mark Nestmann • September 23, 2014
Recently, The Economist reported that Chase Bank closed the accounts of hundreds of porn stars. Among them was blond bombshell Teagan Presley, star of Just Over 18 #10 and more than 70 other porn videos.
By Mark Nestmann • September 16, 2014
It should come as no surprise that the US routinely uses force to get its way in foreign disputes. After all, we have the world’s most powerful military.
By Mark Nestmann • September 2, 2014
What’s the most hazardous financial activity that you can engage in? It’s not investing in penny stocks. It’s not buying foreign currencies. It’s not even playing futures and options, as risky as they may be.